Student loans and pensions

sefton

robdogg11 wrote: »

I rang PRA.

They said as I have already raised a complaint with them they have been in touch with QQ and are awaiting a response from them. I asked how long they wait for a response and they said they will wait indefinitely :rotfl: so i guess i wait for either the QQ complaint to progress with the ombudsman or wait for the 8 weeks to pass on the PRA complaint and start the whole process again with them.

In better news, Ombudsman has ruled on my PDUK complaint today.

Refunds on 10/15 loans :beer:

Happy with that. Anybody have any idea of PDUK's response to things like this? Do they normally accept the ruling or drag it out?

Just the QQ complaint and PRA default to sort out now.

They can't argue

our rules & powers

final binding decisions

why does a business have to comply with an ombudsman's decision?

Under the legislation that established the Financial Ombudsman Service and gave us our powers, an ombudsman decision is final and binding on the business, if it is accepted by the consumer. Businesses are also required to co-operate with the ombudsman service in their dealings with us.

An ombudsman decision gives finality and certainty. It means that a dispute that has probably already lasted for many months - absorbing increasing amounts of senior management time and business resource - can be brought to an end, once and for all.

:T

robdogg11

sefton wrote: »

They can't argue

:T

Excellent, here's hoping for a swift payment then.

Dogdays12

I've been following this thread for a while now and complained to all my payday companies around the 2nd of January.

All have been deferred to ombudsman due to no offer or response being made in the 8 weeks but today - before the FOS could get involved- Wonga emailed me back.

From my SOA I worked out that if they refunded all loan interest plus the 8% compounded I'd be looking at a healthy 2.3k give or take.

They just offered me 3.4k. Something mystical has happened! You can be damn sure i ran off accepting that. I must have miscalculated somewhere but very very nice surprise! Hopefully expecting about another 1000 or so from the other companies to come.:j

Sadie23

Happy news for me this week! Received my decision from Ombudsman, agreeing wholly with my Adjudicators findings to uphold complaints for all loans with QQ.


I first complained to QQ on 1st of September 2016 - so this has taken a fair few months. But so pleased that its finally ending, I have accepted the decision via email and now awaiting to hear back from FOS or QQ I guess about payment?


Can anyone let me know what happens next? eg, timescales, who to hear from next ect?

sefton

Dogdays12 wrote: »

I've been following this thread for a while now and complained to all my payday companies around the 2nd of January.

All have been deferred to ombudsman due to no offer or response being made in the 8 weeks but today - before the FOS could get involved- Wonga emailed me back.

From my SOA I worked out that if they refunded all loan interest plus the 8% compounded I'd be looking at a healthy 2.3k give or take.

They just offered me 3.4k. Something mystical has happened! You can be damn sure i ran off accepting that. I must have miscalculated somewhere but very very nice surprise! Hopefully expecting about another 1000 or so from the other companies to come.:j

That is fantastic. Hope the others get a good outcome as well.

sefton

Sadie23 wrote: »

Happy news for me this week! Received my decision from Ombudsman, agreeing wholly with my Adjudicators findings to uphold complaints for all loans with QQ.


I first complained to QQ on 1st of September 2016 - so this has taken a fair few months. But so pleased that its finally ending, I have accepted the decision via email and now awaiting to hear back from FOS or QQ I guess about payment?


Can anyone let me know what happens next? eg, timescales, who to hear from next ect?

From Ombudsman website

If we uphold a complaint, and the business fails to pay compensation as directed within 28 days, we may then tell the business to pay the consumer further compensation for the delay in paying the original amount.

sourcrates

joel88 wrote: »

Yes ive joined here for only one purpose.
Can anyone guide me on what to do?

I started taking payday loans out a good 4 years ago. Currently i have upto 8/9 PDL, same with the past.
I don't have all the emails from when they approved my loans.
My bank statements will show I have been using them to gamble or to pay off other loans.
Twice I have cleared all the PDL from family which caused a lot of stress.
They have still been lending to me all this time, right now I am struggling to pay off again as the loans were unaffordable and kept reloaning.

Shall I write to them to stop all future payments and to file a complaint as per guide from debtcamel?

Any help would be much appreciated.

THanks
Joel

Yes,

Just follow the guide on the debt camal website.

That's what most people on here have done.

Don't give up at the first hurdle if the say no.

sefton

Not really much of a surprise

CFO Lending Limited trading as Capital Finance One - In Administration (the Company)

Client Reference:

Notification of Appointment

I write to inform you that David Clements and I were appointed to act as Joint Administrators of the Company on 6 April 2017. I am licensed to act as an Insolvency Practitioner by the Insolvency Practitioners Association and David Clements is licensed to act as an Insolvency Practitioner by the Institute of Chartered Accountants England and Wales. Formal notice of our appointment can be found at the end of this email.

Our role as Joint Administrators is two-fold. The first objective is to protect the interests of creditors generally, including consumer creditors. Second, we wish to maximise realisations from the assets of the Company, which may assist towards achieving the first objective. We can confirm that we are working closely with the FCA to achieve both of these objectives and will to do so.

The principle asset in this Administration relates to the outstanding loans repayable to the Company (the Loan Book) from consumer borrowers. The Company offered two types of loan: ones often described as ‘payday’ loans and, to a smaller extent, guaranteed loans.

Communication & Updates

We recognise that consumer creditors and trade/expense creditors will wish to be kept abreast of what is happening in the Administration. In an effort to reach creditors as quickly and efficiently as possible we will provide regular updates on progress via our website, details of which are provided below.

While we have included details of a dedicated telephone line below, calls will be handled by an external call centre acting on behalf of the Administrators. The call handlers will not be able to answer any specific queries in relation to individual accounts and will only be able to provide the same information that is available on the website. Call volumes may be high so you may find it easier and quicker to get the information you need from the website.

Details of the website together with login details where regular updates can be accessed is below, along with the dedicated telephone number and email account:

payable1986

what's worse is that I am due back just over £2k from them and doesn't look like I will see any of it :mad:

sefton

payable1986 wrote: »

what's worse is that I am due back just over £2k from them and doesn't look like I will see any of it :mad:

They had to contact all the customers "they were going to pay" redress to by the end of March. I guess this was always their end game. Forget about it and move on.