Student loans and pensions

BreakFree14

Neo187 wrote: »

Had my statement of account through from Wonga today. Absolutely horrific reading. I had a loan with them every month for 3 years straight!

Total charges and interest is £7720! unbelievable. Even took one loan and repaid £1200 interest alone! Its quite shameful seeing it all laid out.

I just received mine back today aswel. Can actually see the moment in 2014 that my downward spiral of debt began with my first ever payday loan of £50 which has now cost me thousands.

acee

I have had the following response from Payday Uk when asked for my statement of account:


Many thanks for your recent contact.

This account currently has no sums due or payable. Therefore, we have no current obligation to provide a statement of account under Section 77 of the Consumer Credit Act as per Subsection (3) of Section 77 which states that the requirement under “Subsection (1) does not apply to – (a) an agreement under which no sum is, or will or may become payable by the debtor.”


What should my next step be?
Thanks

Neo187

acee wrote: »

I have had the following response from Payday Uk when asked for my statement of account:


Many thanks for your recent contact.

This account currently has no sums due or payable. Therefore, we have no current obligation to provide a statement of account under Section 77 of the Consumer Credit Act as per Subsection (3) of Section 77 which states that the requirement under “Subsection (1) does not apply to – (a) an agreement under which no sum is, or will or may become payable by the debtor.”


What should my next step be?
Thanks

I had the same response, so emailed back with an official complaint rather than asking for statement of account, and now they are looking into it.

acee

Neo187


Yeah I went onto another site and got a template to reply, they've emailed back saying they will contact me about complaint within 5 days they don't know what it is yet but they probably know what's coming next. Not too fussed on these its Wonga, lending Stream and Safteynet I'm hoping to get decent money from. Safteynet actually have access to your online banking so they know exactly what was going into my account.

emzmommy

After a week and a half of waiting i have received nothing but automated responses so i have written to each of the four loan companies with hope of some reply not holding out hope of wonga because its gonna be a big one but hopefully have an answer off the others....will keep you updated

Finger crossed

Leanneglos1

Hi all, after some help pleaseeee, didn't get a response to my first post�� Basically;
1. Money boat have acknowledged complaint and final response is they do not think they were irresponsible in lending to me and have offered to take of interest from current loan so I repay what I originally borrowed for an ongoing loan with them, do I take this offer or do I escalate to FOS, also their final response isn't in a letter format, I know FOS request copy of letter so if I take to FOS do I ask moneyboat to send letter???

2. Uncle buck have requested a copy of bank statement and credit report, I strongly feel I shouldn't have to provide these, they would have conducted credit search so should have this information and I'm not comfortable sending them my payslips as it doesn't play a massive part in my complaint, my credit report which they should source will back up my complaint, what are your thoughts???

Any help would be massively appreciated:)

Thank you all

henrryyyy

Leanneglos1 wrote: »

Hi all, after some help pleaseeee, didn't get a response to my first post�� Basically;
1. Money boat have acknowledged complaint and final response is they do not think they were irresponsible in lending to me and have offered to take of interest from current loan so I repay what I originally borrowed for an ongoing loan with them, do I take this offer or do I escalate to FOS, also their final response isn't in a letter format, I know FOS request copy of letter so if I take to FOS do I ask moneyboat to send letter???

2. Uncle buck have requested a copy of bank statement and credit report, I strongly feel I shouldn't have to provide these, they would have conducted credit search so should have this information and I'm not comfortable sending them my payslips as it doesn't play a massive part in my complaint, my credit report which they should source will back up my complaint, what are your thoughts???

Any help would be massively appreciated:)

Thank you all

I'm no expert, just saying my current experience..
I have complaints with payday express and PDUK, they rejected my complaint and I went to the FOS. FOS said there was no adverse information on my credit report when I first applied to them so the companies had no reason to think the loans were unaffordable, so they rejected the first couple of loans from each, but upheld the rest(due to persistant top ups, deferrals and monthly lending). Is there any reason Moneyboat should have been concerned about your circumstances when originally lending you, ie defaults late payments etc?

As for bank statements, I wouldnt have sent mine to the loan company had they requested them, however my complaints were rejected by FOS until I sent my bank statements to the FOS as they couldnt make an affordability assessment.

emzmommy

Quickquid couldnt sent statements last week...upon sending the complaint yesterday i got them sent today...funny that!!

Didnt send any bank statements they requested or the pay slips as a credit check at the time surely would have provided them with the information they needed!! Just gave a bit more info into my situation

acee

Sent emails to Safteynet and lending Stream on Friday 28th July asking for a refund. Safteynet already replied saying they are looking at it now and should expect a final response within 4 weeks. Sent emails to 8 others asking for statement of account Sunny sent me the instructions of how to access it online however it only shows my most recent loan so have emailed again they must think im stupid. PDUK & PD Express are looking into my complaint without me even telling them what my complaint was (maybe they know what's coming) the other 6 haven't bothered replying yet see how this goes not feeling too confident.

henrryyyy

acee wrote: »

Sent emails to Safteynet and lending Stream on Friday 28th July asking for a refund. Safteynet already replied saying they are looking at it now and should expect a final response within 4 weeks. Sent emails to 8 others asking for statement of account Sunny sent me the instructions of how to access it online however it only shows my most recent loan so have emailed again they must think im stupid. PDUK & PD Express are looking into my complaint without me even telling them what my complaint was (maybe they know what's coming) the other 6 haven't bothered replying yet see how this goes not feeling too confident.

re sunny statements
if you sign in and click "your details" you can scroll down to where it says previous loans then click statements and select all statements