Student loans and pensions

List_Maker

So 3 months after getting my refund from lending stream and chasing as to why my loan accounts are still on my Credit file, they have come back to say that they have removed the negative info (defaults) from the loans (total 34) of which only two were defaulted. So all 34 refunded interest loans are stilll there.
I was under the impression that they removed the account completely, as every other lender has done as part of this process.
Any one else had this issue? Looks like I’ll be back to the FOS on this. I had spoken to them during this time and she read my final decision and agreed that they should have been removed by now. Soooo frustrating!

arc2014

Week #5 over here - had emails from Wonga & QQ last week to say they're still looking into it. No word from SafetyNet Credit since my original complaint. Almost at FOS time - I hoped at least one of them would settle outside the FOS, we shall see!

Ronald10

I contacted QQ, Wonga, Cheque Credit Centre and Payday Express in June 2017 to claim back monies in payday loans in attempt to reduce my debt and improve my credit rating, I'm desperate to get out of debt and I'm learning to be more responsible with money! Safe to say lesson learnt.

QQ - got back to me in August and offered me £1500, I accepted this but wish I would have gone through FO which I can't now. I called FO and asked for an assessment of the decision but they said because I'd agreed with it and the final response from QQ says I can't go to FO they probably wouldn't look at it. If anybody has any instances where they have reviewed a decision from QQ let me know!

Wonga - I referred this to FO in July 2017, I've submitted further evidence but they are still waiting for a case file to be submitted from Wonga. Hoping for a response soon! I've sent all my bank statements etc

Payday Express - referred to FOS in July 2017, A decision was made at the end of September then PDEX provided more info, the decision was reviewed and now its been sent back to PDEX to decide what to do with it. Anybody had a pay out from PDEX of when to expect payment etc?

what_an_idiot

well done - keep going!

what_an_idiot

List_Maker wrote: »

So 3 months after getting my refund from lending stream and chasing as to why my loan accounts are still on my Credit file, they have come back to say that they have removed the negative info (defaults) from the loans (total 34) of which only two were defaulted. So all 34 refunded interest loans are stilll there.
I was under the impression that they removed the account completely, as every other lender has done as part of this process.
Any one else had this issue? Looks like I’ll be back to the FOS on this. I had spoken to them during this time and she read my final decision and agreed that they should have been removed by now. Soooo frustrating!

Yes - I had it with Mr Lender. When I queried it, it was confirmed that the final settlement I signed was to 'remove all negative reporting from my credit file'.


A loan paid on time is not seen as a negative, however, one with a default is.
As a result of this, I am just about to accept an offer from another company and will stipulate in my reply that this is on the basis that any and all credit reference agencies are removed, regardless of positive or negative.

Sadly, Im not sure you will get anywhere with this, but please let me know.
I had a total of 7 defaults, Ive had agreement for removal of 4, but the remaining 3 are all with Lending Stream who are refusing to accept my complaint and I am going through the FOS now waiting for an adjudicator.

what_an_idiot

what_an_idiot wrote: »

I have received an offer from QQ this morning for just under £1500 when I have calculated that I only paid around £800 in interest from previous loans with a principle of 3750.


Its worth noting that this offer came in ahead of me even being allocated an adjudicator. The business only sent the file across on the 2nd Oct.

Having worked through this with the FOS, it seems that QQ have refused to take into account 2 loans over 6 years old (no biggie as not on credit file and was only £450 loaned) said my first within the timeframe was affordable (so loan 3, and again only £200 borrowed). The have accepted liability on all other loans within the past 6 years (£3100 borrowed) and have offered full interest at just over £1000 plus the 8% - tax. :j


Very happy, awaiting written confirmation so I can make the point about the credit file being fully wiped clean, and will accept their offer. :beer:

Bluetonic123

Last night I received over £3000 from 247moneybox. I can now pay back my catalogue account (which I will not use again) and some outstanding bills I was worried about. I am well on my way to being debt free and will never ever take out a payday loan again.

Kellie17

I today have received an email from the company acting on behalf of Cash Genie as they are now in Liquidation, I am due £290 compensation but they have mentioned this in the email and I not sure whether to agree to it, as I have to reply I take this as a full final offer. I am happy with the offer.


RSM will post a cheque payment. However, as you are aware, Cash Genie was placed into liquidation on 5 January 2016. As you are owed funds from the Company you are classed as an unsecured creditor and the Joint Liquidators will seek to make full payment to you in due course. Dividends (payment runs) will be run approximately every 2 months and RSM will send your payment as soon as they are able to do so. In the meantime, your debt will continue to accrue statutory interest at 8% per annum.

Would it take long, am I going to get the cheque. Considering the company has been in liquidation since the start of 2016 surely things would be wound up by now? Has anyone else received REDRESS from Cash Genie?

mariadonald

Thanks for sharing Woody. Its good to read some good stuff about the Payday loans. Yes I agree that there are some lending companies that are not good but there are many online lending stores that actually cares about people money too. They also helps you in easy repayment methods.

what_an_idiot

Kellie17 wrote: »

I today have received an email from the company acting on behalf of Cash Genie as they are now in Liquidation, I am due £290 compensation but they have mentioned this in the email and I not sure whether to agree to it, as I have to reply I take this as a full final offer. I am happy with the offer.


RSM will post a cheque payment. However, as you are aware, Cash Genie was placed into liquidation on 5 January 2016. As you are owed funds from the Company you are classed as an unsecured creditor and the Joint Liquidators will seek to make full payment to you in due course. Dividends (payment runs) will be run approximately every 2 months and RSM will send your payment as soon as they are able to do so. In the meantime, your debt will continue to accrue statutory interest at 8% per annum.

Would it take long, am I going to get the cheque. Considering the company has been in liquidation since the start of 2016 surely things would be wound up by now? Has anyone else received REDRESS from Cash Genie?

Hi,


Im not sure what other option you have. What they have confirmed is for as long as it takes them to pay you, they will add the interest for you. So if it takes 10 years, you will be paid the 8% interest for 10 years. If its takes 10 days, you get the idea.


personally, I would accept, but that's just me