Student loans and pensions

harrop87

Wondering if anyone can help me? over the years on and off I have taken payday loans and rolled over taking them out with different companies to pay one off etc etc spiralling into debt. I am bi polar but was undiagnosed at the time and was massively mismanaging finances this was greatly impacted by the Halifax bank charge spiral I had ended up in after my son was born and a hospital stay had meant I missed a payment (that's another story). Anyway this week I found resolver lol so I started making inroads into complaints. First one was quick quid who responded within 24hrs with the fact loan was over 6 yrs old and they wouldn't be able to help but if I wanted to take it further to contact foc. I have no idea where to start with this. Will I need bank statements etc as I have since changed banks. Any help would be greatly appreciated as I have a fair few to go through and as I am trying to start 2018 clearing old debts and being free of the fear of bills and dca. Any help would be apreciated thankyou.

JH1345

Good Evening All,

I’m just looking for a bit of advice regarding a MyJar loan that I took out in April 2017 - I have made a claim regarding this loan, and the previous loan that MyJar gave to me, because I feel they were both unaffordable and I have asked MyJar to refund the interest on the previous fully paid loan and the existing loan (which only has 2 remaining monthly payments left).

I have already wrote to MyJar prior to the existing loan finishing next month because I understood that the complaints procedures are quite long winded and usually take up to 8 weeks to get a final written response.. so basically I was expecting a reply to be after my loan had finished.

MyJar have came back acknowledging my complaint and have advised they will investigate it. Upon logging into my account, I can notice the status of the loan now shows as “repayment plan” and the payments are now less than half of what I was paying monthly but now over an additional period of 4 months. Whilst I have NEVER missed a payment or had a late payment on the loan, I had to take out other forms of borrowing to pay off the payday loan hence the basis of my affordability complaint to the company. I think MyJar have put me on a payment plan, without contacting myself, and I didn’t think they were allowed to do this. I even stated on my complaint email that I was intending to pay the full amounts remaining, because I genuinely will do this, and was wanting the loan interest to be refunded.

My questions are as follows:

Are MyJar within their rights to put me in a repayment plan without my knowledge or without my consent?

As MyJar have done this without my consent, if they’re unwilling to budge, will this affect my credit rating? I have not missed any payments and don’t intend too!

Whilst I appreciate MyJar probably think they are helping the situation, I am willing to and I will pay the loan on time (although I appreciate this may have to be done with a help in hand by other forms of credit!) and I do not want this to affect my overall future if I was to go for a mortgage in 2-4 years time! I have no defaults, no late payments or CCJs although my credit rating has detoroiated since the beginning of the year!

I have already re-claimed £1500 off Mr Lender and I’m awaiting the payment from these. I have sent other emails too other PDLs but I just want to know if anyone has had any experience from My Jar before doing this and what it means for the future?

Distiller72

Following this with interest. I had several loans with Wonga over a 5 month period. All paid back then reborrowed following day until one month i paid back with a payoff from work and never borrowed again. I feel my pattern of borrowing (plus 50k unsecured debt) showed that the lians were unaffordable but i didnt realise there was any recourse. Is this route all about writing off debts nit yet paid back or is it something I could consider? I did borrow principe amounts but fees and charges were massive in many cases

baggybreeches

A repeated pattern of borrowing is usually indicative that the loans were unaffordable. You could write to them and ask for refunds of charges and interest on loans 2 onwards (usually the first loan is classed as affordable because there's nothing to suggest otherwise). There's a decent template on debtcamel to adapt for your own circumstances.

baggybreeches

baggybreeches wrote: »

Hi all, just dipping to say I have had an offer from PayDay UK of £349 for a return of interest on two loans. I have accepted this as it will come in handy for the upcoming season ;-)
Still got a couple more to respond and 6 with the FOS in various states of progress.

A further update on this!
As I was a little under the weather (stressed) when I received this offer I just signed and returned the acceptance form. A couple of days later I actually read the letter, turns out the offer was on 2 loans they upheld my complaint. They asked me to provide details on a further 5 loans (bank statements and credit report) so I sent that off and last week had an offer of £2360 on the further 5 loans!!!!!
I'm waiting on Payday Express who are part of the same group but seem to think my repeated rollovers with them were affordable. There's 7 loans with them so hoping for another success when the FOS get a grip of them.

Distiller72

Fantastic news

operaaida

For those who've had experience with ombudsman and payday loans complaints. How long did it take from logging complaint to ombudsman to decision making please?

baggybreeches

I have had decisions last week from complaints sent over in October.

Unicorn77_2

Another result and only took 5 weeks and one letter to Quid.co.uk
£526 refund and £276 written off old debt.
Very happy with their response.

Franktboris

Good Evening All,

Just joined the forum having stumbled upon a payday loan reclaim company online and doing a little more research brought me here, to cut a very very long and upsetting story short I have been trapped in the same spiral that a significant number of people on here have found themselves caught in, I’m terrified to start on the journey to reclaim but seeing some of the victories on here I’m gaining confidence to begin. Quick question if I may, what’s the best way to start, email the companies direct using the debt camel templates or go via resolver so it’s all in one place? The idea of using a claims company crossed my mind for a short while, I’m hoping that someone will tell me that is a terrible idea and it’s easier to go it alone?