Student loans and pensions

PartyPoison

And there we have it - Wonga have now replied with their offer. This is about £30 short of what I calculated it would/should be and for the sake of X number of months going through FOS emails, I will be settling.

This was a very easy process in the end, just made less simple looking by the time between mails. Thank you to everyone in here - especially over the first 70-80 pages or so when it was all new and to everyone still active for any help they have given.

3 successful claims, and I "lost out" on approx £120 of what I calculated over the three by accepting offers, but for the sake of going through with FOS emails over however many months, I can live with that - it has cleared a HUGE chunk of my debt so far (already paid off) and meant I no longer need to worry about getting new glasses haha. And I plan on keeping half of the Wonga payout to treat myself and the missus to a long weekend after Iv paid off more of my credit card!

Lesson well and truly learnt by me, but I hope that these companies have learnt just as big a lesson!

GJNA

I've had my first acknowledgement from Quick Quid.

They are asking that I provide bank statements, wage slips and anything additional I have from when I took loans out. I have changed banks and as some of the loans relate to about 8/9 years ago away back at the beginning, I don't have payslips that I've kept from then. I changed banks too. I don't think I would want to give them all of it even if I had it. What should I say to them?

The only thing I can think of giving them is something relating to the later DMP that I went on to when everything got really out of control but would that be enough proof of the trouble I was in as that came later?

GDN

GJNA wrote: »

I've had my first acknowledgement from Quick Quid.

They are asking that I provide bank statements, wage slips and anything additional I have from when I took loans out. I have changed banks and as some of the loans relate to about 8/9 years ago away back at the beginning, I don't have payslips that I've kept from then. I changed banks too. I don't think I would want to give them all of it even if I had it. What should I say to them?

The only thing I can think of giving them is something relating to the later DMP that I went on to when everything got really out of control but would that be enough proof of the trouble I was in as that came later?

Just ask them to carry on investigating your complaint but in the meantime be prepared to have the documents they ask for incase it goes to the FOS in 8 weeks.

Stats72

Hi.i' m new to the site.anyone had any success with sunny? I' ve been offered a refund of all interest paid , plus 8%simple interest.how is this worked out- is it 8% of whats owed or 8% for each year since i settled the loan ( in this case about 5 years ago).thank you

PartyPoison

Stats72 wrote: »

Hi.i' m new to the site.anyone had any success with sunny? I' ve been offered a refund of all interest paid , plus 8%simple interest.how is this worked out- is it 8% of whats owed or 8% for each year since i settled the loan ( in this case about 5 years ago).thank you

This is a direct quote from my mail from Wonga, so not Sunny but its the same for all of them:

"Interest of 8% simple per year has been added to the total redress for each loan from the date the loan was taken out until the date of calculation."

misspinks

Hi, I'm new to this site so not quite sure how it all works. I was just wondering if anyone had any loans with payday express? I recently put in a complaint to them regarding affordability but they didn't uphold my complaint so have forwarded to the FOS. It looks like I may be in for a long wait as quite a few of my loans are older than six years. I know I'm jusmping the gun by calculating what I may get back if my complaint is upheld but does anyone know if "the refund of interest and charges" included the faster payment fee charge of £15? I must have paid this at least 30 times to get the money in my account faster or is this money I have now lost?

PartyPoison

misspinks wrote: »

Hi, I'm new to this site so not quite sure how it all works. I was just wondering if anyone had any loans with payday express? I recently put in a complaint to them regarding affordability but they didn't uphold my complaint so have forwarded to the FOS. It looks like I may be in for a long wait as quite a few of my loans are older than six years. I know I'm jusmping the gun by calculating what I may get back if my complaint is upheld but does anyone know if "the refund of interest and charges" included the faster payment fee charge of £15? I must have paid this at least 30 times to get the money in my account faster or is this money I have now lost?

Based on my experience, Wonga have returned interest and fees - which included the transaction fee. So I would assume they do refund that (I think because they accept they shouldn't have sent the loan, you wouldn't have paid it if they didn't issue it if that makes sense) but I'm afraid you will need someone who has dealt with them to confirm 100%.

misspinks

Thank you for your response. I've tried many different searches to try and find an answer but don't seem to be able to find an answer where someone has got it back. I'm not overly worried as I paid a lot more in interest but it would make a difference if it is to be upheld. In my opinion it should be as they let me have £160 to start with but allowed me to roll that over several times paying interest only if £40 then a couple of months later it was increased to £280 then a few more months later £750 and considering I had a failed IVA, several catalogues outside of that that were behind and about 10 other payday lenders. Anyway that is my wishful thinking still don't know whether the ombudsman will be able to look at it yet so fingers crossed and thank you again for your reply

GDN

misspinks wrote: »

Thank you for your response. I've tried many different searches to try and find an answer but don't seem to be able to find an answer where someone has got it back. I'm not overly worried as I paid a lot more in interest but it would make a difference if it is to be upheld. In my opinion it should be as they let me have £160 to start with but allowed me to roll that over several times paying interest only if £40 then a couple of months later it was increased to £280 then a few more months later £750 and considering I had a failed IVA, several catalogues outside of that that were behind and about 10 other payday lenders. Anyway that is my wishful thinking still don't know whether the ombudsman will be able to look at it yet so fingers crossed and thank you again for your reply

Yes you will be refunded the fees.

baggybreeches

Hi everyone a further update from me.
The FOS ruled that Lending Stream should refund me on 23rd of Feb. LS have strung this complaints process out so much it's unbelievable. I eventually got the refund calculation off them yesterday after being promised by last Friday, then Monday this week, then yesterday morning 'as a priority'!!! Yesterday at 4.30pm I rang up to be told it would be with me by the end of the day. I said I didn't believe them so I would hold the line until they sent the calculation! They said it could take up to 15/20 minutes, 'no problem, I've been on the phone for 45 minutes most days for the past week another 20 minutes won't hurt'!
15 minutes later the email calculation arrived. I forgot that I had only borrowed £80 and they had put up all this resistance and nonsense to save themselves £106 :rotfl::rotfl::rotfl::T
Anyway I am due to ring them again now to chase up the payment (it's a matter of principle now).
So if you are dealing with Lending Stream, don't give up but be prepared for a very long wait!
Also the FOS agreed with me about 5/7 of my Payday Express loans so I'm waiting to hear from them. And the Maltese OFAS have had a response from Northway so I hope to hear from them today.