Student loans and pensions

Jayenncee

Hi this thread and Debt Camel have given me so much hope. Thank you all.

Has anyone had any experience claiming back or renegotiating with t m advances? Although not a pay day loan I wondered if the same templates can be used Their interest rates are astrononical and I will be paying back more than 3 times the amount of the initial loan over the course of 3 years. Any help would be great ileven if it is a redirection to another thread

:money:

Jayenncee

As regards my subject access requests

Wonga - have failed to give me the breakdown that I requested: they only have me a list of my loans and the amount that had been paid in total and the date the loan closed. I have asked for the date that each sum was paid so that I can calculate the interest accrued. They also said that they will respond in 42 days. I reminded them that I have 49 days until I refer to FOS. Watch this space

LS- they sent me everything and said they will be I. Touch again by 2nd August

QQ- They responded to my request by requesting payslip.
I refused.

They provided access info on same day
Second complaint letter sent 2 days later Qq Sent complete statement of account and now I am waiting for a response or until the 8 weeks are up so that I can
refer

All complaints sent on same day roll on the end of August

DanielJones18

Hi all,
I am in the process of complaining to a number of lenders, some have been successful, some not so. A brief overview of my situation; lots of loans with various lenders, nothing too big, most about £100-£350 (£350 was the max). I was lending to pay others off, and not telling anyone, so I was putting in false income information on applications in the hope it wouldn't be checked. Most places haven't mentioned it at all, but I have had a response from 1 lender who have basically threatened me.
Piggybank have sent through their final response, and in it sent the following statement:
"Please also be aware that the T&Cs that you agreed to, mention fraud and a fraudulent application; 'If you give us false or inaccurate information and we have reasonable grounds to suspect fraud or we identify fraud we may record this and may also pass this information to FPAs and other organisations involved in crime and fraud prevention to prevent fraud and money laundering.' Your complaint states that your income was considerably less at £500 and your outgoings were £300. Had you provided these figures to us PiggyBank would not have lent to you."
They also mention that I 'irresponsibly borrowed' money from them. My question is, are they putting all this stuff in to try and put me off from complaining to the FO, or is it legitimate and should I hold off complaining as it could hurt me further in the long run?
Thanks
Dan

safestored4

Their response seems perfectly correct. You made a fraudulent application to obtain the loan by overstating your income. Pursue this further and it may well come back to haunt you.

Dot.007

I would leave it

june2rose

Perhaps I'm being naïve in my response but isn't it up to a responsible lender to make all the necessary checks on the application submitted by the potential borrower to ensure that the application submitted is not fraudulent and the borrower is in a position to meet the terms and conditions provided and the repayments set out to settle the loan amount applied for by the borrower? There's enough credit agencies and checks out there to prevent any potential fraud by a prospective applicant would you agree? If the lender was to be as responsible as one would expect carrying out all the necessary checks to eliminate the chances of fraud happening there wouldn't be such a problem as there is with all the misery and distress being endured by borrowers in their time of desperation that has led them to fall foul of those lenders determined to take advantage of their situation to entrap them.
We must consider the accusation that the borrower is much more of an asset if they default rather than those who meticulously adhere to the terms and conditions of a loan agreement and keep up regular payments. One could express a view that these " loans " are geared to those in dire straits who ignore common sense because of their situation and desperately grab a last ditch loan at ridiculous repayment conditions resulting in default at times with the horrendous consequences which is more prevalent in these types of loans. This is the last ditch saloon as there is no other way of getting credit so conditions take a back seat and reason goes out the door. I see no problem recouping monies extracted unfairly and under duress to stave off a knock at the door. There was no problem granting a loan to an individual that didn't meet the necessary criteria expected in the industry by the majority of lenders who have signed up to a code of practice deemed appropriate. Go for it I say, get your money back where you can.

LOVEHB

So I am really close to being debt free (14,600 starting point and now only have £532 left) I have been doing some investigations into my finances. I stumbled upon this thread and have been doing some digging from there, I utilised 2 payday companies one for 3 loans and the other for.... 28 loans over an 18 month period yes you read that right 28!! Im an idiot I am well aware, I just did not realise the extent of this until today. Im clear and paid up but ive worked out I borrowed around £5000 from the lender with the 28 loans. Now ive put in an SAR to see how much interest I paid but it would appear that ive probably paid back in the region of £4,500 in interest too. I am actually in shock that I paid this money out and it is now absolutely clear why I ended up in a DMP. Spending way above what I could afford in loan and credit repayments. Does anyone have any insight in how Sunny and Lending Stream handle these sorts of irresponsible lending claims? I have found a couple of ombudsmen reports but wondered if I could hear back from people on here first hand as to what happened. I have submitted a request from my old bank for statements (all online and when I started the DMP they closed my account and I lost all access to my paperwork). Thanks guys so much.

DebbieJohnson

Hello,

I am new to the site and have read through all the pages of this thread.

I like many others have been in the pay day loan trap for around 3 years. I am out of it now but I have paid thousands and thousands of pounds in interest over the three years.

I signed up to resolver and have emailed 9 different pay day loan companys with the standard template I have found.

I have started to get replies back saying they are looking into my request, I just wondered as looking through the thread it seems like it's a lot of hassle getting money back? I almost feel cheeky asking for it as well because although I should never of been allowed them at one time all of my wages were going to them and I had to keep getting new ones to pay I feel like it was my fault I was so stupid?

dizco

Hi All

Is there a limit on how far back I can claim? Most of my loans were taken out in the period 2009/10 to 2012.

GeeGee56

Please could you let me know how you went about this as I have had several of these loans in the recent past.