Student loans and pensions

mrcactus

Hi all. I think this is possibly my second post on this site, as I mainly read other people's stories and comments but fail to actually do anything about my own debt situation myself. Massive apologies in advance as this is going to be a long winded bit of writing but I want to put as much info on my current situation as possible so you get the full picture.

I've just landed on this thread originally posted by Woody and read alot of the comments about other people having great success in being offered refunds from various payday loan companies. I want to start the ball rolling myself as my debt situation has got so bad that some days I've seen no way out and even considered ending it all.

I'm not that intelligent and always seem to do things wrong (hence why I'm here :rotfl: ) so I want to make sure I do everything by the book to see if I can get some money back out of these :mad: people lol.

So, like many on this thread (or site for that matter) I fell into the payday loan borrowing cycle a few years ago and has got nothing but worse ever since. Loan after loan after loan. I never fell behind on these rediculous monthly repayments, why? because of course I borrowed from another lender to pay off the other and have done that for about 3 or 4 years now.

When I've used these more than once, I mean when I have finished the last monthly payment I've gone straight back on their site and borrowed again, often for larger amounts than before and sometimes for longer.
Below is what I roughly owe, the monthly repayments and how long I have used them (if it makes a difference):

Uncle Buck: £306.20 (£35/month)
Used over and over again consecutively

MyJar: £200.48 (£50.12/month)
Used over and over again consecutively

Lending Stream: £437.30 (£168.92, £103.44, £89.72, £75.22)
Used over and over again consecutively and often had 6 loans running at the same time

Swift Sterling: £33.76 left to pay next month
Used 3 times consecutively
Pounds to Pocket: £91.91 (£45.99/month)
Used twice on 2 seperate occasions

PiggyBank: £128 left to pay next month
First time used

Ferratum: £107.20 left to pay next month
First time used

Fernovo(Quiddie): £650.08 (£162.52/month)
Fisrt time used

Safety Net Credit: £600ish (£27/month roughly)
Used all the time. Had to switch which account my pay went into to stop them taking most of my wages so now only pay their 'minimum' amount each month.

118money: £1042.02 (£115.78/month)
Fisrt time used

Personal bank loan: £134 per month (couple years left on this)
Nothing wrong with this really

I earn just over £1k per month but the minimum payments on these loans, combined with my bank loan repayments and my 6 credit card payments (that's a different story again), phone contract, it eats up almost all of my wages. I'm talking (if I'm lucky) that I'm left with £50 for the month. I live with my parents and at the moment, don't pay any rent at the moment.

When applying for these payday loans I have lied on most of the application forms where it asks what your monthly credit commitemtns are. I usually just put £200 in there. I never lie about how much I earn - I always keep that at the same figure. If I put that I earn £1k, pay out a total of £350 (credit commitments, food, rent, bills etc) wouldn't the 'lender' 'think' why does this person need a loan of £200 over 3 months when he has £650 spare income?

Also, if it's worth mentioning that when I re-apply for a new loan with the same company (if the income and expenditure form isn't already filled out) sometimes I can't remember what amounts I put into the boxes. For example: last month I may have put that I pay £100 rent, and £150 credit commitments, then this time I may have put £50 rent and £200 credit commitments. Does this not raise flags their end as the amounts keep changing?

My credit file is shocking. Surely the lenders could see such sheer amounts of lending on there when they ran that 'check' to see if they could afford to lend me the cash that I asked for? I don't really know what they can see on there when they do these checks.
I have a defaulted credit card with my bank which I am in a payment plan with to pay back £40/month, but that shows up as a default marker each month on my file...so didn't they see that!?

Just wanted to say again, I have always made payments on time.

Sorry to babble on. Do you think I would have a chance at sedning emails, letters etc asking for refunds/debt to be wiped off? I've been on DebtCamel and looked at the example letters on what to send them but am nervous and a bit confused on what to put. I want to get my facts in order before I go shooting my mouth off then looking like a complete numpty when in fact I didn't have a leg to stand on in the first place :rotfl:

Many thanks in advance, and sorry for the long post

hoppy007007

Hi All
I have just sent off the emails to Quick quid, Uncle buck and pounds to pocket. It was not a massive amount, think I borrowed no more than 3k in total, I would pay off the loans as agreed but would pay with credit cards so did not miss any payments but obviously got in more debt. Was in a debt management plan from 2012-2017.

Lets see what they come back with.

Hoppy

meifodman

Hi,

Great to see so many success stories.

I have sucessfully reclaimed arounf £1800 back from Wonga last year and also around £1100 from Payday Uk and Payday Express (combined).

I have had a DMP in the past and stupidly got payday loans from WageDay Advance and Safety Net Credit after I had started the DMP as I was having issues at the time.

Am I able to claim for these as they shouldnt have lent to me due to the debt I had and should have seen this, or will I get in trouble as I didnt tell them about the DMP?

Thank you for any advice you may have.

Fiona_CW

I have put in complaints to a few payday loan companies. Quick quid have rejected my claim because although I had several loans from them in a short space of time, the amount I borrowed did not increase so I could not have been in difficulty! They ignored the fact that I had larger loans with other companies. Is it worth going to ombudsmen?

DebbieJohnson

That is exactly what QQ said to me a few days ago Fiona and I am wondering whether to bother sending it to the FOS.

Fiona_CW

I think I will - nothing to lose

Willing2Learn

Fiona_CW wrote: »

I have put in complaints to a few payday loan companies. Quick quid have rejected my claim because although I had several loans from them in a short space of time, the amount I borrowed did not increase so I could not have been in difficulty! They ignored the fact that I had larger loans with other companies. Is it worth going to ombudsmen?

DebbieJohnson wrote: »

That is exactly what QQ said to me a few days ago Fiona and I am wondering whether to bother sending it to the FOS.

Fiona_CW wrote: »

I think I will - nothing to lose

Exactly - Nothing ventured, nothing gained. No harm in going to the FOS

DebbieJohnson

Willing2learn I was thinking there was nothing to lose but would you get in trouble as at the time I am sure I didn't write the correct amount I paid out each month? Thanks

Willing2Learn

Are you saying you used incorrect figures for income and expenses on your original credit application? That might be an issue...

DebbieJohnson

Yes at my worst I had about 9 PD loans at the same time and I am pretty sure I didn't say the correct amount I was paying out a month