Student loans and pensions

debtfreedomlife

Hello All,

Would anyone have any info how to go about recouping possible funds from former payday loan companies in the US? Like many here, I allowed myself to get caught up in acquiring several loans from different payday loan companies in the early 2000's. All the loans were eventually paid in full and I believe some if not all have either moved or went out of business. From what anyone may know of or has completed serious research on this, can funds somehow be acquired even though a payday loan company went out of business?

I never really thought about the possibility of recouping any money from a payday loan company before, the intial thread years ago helped jump start my thoughts on this.

Thank you for any response on this regarding. Take care all.

V/R

Debtfreedomlife

Changingtimes

At my wits end!
I will try keep it brief.
Complaint upheld 29.11.18 and £2242 was to be waived. I informed them thanks but I had paid £1250 off this amount and there was £982 outstanding. The debt was with DCA who I paid the amounts to. Eventually agreed the £982 would be sent back to creditor and wiped but the £1250 I would get back from the DCA.
DCA telling me I have to make an indemnity claim via bank to get this money!! This surely.only relates to single DD unauthorised or paid by bank in error not to get a refund following a complaint?
So original creditor passing me to DCA, DCA passing me to indemnity claim. Any advice welcomed.please.

Fiona_CW

I got an email from Wage Day Advance today. They have accepted my complaint and will refund all the interest I paid on my loans plus interest!

holypockets

Hello

Looking for some advice and input please - I’ve read through a lot of the comments in this thread - but not sure home many of them apply to my situation.

So, I’ve had PDLs regularly since 2011 - always at least one on the go and been upwards of 9/10 at some points. I was a classic case of getting stuck in the cycle - it was easier to roll over than repay and just keep putting it off. I was very rarely turned down until recently and was so sure I would be able to get loans I would be be taking them out to fill the gaps in my wages other loans cause.

I take a lot of the responsibility - I could have been very tough on myself, asked for help from family and worked hard to get myself out of the cycle. Most companies in the past have eventually been able to put me in payment plans, some more leiant than other - and some have flat out refused. Im in my final 6/12 months of PDL - im finally paying everything off and getting myself out of the cycle. Party due to not being able to get any more and my lifestyle has change a lot. Plus, I went through a separation which I relied heavily on PDLs on - and now that’s mostly over my financial situation is mellowing.

To add to this - I felt like I hit a lot of the red lights in the past with companies, allowing to repeatedly bowwow, extending/rolling over/topping up loans with no/little checks, I was encouraged by some to extend loans (I would even get call asking asking me if I wasn’t to extend), received little help when I ran out of money, I was even able to take out more loans after being on a repayment plan. To a degree - I took advantage of the lack of checks. I would often need money and just try my luck on sites that I knew were easier to borrow from than others.

Anyway, last week I went on the Wonga site to contact them regarding my payment plan and saw all the info about administration and notes in iiresponsble lending - prompting my to complain to them directly. To be honest, I didn’t realise I could complain - so I’ve since been emailing all my lenders - past and present stating I feel like I’ve been lent to irresponsibility. I’ve not used a template - I don’t have all the info to hand some I’m also asking for lists of loans and costs etc.

So, finally with all that in mind - what does my situation look like? Am I likely to receive refunds? What will they ask for? Will they ignore anything older than 6 years?

Thanks.

Fiona_CW

https://debtcamel.co.uk/payday-loan-refunds/ I found this site really useful and used their templates for my complaints.

TLJones

Hi everyone,

I've only just heard about claiming back for payday loans. I've sent the initial email template out asking for my account details from Wonga, Pounds2Pocket and Sunny and awaiting replies.

Is the general consensus that getting anything back from Wonga is pretty unlikely?

jennyz123123

Has anybody ever had a successful claim against provident?

Erica6p6

Just received a response from SNC stating
However, having reviewed the complaint and understanding the situation that you find yourself in, as a gesture of goodwill, we are willing to write off the remaining balance owed of £600.00 in its entirety. This means that repaying the outstanding balance will be waived and the account closed, drawing a conclusion to the matter. This will also be marked on your credit file as ‘Partially Settled’.
Given, as we have explained, we do not consider that we were wrong to lend to you, we consider this to be a generous offer on our part. In order that we may write off the balance please can you send us your consent to our offer. If you do not provide consent the balance of £600.00 will remain payable.
Our offer is made on the basis that it is in full and final settlement of your complaint.
As this is now our final response to your complaint if you remain unsatisfied you have the right to refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of this letter. They can be contacted at the address detailed below by post, phone or email.
If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances.

Over 44 months they loaned me nearl £12k with interest of nearly £2k (approx 169 loans off them) I had to keep using every month has the amount they where taking out of my account meant I had to borrow again
Should I reject and go to ombudsman

Moneymarksthespot

Hi is this just for historical loans ? I took at a loan just over a year ago when I wasn’t in the best place. To say I was desperate was an understatement. As a result I’m paying back more than double what I borrowed. I can’t help feel it has to be or needs to be made illegal to charge people these interest rates. My loan was for 4K and I’m paying back nearly 9. I’m not just an irresponsible person as some might think. I litrally had nobody to turn to and faced being on the streets if I could not get the funds together to rent !. I work and have a good job , but I did end up with bad credit by stupidly helping someone with a loan.So when I found my self needing one for myself I had no choice but to take a high interest loan. In the time of taking it out all I could think if I don’t get this loan I will be sleeping on the streets with in a few weeks. I’m keen to not only sort my own finances but try and prevent then voltures praying on volunerable people so trying to educate myself on interest rates. Any info would be helpful.

big_al_1981

Hi,newbie here but have been following this post since November when I found out I cud reclaim from payday loans,having read back thru all the posts it all sounds quite positive and great to hear people having lots of successes.i found myself in the payday loan trap from my initial loan from payday express back in 2010,then just got out of hand then by the end of 2013 I had 6 Payday loans on the go at one time,borrowing from each other to pay the other,a nightmare cycle impossible to see the light.
So my loans were with
Payday express - interest paid approx £3500
Quickquick- interest paid £3400
Lending stream- interest paid £4000
Safetynet credit- interest paid £3200
Wageday advance-interest paid £850
Wonga- interest paid £1195 ( complained but as they are no longer trading I am just a creditor in a very long line- maybe see sumthing maybe not)
Anyway after stumbling across this thread in November I thought I’m going to complain to all these,git my template letters from debt camel and emailed them all,they all pretty much acknowledged complaint apart from payday express,right upto the 8 week mark they sent a reply saying they were unable to locate my account and will send their final response in another 8 weeks,so I sent that off to the FOS.
I got a final response from QQ saying they have upheld my complaint ( this was about 5 weeks into the 8 week mark) and will refund me £3200,so I accepted and the money was in my account the next day.
All the rest came back and said they aren’t upholding my complaint so I sent them off to the FOS. it was only lending stream that came back and said they are upholding 4 out of the 26 loans I had with them,offer of £698,so I thought wot about the other 20+ loans ( the first loan I think isn’t taken into account )so I sent that off to the FOS. All these are now with the FOS and I sent these off 2 weeks ago ( also wageday advance came back after 8 weeks saying can they have more time and get back to me within 4 weeks) I told them no so that’s is now with the FOS,they wudnt giv me a further 4 weeks to pay the money back all those years ago.
Will keep updated about my outcome
Was good to read posts by sourcroutes,delete33,fresh start. By the way if your reading this delete33 did u ever get ur complaint sorted and money back from payday,I know u had to wait over a year,also fresh start wot was the outcome of your complaint with payday,last I read u were looking to get £14000,wot ever happened to that?