Student loans and pensions

big_al_1981

The following section is part of the final response I received from SNC, I love the bit where it says yeah we cud see u had a couple of defaults blah blah blah


Prior to you being approved for an account we conducted a full credit check with the information provided by CallCredit. These checks showed that you had no CCJ’s and a moderate amount of overall debt. Whilst we could see some defaults these did not deter us from lending to you because we had the transactional data that showed credit was affordable. This is part of the philosophy of our business, namely that consumers with impaired credit histories should not be denied credit simply on the basis of their credit history. By conducting in-depth affordability assessments which go way beyond what anyone else on the market does, we can properly determine whether credit should be provided.
On this basis we do not believe that we should not have lent to you and that your account has been handled in the correct manner. Therefore, no form on redress is warranted.

kc4

Hi All

I have recently been redundant after working mad hours and away from home a lot with little or no time to consider putting in claims against my huge catalogue of payday loans (once in the washing machine, hard to get out).

On the resolver application it asks for a date of loan... thing is I have taken out several loans with various companies! Do I have to make a submission for each loan with each individual date?

Also, would it be wise to attach a PDF of my credit history showing the mess i got myself into... I know that they will see figures etc BUT if this backs up my claims then I don't mind them seeing.

I look forward to your replies and help with the above.

Kath

big_al_1981

Hi kath

I submitted my credit report to the FOS they can see on there wot loans were taken out then,also there will be evidence of them on your bank account statements if you send them across to them,as long as they are within the last 6 years it shouldn’t be a problem

big_al_1981

I saved both of these as pdf and sent them across 👍

kc4

big_al_1981 wrote: »

I saved both of these as pdf and sent them across 👍

Hi Big Al 1981

Thank for your advice. Will definitely send it with the application now.

Fingers crossed I see some cash back.

Kath

TLJones

Erica6p6 wrote: »

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

Hi Erica,

If they don't think they've done anything wrong, why would they offer to settle your account with £600 outstanding 'as a gesture of goodwill'? If they are confident that they aren't in the wrong, losing out on £600 makes no business sense to me at all and makes me think they're trying to mitigate how much they'd owe you if your pursued them fully.

You need to weigh up what's worth more to you: an easy, guaranteed £600 with a partial settlement on your credit file, or a slightly riskier ~£2,000?

I would personally pursue them for more, but my financial situation is different to yours and I can 'afford' to lose £600 whereas maybe you can't.

Pidge80

Hi, I've had a response from quickquid asking for pay slips and bank statements back to my first loan in May 2013. Do I really need to get 5yrs + of bank statements to them?

TLJones

I told them that I was unhappy sending copies of payslips and bank statements due to their sensitive nature, and would only be willing to include them when dealing with the financial ombudsmen if they were adamant that they be factored in. I did send a pdf copy of my credit report from Noddle though. This showed all loans and credit activity around the time they were giving me loans, as well as frequency etc. I received an email back saying what I had provided was just fine.

magpie777

Update

With 15 complaints sent to various companies I have had varying response.

Satsuma have not held up my complaint, they have given break down of credit checks made and it seems that these were technically affordable. Satsuma was one of the first companies I used so at the time I didnt have many other loans.

Myjar have taken the same stance but I believe I had higher levels of debt when I had loans with them.

PiggyBank have agreed that 2 out of 5 loans were unaffordable and have offered a redress of the interest totalling just under £215. I didn't have much dealings with these so I am tempted to accept this offer as a start in my reclaim process.

12 Complaints are still in process , I intend to contest the guiltier parties who I had excessive repeat borrowing with.

Should I escelate the Satsuma or MyJar claims?

Thanks,

John

craig_Bond

Need some advice!

I have been trying to reclaim fees from a few pay day companies. Using the resolver tool. 2 paid up happy days. One is now defunct.

Main ones I had was all money shop so pay day Uk etc. After months they have finally sent me a final response but I’m not happy at all so going to write back. There final response decision was -

My Decision:
We handle complaints following rules set out by the Financial Conduct Authority (FCA).
One rule is that a customer must complain within 6 years of the problem. Another rule is that if more than 6 have passed, you must complain within 3 years of knowing you could complain about the problem.
I can see that all of the loans that you are complaining about are more than 6 years old. So for me to consider these loans, I need you to tell me why you didn’t complain about these loans until now.

Now I didn’t even know I could claim back until back end of next year. But is this enough to go back with? What have others done? I don’t understand how a final response to me can be a question! Any help please.
Thanks