Student loans and pensions

Ginger.ice

moley1507 wrote: »

Hi this thread is a lifesaver !! I am trying to reclaim from various payday loan companies. I'm ashamed to say we got into trouble with them and just totting up between 2008 and present we have paid 7,700 in interest to QQ

What sort of percentage of interest are people asking to be refunded ?

I have put a complaint letter into QQ and am awaiting my details from Wonga and Sunny

They knew we were having difficulties and still continued to lend, so in my opinion it was irresponsible lending.

N x

I think it is wholly reasonable for you to request ALL of the interest and fees back from the point that you feel they should have known that you were in financial difficulty and/or using these loans beyond 'short term' and 'occasionally'.


Any of the following should have been flagged up by them as indicators of financial difficulty, and as such they should not have issued the loans. By doing so they will have made your situation worse:
Taking out loans on a regular basis, rolling loans over frequently, taking out loans with more than one payday lender, missing payments, taking out larger and larger loans each month (purely to cover the previous month's interest).


If any of these were happening then I feel you could expect to reclaim all of the interest and fees from the very first instance which you would consider an indicator of financial difficulty. If I was you I would request it all back in the first instance. QQ have a habit of offering a 'gesture of good will' somewhere in the region of 10% of the potential you are owed. If they do this send it straight to the FOS.


I reckon you could be in for a big one.

Delete33

I agree Ginger.Ice, I have noticed that the FOS usually say the first few loans were affordable in a lot of cases. I am waiting to read posts regarding successful outcomes with QQ and PDUK, if these two cave in then I think we all have a good chance of a speedy resolution.:cool:

Ginger.ice

I was in a similar situation with QQ and Pounds to Pocket (at the same time). This is currently in the hands of the FOS.

Delete33

Hope the FOS take them to the cleaners, will be interesting to see how QQ perform.:cool:

dktid

Hi Delete33.

Wonga got back to me and said that the email received was their full and final offer. So I've got to decide whether to take £400 and run or get potentially £0 or £1200 if I go to the FOS.

QQ said no right at the very start so I'm taking them to the FOS anyway.

Decisions, decisions.

Boatdweller

Wonga just forwarded me the email they sent me on the 10th. No update or timescale.

Do I take the 8 weeks from the date I first sent my complaint or from the date they acknowledged it as they took about 2 weeks to confirm they had allocated my file.

Delete33

Go from the 10th boatdweller.

Delete33

dktid, be prepared for the long haul, certainty with QQ.:cool:

Ginger.ice

Wage day advance finally crumbled!!!!


They offered full redress for all but the first 2 loans. I had 8 loans with them and the redress is over £900.


This now sets the bar. According to my FOS adjudicator, if they hadn't done a full credit search I may not have had much grounds for complaint, as they would not have know my financial position. (personally I think this is a huge cop out as it does nothing to independently verify that the loans are affordable, but that is their stance and it is what WDA will always hide behind).


But the fact is that they did do a full credit search prior to my third loan and therefore they should have known my situation. This means they either chose to ignore it or they failed to check it properly. Either way, their process failed and allowed someone in truly dire financial difficulty to access unaffordable loans.


Next on the list is Uncle Buck, who I have proof checked my credit file before each loan... so that should be clear and simple.

Delete33

Brill!!!!!!!!!!! Ginger.Ice, Uncle Buck paid me straight away, I sent them a complaint with my credit report, they did not spot a default on my file. However they still claimed that they didnothing wrong and paid as a gesture of good will. I only had 2 recent loans with them, £400 quid was a great result.:j:D