Student loans and pensions

Delete33

Hi mrs_ryan. MYJAR have been helpful as far as I have seen. Just the waiting game that is so frustrating. It may be worth the waiting though.

DizzyExponent1

Just had a response to my first and only complaint so far to go to FOS - Had A lot of loans with Peachy loans back in 2012, re-borrowed from them over and over again for about 8 months.

Anyway just had the FOS on the phone who have said as these loans were taken out prior to 2014 the lender did not have to complete such stringent checks when choosing who to lend to and the fact that I told them I had disposable income in my application means ultimately Peachy have done nothing wrong and the blame lies with me as the consumer.

She said if these loans were taken out post 2014 I might have a case but not as it stands. I did mention that surely they should have still seen all the defaults on my credit file at the time of application but I was told that regulations at the time meant in theory Peachy did not even have to acknowledge these as I told them I had enough disposable income.

Complaint not upheld by FOS which is a shame, maybe they are receiving so many of these types of complaint they are changing the way they look at them?

DizzyExponent1

And the follow up email:

As we discussed earlier I’m just confirming our conversation with an email.
Payday lending’s guidelines at the time of your loans were very different. From the information they have provided to me I am satisfied that they met these guidelines .

With this in mind , I can’t see that the business has acted incorrect so I will now close your complaint.

justinsrival

What did you tell Peachy that you had as disposable income, DizzyExponent1?

Was it that you said you earned more than you did?

debtfree2016x

Is it correct that if FO looks into a complaint then the pdl company gets charged a fee?

Delete33

It is approx £510 the fee from the FOS.:T

McClane54

redfragglebiker wrote: »

Hi there Mclane54

I used the template letter and email addresses on the debtcamel website and tailored it to my own situation. Peachy came back within about 48 hours with a standard "you signed to say you agreed to it" email so I referred this to the FOS who asked me to fill out a form.

I've just emailed the rest of them using the details on the debtcamel website. Only emailed yesterday so apart from the standard "we have received your complaint" automated email I'm yet to hear. If you've got any questions the debtcamel forum is really good.

thank you for your reply, i had this from quickquid , what should i do next?



Thank you for contacting QuickQuid. The contents of your email were duly noted. We apologise if there was any delay in responding to your complaint.

Your query raised several questions on loan affordability. In order to better assist you, we ask that you fill out the below information so that we can thoroughly review and respond to your complaint.

Questionnaire

1) Recently, we have seen an increased number of complaints where the complainant has obtained a template from a website or blog. Did you use a website template? If so, can you please provide the name of the website?

2) Did you tell us that you were experiencing financial hardship? If so, when did you tell us of your financial difficulty?

3) Please provide a copy of a bank statement from the time of your loan(s).

4) Please provide a copy of a payslip from roughly the time of your loan(s).

Once we receive the information back from you, our complaint team will diligently review and assess your complaint. As you will see from our complaint procedure, we have eight weeks from the date we receive your complaint to send you our ‘Final Response’. If at that time you are still unhappy with our decision, you will have six months from the date of our 'Final Response' to refer your complaint back to the Financial Ombudsman Service for them to adjudicate in the matter on your behalf.

For more information about our complaints procedure, please visit the 'Contact Us' section of our website (https://www.quickquid.co.uk/contact-us.html).

If you have any queries, our Final Resolution Team is here to help.

Yours sincerely,

sourcrates

debtfree2016x wrote: »

Is it correct that if FO looks into a complaint then the pdl company gets charged a fee?

Yes,


If any regulated business has more than two complaints per financial year, which requires resolution by the FOS, the business is charged, currently, £550.00 per complaint.


Which would make you think they would be keen to settle complaints before they get to that stage, however most firms set aside funds for this in there business model anyway, they also rely on the fact that half of people who have there complaints rejected, give up at that point, and never approach the ombudsman at all.


So for the price of a stamp, you have a 50/50 chance of getting something back, and the satisfaction of knowing your costing them money by doing so.

DizzyExponent1

justinsrival wrote: »

What did you tell Peachy that you had as disposable income, DizzyExponent1?

Was it that you said you earned more than you did?

I told them that my rent was less than it was so that my disposable income appeared a couple of hundred pounds more and therefore the ombudsman says it is in no way their fault.

Fergie42

So glad I found this post. I sent off the e-mails yesterday and only then did I realise I had 14 payday lenders!! I wrote to them all in March 14 explaining financial difficulty and some let me pay the balance off interest free and some completely ignored me and are still chasing the loans through Motormile!
I'll let you all know how I get on