Student loans and pensions

tibawo

So glad to read the success stories as they are keeping me focused.


I am also strangely finding it reassuring that other people got sucked in to getting loans, although I am free from the payday loan cycle and desperate at the time that I got one that then rolled on. Knowing this thread exists makes me realise we can all do daft things but learning from them is the key. i would never get one again and would rather do without and i never knew about token payments in the months i did struggle. although my finances are not where i want them to be i have learnt a lot on my journey.

Delete33

That is a lot of cash worth fighting for RingoC, dig in and get set for battle. Do not ever think of giving up, you will be rewarded for persistence:cool: and patience.

RingoC

Thanks for the motivation!

Based on those figures, what would you generally be looking at? Obviously I'm missing the Wonga figures from that too which will be a hefty amount too.

The concern I have with it will be that I had very few missed payments across 6 years - but I did have 1 default (from 2010) and my borrowing went up to make ends meet. At one point, I wasn't paying council tax to the point of summons and had to borrow even to cover this as a result of the PDL cycle. This should have been clear to them due to the amount of back-to-back loans which ever increased to pay off their fees / interest.

At the time I saw them as a neccessary evil, but as a result I have lost my family, home and now having to bring myself to terms with my debts in another way through a DMP. I'm not sure how the 3 PDLs I have now will take the DMP, but bah nothing else I can do realistically

RingoC

Update: Have now fired off emails to all 6 companies. Fingers crossed!

Delete33

Hi RingoC, every one has different complaint amounts. If you get an offer it is up to you to decide whether to take or escalate to the FOS, judging by the comments on here and DC I think QQ and PDUK will try to fob you off with a small offer. Its all up to you in the end, however just consult with other posters on MSE and DebtCamel to judge if you are being offered a reasonable settlement figure. I am into week 7 with QQ and PDUK and expect nothing, so I will probably have to go through the FOS service. I have patience and time on my side, I owe these predators nothing.

Bruster

Jesus.. It's not half scary when you tally stuff up. Around week 4 of all complaints. One example, I calculated through looking at bank statements, but got wonga's statement of accounts recently. Paid 4.2 interest in 3 years. Throughout all lenders I'm at around paying 20 interest in 3 years. No wonder I'm skint.

Delete33

Soon adds up Bruster, to an almighty sum of cash!!!!!!!!!!!!!!!!!!:eek:

2catsandcounting

wahoooo!!! i've had some success!!

Sunny have upheld my complaint, wiped off my remaining balance and removed from my credit file.

the remaining balance was £670, on a £600 loan so i'm happy with this. (edit: worked out interest paid was £611 so super chuffed!)
Just waiting for Wonga to get back to me know, thats the big one!! they've got another 2 weeks or so until the 8 weeks is up and i still need to take Satsuma to FOS as they knocked back my complaint. But since that was the last one i took out, and i never made a payment before going into DMP, I'm sure the FOS will uphold it.

Delete33

Happy for you louised, :j:beer::rotfl::T:)

2catsandcounting

What are people including as evidence in complaints to financial ombudsman? So far i've included the credit agreement with Satsuma, and the other credit agreements for various other loans i had at the time.
A copy of my credit report off noddle. (I can't think of a way of getting the report of there so i've screenshoted the various pages and put in a word doc. Thought about copy and paste, but i could edit that so they might not believe its accurate.)
i'm also going to add a copy of my payslip from that time, so show my income levels. i've changed bank accounts since, so don't have access to old statements, so can't include that.