Moneyshop ICL redress claim

yorkielovit

This is my first post in a long while.
I had 64 loans with Moneyshop 2007 to 2017. I submitted a claim under irresponsible lending which was refused and I stupidly didnt take it to the ombudsman due to family illness. I have just had a letter stating that under the ICL redress scheme my claim has  been upheld and the potential redress amount including interest is over £12k. I know I am only likely to receive between £500-£600 and I have the option of accepting or appealing. If they had upheld it originally or it had gone to the ombudsman I would have seen a decent return which could have helped me to reduce other debts, so would appealing be the right thing to do. However, 3 years on if I accept I would be getting something from money I had written off. Many thanks

[Deleted User]

64 loans from the same lender in 10 years and they are to blame? 

yorkielovit

I posted for advice not for your ridicule, wont.make that mistake again.
Have a nice day

SpreadableToast

yorkielovit said:

If they had upheld it originally or it had gone to the ombudsman I would have seen a decent return which could have helped me to reduce other debts, so would appealing be the right thing to do. However, 3 years on if I accept I would be getting something from money I had written off. Many thanks

You could have taken it to the Ombudsman but you didn't so it's irrelevant what you maybe could have got.

You can appeal but on what grounds?  Is the amount they think you were owed wrong?  Not the amount they're offering you but the amount they say you would have gotten if they hadn't gone bust.  If that's right then there's nothing to appeal, you might as well take the money. 

yorkielovit

Thank you spreadabletoast. After I wrote my post I realised there was a drop down box listing reasons under which you could appeal and none were relevant to me. Therefore I have accepted. Tbh think I knew that anyway