My Jar loans - redress payment delay

Hi,
I'm looking for any info or insight anyone may have regarding upheld complaints made to My Jar (payday loans) for irresponsible lending - but are yet to receive the redress payment that was agreed?

I first made a complaint on 12th October via the Resolver portal, about a series of historical loans and was upheld for the majority of the loans I'd had (dating back to 2015) & I received a settlement offer of approx £1,900 - however, it didn't include the 8% interest that should have been added - so I requested a recalculation & this was finally agreed.

Then I was told they couldn't make the payment, as their records showed my bank account was closed! They were trying to pay into the OLD bank account I used to have, at the time I took out the loans, NOT the one I'd given them!

After resolving this, I received confirmation on 4/12 that the payment had been processed & would be in correct by 5pm on 10/12... but it didn't show up!

I've since had 2 more emails, advising me of an 'issue' with the finance department that is preventing them from making my redress payment as promised - no explanation why and when I call the complaints team on the number at the bottom of the email (from Friday,18/12) a message says this number is no longer operational!

So I call customer service, who are also unable to explain what's happening, but I am told (when I ask), they are not issuing loans right now 'due to Covid 19, as it's the responsible thing to do'....???!!

I'm now getting really concerned that these are simply a string of delay tactics, as the company may be about to go bust!
Has anyone else had this, or are in the same situation? I'm wondering whether I should escalate the issue to the Financial Ombudsman, or wait a bit longer? I was told today that I would get the money that was agreed, but they couldn't say when!
TIA, Lou :-/

Comments

  • You'll need a letter of deadlock if you want to go to FOS, but given it will take months to filter through FOS, I would simply wait it out.
  • I don't think a letter of deadlock is required these days to go to the ombudsman - you can do so after eight weeks following the final response to your complaint.
    I do agree though that waiting is the easier thing to do at the moment - everything seems delayed - going to the ombudsman will not make it appear any sooner.
  • Thanks both for your advice, however my fears were confirmed when I received a response from them yesterday afternoon - My Jar went into administration yesterday! So I'll be lucky to receive a fraction of the redress I was promised - and it'll take many months, after everything's been sorted   :s

  • Oh well.  It was only an unexpected bonus anyway, so nothing really lost.
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