Affordability Complaint

peteuk

If you have seen my other thread about which loan to pay off, then you will know I have 4 outstanding pay day/short term loans and 2 longer term (guaranteed) loans.   I originally sort advice as to which to pay off first and at present due to some being fully paid anyway, others being paid off early, once I am paid this month I will be left with the 2 long term.  

It was suggested that I have a large number of sub prime lending, one of which was with Moneyboat.  So I emailed all 4 with a simple complaint that they hadn't fully checked my circumstances and that it was irresponsible to lend to me.   They have replied acknowledging the complaint and have asked:-

"In the event of an affordability/irresponsible lending complaint, could you please provide us with copies of your bank statements applicable at the time of your applications, so that we may carry out a full and comprehensive review of your complaint."

It continues...

"Should it transpire that information provided by you at the time of application was false or misleading, we may register this attempt to gain redress falsely as a first party fraud with fraud prevention agencies." 

Now this looks like saber rattling to me, but I had reservations about the complaint, eg. I asked for the loan, I said I could afford it.  But really don't need fraud prevention breathing down my neck. 

Now the story behind the latest loan was I was on their website looking at a settlement figure.  Which they provide in a pop up box.  It has two click boxes one closes the pop up the other pays the balance.  I accidently clicked the wrong button.  It was too late to do anything to stop it.  (Yes one click and cause the site had my card details, payment was made) so in a blind panic I reapplied for a loan.  Within minutes of paying off the original. 

Clumsy at best, idiotic and more, I realise that but it was what I needed to do. 

Any advice?

Cheers...

cymruchris

Did you tell the whole truth when you applied for the loans? Did you fudge your income? Did you massage any figures? If you were absolutely spot on with what you put in your application that reflects in your bank accounts - then if you really had an affordability issue the complaint should be easy resolved. 

I have known people though that have 'bent the truth' to get money - and by doing so the lending companies can then say you didn't make an accurate application, and could potentially put a CIFAS marker against you for fraud. 

So it really depends on whether you were honest in your applications. If you were - then submitting the required information shouldn't be an issue. 

[Deleted User]

@sourcrates and @fatbelly are the experts with these PDL complaints. 

fatbelly

Thanks for the mention, but I generally just point people to the Debt Camel resources.

https://debtcamel.co.uk/payday-loan-refunds/

peteuk

cymruchris said:

Did you tell the whole truth when you applied for the loans? Did you fudge your income? Did you massage any figures? If you were absolutely spot on with what you put in your application that reflects in your bank accounts - then if you really had an affordability issue the complaint should be easy resolved. 

I have known people though that have 'bent the truth' to get money - and by doing so the lending companies can then say you didn't make an accurate application, and could potentially put a CIFAS marker against you for fraud. 

So it really depends on whether you were honest in your applications. If you were - then submitting the required information shouldn't be an issue. 

I was near as I could be accurate at the time, it was more about the amount of sub prime lending at the time of the loans. They have deadlocked the complaint today (so giving me no time to provide the information they requested).  It was a long shot, even if they took a little more off the settlement figure, it would have been worth asking.  

[Deleted User]

peteuk said:

cymruchris said:

Did you tell the whole truth when you applied for the loans? Did you fudge your income? Did you massage any figures? If you were absolutely spot on with what you put in your application that reflects in your bank accounts - then if you really had an affordability issue the complaint should be easy resolved. 

I have known people though that have 'bent the truth' to get money - and by doing so the lending companies can then say you didn't make an accurate application, and could potentially put a CIFAS marker against you for fraud. 

So it really depends on whether you were honest in your applications. If you were - then submitting the required information shouldn't be an issue. 

I was near as I could be accurate at the time, it was more about the amount of sub prime lending at the time of the loans. They have deadlocked the complaint today (so giving me no time to provide the information they requested).  It was a long shot, even if they took a little more off the settlement figure, it would have been worth asking.  

I gave you the link to the Debt Camel site in your previous thread, fatbelly has given you it again. Please read it as it tells you what to do if a lender replies as Moneyboat has.