SafetyNet Refund Success Story - Irresponsible Lending

azzlepops

Hello Everyone,

Have just successfully claimed back ALL of my interest paid to SafetyNet using Resolver and viewing some posts on this forum.

Firstly, I went back and looked at my borrowing history and calculated the total amount of interest paid in 18 months and it blew me away, no wonder I was struggling.

This is what I sent to them in the main text section of the Resolver Claim - I have been stuck in a cycle of reborrowing almost instantly as soon as I have paid the balance plus interest as I could not afford to repay and not have to borrow again to cover other bills. Stated by the regulator "The borrower should be able to make the required repayments without undue difficulty, whilst continuing to meet other debt repayment obligations and reasonable regular outgoings" I believe you (SafetyNet) have been irresponsible here and continued to loan to me and increase my available amount without checking even with the negative impact being very evident. As far as I'm concerned, this is irresponsible lending.

I would like a full refund of interest paid which as it stands is £XXXX.XX 

I sent the email at 11.59pm on 29th April and they acknowledged the email within 4 hours and stated that they have 8 weeks to respond but will try to within 4 weeks. They responded 1 minute before the 8 weeks were up (I did send 2 follow up emails via resolver to which they will reply with a stock "we have 8 weeks" message.

My final offer was the full interest returned with 8% added on, going by some others success stories, I wasn't expecting this. It puts me in a good position for the first time in a long time and I'm posting this in the hope that if even one person sees it and it helps them with the stress this causes then I've done my bit.

Thank you to those who have posted before and to this site/resolver.

Good Luck.

 

brettcta

Cool.        

LimitationsTime

Thank you for the sharing the success. Happy for you. 
I’m here to find the relief, perhaps some additional information to support the battle I am preparing for. In 2008 my credit account ( debited for estimate of 1500) has been sold.. In 2010 I have received the balance of 8900 and under the threats I entered the worst contract possible. I will skip the explanation of the luck of awareness about the possibility, the law, the knowledge. It took me 11 years to realise the fraud committed on me, without any proper consequences. Still in debt, the agencies and HBOS, have been happily enjoying 8 X debt already, and won’t leave me alone. My credit report has been affected to the extent of refusing simple mobile contract ability. They have destroyed my life and I have come to the point, I am not willing to defend myself anymore. The investigation I’m conducting has revealed the further impossible facts. I’m in constant shock for several weeks, as to the findings and as to the total ignorance of requests, the demands and  the truth being disregarded. I know my rights, I do know the law and relevant regulations ( I’m Law student), I do know the offences and I am still not effective. Why? The answer is very simple: the balance of the power. Me against them all. They laughing. I can hear it.
How on earth am I going to be refunded? I believe I am not the only one. Awaiting confirmation….

Lolli863

Hi azzlepops how long did it take for them to pay it into your account? And update your credit file? 

Karenjen

I have made a claim they took 7 weeks to come to a decision which was upheld just waiting for payment.

chutch2020

Hi, I am in the process of trying to claim all my previous interest from safety net, the deadline is today, however I received an email yesterday saying that they haven’t finished investigating my complaint and if I wanted to I could contact the financial ombudsman. Did you receive such an email before they paid out to you?

Thanks

[Deleted User]

chutch2020 said:

Hi, I am in the process of trying to claim all my previous interest from safety net, the deadline is today, however I received an email yesterday saying that they haven’t finished investigating my complaint and if I wanted to I could contact the financial ombudsman. Did you receive such an email before they paid out to you?

Thanks

Any complaint that is not resolved in 8 weeks must trigger a letter advising you of this right, there is no need to do anything.

Either they pay out or they reject your complaint which then gives you 6 months to refer to the FOS

cmvtec

Hi Guys,

I've just sent off my letter to Safetynet. I've had an account with them for 7 years, so the amount I have asked for in interest is a singificant one, which will clear me of all other debt and set me on an even keel.

I have read that I should expect them to lowball me - if they offer a reduced amount, what sort of percentage of my claim should I consider accepting?

I can't imagine I will be as fortunate as the OP.

Thanks

[Deleted User]

cmvtec said:

Hi Guys,

I've just sent off my letter to Safetynet. I've had an account with them for 7 years, so the amount I have asked for in interest is a singificant one, which will clear me of all other debt and set me on an even keel.

I have read that I should expect them to lowball me - if they offer a reduced amount, what sort of percentage of my claim should I consider accepting?

I can't imagine I will be as fortunate as the OP.

Thanks

Any refund agreed will be in line with industry recommendations, there won't be any negotiations nor can you demand any amount

premplus480

Hi, I sent an email off to Safetynetcredit on 13/06/22 regarding unaffordable lending, they replied to me with a final response on 29/11/22 saying they would refund me monies, which I accepted on 05/12/22.
They told me it would be processed on 19/12/22 so I contacted them on that day and they said it would now be processed on 23/12/22, I then contacted them again on the 23rd and they then said it would be processed that day by 7pm, I contacted again on the 23rd and they told me it would be processed on the 03/01/23,
so I call them on the 3rd of January and now someone from the general chat says the payments were paused over Christmas but the complaints department say there’s a technical issue. Company now stating there is no date they are giving me for process just it will be ‘asap’

any ideas what I can do? 

Can they just string me along like this?

MalMonroe

Hi, if it were me, and given all the messing about they've been doing, I'd just go straight to the Financial Ombudsman. You can even fill in a complaint online and what do you have to lose? 

https://www.financial-ombudsman.org.uk/consumers/how-to-complain

They are stringing you along and now saying there's no actual date, it's not fair.

Just put on your complaint to the Ombudman all the information you've put in your post here. Hopefully that will start the ball rolling, you've been very patient to date. Consider what you've been told today to be the company's final notification to you. 

Good luck with it all.