Irresponsible Lending Complaint Upheld

brokenbubble83

Afternoon

Just looking for a bit of advice on an upheld decision I had with a lender when raising a complaint. 

I raised a complaint in relation to 3 separate loans I had around irresponsible lending. They came back after a few weeks confirming that my complaint was upheld across all 3 loans. 

The first loan was repaid a few years back so they are repaying me back directly the capital amounts I had made as interest and charges was being removed. I am using this payment to pay off 3 credit cards in full.

The second and third loans they are writing the interest down and applying any payments I have made to the capital resulting in a huge reduction in both balances. They have said to me that they are wanting me to complete an affordability assessment, this is not something I am wanting to do as I am quiet happy to repay the remaining 2 loans capital over the remaining term and the amount of detail they are asking for is ridiculous.  

Would they accept this? It means the loans will still be paid off when they were due to, would just be a reduced payment from before as I would no longer be paying any interest off.

The accounts have been placed on a hold for 1 month and they have agreed to suppress any adverse info to credit reference agencies

Has anyone been in this situation before?

Thanks

sourcrates

A few people will have been in a similar situation I guess, when it comes to income/expenditure forms, just fill in the form so it shows what you want them to see, its quite easy, doesn't have to be real actual figures.

This is just a box ticking exercise they have to complete due to FCA guidance on affordability.

You`ve come this far, best not to ruin it all for a piece of A4 paper eh.