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Reclaim payday loans for free discussion area

edited 30 November -1 at 1:00AM in Loans
128 replies 25.3K views
MSE_KarlMSE_Karl MSE Staff
175 posts
I've been Money Tipped! Newshound! Best Buy Bear
MSE Staff
edited 30 November -1 at 1:00AM in Loans
This thread is specifically to discuss the content of the Reclaiming payday loans for free guide:

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  • Hi Karl,

    I would love some help please!

    Firstly all of the stated loans are repaid back - these are the ones i can find through my notes, currently i can get no info from LENDING STREAM, my email isn't registered anymore & the email arent specific from them...

    basically I got into a payday trap a few years ago, heres the sum up...

    Sunny
    27 Jul 14' 150
    1 Apr 15' 50
    24 Apr 15' 50
    27 Apr 15' 50
    27 May 15' 150
    20 June 15' 150
    29 Jul 15' 150
    26 Oct 15' 150
    30 Jan 16' 50
    27 Feb 16' 150
    26 May 16' 50
    27 Jun 16' 150
    26 Sept 16' 50
    26 Oct 16' 100

    Mr Lender
    1 sept 15 200
    27 Oct 15 200

    Pixie
    28 sept 15 250

    Wage day Advance
    9 Mar 15' 100
    1 sept 15' 250

    247 MoneyBox
    6 July 15' 80
    26 Sept 15' 100
    28 June 16' 150
    5 Oct 16' 125
    27 Oct 16 225

    If Im honest i cant pinpoint anything the lenders did wrong, apart from i was never asked if i had other loans available, sunny only checked me once and let me continually keep borrowing.

    Is there anything i can do to claim money back and how should i start?

    Thanks

    Matt
  • sourcratessourcrates Forumite, Board Guide
    21.7K posts
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    Hi,


    We have a specific thread on this on the debt free wannabe forum, but to answer your question, follow this link to the debt camel website, where a full guide and template letter can be found :


    https://debtcamel.co.uk/payday-loan-refunds/
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • Hi all. In April this year I decided to follow Money saving expert advice after getting 16 payday loans in the space of 2 years. I was using this money for monthly expenditure and the more I got out the more I needed. I kept paying off one loan only to get out another for a higher amount a week later.

    In April I decided to start compiling a list of all my Loan ID’s and how much I took and how much I repaid etc. Then I sent this along with my monthly expenses to Lending stream and complained about irresponsible lending. They had 8 weeks to respond and on the last day of the 8th week I had a response saying they were not to blame and this was their final response.

    I decided to take it to the Finacial Ombudsman who was able to look into my claim. All they wanted were the loan numbers which I already had a list of. And my bank statements from the first time I took them out to the last month (which for me was the current month) 17 bank statements were sent via email to the ombudsman and they replied saying I should hear back within 12 weeks. On the 12th week I phoned them up (lovely people) and asked about my case they said I should hear back soon.
    A few weeks later the ombudsman emailed me and they agreed with me (YAY!) and told lending stream they needed to refund me the interest and remove from credit file.

    Today, I received lending streams refund and am happy to announce that I got just over £1600 back from them. This has now allowed me to pay off a credit card. And I’m now looking forward to a less stressful 2019.
  • Hello, I am looking to seek refunds due to irresponsible lending at a time when I had mental health issues and a gambling addiction. Would evidence of gambling on my bank statements make it impossible to receive any kind of refund? Thank you.
  • zx81zx81 Forumite
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    What you spent the money on is irrelevant.

    You need to give them your complaint reasons.
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • edited 27 January 2019 at 1:41PM
    Locker1977Locker1977 Forumite
    7 posts
    edited 27 January 2019 at 1:41PM
    Hello and sorry in advance if I have posted this in the wrong section. Firstly in reply to squidge147, I too have a gambling addiction for around 15 years( 2 years without a bet now though) and have won 2 cases against Payday lenders. They actually stated that my gambling addiction was a big factor in proving the Payday lenders did not do enough checks, so it will certainly not harm your claim against them and good luck!

    My second point is the Obudsman recently found in my favour against Sunny loans, however they are refusing to reply to the Obudsman emails stating that they lent to me irresponsibly? Is there anything I can do to make them accept responsibility and pay me my refund. I calculate it will be around £5000, so i want it all settled as soon as possible.

    Thank you
  • Locker1977 wrote: »
    Hello and sorry in advance if I have posted this in the wrong section. Firstly in reply to squidge147, I too have a gambling addiction for around 15 years( 2 years without a bet now though) and have won 2 cases against Payday lenders. They actually stated that my gambling addiction was a big factor in proving the Payday lenders did not do enough checks, so it will certainly not harm your claim against them and good luck!

    My second point is the Obudsman recently found in my favour against Sunny loans, however they are refusing to reply to the Obudsman emails stating that they lent to me irresponsibly? Is there anything I can do to make them accept responsibility and pay me my refund. I calculate it will be around £5000, so i want it all settled as soon as possible.

    Thank you
    What’s the reference number for the onbudsman’s decision? Reading that may help understand what’s going on.
  • edited 28 January 2019 at 6:06PM
    sourcratessourcrates Forumite, Board Guide
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    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
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    edited 28 January 2019 at 6:06PM
    Locker1977 wrote: »

    My second point is the Obudsman recently found in my favour against Sunny loans, however they are refusing to reply to the Obudsman emails stating that they lent to me irresponsibly? Is there anything I can do to make them accept responsibility and pay me my refund. I calculate it will be around £5000, so i want it all settled as soon as possible.

    Thank you


    Hi,

    You don`t have to do anything here, the Financial Ombudsman Service is the statutory dispute-resolution scheme set up by parliament under the Financial Services and Markets Act 2000

    Most Banks and financial companies are regulated by the FCA, and the FOS was appointed by the regulator to resolve individual disputes between businesses providing financial services and consumers, as an alternative to the civil courts.

    If a company fails to comply with the Ombudsmans service, then they have reglatory powers to refer the matter to the courts.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to:
    [email protected].
    Any views expressed are mine and not the official line of MoneySavingExpert.com.
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • Hi

    Looking for help if possible?
    I had continual payday loans from 2008-2014 however the company was a small independant shop in my town. I am not sure if it's still trading as it was a cheque cashing centre. They did give me an Id card to use when I went in that is detailed as cash centres Ltd 46 brook street Chester- I assume this was a head office address but I cant seem to find any info on this company.
    Can I still make a claim myself or will it be easier to use a company with it being hard to find info about them.

    Thanks
    Mp3
  • DCFC79DCFC79 Forumite
    39.4K posts
    Part of the Furniture 10,000 Posts Name Dropper
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    Hi

    Looking for help if possible?
    I had continual payday loans from 2008-2014 however the company was a small independant shop in my town. I am not sure if it's still trading as it was a cheque cashing centre. They did give me an Id card to use when I went in that is detailed as cash centres Ltd 46 brook street Chester- I assume this was a head office address but I cant seem to find any info on this company.
    Can I still make a claim myself or will it be easier to use a company with it being hard to find info about them.

    Thanks
    Mp3

    Is the shop still there ?

    Use companies house to see if still active.
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