Loans2Go Complaint ( light at the end of the tunnel)

baggybreeches · 9 October 2018 at 10:13PM

Hi everyone, having been busy with a new job and such like I’ve finally got to the bottom of my payday loan redress pile. There’s a big one ( well actually two) left. A log book loan and a homeowner loan with loans2go

I initially borrowed in March 2017 and between then and December 2017 had five loans in increased amounts.
Initially I had tried Automoney and car cashpoint who both refused me. :eek:
I ended up at a local loans2go store. The branch staff asked me to complete my income and expenditure and upon reviewing it they altered it quite considerably ‘to ensure you meet the criteria’.
I’ve written to the business to complain af they wrote back to me enclosing a cheque for £429 upholding my complaint on the first loan. They’ve not provided any calculations of how they arrived at that figure. They’ve also said if I cash the cheque they will consider it my acceptance of full and final settlement. As much as I could really do with that money I think they are just trying to head me off early.
As that was the smallest loan and my circumstances changed before the next loan I have referred the complaint to the ombudsman and also written back to the business to outline a suitable settlement agreement. Feeling quite positive that this is another battle crossed of my list :T:T
Any stories of your own please feel free to share and I will keep you updated

DCFC79 · 10 October 2018 at 8:15AM

baggybreeches wrote: »

Hi everyone, having been busy with a new job and such like I’ve finally got to the bottom of my payday loan redress pile. There’s a big one ( well actually two) left. A log book loan and a homeowner loan with loans2go
I initially borrowed in March 2017 and between then and December 2017 had five loans in increased amounts.
Initially I had tried Automoney and car cashpoint who both refused me. :eek:
I ended up at a local loans2go store. The branch staff asked me to complete my income and expenditure and upon reviewing it they altered it quite considerably ‘to ensure you meet the criteria’.
I’ve written to the business to complain af they wrote back to me enclosing a cheque for £429 upholding my complaint on the first loan. They’ve not provided any calculations of how they arrived at that figure. They’ve also said if I cash the cheque they will consider it my acceptance of full and final settlement. As much as I could really do with that money I think they are just trying to head me off early.
As that was the smallest loan and my circumstances changed before the next loan I have referred the complaint to the ombudsman and also written back to the business to outline a suitable settlement agreement. Feeling quite positive that this is another battle crossed of my list :T:T
Any stories of your own please feel free to share and I will keep you updated

There are probably other stories, you just need to search for forums.

D_M_E · 10 October 2018 at 9:17AM

There's hundreds of them in this thread alone

https://forums.moneysavingexpert.com/showthread.php?t=5289150

baggybreeches · 11 October 2018 at 10:10PM

Thanks D_M_E they are payday loans, I took lots of advice from that particular thread. I’ve put off this one because it seemed like a different battle. I will post an update, so far L2G are going to respond in 10 days with my counter offer.

baggybreeches · 5 January 2019 at 5:05AM

I referred my complaint to the FOS in October and today they’ve sent me their decision. All of the loans were unaffordable and interest should be refunded, the two loans I have outstanding will be cleared and any overpayment refunded. I will update with a final figure as soon as possible. Thanks to everyone on these threads who provided sound advice and guidance.

Loans2Go Complaint ( light at the end of the tunnel)

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