Student loans and pensions
Comments
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Well done Rossim1985.....and I do agree with you UDS, at the time a few of them did help me out of a hole and I am sure many others have had good experiences from PDL's but I can only speak about my experience........ once you start borrowing its hard to stop unless you can increase your income by doing overtime etc at the end of the month it becomes an endless cycle of borrowing from one company to pay the other while juggling your mortgage and other bills......I had so much money going out I had about 10 companies I owed to at the end of one month..... in the end I paid every penny back but have got back what they and the ombudsman deemed I deserved.....so once again good luck to those who are fighting to get there charges back.
Can you help with a template letter to reclaim interest and charges0 -
dazzaofdagenham wrote: »Can you help with a template letter to reclaim interest and charges
Hi,
You can't use a template letter for this purpose.
You have to cite your own reasons why you belive the loans were unaffordable for you, there may be a few similarities between cases, but only you know your own financial situation.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Just want to add my experience with this after reading this thread a while back.
I emailed Quickquid and asked them to refund a total of about £8k in fees and charges. Quickquid replied the next day basically saying no. So I immediately raised a complaint with the ombudsman and let Quickquid know that I had done so. They emailed back saying " that wasnt our 'final response'" and I emailed them back saying " it sure sounded like it!"
so anyways ombudsman got involved pretty early and i got £7k back from quickquid! I Thank you Woody , if it wasnt for this thread i'd not have known to complain!!0 -
Great news w4nnabd3tfree.....christmas bonus....just seen a few posts popping up about people getting refunds paid back into there accounts from the money shop etc plus numerous other companies giving refunds too, so I think we were right to complain when we did.....no smoke without fire.....just had my final two complaints upheld by the ombudsman and the companies involved have agreed with there findings so just waiting for the refunds.....still waithing to hear back from another company which is not with the ombudsman and thats them all sorted, 9 companies in total...started the ball rolling at the end of May and hopefully should be all sorted by January, its taken along time but its been more than worth it in the end........0
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w4nnabd3tfree wrote: »Just want to add my experience with this after reading this thread a while back.
I emailed Quickquid and asked them to refund a total of about £8k in fees and charges. Quickquid replied the next day basically saying no. So I immediately raised a complaint with the ombudsman and let Quickquid know that I had done so. They emailed back saying " that wasnt our 'final response'" and I emailed them back saying " it sure sounded like it!"
so anyways ombudsman got involved pretty early and i got £7k back from quickquid! I Thank you Woody , if it wasnt for this thread i'd not have known to complain!!
How many loans etc have you had to get back 7k in fees etc ?0 -
Great news w4nnabd3tfree.....christmas bonus....just seen a few posts popping up about people getting refunds paid back into there accounts from the money shop etc plus numerous other companies giving refunds too, so I think we were right to complain when we did.....no smoke without fire.....just had my final two complaints upheld by the ombudsman and the companies involved have agreed with there findings so just waiting for the refunds.....still waithing to hear back from another company which is not with the ombudsman and thats them all sorted, 9 companies in total...started the ball rolling at the end of May and hopefully should be all sorted by January, its taken along time but its been more than worth it in the end........
Woody,
Have you had the actual loans that you borrowed refunded, or just the interest and charges you paid ?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
From my experience you only get back the interest and any other charges like roll over fee's etc plus 8% interest from when you took the loans to when your claim is settled.....I can't speak for anyone else but if you go down the ombudsman route thats what they help you claim back not the initial loan amount......0
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From my experience you only get back the interest and any other charges like roll over fee's etc plus 8% interest from when you took the loans to when your claim is settled.....I can't speak for anyone else but if you go down the ombudsman route thats what they help you claim back not the initial loan amount......
Cheers, just seeking clarification !!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
I read this thread approx. one month ago and pinged a email off to Wonga - I had a succession of payday loans with them during my divorce and eventually a relative bailed me out on the final one because I was having to borrow more to repay them. At the time I was really struggling, but made every repayment on time bar 1 which was a day late when I was hospitalised.
They replied within ten days saying they had reviewed my loan records file, my credit file and the way in which my pattern of borrowing had increased and they made me an offer of just over £2k, plus they'll remove 7 of the loans from my credit file as they recognise that at this point, based on their new affordability criteria these loans wouldn't have been affordable to me. They said the loans I had before that were classed as affordable as they were for lower amounts and weren't concurrently taken out.
This amounts to all the interest on the 7 loans plus interest at 8%. I've just banked the whole lot into our savings account. It was paid into my account within 3 days of accepting their offer.0 -
Great news mummyto4kids I did exactly the same...... still waiting on a couple of refunds after the ombudsman went in my favour, some of the companies were easy to deal with I had the same experience as you did with wonga, lending stream and quid.co.uk...... quick quid initially said no but after the ombudsman upheld my complaint the paid out the day after so fair play to them, should have them all finished and refunded by end of January so I can start 2016 totally debt free (first time since I were 18) and a good amount in my savings.....0
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