Student loans and pensions

jack_1992 · 23 January 2018 at 11:37PM

Franktboris wrote: »

Quick question, I have now taken the first step on a long road and sent out my complaint emails, and subsequently had my first response. Lending Stream (medium amount of loans) have responded (within five days) offering to clear a very small loan of sub £100 owing and waive the interest on a larger account if I enter into a payment arrangement with them, I have had 7 loans in total with this lender, all back to back, so the interest would add up to a significant amount more than the offer, is there any way to go back to them or is it best to directly escalate to the FOS?

Thanks all

If they have offered something and you're not happy with it, I would go back to them and say exactly that. You're not happy and want all of the loans interest, charges and 8% simple interest on that back or you will take to FOS.
Its your choice, ultimately, and what you think is best.
My FOS experience so far has been good with 1 lender and a bit lengthier with another but the one outcome so far has been staggering for me.

tibawo · 24 January 2018 at 5:53PM

Has anyone had any luck with loans over 6 years old?

NeedaDyingMillionaire! · 24 January 2018 at 6:03PM

I fell into the same trap when I lost my job between 2008-2009, everyone wanted to lend £50 here, £100 there. It wasn't spent on myself or anything frivolous, just everyday food, priority bills etc! They are STILL hassling me for the money and I literally have about 200 left out of my wages each month for council tax, food, gas, elec etc. I have no spare to give these people! Wish I could apply for it back.. I certainly couldn't afford it and they should never have lent me it.. Have you got an email template I could use per chance?!

NeedaDyingMillionaire! · 24 January 2018 at 6:05PM

I fell into the same trap when I lost my job between 2008-2009, everyone wanted to lend £50 here, £100 there. It wasn't spent on myself or anything frivolous, just everyday food, priority bills etc! They are STILL hassling me for the money and I literally have about 200 left out of my wages each month for council tax, food, gas, elec etc. I have no spare to give these people! Wish I could apply for it back.. I certainly couldn't afford it and they should never have lent me it.. Have you got an email template I could use per chance?!

PartyPoison · 24 January 2018 at 6:44PM

Hi. This thread really caught my attention as I was in this situation a few years ago. I was lending from one to pay another. Every payday it was literally pay 2/3 loans and re-loan, sometimes for more to cover the interest.

Can I ask what template people have been using to send to the companies? I have asked the 3 I remember using (Wonga and Quick Quid via IM - Wonga says it can take 12 days, QQ say 72 hours) and I have had to email PayDay UK so will see what response I get from them. If I remember correctly, I only used these 3 and PDUK/QQ the most.

Any help is most appreciated.

Jimbo12 · 24 January 2018 at 11:15PM

Hi,

First time I’ve posted in here so much good advice thanks a lot it’s helped me get over 2k from quickquid and the adjudicator has just told me today that 30/42 loans with Wonga should be refunded. Quick question does anyone know what Wonga are like in terms of making an offer before going to ombudsman as I believe the wait can be quite timely and I’d rather take slightly less now than hold on for another 4-6 months ? Thanks

AnxiousTheElephant · 25 January 2018 at 2:37PM

Response from QQ asking for bank statements/payslips

Do I have to send these to get a successful claim or is there a way round it. Not happy with over sharing years worth of bank statements

PartyPoison · 25 January 2018 at 3:01PM

PartyPoison wrote: »

Hi. This thread really caught my attention as I was in this situation a few years ago. I was lending from one to pay another. Every payday it was literally pay 2/3 loans and re-loan, sometimes for more to cover the interest.

Can I ask what template people have been using to send to the companies? I have asked the 3 I remember using (Wonga and Quick Quid via IM - Wonga says it can take 12 days, QQ say 72 hours) and I have had to email PayDay UK so will see what response I get from them. If I remember correctly, I only used these 3 and PDUK/QQ the most.

Any help is most appreciated.

So, PayDay UK have replied asking for a postal order/cheque for £1 be sent. I have asked if I can pay any other way as post would take a while, but expect to be told no.

**UPDATE**
PayDay UK have given me bank details to transfer £1 to with the following:
"Please ensure that you use the above reference number so our finance team can allocate your funds correctly. Please also be advised you will be required to send a confirmation email to ourselves once your payment has been made.

We need to make you aware that due to a backlog of manual payments it may take up to 15 working days for our finance team to locate your payment and allocate it your account. Once the payment has been allocated to your account, all requests for a Statement of Account, will be completed within 12 working days."

Not sure how it takes 15 working days to find a bank payment and 12 working days to send a file but that equates to a 6 week wait - if I took 6 weeks to do something at work Id get sacked! I have only asked for the information so far, nothing else so Im not sure why they are delaying me.

My main concern here is that the bank account I had at the time is now closed - the only thing to back up my claims would be any records provided by these companies - and I have seen that QQ in particular ask for bank statements/payslips. Whilst I do have the payslips, I am not sure where they are as it is a few years ago and I have moved out of my parents house since then so they will be in a box in the loft.

My question is what is needed physical evidence wise? Can I literally jump in blind and say I took out loans with you and wish to claim back due to irresponsible lending with having at minimum 2 payday loans at a time? Or am I best waiting to have all of the statements from the 3 companies as a minimum?

Thank you.

PartyPoison · 29 January 2018 at 2:02PM

Me again... sorry.

So Wonga replied at 5am today - nice time to start work on a Monday - with my list of loans. I used them as my third option (QQ and PDUK being the main 2) and even then I managed to accrue almost £1600 of fees and interests on approx £8000 worth of PDLs over a 39 month period. Wow that is shocking - depressing in fact because it makes me think how much the other 2 will have had off me! I have now emailed them using the debt camel template - does that mean my 8 weeks starts today? Or from when they acknowledge it (they say on their site it can take 5 days for that)?

QQ said 72 hours for a SOA so Im not sure if that meant working hours (9 days), 72 hours as in 3 days literally (in which case its passed) or 72 hours as in 3 days but 3 working days (so this evening).

PDUK I reluctantly paid the £1 to avoid any further delays. If I can win any of these then what is £1 in the scheme of things. So that will take 15 days to find in their bank account (how big must their statement be if it takes that long?) and then a further up to 12 to actually send me the SOA. Still seems very long winded but as I have got from reading through the thread, QQ and PDUK are not the quickest or best for responses unless something has changed.

Bluetonic123 · 30 January 2018 at 6:00PM

After rejecting my complaint safetynet credit have agreed with my adjudicator and have cleared my balance and are refunding me £500! If they had just agreed to wipe my balance I would have been happy and not taken it any further.

This brings my total refund up to £4,500 and my credit score is massively improving with their information removed.

Now just Wonga to go - the loans are over 6 years old so it is taking a very long time but I 23(!) consecutive loans with them - each one bigger than the last. With the interest I think I could get about £7000 which would clear the last id my debt and help me start off some savings.

I have now emailed them using the debt camel template - does that mean my 8 weeks starts today?

I believe it is 8 weeks from when they receive it so if you sent an email it starts straight away.

Student loans and pensions

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