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  • FIRST POST
    • woody53
    • By woody53 17th Jul 15, 8:32 PM
    • 31Posts
    • 76Thanks
    woody53
    Reclaiming money back from various payday loan companies
    • #1
    • 17th Jul 15, 8:32 PM
    Reclaiming money back from various payday loan companies 17th Jul 15 at 8:32 PM
    Hi all just wanted to share some good news regarding payday loan companies.....
    From early 2011 until mid 2014 I too was caught in the payday loan trap, all my own fault may I add, I borrow the money and in the end paid every penny back, would estimate 15000 over the years maybe 20.
    Early this year I saw all the news regarding payday loan companies and irresponsible lending, unfair interest etc etc etc, so I decided to have ago and try and get a few quid back myself.
    So far I have been in contact with 5 of the companies I was lending multiple loans from at the same time with many roll overs too, I have received 4 apologies and offers totalling over 5000 and the other complaint is now with the ombudsman.
    I never expected these amounts back but if you too were in the same situation, get all your facts in order and get complaining, from the initial email sent I had the money back within 8 weeks.
Page 174
    • holypockets
    • By holypockets 17th Mar 19, 7:54 AM
    • 11 Posts
    • 1 Thanks
    holypockets
    Bit of an update from me.

    I complained to abou 10 different companies around the end of January. I didn’t use a template or anything, I just wrote the email myself stating I feel they may have lent to me irresponsiblly. I was stuck in the cycle of PDL from about 2012/13 until recently - and I’m convinced full checks from lenders would have seen this and not allow it to perpetuate.

    Mr Lender wrote my balance off, I was happy with this - I’m saving 75pm and it’s helped break the cycle.

    OnStride (formerly Pounds to pocket) got back a few days ago. I complained about my entire history with P2P and QQ - and they upheald my complaint, a £1300 refund and wiped my existing balance. Saving my another 75pm.

    I’m still waiting on the rest - but just these two have dramatically helped and removed eased the burden of perpetual debt I’ve been stuck with for years.
    • bflare
    • By bflare 19th Mar 19, 9:35 AM
    • 254 Posts
    • 112 Thanks
    bflare
    Hello all. I have just been offered just under £700 from Quick Quid for a payday loans I took out in 2013. I am very pleased with this offer, but I am wondering whether I should accept the offer or question any part of it especially as it appears that they have not upheld another 4 loans as they were in 2011& 2012 which I am guessing is out of the 6-year window? ck
    • Willing2Learn
    • By Willing2Learn 19th Mar 19, 11:04 AM
    • 3,547 Posts
    • 3,152 Thanks
    Willing2Learn
    Hello all. I have just been offered just under £700 from Quick Quid for a payday loans I took out in 2013. I am very pleased with this offer, but I am wondering whether I should accept the offer or question any part of it especially as it appears that they have not upheld another 4 loans as they were in 2011& 2012 which I am guessing is out of the 6-year window? ck
    Originally posted by bflare
    Have a look at the following two articles regarding the six year ruling:

    QuickQuid Ė misleading customers about loans over 6 years old

    Ombudsman decisions in 2018 on payday loans over 6 years old
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • bflare
    • By bflare 19th Mar 19, 12:15 PM
    • 254 Posts
    • 112 Thanks
    bflare
    Originally posted by Willing2Learn

    Thank you for that. Wow there is a lot of information there to take in. I am no expert but it appears that the FOS will look at the complaints if they are over 6 year old but no older than 3 years from the point that you became aware that you maybe able to complain? If that is the case then I should be able take the remaining 4 loans to the FOS as I only became aware that I may have a complaint in January of this year after seeing an advert on social media. Am I correct in this assumption?


    All the offer says is that the 4 other loans were not upheld because they were outside of the time limit. The offer letter does then say the following:


    "You have the right to refer your complaint to the Financial Ombudsman Service, free of charge.
    The Ombudsman might not be able to consider your complaint if:
    ē what youíre complaining about happened more than six years ago, and
    ē youíre complaining more than three years after you realised (or should have realised) that there was a problem.
    We think that some of your complaint was made outside of these time limits but this is a matter for the Ombudsman to decide. If the Ombudsman agrees with us, they will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances, such as in the case of exceptional circumstances."



    This echoes the links that you sent.


    So should I open a case with the FOS or just take the offer for the one loan that is within the 6 year time limit?
    • Willing2Learn
    • By Willing2Learn 19th Mar 19, 2:20 PM
    • 3,547 Posts
    • 3,152 Thanks
    Willing2Learn
    Ö I am no expert but it appears that the FOS will look at the complaints if they are over 6 year old but no older than 3 years from the point that you became aware that you maybe able to complain? If that is the case then I should be able take the remaining 4 loans to the FOS as I only became aware that I may have a complaint in January of this year after seeing an advert on social media. Am I correct in this assumption?...

    Ö So should I open a case with the FOS or just take the offer for the one loan that is within the 6 year time limit?
    Originally posted by bflare
    I am not qualified to answer any of your questions as I don't work in debt management. Sorry.

    I have assumed the same as you though. If it were me, I would follow my gut instincts, and my understanding of the precedent set by the previous FOS decisions in the linked articles. I would probably open cases with the FOS for the four loans. I would firstly probably open another thread to seek advice of people who may have greater knowledge than I. To see what their opinions are with regard to the six year limit and the previous FOS decisions.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • bflare
    • By bflare 19th Mar 19, 2:33 PM
    • 254 Posts
    • 112 Thanks
    bflare
    I am not qualified to answer any of your questions as I don't work in debt management. Sorry.

    I have assumed the same as you though. If it were me, I would follow my gut instincts, and my understanding of the precedent set by the previous FOS decisions in the linked articles. I would probably open cases with the FOS for the four loans. I would firstly probably open another thread to seek advice of people who may have greater knowledge than I. To see what their opinions are with regard to the six year limit and the previous FOS decisions.
    Originally posted by Willing2Learn

    Ok & thank you for your help its appreciated.
    • mrlizard
    • By mrlizard 19th Mar 19, 11:21 PM
    • 19 Posts
    • 34 Thanks
    mrlizard
    So glad I found this thread, completely by accident.

    I had a SwagBucks offer prompting me to sign up for a payday loan recovery specialist which is the kind of thing I would normally ignore, but I clicked out of curiosity as my situation with payday loans has been pretty horrendous over the past 3 years. The small print of the offer promised to help me reclaim money and if successful they would take 35% of any amount recovered.

    I hadn't heard of any kind of payday loan reclaim process before and 35% sounded almost as bad as the loan companies themselves, so I googled and found this thread. I've started reading from page 1 but it will take me a while!

    I've just sent off my first two complaints based on the template from https://debtcamel.co.uk/payday-loan-refunds/ to Sunny and SafetyNet Credit, as these are the two biggest lenders I still owe money to.

    I remember seeing somewhere that changes were made to how these crooks were allowed to lend somewhere around 2015. My loans for both have mostly post-2015, while a lot of the early posts in this thread I'm reading are from before then. I think I made a pretty good case in both my complaints as I downloaded all the loan history I could get from both and combined it with data from my Noddle credit report to show a history of irresponsible lending.

    Is this going to have an impact on my standing when it comes to requesting a reclaim?
    • magpie777
    • By magpie777 21st Mar 19, 7:00 PM
    • 7 Posts
    • 0 Thanks
    magpie777
    I've Escalated my lending stream complaint to FOS, let's see what happens.
  • archived user
    help constructing letter?
    I know there is no template for writing to payday loan companies asking for a refund of charges etc but can someone give me a rough idea how to word it?
    The person I'm asking for had about 20 plus loans on the go at the one time and borrowed from one to pay for another. Could we put forward the point that they lent the money without checking what other commitments they had at the time?
    • sourcrates
    • By sourcrates 22nd Mar 19, 12:27 PM
    • 17,647 Posts
    • 16,617 Thanks
    sourcrates
    I know there is no template for writing to payday loan companies asking for a refund of charges etc but can someone give me a rough idea how to word it?
    The person I'm asking for had about 20 plus loans on the go at the one time and borrowed from one to pay for another. Could we put forward the point that they lent the money without checking what other commitments they had at the time?
    Originally posted by nailgirl

    Hi,


    Debt camel is the place to look, link here :


    https://debtcamel.co.uk/payday-loan-refunds/
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    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 forumteam@moneysavingexpert.com. Any views expressed are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    • holypockets
    • By holypockets 24th Mar 19, 4:10 AM
    • 11 Posts
    • 1 Thanks
    holypockets
    Quick question - anyone with experience receiving money from Sunny? They’ve emailed me with an offer, I’ve accpepted and another email confirming it will take 5 working days - are they reliable with this?
  • archived user
    Holypockets great you got an offer. Can I ask what you were asked to provide ie bank statements or credit reports or did you just send an email?
    • holypockets
    • By holypockets 25th Mar 19, 5:06 PM
    • 11 Posts
    • 1 Thanks
    holypockets
    Holypockets great you got an offer. Can I ask what you were asked to provide ie bank statements or credit reports or did you just send an email?
    Originally posted by nailgirl

    Hello

    Iíll post a more comprehensive guide and info into my situation, as I pulled a lot of bit from across the site and utilitied it to reasonable success when I hear back from everyone.

    But, basically - I didnít use a template or anything. I just emailed every lender with a bespoke email towards the end of January. In the email, I stated that I felt my entire lending history needed to be investigated as there could been points where the lending was irresponsible. I didnít get any bank statements, reports, a list of loans - itís my view thats something they should have on file and checked at the time of issue loans. If they done, it just reinforces my case.

    Iíll be honest, I donít have a lot/any info on my borrowing - and it would take ages to dig through everything to find anything relevant. I just emailed everyone one Iíve every used in the past 10 years - I still have a couple to contact, I only just remembered I had loans with them.

    A point to note if you have a lot to do - keep a track of all the emails and replies. Make sure they all have logged as a complaint and you have a record of them telling you itís being looked into within 8 weeks A couple have logged it as a query at first, then a complain when Iíve chased it up.

    Also, one represetive told me the industry standard it to freeze an account while itís being looked into - I have a few still open and itís been quite important to stop these for 8 week or so while itís being looked into.

    Another thing Iíve noticed - Iíve had 2 back upheld, and the reason on both has been stated that I was clearly reliant on the credit as I was borrowing each month. Thatís the payday loan cycle and thatís what Iíve complained about. If this has happened to you, Iíd imagine you have a case. Itís cleary not a guarantee - but they both admitted they were not prudent enough checking my history and it was irresponsibe.

    I total so far - Iíve got £2700 back, had 1 written off and waiting to hear back from 6-7 more. Itís not only been a nice repayment, but Iíve savwd myself about £170pm in loan payments - which has helped to break the cycle and move forward.
  • archived user
    Thanks for that holypockets. It's very helpful. It's not for me but the person I'm helping had 30 different loans at the one time! I feel they should have did a proper credit history check before it got out of hand. I've constructed an email just waiting to get the reference numbers for each one.
  • archived user
    Can I ask a question please. If you manage to claim back from loan companies does it put a black mark on your credit report that could effect getting any type of loan in the future? Ie labelled a trouble maker
    Also person I'm helping is keen to use a claims company and I'm trying to convince them otherwise due to the commission. Any advice most welcome
    • holypockets
    • By holypockets 26th Mar 19, 5:56 PM
    • 11 Posts
    • 1 Thanks
    holypockets
    Can I ask a question please. If you manage to claim back from loan companies does it put a black mark on your credit report that could effect getting any type of loan in the future? Ie labelled a trouble maker
    Also person I'm helping is keen to use a claims company and I'm trying to convince them otherwise due to the commission. Any advice most welcome
    Originally posted by nailgirl
    I think its very unlikely any kind of black mark would be left - you are not a troublemaker - you are having a refund due to something being miss sold to you. I cant imagine any grounds for any negativity - but I'm not an expert. To be honest, if anything it should improve your credit file as it can remove things from credit files.

    In terms of using a company vs not, I've had success without and i even used my own custom email. The company has access to the same tools and details as you - so I wouldn't bother. If you are worried that the claim is less likely if you don't use a company - remember you can pass on the claim to the FOS if you are unhappy who will look into it for you.
    • tibawo
    • By tibawo 29th Mar 19, 5:09 PM
    • 1,129 Posts
    • 10,165 Thanks
    tibawo
    My 'old' loan as in over 6 years old is finally going before ombudsman in April.

    QQ disagreed with adjudicator.

    Nothing about provident yet.
    After years of debt and living on the breadline feeling nothing but negative about myself, I am finally feeling that 2019 might be the year I actually get positive about it!
    • Warby212
    • By Warby212 2nd Apr 19, 1:01 PM
    • 2 Posts
    • 0 Thanks
    Warby212
    I used resolver to complain to 247 money box Iíve waited 8 weeks to be told they will refund me over £500 and Iím now still waiting for them to respond to my email to say they are processing the refund they are ignoring my emails now
    • Shelley13
    • By Shelley13 2nd Apr 19, 2:07 PM
    • 2 Posts
    • 0 Thanks
    Shelley13
    Has anyone had any emails back from wage day advance
    • Warby212
    • By Warby212 2nd Apr 19, 2:17 PM
    • 2 Posts
    • 0 Thanks
    Warby212
    I had the email saying that they are now under the administrators
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