Student loans and pensions

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  • MARKOS72
    MARKOS72 Posts: 248
    PPI Party Pooper
    Forumite
    Has anyone heard any updates regarding Wonga's administration and possible assessment of claims?
    Quis custodiet ipsos custodes?
  • MARKOS72 wrote: »
    Has anyone heard any updates regarding Wonga's administration and possible assessment of claims?
    Hi Mark,

    Worth looking at debt camel site. They have all the details. Essentially claims can be made until the end of September with payouts in January 2020 depending on how much the creditors have in the pot. Wouldn’t hold much hope for anything other than pennies in the pound.
  • This could be a really stupid question, but I have accounts with myjar, 247 and several others - how did you go about a complaint/what grounds if you don't mind me asking? i'm trying to figure out what options I have. I was desperate when applying so lied about affordability and existing loans but surely they should have checked this? Any help would be greatly appreciated...
  • MARKOS72 wrote: »
    Has anyone heard any updates regarding Wonga's administration and possible assessment of claims?

    Yes i have, i received an email this morning from the administrators stating my claims of 1 of 3 loans had been accepted, 2 had been rejected but 1 accepted for approx £327, although it did state that the amount actually received will be far less

    It also states that the refund may not be received until at least Jan 2020
  • Yes i have, i received an email this morning from the administrators stating my claims of 1 of 3 loans had been accepted, 2 had been rejected but 1 accepted for approx £327, although it did state that the amount actually received will be far less

    It also states that the refund may not be received until at least Jan 2020

    Oh that's good that they are actually working through them then!!!
  • MARKOS72
    MARKOS72 Posts: 248
    PPI Party Pooper
    Forumite
    I received an email coupe of days ago from Wonga's administrators stating my claim of 35 (yes 35 over 5-6 years) loans of 37 total were accepted with the first 2 rejected for a total of £7300 but I would receive substantially less , if anything. It's a win in my book regardless of what I receive.
    Quis custodiet ipsos custodes?
  • I have just started the complaints with 4 out of my 5 loans company, Money boat, safteynet, quickquid and Mr lender.
    Mr lender has so far been the only one asking why i was putting in a complaint and the rest have said they will look in to it and carry there own assessment.

    Has anyone got a recent case of a refund been offered and it been a good one?

    Thanks
  • SSD92
    SSD92 Posts: 38
    First Post
    Forumite
    Jpj2019 wrote: »
    I have just started the complaints with 4 out of my 5 loans company, Money boat, safteynet, quickquid and Mr lender.
    Mr lender has so far been the only one asking why i was putting in a complaint and the rest have said they will look in to it and carry there own assessment.

    Has anyone got a recent case of a refund been offered and it been a good one?

    Thanks

    I have recently started claims, including Mr Lender and SafetyNet Credit.

    Mr Lender asked for further information as to what my claim was and Safetynet Credit rejected my claim, which I have taken further with the Financial Ombudsman and I'm currently awaiting a response.
  • hatch07
    hatch07 Posts: 1 Newbie
    edited 9 September 2019 at 11:50AM
    Hello all,

    I was lurking around this forum for almost a year trying to find a solid timeline for how long these claims take, mine has just completed so I will do it myself for anyone else that was in my position.

    Firstly i'll say do NOT use a company to do this claim, if you are doing things right you'll very quickly be in the hands of the FO who will do everything for you. I did this entire claim myself solely from the advice on Debtcamel.

    Also if you are still in a payday loan cycle please talk to stepchange, they have helped me immensely with sorting out my finances. I was 14k in debt at 25 years old at the end of 2017, thanks to the help of Debtcamel and Stepchange I will now be debt free by the end of the month.

    06/08/2018
    Made a complaint to Casheuronet, using the template on Debtcamel

    16/08/2018
    Made a subject access request for my loan details. They actually only sent me loans within the last 6 years, but don't worry as the FO will have ALL of your loans. Mine went back to 2011.

    03/09/2018
    I receive my 'final response' from Quickquid telling me that they won't be taking my complaint any further. The funny thing is if they had offered me £500 here to settle everything I would have dropped it. Big mistake on their part.

    03/09/2018
    Made my complaint to the FO with all info included and final response letter from QQ provided.

    29/07/2019
    Got a call from an adjudicator at the FO telling me they have picked up my case.

    30/07/2019
    Adjudicator advises me that they have found the case to be heavily in my favor, refunding 50/52 loan charges. Casheuronet/Quickquid have until the 30/08 to respond with any disagreements.

    30/08/2019
    Advised that Casheuronet did not agree with adjudicator, will go to ombudsman.

    04/09/2019
    Casheuronet reverse their decision for this to be escalated to an ombudsman and agree to pay out a refund of all interest paid on the loans and 8% interest a year on these amounts. I'm not sure what exactly happened here as I thought they would rather delay it as long as possible.

    As you can see there is a huge gap between the complaint being made and the FO giving a decision so don't expect anything for a year after you make your complaint and you wont be disappointed. I had completely forgotten about it by the time they contacted me 10 months later.

    My case was very 'clear-cut' in that my second loan was extended for 5 months but I wouldn't expect any case to take too long once they have got the ball rolling.

    Regardless of your opinion on whether this is 'right' I was 18 when I first started taking out these loans and they sent me on a downward spiral of constant borrowing lasting 9 years, i've been working my way up in life, getting better jobs/better pay but have always had the £200 - £500 DMP payment coming off every month that I can finally now pay off in full and still have a substantial amount of money to start myself a savings account. I feel like i've been given a second chance in life.


    If you have any questions please feel free to ask!

    Cheers, and the best of luck with your claims.
    :beer:
  • SSD92 wrote: »
    I have recently started claims, including Mr Lender and SafetyNet Credit.

    Mr Lender asked for further information as to what my claim was and Safetynet Credit rejected my claim, which I have taken further with the Financial Ombudsman and I'm currently awaiting a response.
    Ive had a response to all of them, Mr lender asked why i felt the need to complain and there now looking in to it, Safetynet just replied that they will investigate.
    MY jar decided to ask me for statements and payslips, in which i refused to send them as all the information needed is with them.
    Hope you have luck!
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