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  • FIRST POST
    financial ombudsman representative
    payday loan problems - ask the ombudsman
    • #1
    • 30th Sep 14, 2:34 PM
    payday loan problems - ask the ombudsman 30th Sep 14 at 2:34 PM




    Payday lending worries keeping you awake at night? Don’t worry, you’re not alone. The ombudsman service is here to help.

    We sort out problems between payday lenders and their customers. We can help with a range of things, for example if your lender:

    ·charges you more than once for a missed payment
    ·charges you a fee for a loan which you never receive
    ·doesn’t respond when you ask for help with the repayments
    ·calls and texts you too much
    ·and many other issues.

    There are lots of ways to get in touch…

    1.Just ask your question below and we will reply. If your question is about something other than payday lending, pop over to our Twitter feed @financialombuds to ask it now.

    2.If you would prefer to ask a question in private, feel free to send a message to paydayhelp@financial-ombudsman.org.uk

    3.We’re available for web chat which can be found on our website here

    4.Phone us, for free on 0800 023 4567 or if you’re calling from a mobile on 0300 123 9123, lines are open Monday-Friday 8am – 8pm and Saturday 9am – 1pm.

    You can follow us on twitter @financialombuds and also check out our other threads below:

    Banking Problems

    Motor Insurance Problems



    Official Company Representative
    Last edited by financial ombudsman representative; 27-03-2015 at 3:20 PM. Reason: need to change name of thread
Page 6
    • Tshaney
    • By Tshaney 5th Apr 17, 6:52 PM
    • 7 Posts
    • 0 Thanks
    Tshaney
    I wasn't in a debt management plan when I applied for a loan,I used them 2 years ago a company called Valour Finance and came out of the debt management plan as they ripped me off,I then got a loan a year or so later with savvy.co.uk who are part of Valour Finance
    • IAmWales
    • By IAmWales 5th Apr 17, 6:59 PM
    • 1,860 Posts
    • 3,928 Thanks
    IAmWales
    I wasn't in a debt management plan when I applied for a loan,I used them 2 years ago a company called Valour Finance and came out of the debt management plan as they ripped me off,I then got a loan a year or so later with savvy.co.uk who are part of Valour Finance
    Originally posted by Tshaney
    Could you afford the repayments when you took out the loan or not?
    • Tshaney
    • By Tshaney 5th Apr 17, 7:04 PM
    • 7 Posts
    • 0 Thanks
    Tshaney
    Not really as I got it out to pay off another pay day loan I had defaulted on and now I have been getting payday loans from lots of others to pay of other payday loans and now have 12 payday loans that I keep defaulting on because I can not afford all of them
    • Rainbowgirl84
    • By Rainbowgirl84 5th Apr 17, 7:11 PM
    • 520 Posts
    • 907 Thanks
    Rainbowgirl84
    Not really as I got it out to pay off another pay day loan I had defaulted on and now I have been getting payday loans from lots of others to pay of other payday loans and now have 12 payday loans that I keep defaulting on because I can not afford all of them
    Originally posted by Tshaney
    Did you inform any of them that you already had payday loans from elsewhere when you applied for your next one?
    • Tshaney
    • By Tshaney 5th Apr 17, 7:15 PM
    • 7 Posts
    • 0 Thanks
    Tshaney
    They were all informed and they checked my credit file which had them on there and I also provided bank statements indicating that I had payments from many payday loans in and out of my account,I have defaults and CCJs also and my credit rating is very poor
    • IAmWales
    • By IAmWales 5th Apr 17, 7:16 PM
    • 1,860 Posts
    • 3,928 Thanks
    IAmWales
    Not really as I got it out to pay off another pay day loan I had defaulted on and now I have been getting payday loans from lots of others to pay of other payday loans and now have 12 payday loans that I keep defaulting on because I can not afford all of them
    Originally posted by Tshaney
    Then you need to accept responsibility for taking out lending that you could not afford.

    Have you contacted one of the debt charities for support in managing your debts? They'll be able to help you deal with creditors and arrange more manageable repayments.

    https://www.stepchange.org
    • Tshaney
    • By Tshaney 5th Apr 17, 7:22 PM
    • 7 Posts
    • 0 Thanks
    Tshaney
    It was actually a debt charity that advised I may have a case to put forward for irresponsible payday loans lending and I am going this route first and then seeing if I can resolve this way
    • keepcalmandstayoutofdebt
    • By keepcalmandstayoutofdebt 7th Apr 17, 3:56 PM
    • 3,330 Posts
    • 1,738 Thanks
    keepcalmandstayoutofdebt
    Not really as I got it out to pay off another pay day loan I had defaulted on and now I have been getting payday loans from lots of others to pay of other payday loans and now have 12 payday loans that I keep defaulting on because I can not afford all of them
    Originally posted by Tshaney
    Does this now stop you though? I'd have thought things got easier to deal with the existing debt, I mean with these companies stating they now mark your credit file pretty much instantaneously must at some point have an effect of no more lending - how does this behaviour continue.

    I mean I'm due a late payment marker from a PDL and think it's over, don't go without bag over head a payday loan on there alone is bad enough without confirmation you were late paying just the once, I just invisage if I was ever to try for a loan again I'd be declined as it were.
    "If you are caught in a rainstorm, once you accept that you'll receive a soaking, the only thing left to do is enjoy the walk"
    • Stupidguy87
    • By Stupidguy87 9th Aug 18, 5:11 PM
    • 1 Posts
    • 0 Thanks
    Stupidguy87
    Wonga vs FOS
    My complaints been going on since July 2017. Wonga wrote a final response offering to pay me fees/interest charges for 2 out of 16 loans. Loans 14 and 15. Loan 16 was written off years ago. Offer was about £600. Took my complaint to FOS. Lengthy wait as some loans were over 6 years, Wonga refuses to allow FOS to investigate.

    Advised FOS to just review the loans that’s Wonga would allow them to. Wonga have now offered £1300 - but less the loan that was written off so now the offer is £450. They’re such con artists. I really do hope that Wonga’s investments dry up and the company goes under. Yes I may lose my £450 offer but I’d rather see the financial leaches at the top lose their Bentleys.

    I’ve now asked for my complaint to move from an Ajudicator to the Ombudsman. FOS can’t give me a timescale for this. FCA needs to step in and sort things out.
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