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  • FIRST POST
    • woody53
    • By woody53 17th Jul 15, 9:32 PM
    • 28Posts
    • 69Thanks
    woody53
    Reclaiming money back from various payday loan companies
    • #1
    • 17th Jul 15, 9:32 PM
    Reclaiming money back from various payday loan companies 17th Jul 15 at 9:32 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 155
    • stonesy
    • By stonesy 12th Mar 18, 8:25 PM
    • 26 Posts
    • 1 Thanks
    stonesy
    Has anyone received refunds from PDL dated 2008-2009?
    • ocnnll36
    • By ocnnll36 14th Mar 18, 9:23 AM
    • 2 Posts
    • 0 Thanks
    ocnnll36
    A ridiculous comment, the problem with these companies is they did not care that all my wages were paying off their previous months loan, they knew this by my transactions with them . At its peak I had 6 companies and would borrow off one to pay the other. This was TOTALLY their fault, yes I had got myself into this position but I was paying £600 off on the 21st and then borrowing £500 on the 23rd. This should have been picked up.
    • ocnnll36
    • By ocnnll36 14th Mar 18, 9:32 AM
    • 2 Posts
    • 0 Thanks
    ocnnll36
    Yes you can mate. Wonga offered me £1000 compensation from 4 loans..... when my credit file was checked I had 47 of them from 2011. Its now gone to the ombudsman. If you had multiple loans then they should have known this and known you were in financial difficulty. A firm did mine and I pay them 30%


    Hope this helps
    • sallyannetag
    • By sallyannetag 14th Mar 18, 2:08 PM
    • 25 Posts
    • 16 Thanks
    sallyannetag
    Got my final response letter from Payday Express who stated they felt the loans were lent responsibly. I now have sent it onto the Financial Ombudsman to see what they say!
    • Akelly
    • By Akelly 14th Mar 18, 4:42 PM
    • 28 Posts
    • 6 Thanks
    Akelly
    I'm looking for some advice please.

    So I've had obviously had pay day loans. I've created an account with resolver and sent off these complaints.
    My jar
    Wonga
    Sunny
    Satsuma (closed as gave 200 refund back)

    My main concern is that I still have loans with all these companies. I've informed them that I cannot make the repayments. I'm struggling and my mental health is being affected.

    I feel like my finances are totally out of control and I have just been keep borrowing.. Lending.. Paying off and borrowing more... Credit cards are all maxed out too. Atm my debt stands to be about £20k

    How do I find out how many loans uve had with these companies? How do I work out how much is expected back.?
    I'm really not good with figures at all.
    Really hope someone can help me

    A
    • Akelly
    • By Akelly 14th Mar 18, 5:05 PM
    • 28 Posts
    • 6 Thanks
    Akelly
    As comment above so ive just found out in total from sunny alone I've borrowed
    £5200 how much could a reasonable request of a refund be back?
    • PartyPoison
    • By PartyPoison 14th Mar 18, 5:13 PM
    • 82 Posts
    • 157 Thanks
    PartyPoison
    So PDUK mailed last Friday to ask for more information (credit report and bank statements). I replied to confirm I did not have them to hand but would get them to the ombudsman if required. Today I receive my final response letter with an offer of almost what I expected back - but I do know that there is a case that the first loan or two are deemed affordable and they have agreed that from the point of the values of the escalating they were unreasonably lent and offered me the interest on those. I am going to accept that as I do feel that <a> its my own fault for going to them but <b> the first few loans were quite small in comparison to the ones they agreed they were unreasonable to have been leant.

    Their letter explains it all fairly well and for the first time, I will give them credit for their quick response. I have 2 complaints outstanding after this and PDUK was the last to be opened and the first to provide their final response. Lets just see how long it takes to deposit any money though...
    £2 savers club #54 Current total - £86
    Pay ALL your debt off by Xmas 2018 #094 - £4445.12/£8143.94 (54.6%) paid
    Debt as of January 1st 2018: £8143.84
    Debt as of today (13/04/18): £3,698.82

    OYSTON OUT!
    • Akelly
    • By Akelly 14th Mar 18, 8:01 PM
    • 28 Posts
    • 6 Thanks
    Akelly
    That's great news we'll done
    • nikkim2175
    • By nikkim2175 14th Mar 18, 9:52 PM
    • 14 Posts
    • 2 Thanks
    nikkim2175
    Onesys financial
    Hi,

    I had a payday loan with Onesys Financial Ltd (get a payday loan fast). They got a CCJ against me and then went into liquidation so the liquidators and now receiving £10 a month from me. The loan was for £260 including interest which I have paid more than this amount now but the balance they said I owed was for more than £1000. Does anyone know where I would stand in not repaying any more of this debt? The CCJ is nearly 4 years old now.
    • PartyPoison
    • By PartyPoison 15th Mar 18, 8:37 AM
    • 82 Posts
    • 157 Thanks
    PartyPoison
    As comment above so ive just found out in total from sunny alone I've borrowed
    £5200 how much could a reasonable request of a refund be back?
    Originally posted by Akelly
    The easiest way to do it is to get a list of all of your loans - sounds like you have? In which case figure out how much they paid into your bank and how much you paid back. The interest/fees (so money out minus money in - i.e. you borrowed 5200 but paid as an example 6000, it would be 6000-5200 so you paid 800 interest and fees) is what you can look to claim back. They will add 8% to this as interest if you are successful.

    As per my previous post, they found early loans as affordable, it seems to be once they escalate and continue that they agree there is a problem. Knowing this, I set myself a goal of 80% on each of my companies. From other posts, the ombudsman seems to agree in some cases about the earlier loans so if you feel like the offer is good enough then take it. If you arent happy go to the ombudsman anyway. A lot of this is personal preference in that sense. I got offered 78.8% of what I expected (Id thrown together a spreadsheet so I could see) so for the sake of a little bit I accepted knowing the 8% covered the difference.

    Im not the most experienced in this (this thread helped a lot - specially the earlier pages) but I have now had some success so happy to help where I can.
    £2 savers club #54 Current total - £86
    Pay ALL your debt off by Xmas 2018 #094 - £4445.12/£8143.94 (54.6%) paid
    Debt as of January 1st 2018: £8143.84
    Debt as of today (13/04/18): £3,698.82

    OYSTON OUT!
    • nikkim2175
    • By nikkim2175 15th Mar 18, 10:01 AM
    • 14 Posts
    • 2 Thanks
    nikkim2175
    Mr Lender
    I was taking out loan after loan with Mr Lender and have one outstanding with them. I put in a complaint and they didn't accept liability but said they would write off the interest of this current loan. I felt pressured into agreeing and setting up a payment plan because they wanted money. Am I too late to take it to the ombudsman now I have accepted their offeR?
    • PartyPoison
    • By PartyPoison 15th Mar 18, 1:18 PM
    • 82 Posts
    • 157 Thanks
    PartyPoison
    In a quick follow up - QQ have now offered me a couple of pounds under what I was expecting/happy to accept so again I have accepted for the sake of a couple of quid instead of the efforts of the FOS - not a bad 24 hours! Balls in your court now Wonga!
    £2 savers club #54 Current total - £86
    Pay ALL your debt off by Xmas 2018 #094 - £4445.12/£8143.94 (54.6%) paid
    Debt as of January 1st 2018: £8143.84
    Debt as of today (13/04/18): £3,698.82

    OYSTON OUT!
    • Mat1688
    • By Mat1688 15th Mar 18, 1:50 PM
    • 8 Posts
    • 4 Thanks
    Mat1688
    Advice please guys! So I've had all my statements back and are now awaiting replies from all except PDUK. I sent them the initial request for statements 3 weeks tomorrow and I followed it up last week and they said it can take up to 2 weeks, emailed again yesterday as was over the 2 weeks and now they've emailed today saying takes 40 days! On resolver it says I can escalate this tonight....shall I do that or just wait?
    • PartyPoison
    • By PartyPoison 15th Mar 18, 2:21 PM
    • 82 Posts
    • 157 Thanks
    PartyPoison
    Advice please guys! So I've had all my statements back and are now awaiting replies from all except PDUK. I sent them the initial request for statements 3 weeks tomorrow and I followed it up last week and they said it can take up to 2 weeks, emailed again yesterday as was over the 2 weeks and now they've emailed today saying takes 40 days! On resolver it says I can escalate this tonight....shall I do that or just wait?
    Originally posted by Mat1688
    Hey - Could just be me misunderstanding as I read that so I want to be clear - you are waiting for a statement of affairs from PDUK and have been for almost 3 weeks?
    £2 savers club #54 Current total - £86
    Pay ALL your debt off by Xmas 2018 #094 - £4445.12/£8143.94 (54.6%) paid
    Debt as of January 1st 2018: £8143.84
    Debt as of today (13/04/18): £3,698.82

    OYSTON OUT!
    • Akelly
    • By Akelly 15th Mar 18, 3:15 PM
    • 28 Posts
    • 6 Thanks
    Akelly
    Thankyou for your reply. I guess I better give sunny another call and ask how much I've actually paid them back in total. Same with my jar and the others I've borrowed from.

    I'm going threw resolver and they seem to be taking there time with the complaints. How long does it normally take? Some are ready to go to the Ombudsman in a few days and all they have done is acknowledge the complaint I've filed.

    How long does the Ombudsman take usually? Weeks or months?
    • Mat1688
    • By Mat1688 15th Mar 18, 3:38 PM
    • 8 Posts
    • 4 Thanks
    Mat1688
    Yeah, 3 weeks ago I sent my first email asking for my statements to them and they responded straight away saying complaint had been received ... Last week I chased it and they said it takes up to two weeks which would have meant I should have received it last friday. So yesterdayi chased it again and they said it can take up to 40 days...I've got the option to further action it tonight
    • brightylr
    • By brightylr 15th Mar 18, 4:07 PM
    • 6 Posts
    • 8 Thanks
    brightylr
    Reply from Lending Stream please advise
    Please could you help me on where to go with this?

    I have never been full time since 2010 - as after maternity leave I went part time to look after my daughter.
    There’s no way my credit score is that high, various defaults and on dmp.
    This is in reference to your recent correspondence. We understand that you wish Lending Stream to investigate your concern regarding the affordability checks conducted while approving your loans.

    Please note that you borrowed 4 loans from Lending Stream, out of which 1 loan was closed successfully and 3 loans (Ref: 3700300, 5214352 and 5219264) are outstanding.

    Affordability Checks:

    Since it is in our interest to provide loans only to the customers who we believe can repay without difficulties, all necessary analysis and checks are performed before the approval of each loan. Our advanced analytics and underwriting processes review the information provided by the customer, all public information and details held by the Credit Reference Agencies.

    While reviewing your accounts, we note that your loans were approved based on the following facts:

    Employment: During the applications, you were full-time employed.

    Income: The data shared in the applications indicated that your monthly income was ranging up to £1375.00. The disposable income on all your loan accounts was ample to complete the monthly repayments towards your loans easily.

    Experian Scores: Experian score was factored into our proprietary underwriting and deemed acceptable. While accessing your applications, the score was ranging up to 655.

    Applications Declined: Although we received additional applications, they were declined as they did not meet our lending criteria.

    Considering the above data, we confirm that all necessary checks were executed at the time of your applications and your loans were approved only after it cleared our affordability analysis.

    We expect our customers to include any current obligations due to be paid while filling the expenditure details to ensure a fair assessment of their disposable income and ability to make repayments. Our constant message to customers whose circumstances change, or who experience hardship, is to speak to us and we will work something out together. Upon reviewing your accounts, we found that you never informed us about your circumstances. Had we been made aware, the required assistance must have been offered.

    Validation of Income & Expenditure:

    We expect our customers to include any current obligations due to be paid while filling the expenditure details to ensure a fair assessment of their disposable income and ability to make repayments. The data shared in your applications indicated that your monthly income well exceeded your expenses and that repayments towards the loans could have been made without any financial difficulties.

    In addition to the above data, we would like you to note that while a business is liable to undertake the checks properly and validate the information received for an application, a customer is equally responsible to share the accurate details in order for us to gauge his/her repayment capability. Your self-attested income and expenditure details indicated the loans to be affordable.

    Rollover:

    We would also like you to note that a “Rollover” is an option provided by some lenders where a customer is allowed to delay paying back a loan on the payment of additional fees. Currently, Lending Stream does not offer this option. Hence, we confirm that the FCA regulation on “Rollover” Loans is not applicable to us.

    Multiple Loans:

    We would also like to inform you that multiple loans offered in a considerable time frame are not considered as “irresponsible lending” if the disposable income of a customer (in proportion to the borrowed amount) is enough to meet the monthly repayments of the loans.

    Credit file/Data Validation:

    When a customer requests for a credit report from a Credit Reference Agency, he may acquire specific information including names of different lenders and their respective reporting. However, when a financial institution does a credit search on a customer’s credit report, they are not privy to that exact information. Hence, our decision to lend money does in part rely on the information received from Experian (credit scores).

    Resolution:

    As a part of our loan applications process, we captured your self-declared income, expenditure, employment/place of work details, which you were legally required to provide in an accurate manner. It was imperative that details furnished by you were correct, so we could ensure that we satisfy our standard affordability checks to measure if your loan applications met our lending criteria or not. Based on the information you furnished, we see the loans were paid out correctly.

    In lieu of the overall situation, we confirm that the affordability checks were performed with due consideration while approving your loans.

    With the above being said, we would like to inform you that Lending Stream never retreat in extending their support and ensures that we provide appropriate help, whenever required. Hence, we offer to schedule a payment arrangement on your outstanding loans (Ref. No: (I’ve removed this)with outstanding balances £17.93, £231.00 and £56.00 respectively, thereby freezing further interest.

    Should you wish to set up the payment arrangement, please note:
    We are required to report the status of your loans to credit bureaus on a regular basis
    Your decision to set up the Payment Arrangement will reflect in your Credit Report
    If you fail to make a payment, we may transfer your account to a Debt Collection Agency for servicing
    We would request you to help us with the following details for us to be able to setup the payment plan.
    Amount you would like to pay every month/week
    Date(s) on which transactions should be processed
    Preferred mode of payment
    Please send us a confirmation of the aforementioned offer so that the required changes can be made.
    Debt Free Wannabe

    Current Debt as of Feb 2018 - 6,261.06
    • PartyPoison
    • By PartyPoison 16th Mar 18, 9:16 AM
    • 82 Posts
    • 157 Thanks
    PartyPoison
    Thankyou for your reply. I guess I better give sunny another call and ask how much I've actually paid them back in total. Same with my jar and the others I've borrowed from.

    I'm going threw resolver and they seem to be taking there time with the complaints. How long does it normally take? Some are ready to go to the Ombudsman in a few days and all they have done is acknowledge the complaint I've filed.

    How long does the Ombudsman take usually? Weeks or months?
    Originally posted by Akelly
    Ask Sunny for a written SoA (statement of affairs) or failing that check your bank statements - its worth taking the time to go through and get the info you need. I havent dealt with the FOS myself so I cant say 100% but it appears they take months rather than weeks based on other peoples posts on this topic.
    £2 savers club #54 Current total - £86
    Pay ALL your debt off by Xmas 2018 #094 - £4445.12/£8143.94 (54.6%) paid
    Debt as of January 1st 2018: £8143.84
    Debt as of today (13/04/18): £3,698.82

    OYSTON OUT!
    • PartyPoison
    • By PartyPoison 16th Mar 18, 9:22 AM
    • 82 Posts
    • 157 Thanks
    PartyPoison
    Yeah, 3 weeks ago I sent my first email asking for my statements to them and they responded straight away saying complaint had been received ... Last week I chased it and they said it takes up to two weeks which would have meant I should have received it last friday. So yesterdayi chased it again and they said it can take up to 40 days...I've got the option to further action it tonight
    Originally posted by Mat1688
    If you only asked for a statement, you should email again and ask for a full written statement. You have not yet complained (from my understanding) so I don't know why they would send that unless its an auto response, but you aren't the only one its happened to based on older posts in here! As a heads up, they did ask me to pay £1 for a statement, which was difficult to understand when I got it - but they seem to have paid me back my £1 afterwards anyway.

    I used this address - account.services@paydaycontact.co.uk - and sent the following:
    "Good afternoon,


    Could I please have a list/statement of the payday loans taken out via PDUK/PayDayUK. I have signed in to my account to see that the information is not available.


    Thank you very much."

    I had a very quick reply asking for the admin fee. Hopefully that helps - good luck.
    £2 savers club #54 Current total - £86
    Pay ALL your debt off by Xmas 2018 #094 - £4445.12/£8143.94 (54.6%) paid
    Debt as of January 1st 2018: £8143.84
    Debt as of today (13/04/18): £3,698.82

    OYSTON OUT!
    • Mat1688
    • By Mat1688 16th Mar 18, 9:41 AM
    • 8 Posts
    • 4 Thanks
    Mat1688
    Thank you party poison! Very helpful! I'm using resolver website so I can keep track easier. I did escalate it last night and it sent to a person further up in PDUK. Funny thing is, I've had my statement already from PDExpress which is all the same company, but I know i had a lot more loans with UK. Which is why I feel they are really dragging this out as I've already sent my full complaint to Express. Just a waiting game now. Lending Stream told me I had to pay them £10 for my statements, I emailed saying there's no chance I'm giving them anymore of my money and they sent the statement the next day !!!128522;
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