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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 161
    • Kittykat10
    • By Kittykat10 14th Apr 18, 12:13 AM
    • 12 Posts
    • 0 Thanks
    Kittykat10
    Hello all,

    I have sent my complaint to both QQ and wonga. QQ have asked me to supply payslips and bank statements. Should i comply with the requests or not?
    TIA
    • MARKOS72
    • By MARKOS72 14th Apr 18, 9:19 AM
    • 244 Posts
    • 809 Thanks
    MARKOS72
    Good to see many success stories-those of you who are still waiting or havent yet done so,do it-you have nothing to lose.
    As I previously posted a while back I too got caught in the cycle of payday loans but eventually got out of it,made a number of complaints to a few companies I dealt with and thankfully had a happy outcome (with a fair bit of help from the ombudsman)
    I'm back on track and havent touched a payday loan in over 3 years
    Quis custodiet ipsos custodes?
    • sourcrates
    • By sourcrates 14th Apr 18, 12:16 PM
    • 13,987 Posts
    • 13,253 Thanks
    sourcrates
    Hello all,

    I have sent my complaint to both QQ and wonga. QQ have asked me to supply payslips and bank statements. Should i comply with the requests or not?
    TIA
    Originally posted by Kittykat10
    Hi Kittykat,

    Some lenders such as Quick Quid and Uncle buck are asking for these. You do not have to give them personal information if you dont want to, those lenders do not usually make good offers anyway!

    If it goes to the Ombudsman, you will have to provide bank statements if you are asked, the ombudsman can get old bank statements if you dont have them, but most people are happy to do that.

    If you dont want to give them this, just reply saying you want them to consider your complaint on the basis of what they knew about at the time you were taking the loans out, as this should have shown they were not affordable.
    Last edited by sourcrates; 14-04-2018 at 12:18 PM.
    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 are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • Kittykat10
    • By Kittykat10 14th Apr 18, 10:42 PM
    • 12 Posts
    • 0 Thanks
    Kittykat10
    I don't have bank statements and they are anlittle trickier to get so I don't really want to bother with them until I have to go to the Ombudsman. I do however have records and essy access to my Payslips - is it worth supplying this? I don't want to give them more information and on the end hinders my case?

    P.S I haven't lied about any of the information or anything when applying, just wondered if they do actually want to see them and it will help me or if it's a deterrent for people to "give up" on their claims.

    Thank you!
    • Akelly
    • By Akelly 15th Apr 18, 2:31 PM
    • 28 Posts
    • 6 Thanks
    Akelly
    Could anyone help.

    So I've been requested I need to sned bank statements and my credit file to the Ombudsman.

    I'm extremely uncomfortable with sending my bank statements however due to debt I'm on a DMP and the account has been closed. The bank has been horrible throughout this process and I would not like anymore contact with them.

    DO I have to send bank statements?
    • justinsrival
    • By justinsrival 16th Apr 18, 9:31 AM
    • 46 Posts
    • 30 Thanks
    justinsrival
    I didn't supply the payday loan companies my bank statements but I did supply them to the financial ombudsmen.

    I would NOT supply them to a payday loan company if they asked especially QuickQuid, who I found very difficult to deal with. I did in the end get a refund from them for £300 (though I feel I was owed £400-500 considering I was taking out Wonga loans for £900 a month at the same time) but I found they make you jump through every hoop, and try to put you off over and over with stern and threateningly worded emails. I would imagine they would scrutinise your bank statements and claim that you could afford to pay back the loans because you had £20 to buy a pair of jeans - another hoop to get past. Take it to the ombudsmen instead.

    If you're worried they will see you have been spending money in a clothes shop/recreation - then don't. It is fair to assume that everybody across the country would spend a little amount each month doing this. Not every spare penny should be considered "taken" by a payday loan company. This is exactly what you are claiming for - they were unaffordable and left you with nothing to live fairly i.e. able to pay other bills, buy food and take part in normal social activities each month. Obviously, if you're buying lots of expensive things, going out every night, booking a holiday etc that's a different story. Though I doubt anyone in this thread has ever felt they were living the high life on payday loans

    Stick with it - it's a dance. Just remember - their horrible emails are templates. They don't want to admit defeat and neither should you!
    • Kittykat10
    • By Kittykat10 16th Apr 18, 2:25 PM
    • 12 Posts
    • 0 Thanks
    Kittykat10
    What about payslips? I don't know whether to provide these or not.
    • Gems80
    • By Gems80 16th Apr 18, 6:09 PM
    • 1 Posts
    • 0 Thanks
    Gems80
    Giving it a go
    I've been using payday loan companies for approximately 7 years. Using more than one at a time just to pay another one. I've borrowed small amounts to larger amounts of approximately £2000.

    I currently have active PDL's now. Can sone one give me advise on how to get interest back etc. Apologies if it's already in the thead, there a lot of pages to sift through.

    Does anyone have a good link to a template letter, how easy is the process, should I do it myself or get help?

    Thank you in advance
    • baggybreeches
    • By baggybreeches 17th Apr 18, 12:42 PM
    • 61 Posts
    • 131 Thanks
    baggybreeches
    Hi, if you search for debt camel and look on there, there is a template letter. Use the template and obviously fill in your specific details then send off to each loan provider. They have 28 days to acknowledge your letter. and 8 weeks to provide a formal response. Some will come back within 2 weeks. As a guideline they won't refund interest on the first loan but subsequent loans if you can demonstrate that you were repeatedly borrowing. Good Luck.
    • justinsrival
    • By justinsrival 17th Apr 18, 4:24 PM
    • 46 Posts
    • 30 Thanks
    justinsrival
    Hi Gems. Expect a bit of a wait as you go through the process. Wonga seems the best to deal with whereas others try to say no from the outset.

    Essentially, if you can demonstrate that you had multiple PDLs at the same time, and then again in the following months, you should be able to show that you were unable to pay them off without the need for additional credit. For a loan to be affordable, you should not be in left in a position where you need to re-borrow (either from the same company, or another) to pay off the debt.
    • justinsrival
    • By justinsrival 18th Apr 18, 12:00 PM
    • 46 Posts
    • 30 Thanks
    justinsrival
    If anyone else is having trouble getting redressed loans removed from their credit file, I have had to just print off a credit report (I used the CallCredit statutory report) and highlight where they appear to prove they haven't been amended.

    Just a heads up so that this might speed up your queries Happy refunding! Dont let these payday loans rule your life.
    • baggybreeches
    • By baggybreeches 19th Apr 18, 2:39 PM
    • 61 Posts
    • 131 Thanks
    baggybreeches
    I just thought I would let people know where my successes have come from so far!
    These are the results so far:
    Quick Quid £3916
    PDUK £349.43 & £2360.37
    SafetyNet Credit £1047.91
    MyJar £700
    Mr Lender £305
    Peachy £115.77
    Lending Stream £100.97
    Uncle Buck £171.58
    Northway Financial (SwiftSterling) have today offered £1102.30 after intervention by the OAFS in Malta, I am going to accept this figure rather than risk the regulator reducing this amount and taking time to rule.
    The FOS ruled in my favourin respect of 5 loans with Payday Express so I am waiting for a response from them.
    I have one outstanding complaint with the FOS for Wonga
    I also agreed for balance reduction to zero with Sunny. I referred Trusted Cash and Satsuma to the FOS but they said that the businesses had not done anything wrong (they were single small value loans £300-£400).
    So basically at this point I am £10169.85!!!!! back nearer where I should be!!!!
    Originally posted by baggybreeches
    Hi all, a further update!
    Payday Express eventually responded to the FOS today almost 3 weeks after the original deadline they were given. They are refunding £1648.81 of interest & charges (including the 8% interest and net of 20% tax).
    My figure in just over 12 months stands at a whopping £11818.66!!
    Most of this has already been used to pay off or down long term debts and over December/January saw me through losing my job and being unemployed for 6 weeks. It's nice to feel the light at the end of the tunnel getting a little closer, I have still got 2 loans with loans2go but they are up to date and at least one will be paid of before June.
    I have a couple of smaller complaints still to go through but I would just like to thank everyone on this thread for the support and advice when things seemed insurmountable.
    • TrumpCard
    • By TrumpCard 23rd Apr 18, 7:37 AM
    • 11 Posts
    • 3 Thanks
    TrumpCard
    I’m looking into doing this myself, I had borrowed thousands of & from roughly 16 PDL companies over the years.

    The last ‘round of loans’ I have paid all back now, although due to my circumstance, I was gambling constantly and explained this so some companies did strip off the interest for me.
    However. I did pay back loans for previous 3-4 years without any discounts.
    Would the fact I was gambling the money impact me negatively on a positive outcome?
    • Superhoop91
    • By Superhoop91 23rd Apr 18, 2:43 PM
    • 55 Posts
    • 7 Thanks
    Superhoop91
    Curious to know the answer to this question as well.
    • sourcrates
    • By sourcrates 23rd Apr 18, 2:56 PM
    • 13,987 Posts
    • 13,253 Thanks
    sourcrates
    What about payslips? I don't know whether to provide these or not.
    Originally posted by Kittykat10
    It is entirely up to you weather you supply them with copies of your payslips or not, as i said before, no one can make you send further information, but doing so can only help your case.
    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 are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • sourcrates
    • By sourcrates 23rd Apr 18, 3:00 PM
    • 13,987 Posts
    • 13,253 Thanks
    sourcrates
    I!!!8217;m looking into doing this myself, I had borrowed thousands of & from roughly 16 PDL companies over the years.

    The last !!!8216;round of loans!!!8217; I have paid all back now, although due to my circumstance, I was gambling constantly and explained this so some companies did strip off the interest for me.
    However. I did pay back loans for previous 3-4 years without any discounts.
    Would the fact I was gambling the money impact me negatively on a positive outcome?
    Originally posted by TrumpCard
    Basically what you did with the money is no one else`s business but your own, if anything the fact you were gambling will only help to strengthen your case about unafordable lending.

    In case you have not yet seen it, there is a full guide to the reclaiming process 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 are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • sourcrates
    • By sourcrates 23rd Apr 18, 3:04 PM
    • 13,987 Posts
    • 13,253 Thanks
    sourcrates
    If anyone else is having trouble getting redressed loans removed from their credit file, I have had to just print off a credit report (I used the CallCredit statutory report) and highlight where they appear to prove they haven't been amended.

    Just a heads up so that this might speed up your queries Happy refunding! Dont let these payday loans rule your life.
    Originally posted by justinsrival
    They will only remove them from your credit file if this was agreed as part of the redress they are giving you.

    If you did not ask them to remove the entry as part of the deal, then you will be stuck with it, always ask.
    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 are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • Superhoop91
    • By Superhoop91 23rd Apr 18, 10:00 PM
    • 55 Posts
    • 7 Thanks
    Superhoop91
    I've asked Quickquid for a list of all my loans as they only have the last 2 years worth listed on there. I had numerous loans with them, multiple top ups and extensions so I believe I have a fantastic case of getting the interest back or a good chunk of it. I can't say for certain until they send me a list of all the loans but I believe I paid £2k in interest so I'd want to recoup at least half of that. I now have to wait up to 8 weeks for them to reply.
    • TrumpCard
    • By TrumpCard 24th Apr 18, 10:42 AM
    • 11 Posts
    • 3 Thanks
    TrumpCard
    Please may someone advise if SavetyNet Credit come under the same tree as the standard pay day loans ?
    • baggybreeches
    • By baggybreeches 24th Apr 18, 1:09 PM
    • 61 Posts
    • 131 Thanks
    baggybreeches
    Please may someone advise if SavetyNet Credit come under the same tree as the standard pay day loans ?
    Originally posted by TrumpCard
    Hi TrumpCard, yes SafetyNet Credit do, they were pretty easy to deal with in my case, they responded giving me a clear statement of what they would refund and the reasons behind the refunds (and also the times they weren't refunding me for).
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