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  • FIRST POST
    • woody53
    • By woody53 17th Jul 15, 9:32 PM
    • 31Posts
    • 75Thanks
    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 162
    • justinsrival
    • By justinsrival 24th Apr 18, 1:33 PM
    • 46 Posts
    • 30 Thanks
    justinsrival
    Yep - they did promise that which is why I'm challenging it.

    It shouldn't take them 2 years to remove it when they said it would be 30 - 45 days from when they issued the refund.
    • TrumpCard
    • By TrumpCard 24th Apr 18, 1:52 PM
    • 17 Posts
    • 3 Thanks
    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).
    Originally posted by baggybreeches
    thanks. I must admit when things when pearshaped with my life and gambling this company were the most empathetic and understanding of my situation, Iíll see what they say. I paid them thousands back.
    • TrumpCard
    • By TrumpCard 24th Apr 18, 3:08 PM
    • 17 Posts
    • 3 Thanks
    TrumpCard
    I notified ferratum I wanted to make a complaint and if I could have my summary of burrowing to go alongside a complaint.

    They are now saying theyíll send it within 8 weeks alongside their response. I havenít actually complained about anything yet so I assume theyíre just being tricky on purpose. I have asked again twice that I just want my summary of burrowing but they just reply saying their complaint response will contain that document.
    • Akelly
    • By Akelly 25th Apr 18, 10:26 PM
    • 33 Posts
    • 6 Thanks
    Akelly
    Looking for people's experiences.

    So I too gambled alot, which is why I was so afraid in telling the Ombudsman about my bank statements. I rag and explained... Cried alot however they reassured me. I've sent my bank statements off a year's worth... I've supplied all that I can with a statement about my gambling (that I'm not having therapy for) I fund out not too long ago in one year I had gambled 26k. That's not what I make in a year so was feeding it by payday loans.

    Now in regards to people's experiences. How long do the Ombudsman take. They have all the info and are waiting for an adjudicator to handle my case.. That's what they tell me. Im praying they go in my favour as I'm on a DMP now and would ike to pay alot of my debt bk.
    • Akelly
    • By Akelly 25th Apr 18, 10:27 PM
    • 33 Posts
    • 6 Thanks
    Akelly
    Mistakes in my post above. I rang not rag lol and I am having therapy for gambling. Lol

    Blumming phones!
    • TB.Lanyard
    • By TB.Lanyard 30th Apr 18, 1:17 PM
    • 2 Posts
    • 1 Thanks
    TB.Lanyard
    Firstly, I'd like to thank to original poster and contributors of this thread. I had no idea I could reclaim anything from payday lenders.

    Secondly, it seems I've been one of the fortunate people to get an offer of redress from Wonga without having to go to the ombudsman. I accepted their offer via email a couple of hours after receiving it. This was about two weeks ago. I haven't heard anything since, nor have I received any money in the bank account. They have my correct details and their 'Live Chat' service confirmed they'd received my 'Acceptance Form'.

    I am aware that they state it can take 14 working days from receipt of 'Acceptance Form'. However, I'm writing today to ask if it is normal to not receive any further correspondence or redress after 10 working days from Wonga? I've read through a lot of posts in this thread and have seen some people stating they received redress within three working days. I suppose I'm being inpatient!

    Thank you in advance.

    UPDATE 01/05/18: I've received an update from Wonga explaining that the settlement is now being processed and should be finalised within 3 to 5 working days. I hope this is helpful to anybody else in the same position as myself.
    Last edited by TB.Lanyard; 01-05-2018 at 10:19 AM.
    • DebtFreeWanabee
    • By DebtFreeWanabee 5th May 18, 2:05 PM
    • 2 Posts
    • 0 Thanks
    DebtFreeWanabee
    Firstly, I'd like to thank to original poster and contributors of this thread. I had no idea I could reclaim anything from payday lenders.

    Secondly, it seems I've been one of the fortunate people to get an offer of redress from Wonga without having to go to the ombudsman. I accepted their offer via email a couple of hours after receiving it. This was about two weeks ago. I haven't heard anything since, nor have I received any money in the bank account. They have my correct details and their 'Live Chat' service confirmed they'd received my 'Acceptance Form'.

    I am aware that they state it can take 14 working days from receipt of 'Acceptance Form'. However, I'm writing today to ask if it is normal to not receive any further correspondence or redress after 10 working days from Wonga? I've read through a lot of posts in this thread and have seen some people stating they received redress within three working days. I suppose I'm being inpatient!

    Thank you in advance.

    UPDATE 01/05/18: I've received an update from Wonga explaining that the settlement is now being processed and should be finalised within 3 to 5 working days. I hope this is helpful to anybody else in the same position as myself.
    Originally posted by TB.Lanyard
    Hi TB, how long after you accepted did you receive the funds? Just curious as i've now been waiting 9 days & wondering how long wonga usually take.
    • CopleyDog
    • By CopleyDog 5th May 18, 6:04 PM
    • 24 Posts
    • 11 Thanks
    CopleyDog
    Start of my journey
    Hello all. Long time reader, first time poster.

    I recently 'came out' about a 10+ year gambling addiction to my wife, family and friends. I'm seeking treatment for this and things are going well, but this illness (not habit) has inevitably left me in quite a bit of debt. I'll post my SOA and more on my story in the main DFW forum in the coming days - I'm still collating all of the information (there's a LOT of debt).

    One area I'm looking into is to contact the payday loan companies who are amongst my creditors. I have seen on another website (DebtCamel) that some of these companies may be guilty of irresponsible lending. I know there are people out there that would see this as trying to get away with not paying, but that is not the case. My eyes have been opened to just how irresponsible these lenders were during the worst of my addiction. I was not in the right frame of mind and should not have been given loan after loan after loan. My credit report has been on a gradual downward spiral over the past few years (it is currently 25 according to the MSE Credit Club report - not a typo - it's really just 25 at the moment). A simple check of my report and/or score after the first, second or third late payment/default/arrears on existing loans should have been a red flag to these lenders.

    I have followed the advice on DebtCamel and sent an email to the complaints department of each of the lenders in question. I'll list these below. Note - these are just the 'payday' lenders, and not other credit cards or unsecured loans which would also have been on my credit report (also in arrears in some cases).

    The companies who have lent to me over the past 2 years are:

    Wonga - Multiple loans, current balance been passed to Moorcroft Debt Collection agency.
    Mr Lender - Multiple loans, current balance passed to SLL Capital - agreed to repay with a 35% discount
    The Money Shop - Multiple loans, all paid off.
    Wizzcash - Multiple loans, current balance being paid off in agreed instalments
    Payday Express - Current balance passes to BW Legal, payment plan agreed with them
    MyJar - Multiple loans, all paid off.
    WageDayAdvance - Multiple loans, all paid off
    Lending Stream - Multiple loans, balance passed to Credit Resource Solutions, payment planned agreed.
    Likely Loans - Not a payday lender, but still loaned to me when I believe they shouldn't have

    In the worst days of my addiction, I was shredding letters without even reading them, burying my head in the sand. I have asked all of the above for a summary of all borrowings so I can put a timeline together of what was borrowed and when. I'm told that I can seek refunds for irresponsible lending even if I have subsequently agreed a repayment plan with a third party collection agency.

    As an example, the most recent loan I got was from Lending Stream (not my first with them). This was for £1500 and was given despite my poor history and multiple loans with the other lenders on the list (plus my maxed out Credit Cards and other unsecured loans and overdrafts, defaults, arrears etc being quite visible on my Credit Report). I of course accept responsibility for taking out these loans and am willing to repay what is owed, but now looking at the past few years with a clear head, I do think the lenders should bear some responsibility. Even if they were to reduce the interest on some of these loans, that would be amazing. In the Lending Stream example above, I borrowed £1500 and the amount being demanded by CRS on their behalf is £2718. That's just ridiculous.

    I'll be getting in touch with StepChange as has been recommending to me from multiple advisors, but I do want to contact the above lenders in the first instance to see what can be done. Below is a copy of the email I have sent to them. I welcome any advice from other MSE'ers who have had dealings with these (and other) short term lenders.

    Thank You

    CopleyDog

    Dear Sir/Madam

    I will shortly be making a complaint to your company regarding irresponsible lending.

    To help me explain the details in full, I would like a list of all of the loans provided by your company to myself, showing when they were taken out, the original terms and how much has been repaid and when. This includes any top-ups or extensions to existing loans.

    In some instances, I may have fallen into arrears or defaulted on the agreed repayments. In these instances, please let me know the dates of any defaults or failures to pay. If the debt was passed on to any third party collection agent(s), please provide me with their details and the date(s) the debt was passed on if applicable.

    Please note I am only asking for details of my loans, I am not making a Subject Access Request.

    To assist you in finding the relevant information on your systems, my details are as follows:

    Name: xxx
    Address: xxx
    Date of Birth: xxx

    Please provide the information requested by Friday 18th May 2018, either by email (to this address) or via post to the address above.
    Last edited by CopleyDog; 05-05-2018 at 6:06 PM. Reason: 'Lending Stream' as one word was being censored and replaced with !!!!!!!!!. Have changed to two words!
    • Mr_T1987
    • By Mr_T1987 8th May 18, 10:22 PM
    • 2 Posts
    • 0 Thanks
    Mr_T1987
    Evening everyone, a newbie here so please be gentle.

    I haven't used a PDL for some considerable time now (years), I was fortunate enough to be able to break myself away from them and its a part of my life I don't particularly like to remember. The only lender I used was Wonga but I was stuck in the borrowing cycle. The whole borrowing again only a few days after repaying just to get myself through the month. And this went on for quite some time.

    Even though I haven't used them in a long time, I'm wondering if it is still worth pursuing a claim.

    If anyone was in a similar situation, how did it go?

    I've read through the information on the debt camel site, it all seems pretty straight forward but it's the whole historical element of my claim that I'm cautious about. I'd rather not deal with this company again if it'll end up as a dead end.

    Any advice would be very gratefully received.
    • sourcrates
    • By sourcrates 8th May 18, 10:39 PM
    • 15,752 Posts
    • 14,812 Thanks
    sourcrates
    Evening everyone, a newbie here so please be gentle.

    I haven't used a PDL for some considerable time now (years), I was fortunate enough to be able to break myself away from them and its a part of my life I don't particularly like to remember. The only lender I used was Wonga but I was stuck in the borrowing cycle. The whole borrowing again only a few days after repaying just to get myself through the month. And this went on for quite some time.

    Even though I haven't used them in a long time, I'm wondering if it is still worth pursuing a claim.

    If anyone was in a similar situation, how did it go?

    I've read through the information on the debt camel site, it all seems pretty straight forward but it's the whole historical element of my claim that I'm cautious about. I'd rather not deal with this company again if it'll end up as a dead end.

    Any advice would be very gratefully received.
    Originally posted by Mr_T1987
    Send a complaint letter, stating why you think the loans were mis-sold to you.

    (Check out the debt camel website for help with this)

    You normally have 6 years in which to complain.

    For the price of a stamp, why wouldnt you ?
    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/
    • Mr_T1987
    • By Mr_T1987 9th May 18, 12:01 AM
    • 2 Posts
    • 0 Thanks
    Mr_T1987
    Well I've just sent them an email so hopefully I'll hear something soon.

    I'll do my best to keep you all updated on any progress.
    • sallyannetag
    • By sallyannetag 9th May 18, 2:21 PM
    • 26 Posts
    • 17 Thanks
    sallyannetag
    Just a quick update:
    Northway Financial have offered £2790 which I have accepted.
    Lending Stream said 2 out of the 3 loans were affordable and have offered £134.40 as that's what I paid on the 3rd loan. I have accepted.
    Quickquid basically told me my loans were all too old even though I was still paying them in 2015. Its been referred to FOS.
    Wagedayadvance offered £3045.87. I have accepted.
    Wonga said no - off to FOS.
    MrLender initially offered £740.22, I went back to them and asked them to reconsider. They added the 8% statutory interest and have offered £866.20. I have accepted.
    Uncle Buck said affordable - have sent to FOS.
    Payday UK offered £197.67 - I have accepted
    Payday Express said the loans were affordable so I have sent it onto the FOS.

    So that's all outstanding either closed or off to FOS. Thanks so much to the original posters of this site - I am so glad I stumbled upon it in February - I am now £6385.32 better off which has paid off the consolidation loan I took out to clear all of the outstanding payday loans a couple of years ago and enough to pay for a holiday this year. Awaiting the decisions from FOS but happy enough to wait.
    • CopleyDog
    • By CopleyDog 9th May 18, 10:22 PM
    • 24 Posts
    • 11 Thanks
    CopleyDog
    Can I claim back refunds from PDLs where some or all of the debt is still outstanding and/or has been passed to a collection agency?
    • baggybreeches
    • By baggybreeches 10th May 18, 9:53 AM
    • 67 Posts
    • 132 Thanks
    baggybreeches
    Can I claim back refunds from PDLs where some or all of the debt is still outstanding and/or has been passed to a collection agency?
    Originally posted by CopleyDog
    Yes you can, in my case I had agreed settlement figures with the companies and then asked them to reconsider the affordability ( I did this with Uncle Buck and Wageday Advance).
    What they can do is use the overcharges to annul any outstanding balance (Satsuma did this with me) but as long as it gets you back to where you would have been financially then it's a bonus.
    • CopleyDog
    • By CopleyDog 10th May 18, 10:18 AM
    • 24 Posts
    • 11 Thanks
    CopleyDog
    So I have just submitted the below to SNC with the help of Resolver. Will update when I hear back...

    Dear Customer Relations

    I am writing to you to raise an issue about: Irresponsible Lending
    I have had a rolling credit line from SafetyNet Credit since 31/12/2016.

    These loans contributed to trapping me in a debt spiral, with the repayment taking so much of my wages that I had to borrow again to cover my next month expenses. You will note that my Credit Limit at SafetyNet Credit began at £350 and gradually increased over the following months to £1000, with repeated draw-downs of the whole available balance available. You should have realised from the number of times I rolled loans and/or repeatedly borrowed the maximum credit available that my debt problems were getting worse. It was not responsible to continue to lend to me. A check of my Credit File would have shown that I had multiple payday loans from various providers (as well as multiple credit cards and other unsecured borrowings) throughout the period in question and these increases should not have been provided to me. My Credit Reports would also have highlighted other problems including late payments/defaults and a Credit Score that was continually falling.

    You should never have given me these unaffordable loans. I would like to ask you to refund the interest and extra charges I have paid or have been applied to my account. The Financial Ombudsman suggests that statutory interest is added to this sort of refund.

    According to the summary I downloaded from my account on your website (attached), my total borrowings between 31/12/16 and 29/09/17 have been £6971.69, to which interest of £1283.38 has been added. In total I have repaid £6936.22, with the balance outstanding on the account standing at £1198.95

    I would like to ask you to refund these interest charges, which will effectively write-off the remaining balance owed. The remaining £84.43 should be forwarded to me with statutory interest applied as described above.

    I look forward to your prompt response on this matter. As recommended by Trading Standards, I would like to keep a complete record of my case, so please reply back via this email account.

    Yours faithfully,
    • baggybreeches
    • By baggybreeches 10th May 18, 12:38 PM
    • 67 Posts
    • 132 Thanks
    baggybreeches
    CopleyDog, just as a little note I would take out the actual amounts, you might find that the offer exceeds the amount you have calculated in which case you are shooting yourself in the foot! When they come back to you with an offer you will have an idea whether its more or less what you are expecting but put the ball in their court first.
    Also if you have an outstanding balance keep any funds away from the account your SNC is linked to as they will foreclose and take any remaining balance owed to them before they sort out your refund.
    • CopleyDog
    • By CopleyDog 10th May 18, 1:16 PM
    • 24 Posts
    • 11 Thanks
    CopleyDog
    CopleyDog, just as a little note I would take out the actual amounts, you might find that the offer exceeds the amount you have calculated in which case you are shooting yourself in the foot! When they come back to you with an offer you will have an idea whether its more or less what you are expecting but put the ball in their court first.
    Also if you have an outstanding balance keep any funds away from the account your SNC is linked to as they will foreclose and take any remaining balance owed to them before they sort out your refund.
    Originally posted by baggybreeches
    Thanks for the advice! Will remember when I do my next batch of letters
    • JuniperPanda
    • By JuniperPanda 11th May 18, 2:08 PM
    • 18 Posts
    • 11 Thanks
    JuniperPanda
    Ive been a head in the sand person for years horrible financially. I suffered from MH isues - it was so easy to say yes rather than no, but I digress- Ive read through a lot of your stories if I can offer mine too and get some advice and guidance on what seems like a positive supportive non judgemental thread
    My payday loans which accompanied my other untenable debt include(d)
    PDUK - many over 6 years, pursuing anyway as it was entry into this mess. No response they have another 7 weeks to respond as they said they had no record of me, but i got access to the old emails....
    Safetynet credit - only sent me a statement for one email address which I changed halfway through borrowing, they have 2 weeks to come back then I will take to FOS
    Avant Credit, Satsuma, P2P, Ferratum ,247 money box and Lending stream are all with FOS all said no.
    Mr Lender and Sunny have repaid me £347 and £419 respectively and both included interest at 8% so I was happy to accept.
    Uncle Buck and MyJar, I have just initiated the complaints with this week.

    Are other people extending the unaffordable lending to other areas - Eg I had a barclaycard, had 5 payday loans on the go and they upped my limit by 5k! I was as I said in a mental health crisis but coping - just. I am just curious as to how far and how appropriate it is to extend this method to other lending sources when the borrowing was taking place at the same time.
    Thanks for your time.
    • JuniperPanda
    • By JuniperPanda 11th May 18, 6:00 PM
    • 18 Posts
    • 11 Thanks
    JuniperPanda
    Almost forgot, WDA recredited all interest from loans 2-7 to my existing debt, reducing it from over 400 to under 175. So another result I can easily clear in the next 2 months.
    • salsapixie
    • By salsapixie 13th May 18, 7:02 PM
    • 12 Posts
    • 0 Thanks
    salsapixie
    Like many, I have taken out numerous PDLís, and had to rollover and borrow more and more to cover my expenses. I am arguing that they lent irresponsibly. Spending money was a way of dealing with my depression for years and this led me to rack up debts. I probably had about 8 CCJís and Iím down to one now, several smaller debts and student loans.

    So far:
    QuickQuid- refused to pay anything as over 6 years.
    Payday Express- refused. Referred to FOS
    Uncle Buck- partial refund. Paid off existing debt plus £190
    Moneyboat- refused refund. Not yet referred to FOS
    Sunny- awaiting response
    Ferratum- awaiting response
    Lending Stream- took over 8 weeks to reply. Referred to FOS
    SafetyNet- Refunded around £900 admitting part of complaint. This paid of debt and left me with around £200.

    So far so good. Itís settles a couple of debts and Iím getting towards being debt free. Never want to get into this mess again!
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