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Irresponsible lending complaints in-progress

misselle asked:

So I’ve taken the bull by the horns and started the ball rolling against Wonga, Quick Quid, Sunny, MyJar, Lending Stream, Wage day advance and Capital Finance One regarding my payday loans. I got into a mess in 2010/11 with these and it went into a spiral of having to borrow from one to pay the other and in the end I had 8 loans all due at the same time from 7 different companies. The result wasn’t pretty I couldn’t pay them or my mortgage or council Tax.

I defaulted on them all. Came to repayment arrangements with some which I’m still paying off now as despite them being small loans with the interests and fees and me having to pay off mortgage arrears the payment was minimal.

I shouldn’t have been loaned to in the first place so I’m claiming back for irresponsible lending.

So far Myjar have admitted partial fault on one loan and offered to refund £17 and offset it against the £200 which they claim I owe them. I don’t I have repaid them £120 and have the bank statements proving that. My other complaint with them is that they registered a default against me 2 years after the event unfairly extending the debt. They’ve stated they will remove this if I pay the £200 – their £17 offer. Now I’m happy for them to offset what I believe they owe me back in interest against the debt which would then leave me in credit with them. I’ve gone back to ask if there is their final response so I can go to the FOS. I wasn’t sure if I should be asking for compensation for the default issue?

Lending Stream is almost a similar story. I had two loans with them within 2 weeks of each other and defaulted. They ignored my emails for months then put me onto a debt collector who also ignored me and then in 2015 registered a default for the debt dating it 2015 so 4 years after the default date. I borrowed £360 from them and paid back £420 before defaulting. They claim I borrowed £390 (bank shows credit total of £360) and have offered to write off remaining loan and give me back £25. Unsurprisingly I’ve said no and asked for a final response so I can go to the FOS.

Sunny I borrowed £225, rolled it over several times and at the time of defaulting I had paid back £301, I want the default removed and the interest refunded along with remainder written off as I technically have paid back what I borrowed.

QQ- owed £400 when I defaulted, had several previous loans with them including lots of rollovers and same day borrowing. If I get the interest and fees back I should have enough to negotiate with the debt collector they sold the debt to in order to do a full & final and hopefully get default removed.

Wonga- They wrote off my debt under their irresponsible lending but given that I’d paid back way more than I had borrowed from that loan and several previous I’m going after the interests and fees again. They’ve already admitted their irresponsible lending so I don’t think they should quibble too much.

CFO & Wage Day Advance, both similar, I still owe them money so the best I’m hoping for is the write off the interest and fees and reduce down to the original amount which I’ll happily pay the remainder off and also agree to remove the defaults. Although CFO I’d love to go to the FOS just so they can see their threatening debt collection practices and unbelievable “fines” and charges they have heaped on not to mention trying to offer me their resolve loan after I defaulted.

jonnyd46 replied:

Good luck – keep us all informed of progress

misselle replied:

Update: MyJar have agreed to write off the outstanding loan and remove the default from my credit report. The amount I would get back to leave me in credit if a pursued a refund would be minimal so I plan to accept this.

To me it is a good offer and I get rid of the debt and clear my credit score up a bit so all in all I’m happy with that outcome

jonnyd46 replied:

Well done!

misselle replied:

Just to give you another update I’ve been going back and forward doing a dance with Lending Stream and have today agreed to a settlement.

The refund amount is about £30 less than what I wanted back from them but given that I technically still owe them money (I have paid back the amount I borrowed and then some of the interest on top of that) but they’ve agreed to refund me most of the interest plus the 8% interest, write off the remaining loan and remove the two defaults on my credit file.

I probably could have pushed further for compensation for how they handled my situation when I told them I was in difficulty they ignored me for 3 months then registered defaults dated years later therefore extending the life of the debt but given my main aim wasn’t really the refund or compensation I just wanted the loans written off and my credit file so I’m happy.

At first they refused to admit no wrong doing but said they would wipe the loan but refused a refund of interest or to remove the defaults I refused. They then came back and said they would wipe the debt, remove the defaults and give a small partial refund again I refused and so came back today with their next officer to wipe debt and defaults and a larger refund plus 8% interest.

So anyone fighting Lending Stream they play hard ball but if you play it back you can get the result you want so keep going.

So that’s MyJar and lending stream completed Just waiting to hear back from

Capital Finance One
Wage day Advance
One Month Loan

James1664 replied:

My complaint with Lending Stream is with the fos as their offer was pretty poor given how many loans I had with them over the space of 2 years. £160ish refund? I think not

misselle replied:

Just to update you. I’ve heard back from CFO and have rejected their offer. Their treatment of me has been shocking and threatening at times and their offer was to reduce my outstanding arrears by a small amount. So I have refused.

I had several loans outstanding at the time of borrowing from them which outstripped my income and have paid back the majority of what I borrowed to CFO so I don’t think I should payback more than I borrowed which is what they were proposing to do.

So I’ve sent it to the FOS, I sent it 9 days ago but haven’t heard anything from the FOS regarding it being allocated to anyone but I did send a pretty comprehensive amount of supporting documents so I don’t think they will need anything additional from me to consider the case.

I’ve asked FOS for compensation regarding how CFO treated me when I told them of my financial problems and the fact that they kept encouraging me to rollover my loan or to use their resolve product along with various other threatening tactics which they used. I’ve also said I believe that CFO should reduce the loan to the original amount I borrowed less what I’ve repaid and I’m happy to pay the remainder which is miniscule.

I think the FOS may rule in my favour, I don’t want to go into too much detail but when I showed the emails from CFO to an adviser they were horrified, add to that the daily phone calls/texts/emails to me and threats to tell my employer I was in debt.

The others I’m still awaiting a response from are

Wageday Advance
One Month Loan

My 8 week deadline runs out on Wednesday so if no reply from then I’ll be straight off to the FOS with my complaints

Newstart85 replied:

Wow this is amazing. I have two defaults are ruining my chance of a Morgage atm I was the same a few years back robbing Peter to pay Paul. I have one with quick quid and payday uk. Have you got some type of a template letter I could have a look at ? I am useless at this stuff and could really do with some help? Thanks Natalie x

misselle replied:

Newstart, I didn’t use a template I just emailed them all stating why I felt it was irresponsible lending, such as not thorough enough checks, my previous borrowing history, how I was borrowing from several companies at once, how i’d pay one loan back and re-loan the same day that sort of thing. i said I felt it should have become clear I was reliant on the loans and was in the midst of a debt spiral. and a bit about my personal circumstances at the times I took the loans.

As an update on my other complaints:

I’ve heard back from the FOS regarding CFO, they have asked CFO for information and i’m being assigned an adjudicator.

My 8 week deadline ran out yesterday, today I received an email from One Month Loan stating they have done nothing wrong but as a gesture of goodwill will remove any adverse credit history, refund me the interest I’ve paid on the loan and have written off the remaining balance. Their offer is a little bit lower than I calculated and they aren’t offering to paid the 8% statutory interest but I’ve accepted as I do think it’s a decent offer.

WageDay Advance have written today to say they haven’t been able to investigate my complaint but I should have an answer by the end of May. I’m currently deciding if I should let them have until the end of May or if I should just go straight to the FOS. I’m curious to see what Wageday advance come back with as the loan with them I still have an outstanding balance. So i’m torn and may just let this one sit until the end of May.

No reply from

So i’m going to give them until Wednesday next week but in the meantime write up my stuff for the FOS about the case to get my ducks in a row with a view to get my complaints straight off on Wednesday if I don’t hear from Wonga or QQ by then

Newstart85 replied:

I was the same I manage to get the test paid before they went into default. I had to change banks and had then calling my work office for me up to 5 times a day. I could really do with these gone I can’t understand how I was approved. I was in so much trouble. I had cash converters

The money shop
Payday uk
Quick quid
Lending stream
Wage day advance
Mr lender.

These were literally just pay off each other. It’s a nightmare it was my o my way to pay the rest and be able to keep up with my house payments soon I was paid it was gone right into my over draft. 🙁

misselle replied:

So i’ve had a reply from QQ after chasing them today, basically the same lines they have been giving everyone else about how they deny all responsibility and they loaned to me correctly including a credit check.

They obviously ignored the numerous rollovers I had and the other loans on my credit file from other payday lenders.

So will be drafting a complaint to the FOS for QQ.

Can’t say I expected anything else from QQ if I am honest from reading how they have responded to everyone else.

Still no reply from Wonga or Wageday advance

James1664 replied:

Any news?

misselle replied:

Not much news I’m afraid I’ve got complaints into the Ombudsman about capital finance one, quick quid and Wingate.

I’ve had emails bad from the Ombudsman to say they’ve asked the businesses for their side and evidence and that an adjudicator will be in touch within 12 weeks but thats it.

Wonga have completely ignored me and the complaint despite being well over the 8 weeks.

I decided to give wage day adance until the 27th of May like they have asked mainly out of curiosity and that I don’t think I’ve got a particularly strong case with them. I still have a case but it’s not as strong as the others.

How are you getting on with yours?

James1664 replied:

Slowly 😕

misselle replied:

So I’ve had a response from the adjudicator in my CFO complaint and it’s not goood.

To be frank I can scarcely believe that they have even bothered to read the documents I sent in so much so that they’ve even said I had no outstanding loans at the time I applied to CFO which is rubbish i had several and I’d defaulted on them all.

They also state that they can verify my complaint of harassment because CFO don’t have records of what letters were sent or the content I’m astounded as I included a long chain of emails.

Apparently it’s also enough for the just to look a how much I get paid a month and the loan amount and judge it affordable without any income or expenditure or bank statements.

Needless to say I’ve gone back saying I don’t agree with their findings and included a further representation along with loan details.

I think this will go to the Ombudsman but it’s really knocked me

James1664 replied:

Any more news?

misselle replied:

So a small update, heard back from the adjudicator for the CFO loan and they still find in CFO favour so I’m going to ask that it be referred to the ombudsman, at this point I have nothing to lose. I’m still stunned at their findings to be honest I think they are looking at the fact that I had just one loan as no big deal but have failed to look at the bigger picture in that I had several outstanding loans at the time I applied to CFO and so should never have been accepted in the first place.

I’ve finally had a response from Wonga to my complaint, basically they find no fault in their lending, they admit their last loan was loaned irresponsibly but as they wrote that off they aren’t prepared to refund anything despite me paying back more than I had actually borrowed. It’s been with the adjudicator for a few weeks now so I’m hoping to hear back from them, I’m quietly confident that they should find in my favour.

I’ve heard back from the adjudicator today about the complaint against QQ and they have found in my favour with my last loan which I took from them, they’ve suggested that QQ should buy it back from the debt collector, reduce it to the amount borrowed and remove all trace of the loan from my credit file. I’m disappointed they didn’t find the other loans as irresponsible lending but I’m happy to have this removed from my credit file and hopefully come to an arrangement to repay the amount I still owe. I might be cheeky and see if they will accept a reduced offer to get it paid off as full and final.

Wage Day Advance have come back to me with their response, again denying all irresponsible lending so I’ve sent that to the FOS too and just waiting for a response.

misselle replied:

So a little bit of an update QQ have disagreed with the adjudicators findings and so it has been referred to the ombudsman to have the final say. I’m pretty confident they will agree that it is irresponsible lending although I don’t want to get my hopes up.

I’ve heard nothing further from FOS regarding my complaint about Wonga, I suspect Wonga has delayed as much with them as they did with myself.

No update on my CFO complaint which I asked to be referred to the Ombudsman.

Also no update either on my wage day advance complaint which I referred to the FOS.

The delays are a little bit frustrating especially as I’ve read so many different adjudicators come to different conclusions in almost identical cases so it’s a bit of a coin toss really.

nastyaheyyo replied:

I had several loans outstanding at the time of borrowing from them which outstripped my income and have paid back the majority of what I borrowed to CFO so I don’t think I should payback more than I borrowed which is what they were proposing to do.

misselle replied:

So I’m a little bit crestfallen having just come home to the Ombudsman decision on my CFO complaint. He’s agreed with the adjudicator.

They acknowledge that I had thousands in loans outstanding when I borrowed from CFO but say their check of just asking my income is enough they also say that it was CFO option not to arrange a repayment plan with me and their refusal to engage with me doesn’t count as treating me unfairly.

So CFO have been made to give me redress by the FCA and still want back more than I borrowed by double that’s despite me paying off nearly £100 of the original loan after I defaulted.

I won’t be accepting the Ombudsman decision as I won’t be bound by CFO disgusting offer.

I’m going to go back to CFO and make a full and final settlement offer to them of 150 if they refuse then I’ll pay them back at £1 a month an they won’t ever get their money.

So far i have had the same adjudicator for each complaint I have sent off so I’m feeling a bit like thats unfair and not exactly impartial but there’s nothing I can do about it really.

The real kicker is that if I had left this alone then my payday loan debt would have become statute barred in January. I feel so bloody stupid now for thinking justice would prevail.