It would appear the stumbling block is that Northway have somehow convinced the MFSA that credit checks and affordability checks have been carried out. It is obvious these have not been completed as they do not show up in any credit files. My opinion is that Northway carry out only a basic identity check and bank check to ensure they can get their hands on the repayment They are justifying affordability as the fact we had to money on payday, regardless of how little was left following debiting the full amount and the fact that many people had to take out immediate reloans the same day to pay household expenses or because they had no money left How the MFSA can say this practice is justifiable is beyond be. I actually feel it was entrapment with the knowledge we would be in a cycle of reloans by lending irresponsibly To my mind a check should have been carried out each month and the loans cancelled or reduced to help customers trapped in such a cycle In a sense I feel embarrassed I did not recognise this and default earlier but when faced with reloaning or repossession I took the preferable option Someone needs to stop these crooks but if the US Federal Goverment is on their case s well as the UK Customers all via the MFSA and they still do not accept our complaints are justifiable I hold out very little hope of a resolution in the customers favour

I have emailed back to the MFSA showing details of the bank statements I sent in order to reloan and have asked them to reconsider. I have asked if they feel a sum of £78 is sufficient to live on for an entire month after my mortgage and the loan payments were deducted and have stated this proves the loan was clearly unaffordable I honestly cannot believe the MFSA are taking the side of Northway as it is very clear that no checks were carried out and this company was nothing but a glorified loan shark. Northway just sit back laughing when I ask them to reconsider My only hope is that if we stand together on this the MFSA will see a pattern of irresponsibility and rethink things Draft a letter asking for proof of affordability and send it back to the MFSA as an appeal - if all it costs is the time to do an email we really have nothing to lose Good Luck

Did you manage to get any further. I have appealed the MFSA decision but have heard absolutely nothing since Think Im fighting a losing battle with them as they seem to be siding with Northways ficticious credit checks Good Luck Andrea

Been told absolutely nothing I can do and that the MFSA are happy sufficient checks were made into affordability. Neither they or Northway will provide copy of these checks and state in taking out a reloan I was basically admitting it was affordable in signing the agreement If checks did exist into income and expenditure they were created by Northway. None of the uk credit file companies have evidence od a aearch and Northway do not mark credit files with their loans as they are classes as overseas. The worse example I can give is they asked for proof a loan had been paid before they would reloan to me. The focument had to show my current balance ..... the document I sent to the MFSA showed that on payday after Northway took my loan and my mortgage was paid I was £78 overdrawn. I have sent copies of every document sent to Northway asking if the MFSA think the loan was affordable or if I was trapped into reloaning ....they have failed to respond and have basically said I should think myself lucky Northway have waived the balance outstanding and basically the £3500 interest and fees paid on a £675 loan over 18 months was justifiable. Have to say it is very big of Northway to waive the balance as I have since found out that it would be very difficult to enforce any form of legal challenge for recovery as they did not have a UK base at the time. This company needs exposing and I am happy to join forces with anyone to ensure that they do not have a full licence in the UK based on how they conducted business in ghe past. They should be closed down not welcommed onto the UK market.

Having just spoken the the FOS this is not the case. The FOS cannot act retrospectively and as the interim license was only put in place in earlier this year along with UK offices only loans taken out after that date can e looked into by the FOS Not to sound cynical but it would appear Northway have let a few test cases go through the MFSA and once these were not upheld have moved to the UK safe in the knowledge that complaints will not be liable for compensation I am amazed that the MFSA have not investigated further. The response I have is that Northway performed affordability checks when clearly documentation I have sent proves otherwise and that on payday I was reliant on a reloan to live. Neither Northway or the MFSA will send copiea of the affordability checks so I suspect these may not exist Has anyine else heard back from the MFSA Thanks Andrea

My complaint with the MFSA was turned down as the feel Northway acted responsibly. I have appealed but heard nothing

As an update the FSO are taking steps to ensure that the complaints procedure is amended to remove thw FSO from appearing to be the body who adjudicate. Interestingly they state that when I originally submitted the complaint they were never aware of this and feel Northway may have changed the website recently to include the FSO address which is very sneaky With regard to online chat I spoke to a very nice man who genuinely thought I was interested in reloaning. When I sent him the screenshot of the FSO complaints procedure and asked him to explain why they were pretending the FSO could legislate and misleading cuatomera he promised that someone in a senior position would get back to me. Amazingly a week later I am still waiting for a call or email... why am I not surprised The company is shady. Not once was I asked to provide income and wzpenditure details and was never credit checked. The only requirement to reloan was to send proof the previous loan had been paid in full I dont think I will get anything from the MFSA. Thet state it is a complex and difficult case. My mission now is to see Northway removed from the UK loan market as they are definitely still trading as of tonight

I completed this and sent in sometime ago but have yet to receive anything other than an acknowledgement

No. I havent paid them anything since 2011. I defaulted on my payment as it was becomming unmanageable. I was paying 300 interest on a 650 loan and they were taking 60% of my salary on payday forcing me to have to reloan immediately...my own stupid fault I know but I was in a bad situation back then on months 1 and 2 and never got out of it until month 20. They hadnt chased payment ever but when I complained about affordability and responsible lending they declined to discuss outright however the MFSAs involvement saw them writing off the default amount. The MFSA did however advise to accept as an interim solution and to allow them to inveatigate further eapecially in light of cases brought by the US Government and the fact they are stating the FSO can adjudicate on complainta

I too think it is a lost cause but someone needs to take action yo stop this company misleading potential customers and stopping them dealing with an unregulated company. I have emailed them and the MFSA and FSO to ask why they are being allowed to get away with this. If I get anything back it will be a miracle but hopefully they will stop trading as they clearly state complain to a body with no juristriction Thanks everyone. Ill let you know if they reply

Had a loan with this company which was reloaned 20 times in 2010/1. The loan was half my salary and stupidly I got in a debt trap I complained in August and was told they werent willing to uphold my request for repaymenr of fees and charges. I then went to the FSO who stated as Northway were a Maltese company I needed to go through the MFSA which I have. I looked at yheir site today and they are still telling customers if complaints are not handled satisfactorily the FSO will adjusicate. Surely this ia unlawful and misleading Has anyone had any positive experiences of receiving resress from this company and what is their current status as regards who they are accountable to The whole situation seem shady at best Thanks Andrea

PDL Victim Hi there I was wondering what the outcome was with northway I had a payday loan with them for 21 months which amassed over 3k of interest. I defaulted with a balance of 900 3 years ago. I wrote to them claiming irresponsible lending and they wrote back saying although they did not credit check at the time they did nothing wrong I sent yhe final response to the FSO whodirected me to the one in Malta Within 3 days I had a revised letter from northway denying irresponsibility but writing off the balance as a gesture of goodwill Im not sure if the Maltese FSO would be in a position to uplhold my claim or rescind the offer on the table atm What happened in your case. Did you ever recover interest charges I tend to think such a fast turnaround in the offer means they are running scared if the cases passes through sdjudication Any advice? Thanks Andrea