PayDay UK multiple credit records for one loan?????

[Jamesbrit1]

Hi all, I'm guessing this is the right place to list this question, please redirect me if I'm in the wrong place.

 

On 7/2/12 I applied to PDUK for a £200 loan and it was accepted, I phoned them several hours later as it was not in my account and they said it had bounced back (I must of given them a wrong digit from my card) so they reprocessed the loan again with the correct details this time.

 

The next day I noticed they had put in £300 into my account which was not the amount I requested so I phoned them and they advised I couldn't just give them £100 back they would have to take the full amount back then rearrange a new loan which was fine.

I then sorted the correct loan and it was paid into my account with no further issues.

 

The trouble is that they have put three loan applications on my credit file in two days which has had a massive impact on my credit file and score.

 

Is this fair and accurate to put information on about a l

[Jamesbrit1]

Sorry pressed send by accident.

 

Is this fair and accurate for them to record information on my credit file for a loan I never received as there was a mistake with my details and a second record from when they put too much in my account?

 

I have spoke to PDUK and they say they can't do anything regarding the recorded details, is this correct?

 

Any advice would be appreciated please,

 

James

[BRIGADIER2JCS]

Certainly totally wrong as they made the errors.

So place a notice of dispute on the CRA files asap.

Then a formal complaint to PDUK addressed to the

Data Controller along these lines:

Ref:xxxxxxxx xxxx

Formal Complaint.

 

Dear Sir or Madam,

 

I write in reference to my loan application made on xxxxxxx on which

PDUK made a number of error when transferring the loan to my account

(send a screenprint of the CRA files) which has resulted in incorrect and

damaging entries being made on Credit Reference Files.

I did NOT make 3 applications so 2 of the searches are wrong and must

be removed immediately as they have seiously affected my credit rating.

 

As this PDUK are resposible for this damage to my financial reputation

I seek restitution in the sum of £300.00 and the removal of the entries

and the loan written off.

The claims from your staff that the entries cannot be changed is also

totally wrong and retraining is needed.

 

I will hold my complaints to the ICO an OFT regarding the errors

and incompetence until I receive your reply which is required with

in 10 days.

Send it recorded delivery James and track delivery.

[Jamesbrit1]

Thanks BRIGADIER2JCS thats great advice and thanks for the template. The loan is paid off now in full just waiting for it to show on my credit file.

 

I have made a complaint to the FOS and they have wrote to PDUK and they say they are investigating, I've received a letter of acknowledgement from PDUK and FOS. when I spoke to the complaints team at PDUK they seemed genuinely shocked that experian would tell me that multiple applications in a short period of time will have a negative impact on credit even if its settled on time and in full, PDUK asked for evidence of this so I got proof from experian and forward it to them.

 

Im now awaiting there reply, if they don't agree and play ball the FOS say then they can take it further on my behalf which is what I guess I would do next.

 

I am intrigued however by the restitution you mention, how would I go about that after I have stated in the letter that I will send?

 

Also on a slightly different note, I have sometimes deferred the payment and paid the interest and most of the balance leaving a little to pay for the next month but I did not realise this starts a new credit agreement. So i have had 8 payday loans over 2years and as I've deferred it shows as 16 on my credit file, again I'm guessing they can do this but it makes me look like I've been relying on them, is there anything I can do about this?

 

Many thanks

James

[Jamesbrit1]

I've got an update guys which is that pduk have agreed to remove the first two loans from my credit file as a gesture of good will, yey!!!

[renegadeimp]

Goodwill gesture? I hope they mean because they made an error and are trying to cover their tracks.

[Jamesbrit1]

Guess what renegadeimp, I'm really enjoying this, think I'm going to become one of those professional pain in the @rse's!

James

[Jamesbrit1]

Any ideas on how to claim the mentioned £300 restitution.

I'm sending a complaint off in the morning asking for this and I guess they are not just going to send me a cheque so what do I do next when they tell me to go away?

I've also got a new thread going about there misleading claims that there loans may help build your credit file which is,

http://www.consumeractiongroup.co.uk/forum/showthread.php?346870-Payday-loans-and-credit-files.&p=3803362#post3803362

 

Any help and advice will be greatly recieved.

James

[renegadeimp]

Getting the £300 could be troublesome or time consuming. Focus on the main issue for now, the restitution can come later. You could even consider taking them to court over it.

[Jamesbrit1]

Thanks for the advice guys. here is what I have done.

 

This is my first letter for restitution after they reported three loans on my file instead of one,

http://www.consumeractiongroup.co.uk/forum/showthread.php?343127-PayDay-UK-multiple-credit-records-for-one-loan

 

 

10/04/12

 

Formal Complaint.

 

Dear Sir or Madam,

I write in reference to my loan application made on 07/02/2012 on which PDUK made a number of error when transferring the loan to my account which has resulted in incorrect and damaging entries being made on Credit Reference Files.

I did NOT make 3 applications so 2 of the searches are wrong and must be removed immediately as they have seriously affected my credit rating.

 

As this is PDUK fault you are responsible for this damage to my financial reputation and I seek restitution to the sum of £300.00 and the removal of the entries.

 

The claims from your staff that the entries cannot be changed is also totally wrong and retraining is needed.

 

I will hold my complaints to the ICO an OFT regarding the errors and incompetence until I receive your reply which is required with in 10 days. A copy of this letter has been sent to both the ICO, FOS and the OFT.

 

James

 

then I got a reply that they are removing the two entries although its my fault, but no mention of the restitution.

 

Then I raised the concern with the FOS who are writing to PDUK on my behalf and will take action when I get my final response.

 

so then I sent them this letter.

 

 

23/04/2012

 

This is a official complaint.

 

Dear Sir/Madam,

Reference - xxxxxx, I am not happy as you have totally ignored my letter dated the 10/04/2012 that was sent using Royal Mail recoded delivery to claim for £300.00 in restitution for the damage caused to my credit file. It is for the time and stress caused to my self resulting from this. I feel this amount is appropriate due to the time and effort I have had to put in. Initially contacting your unhelpful customer services department and being lied too, then having to contacting the FOS because of your unwilling ness to resolve the problem and writing to Payday UK. It is also for the damage to my good name as you damaged my credit file by registering two extra applications in two days. If you decline to pay the £300.00 for restitution please do not hesitate to send me a final response so that I can escalate the matter to the FOS and/or start legal proceedings against MEM Consumer Finance trading as Payday UK. Registration Number: 04786727 Consumer Credit License: 539935

 

My new complaint comes after I have spoken to Experian, Credit Expert. You claim on your website that “Payday UK can help you Rebuild your Credit” and that payday loans from your company “may help to rebuild your credit rating”. I have taken a large majority of my payday loans from yourself under the impression that it would help rebuild my credit rating but this turns out to be untrue and a lie. I have spoken to Experian who I view my credit rating with and they have told me that “you should apply for a maximum of 3 types of credit in 6 months, otherwise it will make you look desperate for credit", i.e. bad. It appears to be your procedure to offer to have a new loan set up for when you pay your existing one off as is my experience with PDUK. Therefore PDUK sales tactics to to offer new loans on a monthly basis which means potentially if a customer takes up your offer of having a new loan they could end up with 6 in 6 months.

 

Experian have also said that lenders like to see stable accounts that run for a period of time, i.e. 12 months and over etc... I have just got off the phone to experian and they confirm that payday loans have a large negative effect of a credit file, as they are simply not open long enough.

 

This means that there is no way you can build a credit report up using your service. I feel like I have been miss sold Loans from PayDay UK MEM Consumer Finance and had to pay a massive APR for the privilege of only damaging my credit file .

 

By using your service I have actually done nothing but hurt my credit score.

 

I phoned MEM today 23/04/12 and referred me to a page on Experian's website, questions and answers with James Jones. Please see the link below.

 

http://www.experian.co.uk/consumer/questions/askjames246.html

 

I have already pointed this article out to Experian earlier today as It contradicts the advice Experian give to customers. The advisor has referred this piece to the management team as Experian advisors say that a payday loan will not help credit files to be rebuilt and actually cause harm.

 

I would like all entries from MEM Consumer Finance to be removed from my credit file with immediate effect due to your miss leading information, I have included a copy of my original letter sent 10/04/2012 and a picture of the misleading information that is on your website that makes people believe that your service can improve credit reports when they can not. I have also included the contested piece of mis-information from the Experian website that your advisors refer to. I have lodged a complaint through the Financial Ombudsman Service, there reference is xxxxxxxxxxx and you will be hearing from them shortly.

 

I look forward to receiving your reply which is required within 10 days.

 

James

 

Now I am waiting for my reply, any ideas on what they will do next?

 

James

 

Ps, sorry if my writing is bait all over the place but I'm dyslexic but think I'm doing a good job lol

[BRIGADIER2JCS]

No need for any apologies.

 

Good work!!

[Jamesbrit1]

No need for any apologies.

 

Good work!!

 

So what do you think of the argument? I can't find any similar posts so I don't have a clue?

James