Payday Loan Compensation-Can you claim-well you should try.

[Tawnyowl]

Do not let these Lenders escape.Many have headed for the hills when the FCA brought in a few rules to tame them a touch.

You have been targeted by predators from many shores.

 

I am still not happy in my opinion that many are allowed to go away and count their dosh and seemingly to me get away with things. Not made to pay back

They extracted money out of Communities with the biggest gold plated money extracting hoovers in the world. Straight down your throats ,into your pockets the hoover went. In your wallets, your purses your friends your family affected everywhere. Sucked it clean out and left nothing. Dust friends that is all they left. Nothing but dust.

Good job I am not on the CFPB in America or the FCA here.

It would be the biggest pay back in history. They,the Lepers of Lending would be quaking I tell you that. They would be shaking with fear hiding behind their wallets.

 

Do not let the problems,the charges the fees they ripped out of your purses,your wallets your communities be forgotten.In the mists of time.

They extracted money from you with the biggest racket since the sub prime days.

 

So at least try to claim some back.

Remember it is better to try and fail than not to try at all.

I hope many will try.

 

Payday loan compensation – can you claim?Just going to paste a little of the article.

It is important to read the full article.

The link is at the bottom of the post.

If you do not get any joy which you should you can go much further.

The link explains how far.

 

Step one – get the facts

The first thing is to assemble a detailed list of the loans you had. Write to the lender and ask for the following information for any loans they made to you:

 

The date taken out, whether you rolled the loan, the date the loan was repaid or how much is still outstanding;

The interest and charges that were added;

Whether you missed any payments;

Whether the lender performed a credit check before lending the money initially and on any rollover.

Step two – ask lender for a refund

Next you need to write to the lender again, say you want to put in a complaint because the loan you were given was not affordable and ask for a refund of the charges and interest added. Use the affordability checklist above and put in details of your situation. I can’t give a template letter because it is all going to depend on your situation, but letters could include phrases such as:

 

“At the time I took the loan in August 2013, my hours had been cut at work and I was struggling with my normal expenses.”

“My credit record would have showed that I was already in arrears on my loan from xxxx bank.”

“I couldn’t afford to repay this loan, so I had to take out another payday loan with xxxx.”

“After I had rolled the loan twice I was so worried about the interest going up that I repaid it even though this mean not paying my council tax and other bills.”

“I borrowed £250 from you for 30 days. My monthly income was only £980 and my rent and season ticket to work came to £600. I could not have repaid this loan and afforded to eat and pay my other bills.”

“I took out 4 loans from you between 2011 and 2013. I repaid your loans with loans from other payday lenders and repaid their loans by borrowing from you. You should have realised from the pattern of increasing loan amounts that I was not coping with my debt.”

 

 

And this might help you compose a complaint and can be downloaded to your computer and sent.

And give you a little practise.By the time you send it i am sure it will be perfect.

Sample letter

Complain to your lender (sole name)

​Use this letter to contact your lender first before complaining to the Financial Ombudsman Service.

https://www.nationaldebtline.org/EW/sampleletters/sole-letters/Pages/Complain-to-your-lender-%28sole-name%29.aspx

 

 

Create your letter by filling in your contact details, account number and any extra information you want to include in the grey shaded areas below. Today’s date will be added automatically. Download your letter to your computer for saving and printing by clicking on ‘Download pdf’ or ‘Download doc’ on the left. Sign each letter and enclose a copy of your budget if you need to. Keep a copy of all the letters you send.

 

Come back and let us know how you go on.

If you want to give us a idea before you post the letters what you say feel free.

It may help others in asking for some of these rip off fees,charges back. From the Lepers Of Lending.

Good luck in your quest.

And remember there are many reasons to ask for your money back.

 

And if you succeed with those few pounds you get back,go and put a few pounds away in the Credit Union.

Where are they some may ask.Well a link for you.

 

Find your local Credit Union.

http://www.findyourcreditunion.co.uk/home

 

Let us get them wriggling round like ferrets in a sack.

Unfortunately i have to admit this was not my saying but Stella Creasys MP for Walthamstow who is not to keen on legal loan sharks targeting communities.

 

Last thing today-Strictly Come Dancing is on,cant miss that.One persons experience.

 

I have now had responses from all 11 payday loan companies and all bar one have agreed to my complaints and i have successfully reclaimed £7,628 in interest, charges and compensation!

 

Bye for now.

Tawnyowl.

Edited October 27, 2015 by Andyorch
External link removed

[azzadle]

I'm just browsing through FOS complaints and loads of PDL complaints are upheld because they don't lend responsibly. Really hope mine does!

[shywazz]

just a thought, do you enclose the one pound postal order when requesting information from the loan companies ? or just write and ask for the information...

[Tawnyowl]

A similar question was asked on the link.

Cheque Centres have asked for a £10.00 ‘Data Subject Access Request’ Is this legal. I will pay it as I had quite a few cheques with them but just wanted to check it out first

 

The answer was-

Legally they are allowed to charge that. If you have kept enough paperwork you may feel that you can manage to make a good claim on the basis of what you have.

 

So if you do not have all the info yourself maybe best to pay the fee.You do not want any delays.

Then the clock starts ticking.40 Days i believe for the info you asked for to be sent to you.

Although ten pounds when short is a lot to find at times i must admit.

Well over one hours work at the minimum wage.

 

But if you have all the paperwork,bank statements with all charges ,fees etc, which i suppose not many keep there would be no problem.

I hope a charge,similar to the Charge Of The Light Brigade is going to happen and many thousands of people at this moment are looking for the statements in cupboards and drawers then typing away writing to these companies saying our turn now legal loan sharkie.

Time those fees you ripped out of our pockets are back where they belong,sharkie boy.

Our turn now.

Tick Tock,Tick Tock.

[Tawnyowl]

A tune for you while you fill the letter in.

While you look for things.

American yes but do not underestimate the guy who sings.

He is a true Sharkbiter.

A consumer Lawyer.

Remember those letters,phone calls,texts you received at all hours,the pain and stress caused to you.

Do not let those feelings fade away.

And claim it back.

A tune for you that will make it come back.Make you remember.

Make those Legal Loan Sharks throw that golden money extracting hoover away.In a skip.

[shywazz]

no paperwork sadly, just info from my credit reports dating back to 2010 although Wonga was defaulted back in 2010 with balance owing, it no longer shows on any reports, just states account status closed ? Payday default from 2011 still on report, with small balance owing, no paperwork for that account either, but going to send E mails to see what info I can dig up.....

[obiter dictum]

Are they only going back 6 years??

 

Bugger if they are as mine have all dropped off my credit file over the last six months

[thorntondog]

Tawneyowl based on your experience - do the PDL companies usually agree to the complaint before you have to go to the financial ombusdman?

 

Im hopeful- I had 10 loans with my jar over a year and still have one of them in a repayment paln. I have just sent 10 letters off- fingers crossed.

 

Do you think I would be successful if I did this with a high interest usecured loan I had from every day loans- It wasnt a payday loan but I had a loan of £1200 and I have to repay £3000 of which I am still paying back. I have always had terrible credit rating fro unsecured loans and PDLs.

 

Hope my luck is in at last.

[Tawnyowl]

Hi thorntondog.

I am not to sure on that.

But always believe it is best to try and fail than not to try at all.

This thread was formed from a article i read from the Debt Camel who is a person who is a advisor for the Citizens Advice.

I find articles like that very rarely.

So just added a letter template from the National Debtline people that people can use to plan their attack on the lenders,i mean ask for the rip off fees back download to computer and send.You can play around with it for hours till you are happy with things.

 

It is very important to make the letters clear and factual.

Just in case you take it further.

Which if anyone is reading this do not worry about that.Do not worry for one moment.

Some of you may think oh no who am i going to be dealing with.Perhaps further down the line.If needed.

People that is all.And we can help if you are finding it to difficult.

When time allows and you perhaps find it hard what to say just open a thread.

We will help compose a letter to fit your circumstances.

My quill and ink are ready if you need that kind of help.

Go for it.

 

Just like to find things that people can use that is all.It is a long time since i was in serious debt trouble.

Came here and slowly the problems evaporated with help given by many on these forums.

So really i have a little experience that is all.

 

And sometimes i can advise in my limited knowledge of things learned on the forums over the years.

And i hope i have helped a few.As i was helped myself.

Just like writing about things.

 

I am so pleased that you have fired 10 letters off.Let us know how you go on.

We support you all the way through your adventure.

Many millions of people have been targeted by the predators on both sides of the Atlantic and elsewhere.

And i am hoping that things like this can spread across many shores and people ordinary citizens can get redress for the pain and stress and financial loss they have been put though.

 

Like i say better to try and fail than not to try at all.Nothing to lose perhaps a lot to gain.

Best wishes thortondog may you succeed in your quest.

Tawnyowl.

[thorntondog]

Thanks so much- your support is very motivating.

 

I am ready to fight xx

[caro]

Are they only going back 6 years??

 

Bugger if they are as mine have all dropped off my credit file over the last six months

 

Why would they only go back 6 years?

[obiter dictum]

Data protection act??

 

Only obliged to hold data for a six year period after that processing has ended??

 

I suppose i could try the six years start from when the defaults dropped off my file, worth a shot i suppose

[thorntondog]

I logged into a payday loan website that I used a long time ago just out of curiosity today and all my loans were listed with the loan numbers and amounts from 2009.

 

maybe its worth trying

[Tawnyowl]

Hi obiter dictum

There is no time limit as far as i know on making a claim.How far back you can go.

If you have the paperwork that would be great.

If not a SAR.

 

If anyone is considering a SAR,hit the black inked SAR and read carefully.

If not a member of the CAG maybe time to join.

We are a friendly lot.Then you can see the SAR and other top secret things.

Register link here.Only takes a minute or two.

http://www.consumeractiongroup.co.uk/forum/register.php

 

He who dares may win obiter dictum and thorntondog

Get in there like a mosquitos.

That are starving, in need of a feed.

 

My only worry for a few is the lenders who may have gone into administration.

And as i have not researched that i can not say who they are.

But will when time allows this week.

[Tawnyowl]

Sorry thortondog.

I logged into a payday loanicon website that I used a long time ago just out of curiosity today and all my loans were listed with the loan numbers and amounts from 2009.

 

maybe its worth trying

Writing at the same time you were posting.

A swarm of mosquitos arriving at some payday lenders door.

Get in there,claim it back.

 

shywazz-missed your post.

no paperwork sadly, just info from my credit reports dating back to 2010 although Wonga was defaulted back in 2010 with balance owing, it no longer shows on any reports, just states account status closed ? Payday default from 2011 still on report, with small balance owing, no paperwork for that account either, but going to send E mails to see what info I can dig up.....

 

Good luck,if no joy let us know.

We will come up with something to help.

 

Good evening to you all out there in webland.

Have a pleasant evening,what is left of it.

I am off to roost now.

See you tomorrow

Tawnyowl.

[shywazz]

Just had E mail from Wonga... As sent them E mail asking if I had any outstanding loans etc.... Reply..... We can confirm you do not have any balance outstanding with us..... so guess my loan from 2011 was written off, as balance then was over 900 quid..... just looked on both my credit reports and bal does now say ZERO and closed...... No defaults showing either..... No reply from Payday uk yet....

[fletch70]

Couple of questions

1) Would the Limitations Act apply to this?

2) The vast majority of my PDL's still have outstanding balances , when I hit the buffers I did it in style so have not repaid the only one of note is WDA , there are many rollovers but at last count the outstanding balance was over £900 made up of loan+1 months interest and maybe a couple of £12 charges . I figure over the course of time I have probably paid about £900 in interest , so it all equals out, is it better to let sleeping dogs lie

To be honest I can not remember the PDL's that i settled , cash genie for a much reduced balance and maybe 1monthloan .

Any thoughts?

[Tawnyowl]

A bit of info on the Limitations Act 1980.

1st one is very detailed.

http://www.legislation.gov.uk/ukpga/1980/58

 

2nd one is from Stepchange .

http://moneyaware.co.uk/2013/10/statute-barred-debt/

 

The vast majority of my PDL's still have outstanding balances

 

Well personally i would find peace at night if these were sorted out.

I find debt can give some insomnia,worrying about the next letter to pop through the door.

I would check my credit file report and then see when defaults happened.When i took all my loans out.

 

I did that a long time ago and all details were there.Which surprised me and helped me sort things out strangely enough.

Strange how things seem to vanish and hide themselves away in places you can never find them when you want them.

 

And then think to myself have i any reason to challenge these loans,rollovers, such as affordability at the time given things like that.

I am sure there will be reasons you can find to try to get some charges back or money written off your loans perhaps.

 

And once everything is sorted out one way or another it will give you some peace.

Nothing worse than waiting for the a demand for debt coming through the door.

6 years for unsecured and mortgage shortfalls up to 12 years.

 

I understand the hitting the buffers in style.

I smashed clean through the buffers,splinters everywhere, not slowing down at one time.Took some stopping as well.

Well the judge finished me when he said you are now Bankrupt.

That seemed to cure me quick enough.

I hope i have helped slightly.Not making light of any problem it is just the way i deal with things.

 

Would have liked to know when you took them out.If you can find out perhaps you can take it from there.But be careful.

The second link explains things.

I am no expert but like things done and dusted one way or the other.Others may well advise.

 

Is it better to let sleeping dogs lie

Sleeping dogs can wake up and give you a nasty bite in regions you would rather them not.

Best wishes

Tawnyowl.

 

shywazz-sounds like good news.

Just had E mail from Wonga... As sent them E mail asking if I had any outstanding loans etc.... Reply..... We can confirm you do not have any balance outstanding with us..... so guess my loan from 2011 was written off, as balance then was over 900 quid..... just looked on both my credit reports and bal does now say ZERO and closed...... No defaults showing either..... No reply from Payday uk yet....

 

How unusual-900 pound debt written off.

Loan taken out 2011.

You have been in touch with Wonga recently.perhaps 4 years later.

Let us hope Wonga did not sell the debt on as they do to a DCA and closed your file.

Have you moved since defaulting.

If so 2 years to catch up with you.If they know now where you live is the possibility there now for starting the 6 years off again.From a DCA point of view.They now would own your debt,not Wonga.I would be looking hard if that had happened of course.

A interesting story 900 pounds written off. And no DCA showing 900 on your credit file.

 

I hope you get good news from Payday UK.Keep us updated.Very interesting.

 

22-15-Have these forums just been invaded by some creature from another dimension.Noticed the threads have been removed now.

Are we perhaps upsetting some.Getting on someones nerves perhaps.

Good.

Sorry about that just a quick remark.