Hi tricia44, The broker companies have to refund you the broker fee minus 5 GBP which they can keep. Most of the companies you listed will do this if you request it in writing (e.g. email), although they have up to 30 days to do so (which I guess leaves you short of money for this month if you were looking for a payday loan in the first place). So make sure to send each of these companies a request for refund. I would also report them to the OFT as it seems they have passed you around which should not happen (they should only pass you to actual payday lenders, not other brokers). The OFT will then investigate, but they will not get involved in your case directly. As a word of warning: Do not take out a payday loan. Never. Ever. There must be another way. Ask your local credit union. If you are starving, go to a food bank. If your car is not working, hitchhike to work. Ask friends or family for help. Anything really, but not a PDL. Even in your current situation please do not take out a payday loan. There is such a high risk that it will spiral out of control very quickly. You might start borrowing 300 GBP to get you over this month, but where do you take the 390 GBP next month to pay the PDL back? I started only with a 100 GBP PDL loan a few years ago and ended up in the tenth of thousands of debt, paying over 1000 GBP in interest alone month after month.

Hi Megan99, I would advise to send them a basic I&E sheet. I am aware that you might have done this already, but who knows where this has been landed at QuickQuid, those companies are not very organized. Name the I&E sheet "Personal financial statement", do not put any creditor names in there (only e.g. CreditCard 1, CreditCard 2, Loan 1, PDL 1, PDL 2, etc.), and leave just enough monthly disposable income to cover for your desired monthly payment to QuickQuid.

Hi Megan99, Continue to send quick quid repayment plan offers, they will accept at some stage and they do repayment plans over more than 4 months.

Hi san67, WageDayAdvance always setup direct debits instead of card payments or CPA. They set this up the day before payment due. Even when on repayment plan they set these up the day before due date for the full amount, so these have to be cancelled manually every month. Anyway, a direct debit is returnable under the direct debit guarantee, so instruct your bank to return the direct debit as unpaid. CPA and debit card payment are two different things, you have to cancel both, therefore if you only cancelled CPA some companies can still take debit card payments, my advice would be also to cancel your debit card and get a new one (you might have lost your debit card).

Hi, I have also sent the following to their claims department as per their complaints procedure: "COMPLAINT - TO THE CEO Dear Claims Team, I have received the following reply from the Customer Service Manager, but I am still not satisfied with the response. Therefore per your complaint procedure I am sending you the previous communication below for referral to the Chief Executive Officer. Kind regards"

Hi, Another update, have received the following response from Minicredit: "Thank you for the reply! If you are still dissatisfied, you can request a review from the Financial Ombudsman Service." They still do not mention anything if this is their "Final response", but I will treat it as this now and have now filed the following complaint with fos: "Microcredit Ltd opened on 17 January 2012 a "Running Account Credit" with me. This type of agreement is similar to a credit card and includes a credit limit and the possibility to withdraw funds into my bank account monthly and repaying them on my next payday. In order to receive the funds on the same day as requested via the Faster Payment Service of the banking system they charged a "Fast Advance Transmission Fee" in the amount of 19.50 GBP. The agreement from 17 January 2012 for this fee stated: "Fast Advance Transmission fee is applicable to all loan applications if not notified in written form at least three days before sending loan application. If your bank account you have provided does not support faster payments scheme we may still charge £19.50". My understanding therefore was that this fee is to cover the charges implied by their bank to their company for using the faster payment service. Microcredit Ltd has recently provided me with updated terms and conditions for my agreement in which they have removed the Fast Advance Transmission Fee and have introduced instead a Drawdown Fee of 19.50 GBP. I complained to Microcredit Ltd about the Fast Advance Transmission Fee and received different justifications for this fee, as follows. 1) "The fee is payable to cover the administrative costs Microcredit Ltd incurs to have the application assessed in such a short period of time". I would like to mention that the loan application was assessed on 17 January 2012 as this is a running credit account. Further assessments to adjust the credit limit should not be payable by me and should not be in relation to the faster payment service. 2) "The costs of the affordability assessment and identification cheques that are performed using the services of our partners". 3) "manual assessment of each application is covered by the Fast Advance Transmission Fee". I would like to comment that each time I withdraw funds the process was completed in seconds, I therefore doubt that a manual process is involved. 4) "For a Credit Company, the faster payment is not free of charge.". My understanding is that the funds were received from the bank RBS which does not charge its business customers for using the faster payment services. Even if Microcredit Ltd have been charged by their bank I doubt that this was for 19.50 GBP." "I would like for Microcredit Ltd to refund me the fast advance transmission fees, which they charged me seven times, plus 8% interest."

Hi Lottilox85, The only reason I can think of for them to want you to withdraw your complaint with fos is to save the 550 GBP it will cost them if this goes through fos. Webloanprocessing does not really care how many complaints via OFT or fos they receive, they care about the money. I would agree to them to withdraw fos and I would try to negotiate the 170 GBP down even further, e.g. by offering 100 GBP (which is roughly in the middle between 42 GBP and 170 GBP), but this is only my opinion.

Hi, I doubt they would have given me that information. Interesting that they say their bank charges their company for faster payment services when in fact they are banking with RBS which does not charge business customers for using this service.

Hi, Another update, I have received a further email from Minicredit - please see below for their email and my response to it. I find the part about the FOS handling these fees very interesting, if anyone ever went to fos for any fees and charges and have already a response from fos please let me know. Anyway, I will not give up and will actually take this even to court if necessary. Here is the email from Minicredit: "Dear xxxxx, Your complaint has been referred to me according to the Formal Complaints Procedure. I apologize for the delay in answering your e-mail but I took time to process the previous correspondence between you and Microcredit Ltd. We have received the following information previously from the Financial Ombudsman Service: The application of interest and charges by a lender is a commercial decision for a business to make, and it is not for the Financial Ombudsman Service to comment on whether or not the charges are unfair. In investigating disputes of this nature, we must look toward the terms and conditions of the specific agreement to decide whether or not the interest and charges have been applied in line with them. Every Customer has the possibility to consider the terms and conditions of the loan agreement before signing it. When you signed the agreement, you also confirmed that the charges and fees are acceptable. We understand that you might have missed the fact that a fee is payable from the loan amount, but you have applied for 11 loans of which 7 were issued. If you considered the Fast Advance Transmission Fee £19.50 to be unfair, you had the possibility to cancel the loan agreement within 14 days from the date you signed it and later request regular transmission. Microcredit Ltd deducted the fee of £19.50 to cover the costs of the assessment made by the loan managers and transfer, so that you could receive the funds within 15 minutes after the loan was issued. For a Credit Company, the faster payment is not free of charge. The information regarding the fee is available before you register: https://www.minicredit.co.uk/explain_me After reading your e-mail I would like to ask you to read the loan agreement very carefully, as the following was written in the agreement: Fast Advance Transmission fee is applicable to all loan applications if not notified in written form at least three days before sending loan application. If your bank account you have provided does not support faster payments scheme we may still charge £19.50 Fast Advance Transmission and handling Fee £19.50. The Credit Agreement was available on your MiniCredit.co.uk online account before you applied for the loans. The request for regular transmission had to be sent in written form at least 3 days before applying for a loan. You had the possibility to send the regular transmission request for the next loan application right after you received a loan, so that if you applied for a loan in the future the fee would not have been payable. Although you consider that by making the complaint to the Financial Ombudsman Service, Microcredit Ltd should act against the terms and conditions of the mutually agreed Credit Agreement, we will still not be providing you with the refund you have requested. I understand that this decision might be disappointing, but it is based on the assessments made by the Financial Ombudsman Service on complaints related to the £19.50 Fast Advance Transmission Fee. Kind regards, xxxxx MiniCredit.co.uk Head of Customer Support and Claims Department And here is my response to them: "Dear xxxxx, Thank you very much for your email. After reviewing your email I still consider the fast advance transmission fee unreasonable and in no relation to the actual costs for the faster payment service incurred by your credit company. In addition I have again reviewed the credit agreement regarding this: Fast Advance Transmission fee is applicable to all loan applications if not notified in written form at least three days before sending loan application. If your bank account you have provided does not support faster payments scheme we may still charge £19.50 Fast Advance Transmission and handling Fee £19.50. From the text above I see no mentioning that this fee is in any relation to a credit assessment by a loan manager, neither from the text itself nor from the wording "fast advance transmission fee". Also all loans were approved within seconds so no manual review seemed to be involved. Thank you for providing a previous opinion from the Financial Ombudsman. I might still take this case to the Financial Ombudsman as each case is individually different. Therefore please let me know if the below was your final response or if not provide me your final response, so I can take this further to the FOS. I might also take court action to clarify and recover these fees. Thank you very much and Kind regards xxxxx"

Hi sianib, A reasonable figure would be 400 GBP original loan 72 GBP original interest 12 GBP default fee 12 GBP second default fee 48 GBP interest (=8% of 400 GBP over 18 months) This is a total of 544 GBP owed. You already paid 390 GBP and you should receive the 250 GBP compensation (for the hassle you had), so currently they should owe you (and pay you) 96 GBP (544 GBP - 390 GBP -250 GBP) to settle. The fos deals mostly with banks. They have no idea that PDL companies like Toothfairy hike up fees and interest unproportionally with the intention to then offer a huge discount - you have to tell them that this is what you suspect. Tell the fos also that these PDL loans are for short term purposes only and it is unproportionate to keep adding these high interest rates, only 8% is reasonable.

Hi, if you complete their online form take care to only leave enough disposable income to cover your intended repayment rate. They will agree to whatever rate is left over on their income and expenditure form.

Hi Marguerite Tuffs, The companies will usually wait until the original repayment date (or in case of Pound2Pocket until the next instalment date) and try to take the full amount from your account (therefore the importance to cancel CPA and debit cards and watch the account for DirectDebits setup by PDLs). Once this date has passed and they failed to take payment they will respond to your repayment plan offers. As you have informed them upfront, no default fees should be due and interest/charges frozen. Wonga should be no issue, they do repayment plans up to 24 months and are fairly easy to deal with. Quickquid usually only do 3-4 months and Pounds2Pocket usually only does 1 month repayment holiday, at least this is what they will initially tell you. You have to be firm with both and insist on a repayment plan which suits YOUR needs, in the end they will give in (I had longer repayment plans with them but it was a fight).

Hi orfoster, Yes, I gave them 8 weeks to respond (which will be 3 October) before it goes to fos.

Hi JGJ, I had no problem with WageDayAdvance to have my repayment plan accepted and I paid by standing order to their bank account. However, every month 2 days before payday they setup a new DirectDebit for the whole amount (which I cancelled every month 1 day before payday). Their bank account details are: WageDayAdvance Account number: 90931772 Sort code: 20-45-14

Hi, I received first response from one of the PDL as follows: "Thank you for contacting Quick Quid. It is our highest priority to resolve any client issues as soon as possible. To address your concerns , copies of your loan contracts for reference are available once you log into your account . Under our website under code of practice the disclosure entails: Tell you how the loan works and the total cost of the loan (including an example of the price for each £100 borrowed, together with fees and charges) before you apply. Check whether the loan is suitable for you taking account of your circumstances. Carry out a sound, proper and appropriate affordability assessment and credit vetting for each loan application and before the loan is extended (rolled over), to check you can afford the loan. If you have any additional questions please feel free to contact our department." Here is my reply: "COMPLAINT - TO THE MANAGER Dear Madam/Sir, Thank you for your response to my complaint from 22 July 2013. You state a "sound, proper and appropriate affordability assessment", however these loans (from xxxxx 2009 to xxxxx 2011 - Loan IDs: xxxxx) were taken out successively over nearly 2 years, therefore indicating unaffordability. In addition when contacting you during this period you stated repeatedly that I can easily repay in full and take out new loan immediately and that no other repayment options were available. I therefore still believe that these loans were not sold to me correctly. This type of loan is a short-term loan and not intended for long-term borrowing. Unless you can provide proof that these loans were appropriate for my circumstances, I will expect a full refund of all fees and interest that I have incurred as a result of having these loans, in total 5,615.00 GBP, plus 8% interest. If I have not had a satisfactory response from you within eight weeks from 22 July 2013 I will contact the Financial Ombudsman Service to formally investigate my complaint. Kind regards"