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Update - Ombudsman complaints


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Hi all

 

 

A quick update on my final 3 complaints regarding irresponsible lending all with the Financial Ombudsman

 

 

Wageday Advance - complaint rejected by adjudicator. escalated to an Ombudsman who has disagreed with adjudicator and will give final response this week.

 

 

Lending Stream - received e-mail from adjudicator upholding my complaint. She has written to lending Stream with her response asking them to refund all interest on all loans. They can refer to an Ombudsman and I think they probably will as they have been awkward throughout the whole process although she has said unless they can come up with more information then the outcome is unlikely to be different.

 

 

PoundstoPocket - heard from adjudicator, he is hoping to provide a response by the end of this week.

 

 

Nearly at the end of a long struggle with payday lenders. So far have had refunds from 7 out of 10 lenders and it looks promising for the other 3.

 

 

Would advise anyone in a similar situation to make a complaint.

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This is looking very positive indeed :)

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2: Does your Bank play fair - You can force your Bank to play Fair with you

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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This is looking very positive indeed :)

 

Couldn't have done it without all the great info and support from this site.

 

3 years ago I was in a deep whole and I couldn't see a way out. Massive thanks to anyone who ever helped me along the way.

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:thumb:

Have we helped you ...?         Please Donate button to the Consumer Action Group

Uploading documents to CAG ** Instructions **

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Hi

 

How did you get on with lending stream. I have complaint currently with FOS with them. They do not reply to emails. I have a feeling they are going to try and take as long as possible to delay outcome

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Hi

 

How did you get on with lending stream. I have complaint currently with FOS with them. They do not reply to emails. I have a feeling they are going to try and take as long as possible to delay outcome

 

I am still waiting to hear from adjudicator. Lending Stream have until 9th September to respond to her decision. She found in my favour and said they must refund all interest and remove all loans from my credit file. She said they can ask for it to be referred to an Ombudsman but unless they can provide new info then she doubts the decision to be any different. I fully expect them to leave it til last minute and probably refer it to an Ombudsman. They have used every trick in the book so far to delay as much as possible.

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do you have a template for your complaint to the ombudsman, as I need to go there with myjar and 247 moneybox

 

I don't have a template. I filled in the form from the Ombudsman website. I just listed the reasons for irresponsible lending which in my case was the fact I already had loans with other payday lenders and I questioned whether they had done reasonable checks as to whether the loans were affordable.

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I got a copy of my credit file from noddle to show that I had other payday loans and not in a good financial position. I also sent these to payday loans. Quick quid and wage day advance decide clear loan and mark as settled

 

Nice one :)

Have we helped you ...?         Please Donate button to the Consumer Action Group

Uploading documents to CAG ** Instructions **

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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It's a lottery with Fos. I took a complaint to them in which I had 8 accounts in default on credit report and showed them I was borrowing from 5 other payday lenders. They were initially going to upheld the complaint and told the lender it was because they didn't ask for enough information about my outgoings, then surprise surprise the lender sent them a detailed list of outgoings that they said came from me and they had 'forgot' to send before. It wasn't my outgoings and I sent documents to dispute it, but they still took their side.

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I am still waiting to hear from adjudicator. Lending Stream have until 9th September to respond to her decision. She found in my favour and said they must refund all interest and remove all loans from my credit file. She said they can ask for it to be referred to an Ombudsman but unless they can provide new info then she doubts the decision to be any different. I fully expect them to leave it til last minute and probably refer it to an Ombudsman. They have used every trick in the book so far to delay as much as possible.

 

Not surprised to say that Lending Stream left it to the last day and then asked adjudicator to refer it to an Ombudsman. Can up with some spreadsheet listing my salary and outgoings obviously not provided by me. Salary changes by hundreds every month and outgoings fluctuate between £200 and £900!!! Don't know how these companies get away with the lies. Just have to hope the Ombudsman agrees with the adjudicator.

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  • 3 weeks later...

Some good news!! Received the final decision from Ombudsman upholding my complaint. Lending Stream have to refund all interest and charges plus 8% and remove all loans from my credit file.

 

 

Result. They have been awkward from day 1. No doubt they will delay in paying me. Does anyone know what time frame they have to cough up?

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Some good news!! Received the final decision from Ombudsman upholding my complaint. Lending Stream have to refund all interest and charges plus 8% and remove all loans from my credit file.

 

 

Result. They have been awkward from day 1. No doubt they will delay in paying me. Does anyone know what time frame they have to cough up?

 

Well done. I think it's 28 days but they might pay sooner rather than later because the 8% pa simple interest calculation is from the date the payments were made to the date they refund, so every day adds a little bit extra. Someone at the ombudsman will probably contact you when they've recieved your acceptance and Lending Stream have sent the proposed payment to them. Make sure you check the interest bit because mine was quite a bit wrong and the lender had to recalculate, there's some simple interest calculators online that will help you and it's good if you know the exact breakdown of the payments you made and the date you paid them.

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Thanks. I do have a spreadsheet with all the dates of each payment. Found a simple interest calculator and worked out the interest. Sent my acceptance form to Ombudsman. See how long they try and string this out. As you say the longer they do the more it will cost them.

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Thanks. I do have a spreadsheet with all the dates of each payment. Found a simple interest calculator and worked out the interest. Sent my acceptance form to Ombudsman. See how long they try and string this out. As you say the longer they do the more it will cost them.

 

Have received my refund from Wageday Advance. Wasn't a large amount but they fought it all the way.

The Ombudsman informed Lending Stream I have accepted their decision and have told me it I now up to Lending Stream to sort out the refund with me. I haven't heard anything from them although I believe they have 28 days. Has anyone else received a refund from them? How long did they take. They have been very awkward from day 1 so not very confident I will receive it.

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  • 3 weeks later...
Some good news!! Received the final decision from Ombudsman upholding my complaint. Lending Stream have to refund all interest and charges plus 8% and remove all loans from my credit file.

 

 

Result. They have been awkward from day 1. No doubt they will delay in paying me. Does anyone know what time frame they have to cough up?

 

I have e-mailed Lending Stream a couple of times as the 28 days is up on Monday for them to refund the interest and charges. They have finally replied today saying "they are in the midst of discussing this case to ensure a fair outcome" and will get back to me shortly.

 

What is there to discuss?? It is simple, refund all the interest and charges plus 8%. I knew this wouldn't be easy. I doubt it will be sorted by Monday. Has anyone else received refunds form them as a result of an Ombudsman decision? How long did it take?

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I have e-mailed Lending Stream a couple of times as the 28 days is up on Monday for them to refund the interest and charges. They have finally replied today saying "they are in the midst of discussing this case to ensure a fair outcome" and will get back to me shortly.

 

What is there to discuss?? It is simple, refund all the interest and charges plus 8%. I knew this wouldn't be easy. I doubt it will be sorted by Monday. Has anyone else received refunds form them as a result of an Ombudsman decision? How long did it take?

 

Just a quick update.

 

 

I rang Lending Stream who said they were still dealing with the Ombudsman?? and could not discuss with me. I told them they should now be dealing with me to arrange the refund. They denied all knowledge of the Ombudsmans final decision??!!?? Anyone else had anything similar. Any suggestions on what I do now.

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Just a quick update.

 

 

I rang Lending Stream who said they were still dealing with the Ombudsman?? and could not discuss with me. I told them they should now be dealing with me to arrange the refund. They denied all knowledge of the Ombudsmans final decision??!!?? Anyone else had anything similar. Any suggestions on what I do now.

 

Decided to e-mail adjudicator who in turn e-mailed Lending Stream. Had an e-mail from them today with an offer. About 1k short!! They don't seem to understand 8% simple interest. Sent a spreadsheet back with the figure I am expecting. The wait goes on!!

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I recieved a final decision a few weeks ago and was hearing nothing via the normal routes. I previously asked for all the evidence from the fos on my complaints, from this I had the direct email, landline and mobile that the person dealing with the fos had disclosed to the adjudicator. After sending payment demands in caps and full of warnings (similar to ones I recieved) and informing them I would keep contacting them through email, telephone and mobile untill I recieved the money I was owed, it was sorted very quickly.

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Finally agreed a refund amount from Lending Stream which I'm happy with. Hoping to receive it by the weekend. Nearly at the end of a very long and stressful journey. Learnt my lesson the hard way. Received over 12k altogether in refunds. Will never use these parasites again. Would urge anyone to get your complaints in. Its,a long process but worth it. Have finally got my life back.

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Finally agreed a refund amount from Lending Stream which I'm happy with. Hoping to receive it by the weekend. Nearly at the end of a very long and stressful journey. Learnt my lesson the hard way. Received over 12k altogether in refunds. Will never use these parasites again. Would urge anyone to get your complaints in. Its,a long process but worth it. Have finally got my life back.

 

Very pleased to hear this indeed. Well done for persevering :)

Have we helped you ...?         Please Donate button to the Consumer Action Group

Uploading documents to CAG ** Instructions **

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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