Jump to content


Irresponsible Lending Claims - Some over 6 Years


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2169 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi,

 

 

Since September last year, I have been pursing claims against a total of 17 Payday Loan providers whom I had taken various loans from during the period 2010 to 2014. Of the 17 providers, 6 have settled directly with me and I have currently have 9 claims lodged with the FOS.

 

 

The FOS have stated that they are currently trying to decide whether they are able to consider loans taken out more than 6 years before the start of an irresponsible lending claim, and cannot provide any timescales for the resolution of the issue. Does anyone have any guidance on a likely timescale for this to be resolved as I cannot find any further information?

Link to post
Share on other sites

Funny thing you asked... Read the guide on 6 + 3 :)

 

https://www.consumeractiongroup.co.uk/forum/attachment.php?attachmentid=69475

 

 

 

Thanks for the link.

 

 

My dilemma relates specifically to a claim against QQ with whom I had a total of 36 Loans (inc 11 rollovers), and 2 instalment loans with Pounds to Pocket from 2010 to 2014.

 

 

QQ initially offered to refund £1294, against an outstanding balance of £1450. I rejected this and raised a claim with the FOS, QQ have now offered to wipe the outstanding balance and refund £5,800, before the FOS has even considered the claim. However, QQ are refusing to consider the first 15 loans as they are all over 6 years.

 

 

I now have to make a decision as whether to ask the FOS to consider the claim without the first 14 loans or wait for the FOS to decide whether they have the power to rule on claims over 6 years.

Link to post
Share on other sites

Its up to you... 5,5k is a lot of money and to be scotfree of a balance outstanding is substantial...

FOS do quite often rule on loans over 6 years, but its whether you want to push it. I think you should accept 5,8k as a resolution IMHO.

 

As a calculation, how much do you think you should get back?

Have they agreed to wipe all negative info?

 

We could do with some help from you.

 

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

 

**Fko-Filee**

Receptaculum Ignis

 

Link to post
Share on other sites

The total interest paid on loans 16 to 36 is just over £6K, plus the usual 8% simple interest.

 

 

If you consider all loans then the total is nearly £8.4K plus 8% simple interest.

 

 

They have offered to remove a number of the loans from my credit file. But not the last 3, which for me is a bit of sticking point.

 

 

Does the FOS ever make a decision that is for less than the PDL lender has already offered?

Link to post
Share on other sites

  • 2 months later...

well done!

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...