ba85
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Thanks dx100uk for your advice, but I'm specifically asking whether anyone has an opinion regarding the attached CCA. I've had chasing letters from Lowell for the last 2 years and they've not taken any action. It's coming fairly close to being SB now.
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I have an old catalogue account with Littlewoods. According to my credit report, it was opened in March 2007 and defaulted in November 2009. Now the debt is with Lowell who have been chasing me for a couple of years. I've had the usual letters saying they may pursue legal action against me etc etc I requested the CCA and received the attached document back. It was signed in April 2007. I have ignored all recent letters and have just received several offering various discounts of 30/40/50% and they will update my credit file to show partially satisfied. Does the attached CCA look like it could be enforceable? I see no point in agreeing a discounted payment now as it will do my credit file no good anyway when it is due to drop off in November but I don't want a CCJ either.
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I had the same email from Wonga yesterday and my debt which was sold to PRA has been written off. This comes after they rejected my complaint in January stating they carried out appropriate affordability checks. My complaint was with the FOS and the adjudicator found in my favour after Wonga didn't respond to them. I was awaiting the final decision from the Ombudsman. I'm pleased the debt has now been written off, but annoyed with Wonga for fobbing me off for so long and they ignored the FOS as well.
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Exactly! They have so far got away with doing the bare minimum. My final response email from Wonga says "We are continuing to work with the FCA on this forbearance programme. We will continue to contact people directly if this changes. You do not need to do anything in the meantime." In other words, they aren't going to do anything unless the FCA forces them to. It is completely wrong that the FCA agreement allowed them to exclude customers whose debt was sold on. I specifically asked the FCA that question in October and was told "the current voluntary requirement (VREQ) agreement which requires Wonga to make significant changes to its business immediately only affects current customers as reflected in the press release; however, the FCA is still working with Wonga to identify whether any other consumers will need redress." That aside, I believe Wonga were irresponsible in my case and did not carry out sufficient affordability checks and that's why I have gone to the FOS.
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Hi RosePetalBeauty, have you heard any more from Wonga or the FOS? I received Wonga's final response to my complaint today. They do not uphold my complaint and reiterate that their forbearance programme agreed with the FCA is for existing customers only. They say they don't agree the loan was unaffordable and they carried out a credit check. Strange I think as that would have shown more than a dozen recent defaults on my file at that time. I am now waiting for the FOS to be in touch.
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I won't let them fob me off and I'm going to pursue this however long it takes. The problem is the FCA let Wonga come to a voluntary agreement, they didn't rule that ALL customers would have their loans written off. I have this directly from the FCA "the current voluntary requirement (VREQ) agreement which requires Wonga to make significant changes to its business immediately only affects current customers as reflected in the press release; however, the FCA is still working with Wonga to identify whether any other consumers will need redress."
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I think everyone in this thread agrees with you. My complaint is now with the FOS although I don't have much faith in them either. Wonga told me they needed another 6 weeks to review the affordability of my loan beyond the 8 weeks they are allowed. I refused and sent it to the FOS although they will continue to stall this as long as they can.
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Hi RosePetalBeauty I'm not sure if I missed this as well, but this is the only thing I can find https://www.wonga.com/help/changes-lending-criteria-forbearance-programme It says: Am I still entitled to debt forgiveness if my debt has been passed to another company? Please direct any queries to Wonga until you receive further notice from us, and not the company who took over ownership of your debt. Another evasive statement from Wonga! It was the only reference I could find to debts passed to another company. I have now completed the FOS complaint form and submitted it as they have had their 8 weeks. What really annoys me is that I have emailed them this week to remind them the 8 weeks have expired and ask if they are going to issue a final response. In the same email I asked them to send a statement of account listing every loan I had from them and all the interest, fees and charges. Today they emailed me a statement for my last loan, mentioned nothing about previous loans and nothing about my complaint!
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I still think Wonga are being deliberately evasive on the issue of loans they have sold on until the FCA requires them to do something about it. On another forum (not sure I should post a link here) an official FOS representative has posted that if you feel a loan was miss-sold or wasn't suitable for you, then making a complaint is the right thing to do. They go on to say that even if the debt was sold on, the original company would still be liable for complaints about miss-selling. I am in the process of sorting out all my debts and looking at the time I applied to Wonga, I was in arrears with my mortgage by several months and had a dozen defaults on my credit file. Clearly I made many financial mistakes myself, which will take me many years to sort out, but I also think Wonga were completely irresponsible in lending me money and did not carry out appropriate affordability checks.
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No, the last they said was the account was on hold indefinitely until they hear from Wonga. I've replied to Wonga saying I will be going to the FOS after the 8 weeks is up. They've had long enough.
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I emailed Wonga for an update as I made my formal complaint 6 weeks ago. I got a response saying "Unfortunately we are unable to resolve your complaint within 8 weeks of receiving it, as our investigation is taking longer than expected. We anticipate being able to provide you with a response within the next 6 weeks." I believe Wonga are just stalling to see if the FCA requires them to include previous customers whose debts they sold on in their forbearance programme.
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Remove Minicredit/OPOS unenforceable charges?
ba85 replied to RosePetalBeauty's topic in Minicredit /Minicashloans
I can only suggest he tries. I was in a situation where I defaulted on several debts in 2009 and all were recorded on my credit file. I did nothing to help myself and resolve the situation and made it worse by taking out multiple payday loans in 2011. If they had carried out any form of affordability or credit check, I should have been refused further credit. I am now taking control and sorting out all my debts. I was not expecting them to just write off the debt and was prepared to negotiate, but there was no way I was going to accept over £700 in charges for a £100 loan. -
Remove Minicredit/OPOS unenforceable charges?
ba85 replied to RosePetalBeauty's topic in Minicredit /Minicashloans
I had not repaid anything on this loan. I had loans for 3 or 4 months from them, repaying each and taking another. I also was doing the same with multiple payday loan companies. I think it was unaffordable on the basis I was repeatedly taking loans from them and the other lenders. I don't believe they could have carried out any form of credit check and they have not provided any proof that they did. -
Remove Minicredit/OPOS unenforceable charges?
ba85 replied to RosePetalBeauty's topic in Minicredit /Minicashloans
I also had a payday loan with Minicredit, also sold on to Opos. Reading other threads I believe they are all part of the same company. My original loan was £100, but the balance shown on my credit file was £831 I emailed Minicredit stating this: I believe this loan should never have been issued due to affordability checks not being undertaken. As such, I would like to make a formal complaint. The resolution I would like to take place is as follows: All outstanding debts cleared from the account. The default removed from my credit file. I note that you are regulated by the Financial Conduct Authority and, in result of a deadlock letter being issued, I am able to refer this complaint to the Financial Ombudsman. I would appreciate it if you could send me full details of your complaints procedure. I got a reply stating that "As a goodwill gesture we are willing to write off the outstanding balance however the default will remain on Your credit file and will be marked "satisfied". " After further correspondence they agreed to completely remove the loan from my credit file including the default. I have checked and this has been done. -
Found old 2011 Cabot CCJ for a Halifax CC - anything i can do?
ba85 replied to ba85's topic in Financial Legal Issues
I thought it would be a difficult one to set aside. It was defaulted in September 2009 with a balance of approx. £2500 according to my credit report. I don't know when it was sold to Cabot but the CCJ amount and current balance is over £3000.
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