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About smudgexxx

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  1. I agree! Good advice as always
  2. Just thinking out loud here, so if, I escalated to FOS, the worst that can happen is I accept the final offer?
  3. Hi Silverfox, what would your gut instinct be?
  4. Hi everyone, me again....thoughts please. Thank you for your correspondence of 28 March 2016, please accept our apologies for delay in issuing our response. We have investigated your complaint and our findings are set out in more detail below. Our Understanding of Your Complaint You have stated: “In the period between 19th July 2012 and 1st July 2013, I took out a total of 23 loans in total amounting to £6614 before your interest and charges were added on. I had been borrowing more frequent and greater sum of money as time went on. These payday loans trapped me into a debt spiral, with the loan repayment taking a huge chunk out of my wages, so then I had to borrow again from you[(or Quick Quid)to cover my next month’s living expenses. For this period my income averaged about £1200 a month at most. My living expenses varied at the time, however a huge amount was needed to repay previous creditors/CCJ’s which were lodged against me at the time. This shows that there was no way I could afford these loans. When I repaid them, I had to borrow more to survive the next month. And by the end the interest repayments had mounted so I was often having to borrow more. You should have realised from my loans that my debt problems were getting worse. You should also have been able to tell this from my salary and my credit reports which showed you the other borrowing I had and my debt problems. So you should never have given me these unaffordable loans. I would like to ask you to refund me the interest and extra charges you added”. Our response In investigating your case, we have considered the affordability of your loans based on information available to us at the time of application. That includes your personal circumstances, the value of the loans and top ups against your stated income, the frequency of your borrowing and any other factors which indicated financial difficulties as a result of the loan, such as arrears and repayment arrangements. Before approving a loan, we carry out a credit reference agency check. This information is available to us from CallCredit and Experian and can be accessed instantly by us when we receive a loan application. When you applied, we combined that data with the personal data you provided to us including salary, employment, marital status, dependents, home ownership status, motor owner status amongst other information, and we also considered your repayment history. All of this information was entered into our underwriting system which uses an advanced algorithm to underwrite the loan as well as carry out an assessment of affordability. You achieved an acceptable underwriting score and the loans were approved on that basis. You have told us you have taken a loan with another lender in order to repay your Wonga loans. If you are struggling to repay that loan, we would encourage you to get in contact with your lender to discuss your circumstances with them. They will be able to put in place a suitable repayment plan in order to help you to repay in a sustainable way. You can also get free debt advice from a number of organisations including: · Step Change Debt Charity - 0800 138 1111 · National Debt Line - 0808 808 4000 · Citizens Advice - 03444 111 444 You have referred to the interest charged, our website and customer journey is designed to provide customers with all the information they need to make an informed decision about whether our service is appropriate for them. The “sliders” on the homepage allow customers to work out the exact costs upfront of the amount they would like to borrow for the term they select. Each time you took a Wonga loan, you were also presented on screen with a loan agreement, terms and conditions, Standard European Consumer Credit Information Document and a Loan Explanations document before accepting the loan. These documents were also sent to you by email. You were offered the opportunity to consider the documents and encouraged to read them carefully before accepting the loan, and you confirmed that you had done so. The documents set out the interest rate and the consequences of any failure to repay the loan on the promise date, including the default fee. You were therefore aware of that interest and charges which applied to your loan and accepted the terms of the loan before you entered into the agreement. Having looked in detail at your loan history, we see all of your loans were repaid in full and on time, there were no defaults, arrears or repayment arrangements, and the amounts you borrowed represented a reasonable portion of your stated income. However, some loans may have been unaffordable in their specific circumstance as they were taken in the same pay period as other loans, and when considered collectively they were high in comparison to your monthly income. Outcome Based on the above, there may have been more that we could have done to assist you in relation to the loans identified and so we have decided to uphold your complaint relating to those loans. Additionally, we will also request for the redressed loans to be removed from your credit record. This may take up to 30 working days to be updated fully on your credit file. We would like to offer £47.85 which is an amount equal to the interest and fees on the following loans: Loan reference Date Interest and fees 93591782 20/06/2013 £14.17 70954078 30/11/2012 £8.38 66125444 19/10/2012 £7.46 65092371 10/10/2012 £17.84 Interest of 8% simple per year has been added to the total redress for each loan from the date the loan was taken out until the date of calculation. Please see the outline below. interest and fees £47.85 8% interest net £10.74 total settlement £58.59 tax 8% interest gross £13.43 basic rate tax deduction £2.69 Compensatory interest is subject to income tax at the basic rate under UK tax legislation and, therefore, tax will be deducted at the basic rate of 20% from any payments made to you. If you do not pay tax, you may be able to reclaim some or all of this tax reduction from HM Revenue and Customs. If you are a higher rate or additional rate tax payer, you may have to pay additional tax on the compensatory interest via your tax return. Please see HMRC.gov.uk for more details. If you choose to accept this offer it will be in full and final settlement of your complaint. Please let us know if you wish to accept this offer by emailing customercomplaints@wonga.com or by calling us on 0800 316 6745. As we have migrated to a new system we no longer hold your previous bank account details. We would be grateful if you could therefore provide us with proof of your banking details. This can include a screenshot of your account statement, but will need to show your name, the sort code and account number. This is our final response, however if you are not satisfied with it, you have the right to refer your complaint to the Financial Ombudsman Service, free of charge but you must do so within six months of the date of this letter. If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances. For more information on the Financial Ombudsman Service, please see the consumer information leaflet found at: http://financial-ombudsman.org.uk/publications/consumer-leaflet.htm. If you want a hard copy of the consumer information leaflet, please call us on 0207 138 8330. The address of the Financial Ombudsman Service is: The Financial Ombudsman Service Exchange Tower London E14 9SR
  5. so you did use Arkell v Pressdam too! :smile:
  6. what would you write back?
  7. Thank you for contacting QuickQuid. The contents of your email were duly noted. We apologise if there was any delay in responding to your complaint. Your query raised several questions on loan affordability. In order to better assist you, we ask that you fill out the below information so that we can thoroughly review and respond to your complaint. Questionnaire 1) Recently, we have seen an increased number of complaints where the complainant has obtained a template from a website or blog. Did you use a website template? If so, can you please provide the name of the website? 2) Did you tell us that you were experiencing financial hardship? If so, when did you tell us of your financial difficulty? 3) Please provide a copy of a bank statement from the time of your loan(s). 4) Please provide a copy of a payslip from roughly the time of your loan(s). Once we receive the information back from you, our complaint team will diligently review and assess your complaint. As you will see from our complaint procedure, we have eight weeks from the date we receive your complaint to send you our ‘Final Response’. If at that time you are still unhappy with our decision, you will have six months from the date of our 'Final Response' to refer your complaint back to the Financial Ombudsman Service for them to adjudicate in the matter on your behalf. For more information about our complaints procedure, please visit the 'Contact Us' section of our website (https://www.quickquid.co.uk/contact-us.html). If you have any queries, our Final Resolution Team is here to help. Yours sincerely,
  8. Most likely, letter sent, just having the entries removed would be a big + ! thank you again
  9. I think maybe one or two were rolled over, i'm not 100% certain but i seem to recall it, and the amounts were increased (additional borrowing00 I've gone through my bank statements showing the money coming in but i think i had another account the money went out of. I didn't see any credit searches going back that far (i mistakenly thought it was helping my credit rating having the loans and paying them off) I don't think i lied but i do think if they had looked at my financial position at the time, i had defaults and also unsatisfied cci's all over the hockey! (Last and final one, which was satisfied 3 years ago comes off tomorrow!) I ended on getting another job and working 70hour weeks to get myself back on the straight and narrow +CAG's help
  10. Hello everyone, I had not even realised that people were reclaiming charges and fees from the like of Wonga and quick quid. Back in at the end of 2011 and beginning of 2012 I had lost my job (just as well since they owed me thousands in wages) and been out of work for several months. With the new job I had i was earning £300 a week and was being chased by debt collectors and the courts for outstanding debts (thankfully sorted thanks to CAGGERS amazing help !) I took out several loans between 2012 and 2013 they are listed below. Does anyone have a template or any comments/input/advice at all please. I'm not even after the money so much as getting the loans taken off of my credit rating... Thank you again in advance Smudge xx Wonga Quick Quid 19th July 200 20th August 210 28th August 210 17th Sept 200 21st Sept 150 24th Sept 50 19th Oct 193 1st Nov 250 8th Nov 100 16th Nov 608 21st Nov 350 30th Nov 340 6th Deceber 150 11th Dec 240 19th Dec 600 8th January 150 31st January 250 8th Feb 150 14th Feb 150 26th Feb 700 11th March 200 25th March 255 5th April 159 19th April 500 23rd May 250 14th June 300 20th June 600 1st July 2013 1099
  11. thats the thing because i had not received a single letter i was completely unaware! nor did i receive notification of a liability order...?
  12. My other half and I transfer money into our joint account each month. There was not enough money in the account to cover the bills, it was a genuine oversight, on our part. Again I'm guilty of not looking at my statement. the payments come out on the 1st of each month
  13. Hi there I am hoping someone can help. I got in from work on Tuesday evening, after going to the gym and found a letter on my door matt from a bailiff company threatening to seize my goods for non payment of council tax. It was an enforcement notice and referred to a liability order. This was the first I knew that my direct debit payments to the council had not gone through (i've checked now and they were returned). I did not receive any letters or liability orders in the post either. Surely I should receive some kind of notification before the council involve bailiffs!? For the two months missed payments it amounts to about £350.00. The bailiff company have added on a further £300 in fees/ attendance charges. Is there anything i can do, these charges seem punitive and i'm more than happy to pay the council tax arrears but not these excessive fees.
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