Ok thanks. Are you able to advise on the specific point I raised regarding the debt with Prac / BWL? Thanks

Lenders have criteria based on credit history, e.g. if X defaults in last 2 years, Y rate will be provided. If I have arrears on my account which have not been settled, it puts me in one of the higher cost brackets. I've seen the lending criteria documents myself from several lenders.

Thanks for merging the threads. I didn't get round to submitting the IRL complaint for some reason unfortunately. I called BWL to clear the debt because I need it marked as 'satisfied' or ideally removed in full from my credit file, otherwise the additional cost of mortgage will be significantly higher than the £350 owed. Have you any idea why the account may have been closed / is it likely anything to do with ICL going in to MVL? Thanks

Hello, I took out a payday loan for £350 back in 2016 with Payday UK and was unable to pay it back. The debt has been with Prac Financial / BW Legal since then, but curiously showing on my credit file as '5 months in arrears' ever since (last 4 years). Today I called up BW Legal to clear the debt in full, but was told the account had been closed this month (I think he said on the 16th). He couldn't give any reason why the account had been closed. Does anyone know why the account might have been closed, and should I assume it is also close with Prac Financial (the original purchaser of the debt)? It appears to have coincided with ICL (the Payday UK group) going in to MVL (members' voluntary liquidation) on 30 March 2020 - but this may be a coincidence? I've tried calling Prac Financial but have been unable to get through. Thanks to anyone who can help.

Thanks very much guys. I'll get the LETTERS sent out ASAP

Hello I'm about to start multiple claims for PDLs due to irresponsible lending. My first step is to gather all data on loans taken out, amounts, interest, repayments, etc. which I will do by raising a Access Request with each creditor (or administrator). Is this the correct first step? I've had loans with each of the 'brands' listed below, and have attempted to gather contact details where possible... Brand Owned by (today) Contact Contact (alternative) Payday UK Instant Cash Loans (ICL) [email protected] Payday Express Instant Cash Loans (ICL) [email protected] Sunny Elevate Credit [email protected] [email protected] QuickQuid Casheuronet LLC [email protected] [email protected] Wonga Wonga (administrators) [email protected] Mr Lender PDL FINANCE LIMITED [email protected] [email protected] PiggyBank DJS (UK) Limited [email protected] [email protected] WageDayAdvance Ltd SRC Transatlantic Limited [email protected] [email protected] Peachy Cash On Go Limited [email protected] [email protected] Lending Stream UK Lending Stream LLC [email protected] FLM Financial Processing UK Ltd [email protected] Cash Genie Ariste Holding Limited [email protected] Pounds to Pocket CashEuroNetUK, LLC [email protected] [email protected] Satsuma Loans Provident Financial Services [email protected] [email protected] Micro Lend UK WPPL Ltd ? Cash Bob LTD ? ? Microcredit Ltd ? ? Txtloan ? ? Can anyone please advise regarding... (A) The companies with missing info - does anyone know where I can find these? (B) Do any of these companies have the wrong contact details? (C) Are any of these companies completely out of business and all funds exhausted, i.e. not worth contacting? Many thanks

Thanks for the response DX. I actually tried that as well on my call to BW Legal. They said they could / would not amend my credit report retrospectively, even if they receive full payment. They would only update to show as settled as of the month it was paid.

I have 5 defaults from 1 - 2 years ago, so I'm having to go the adverse route. A condition of this is no arrears within the last 6 months, which I assumed to sound fair enough?

Hello New member here. Just spent a good few hours reading through the many PDL reclaim posts (and the PDF guide) - thanks so much for the incredibly valuable information. I met a mortgage adviser last week as I planned to buy my first home in September 2019. I've spent the last 12 months cleaning up my credit file, cleared all outstanding debts, and have no late / missed payments or defaults within the last 12 months. However, the mortgage adviser found a debt in arrears on Equifax (I only checked Experian myself). The debt is from an outstanding PDL from Feb 2015 with PaydayUK (around 350 quid), passed to Prac Financial / BW Legal in June 2015. From memory, I had only received a few standard letters and emails saying I owed the debt from BWL, not threats of court action or daily phone calls. I foolishly assumed it might go away, and as it wasn't on my credit file (or so I thought), it wouldn't be an issue. Strangely (or perhaps not?), the debt has been recorded rather oddly on Equifax (under Prac Financial)... First 9 months - status 2 (2 months in arrears) Next 1 month - status 3 (3 months in arrears) Next 1 month - status 4 (4 months in arrears) Next 37 months (up to Jun 2019) - status 5 (5 months in arrears) This may just be due to lazy admin on the part of Prac / BWL and has no benefit to my case - I just wanted to mention in case it can help in any way. The original debt with PaydayUK is also recorded similarly to the above, but ends in Jan 2015 with a status of 'DA' which I believe means sold to a debt collector. My primary concern is not reclaiming money. It is the fact I now have an account on my credit file which is showing as 5 months in arrears, even though it's 4.5 years old, right before I'm about to apply for a mortgage. The PaydayUK account on my credit file isn't an issue, as it's over 3 years old. The Prac account is the issue, and I need to attempt to remove this from my credit file ASAP, if possible at all. I planned to buy one of the last remaining new build properties on a local development, and as such I ideally need this removing within the next month or 2 - max. Highly ambitious I know! I have a strong case for the loan being unaffordable, in that I had a string of PDLs (8 with Payday UK - 10 or so others with other lenders) over the course of 3 years, ending with the final loan mentioned above. I was also unemployed at the time and had previously missed payments on other PDLs (from other lenders). However, I understand PaydayUK are part of The Money Shop - who have some sort of legal case going through which has paused all reclaims until the end of September? Add the 8 weeks on top of that to resolve the case, and another 4 weeks to update credit files, and I'll be looking at Christmas time before I can apply for a mortgage (assuming my case is upheld) and will no doubt miss out on the new build property. Before I proceed down the unaffordable loan claim route, I wanted to check whether there was any other approach anyone could recommend? I'm fairly confident they have all paperwork, as the BWL agent confirmed loan details, amounts, dates, etc. when I called this week to confirm the debt was with them (I just asked for information and said I'd call back at a later date). However, if I'm correct to assume they have 12 days to reply to an request of information, it's probably worth doing anyway. Greatly appreciate anyone who has taken to the time to read and / or respond. Thanks