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  1. Can somebody please advise me? MBNA have told me that I have had PPI on my credit card since 1998 and I assume it is still going as I have not been told it was cancelled at any time. I have received a letter today saying that they have upheld my complaint and are offering me a redress of £51 PPI and £405 total with interest. This credit card has been running at a 30%+ interest rate and from around 2006 to 2014 the total debt has run at least 5000 per month. Does a figure of £51 total PPI paid over 20 years at these figures seem realistic or should I go to the Ombudsman? As MBNA have said they will not enter into any correspondence I feel I have no choice
  2. Hi, I had an account with Natwest, which was shut down about 6 years ago. At the time, I had my Overdraft of £1800 (all owed), a loan for £1000 (£897 remaining), and one for £5000 (£3976 remaining). Due to my financial issues due to illness, I'd had to live off what little credit I had, and after a few months of being unable to keep above the maximum 1800 Overdraft (frequently going to £2000 when bills hit) my account was closed Following this, I was taken to court and something (I forget the technical term now, sorry) was put on my house so that when sold, my outstanding debt to Natwest would be paid out of any monies I received. We have since sold the house to a housing agency (again, lost it due to ill health and financial issues) and NAtwest received nothing because the mortgage was not fully paid off. Following this, Natwest sent debt collectors. MY wife was had by Shoosmiths (for similar level of debt) I think mine were Cabot financial (They currently take £2 a month from me, but I'm sure they said it was passed on however I've received no new paperwork) the debt is now with a debt collector. This morning I got a letter from RBS, regarding my Natwest loan, to tell me that I'm due over £800 in refunds Which will be paid into my account if it is still active, otherwise I will receive a cheque. MY account was closed, I do still get statements every 6 months about what is still outstanding. Will my refund get paid to these account, despite being closed, or will I get it? As if I receive it, I'm quite happy with my current £2/month arrangement and don't wish to just send them nearly a grand, when I've got other bills that are slightly behind now (council tax, water, TV, gas) that I would like to clear off, and I could do that with the payout, and still have a little bit over to help at christmas. As I paid these bills at a time when I owed them nothing, and I was not given a real option of not paying (I was flat out told I had to have it or I'd be refused). To me, they took money they should not have had. it should definitely all be paid back to me, for me to do with as I please. I realise they won't see it that way though, but just wondered if anyone else in a similar situation has had this happen, and received the cheque? As they only send me updates every 6 months, I wont find out now until March, as I got my update 3 weeks ago. :\ So I'm hoping someone here can help me a little sooner.
  3. Oh dont forget the £1.9 Million fine they've just been handed... Watch This Space As You Could Be Due A Refund Soon!!
  4. I ordered a wooden bed frame and was promised it would be delivered today so got my old one taken away before this one was due to arrive. Only two of the 3 boxes arrived with the courier and there is therefore no way to build the bed until the last part gets here. I live in a bungalow and have osteoarthritis so am not able to sleep on a mattress only, nor is my sofa a suitable alternative. I am therefore having to stay in a budget hotel for the weekend as I have no friends or family in the area. The couriers say they have never had the item and the company (Getlaidbeds) say it is not their fault so all they will do is refund the delivery charge. As my having no bed is a consequence of the situation and Getlaidbeds are, I believe, responsible for the actions of the courier, surely I am entitled to some compensation for the costs of a reasonable place to sleep?
  5. Rent-to-own retailer BrightHouse has been told to pay £14.8m to 249,000 customers by the financial regulator, the Financial Conduct Authority (FCA). BrightHouse will compensate customers who had cancelled agreements after one downpayment but had not been refunded. It will also make payments to those who signed up to lending agreements that "may not have been affordable". The FCA said BrightHouse had not acted as a "responsible lender". http://www.bbc.co.uk/news/business-41732865
  6. Hi there, I have recently had a PPI COMPLAINT upheld with RBS I recieved my final outcome letter today but I am still left feeling slightly confused and wonder if I am owed a bit more. i don't have all the information on the personal loan like interest rate but feel that it doesnt quit add up I took out a loan on May 2nd 2007 - £1000 I then apparently took out another loan on 27th May 2007 - £ 1500 to cover the first loan (i can't remember why this was done) This being a chain loan I was always under the impression that I only took out a loan of £1000 at this time so this confuses me I paid my final payment for the loan on March 27th 2012 I was paying payments of £37.78 over 5 years / 60 months so this totals to £2229.02 that I paid for the whole loan of £1000 the rest being a combination of interest and PPI ( £1229.02) The banks offer is for the first Loan PPI REFUND £8.19 STATUTORY INTEREST £6.68 20% TAX £1.34 NET offer £13.53 The banks offer for second loan PPI REFUND £59.44 STATUTORY INTEREST £36.41 20% TAX £7.28 NET offer £88.57 now i'm really sorry if i have got it all wrong but I just feel a bit confused with this out come. This would make the total PPI PAID £67.63 Over 5 years and the itnerest being £1161.39? in the letter they do not break down my interest and ppi so that its clear. if anyone can make sense of this I would be grateful ! Kind regards
  7. At last, CFO Lending (Capital Finance One) have had their comeuppance This is fantastic news and I am so happy that possibly the worst of all the lenders have been put to rights FCA Article here: https://www.fca.org.uk/news/press-releases/payday-firm-cfo-lending-pay-34-million-redress
  8. About a year ago we had some building work done which has now turned out to be sub-standard. I have tried to get hold of the guy, but his home phone and email no longer work, and I suspect his mobile number has changed also. All I have is a name, a bank account/sort code, and a post code. With the beauty of hindsight I should have never used a tradesman who didn't put his full address on his paperwork. I have done a WHOIS lookup on his website, and I have a registered address from that, which is different (but close) to the "contact us" details on the website. I`ve not been able to find anything on the companies house website - presumably the registered company is operating under a different name? How do suggest I proceed in tracking down this builder?
  9. Received the email below today - does this seem legit ?
  10. I applied for a Cash Genie loan on 23/12/13. The application was accepted. The loan amount was £200, duration of credit agreement 8 days, loan ID xxxxxx8493, to be repaid in 2 simultaneous instalments of £60 (interest), and £200 on 31/12/13, total amount repayable £260. I ensured there were sufficient funds to repay the loan in full on the due date. I was therefore surprised to receive an email from Cash Genie on 27/4/14 reminding me of my "upcoming payment" for my loan ID xxxxxx4039. I checked my bank statements and discovered that payments had been taken from my debit card as follows: 30/12/13 £60 03/02/14 £60 03/03/14 £60 02/04/14 £60 Total £240 The total amount repayable under the loan agreement was £260. Cash Genie had rolled the loan over on 4 successive occasions entirely of their own volition and contrary to the terms and conditions of their own loan agreement. As the balance of the original loan agreement was £20, I repaid this on 01/05/14 and considered the subject closed. I then received an email from Cash Genie 01/08/14 containing a default sum notice for yet another loan ID xxxxxx7101 (I can only assume Cash Genie generated a new loan "agreement" every time they rolled over the loan). "The following default sums have been incurred and are now payable under the agreement referred to above: Amount Description Date £0.00 Sent Letters 01/08/2014 This Notice does not take account of default sums which we have already told you about in another default sum notice, whether or not those sums remain unpaid. The total amount of all default sums included in this Notice: £0.00." On 31/08/14 I received a second default notice via email with the exactly the same wording but the following default sums: "Amount Description Date £0.00 Sent Letters 01/08/2014 £0.00 Sent Letters 31/08/2014" This is the only correspondence I have received regarding a default notice. I am unaware therefore of any other alleged default sums. I immediately responded to these notices by paying the default sums (i.e.£0.00!). My credit record shows the following information: "Account start date: 30/05/2014 Opening balance: £260 Regular payment: £ 140 Repayment frequency: Monthly Date of default: 30/06/2014 Default balance: £260" Every line of data is complete nonsense! Furthermore, the status markers show the account being 1 month late in July 2014 (2 months after I paid it off) and in default in October 2014 (not 30/6/14 as shown above). My questions are: 1) I believe I am entitled to redress - what do I claim, and how do I calculate/ claim it? 2) Most importantly, I need this ridiculous default removed from my credit record. How? Thanks in advance!
  11. Hi all, Needing some help here. So as with many people I received redress from CFO. *This is not admittance of liability for this loan, just queries of correspondence* Original loan: £550 Original date: 06/03/2013 Before redress: 1050 Redress: 350 Outstanding: 708 Not long after being notified of this redress I started to receive collections emails, I recently received a intent to default notice, and then today I have received a default notice by EMAIL. As with many of the loans I am supposedly liable for this one is many years old and would be SB in less than 3 years. Can they apply a default so long after, considering payment or communication on the account has not been made for 3 years? Is Email a valid method to communicate a default? Some help would be greatly appreciated. My credit file should be clean by 2018, and so have been holding out for that, but this could ruin it all
  12. After nearly 2 years with the FOS - Barclaycard have now finally suggested the following redress:- Total PPI payments = £534.00 Associated Fees = £808.00 Associated Interest = £1038.00 Statutory interest = £1351.76 My redress covers the following periods :- Nov 1989 - Dec 1998 ( No statements - so account is reconstructed) Jan 1999 - March 2007 ( Full statements provided - PPI cancelled March 2007) I can upload the Barclaycard calculation schedule however in the meantime i cannot understand why the associated interest is lower than the 8 % statutory interest. Is this another Barclays PPI underpayment ? Would appreciate initial observations.
  13. You are due redress because CFO Lending did not treat you fairly in the past. Your redress will be in the form of a reduction to the balance you owe CFO. Your account balance has been adjusted to reflect this redress amount. Please read this letter carefully. It contains further information about why this redress is due and how this affects you. In most cases, you do not need to do anything. Dear blah blah Why are we writing to you? We are writing to you because you either currently hold an account with either CFO Lending or one of its trading names [Capital Finance One] and you have been assessed as not having been treated fairly in accordance with regulatory standards. You are due redress as a result. CFO Lending agreed with its regulator, the Financial Conduct Authority (FCA), to conduct a review and customer redress scheme overseen by an independent third party, Grant Thornton UK LLP, whose appointment was agreed by the regulator. How will my redress be paid? Your account balance has been reduced by £225. Your account balance is now £0 What do you need to do now? To help you with any queries you might have about the background to this review and the redress scheme agreed with our regulator, please contact us on 0208 045 1382. You do not need to take any further action in order to accept this offer of redress. Detailed below are the eight specific issues that were assessed to determine whether or not our customers have been treated fairly: 1. Balance restatement 2. Misuse of banking information 3. Excessive use of continuous payment authority (CPA) 4. Mishandling of complaints 5. Misleading and threatening communications 6. Inaccurate reporting to credit reference agencies (CRA’s) 7. Interest rates on rollovers 8. Annual statements not produced after 13 months We accept that we did not always meet the appropriate regulatory standards and we have agreed with our regulator to provide redress to affected customers. If you have any further questions or concerns then you can contact the dedicated Customer Service team who will be able to help you. You can contact us using the following details: Telephone: 0208 045 1382 Email: [email protected] Write to us: Redress department, 2nd Floor, Kirkdale House, Leytonstone, London E11 1HP What does this mean for me? You have been assessed as not having been treated fairly in relation to: 1. Balance restatement - The total redress your account will be reduced by under the agreed scheme is £225. Our approach to calculating redress and its application has been independently verified. Yours sincerely, CFO Lending Ltd Anybody else get this email?
  14. Hi All Just looking for a bit of advice please. I recently complained to some payday loan companies about unfair treatment and irresponsible lending. I had an email acknowledgi my complaint pretty soon after I submitted one of them. It outlined their complaints procedure and said they would send a final response within 8 weeks. A few days later I received a redress email that admitted I had been treated unfairly and that my balance as a result had been reduced to 0. Do you think this is their response to my complaint or is this just one step in their investigation into the complaint? And sorry to sound a bit dumb but what does 'balance restatement' mean? Many thanks C
  15. Hi I am trying to get my head around my situation so sorry to bombard you with information, however I have done a lot of reading and need your help! Since ~2009 I have been using Pay Day Loans, A LOT OF THEM (full list below). Since 2009 I have always had at least ~3 outstanding loans at any one time. The issue has been made worse by severe depression and severe gambling. I am finally getting help there, and am sorting out my PDLs, however at a guess must have taken out ~£20k in PDLs and paid back ~£30k to date. I believe I have a claim for redress and this is what this thread is about. I will also update this thread for my progress. Key Areas of Claim I had to repeatedly roll-over a loan. This shows that I could not afford to take out the initial loan in the first place as I couldn’t make the payments I had to borrow from another payday lender in order to pay off your initial loan The loan was a large portion of my income meaning I couldn’t pay it in time as I would not have been able to buy food, pay your mortgage or bills etc (up to 5/6th my income in a single PDL, with multiple at any one time) Failing repayments, paying lots of late charges, then being accepted when applying immediately after again Pay Day Loan Companies & Contact Details Below is a list of PDL companies I have used and their contact details. These were mutliple loans, multiple roll-overs (some as recently as 3 months ago) and all across the six year period. I have the following questions: Should I even both searching for information on loans for companies gone bust Should I be contacting companies whereby I still have a loan outstanding (Companies in bold I still have outstanding PDL) (1MonthLoan) Sunny 247 Moneybox Cash Genie Cash Lady CashChoice CFO Lending Early Pay Day Loans MiniCredit MrLender Payday Express Payday UK QuickQuid Safetynet Credit Speed-E Loans Swift Sterling Toothfairy MyJar (Txt Loan) Uncle Buck Wayday Advance Wonga       Other Credit Lines I also have had a lot of credit cards and bank overdrafts. These are now all "up-to-date" and a plan has been put in place to repay them. Company / Total Owed / Now Owe / Type of Credit Line / Comment (CCJ) Luma £ 250.00 £ 250.00 Credit Card Aqua £ 300.00 £ 300.00 Credit Card Lloyds £ 2,700.00 £ 1,890.00 Overdraft CCJ Capital One £ 950.00 £ - Credit Card CCJ Egg (Barclaycard) £ 742.00   Credit Card   Nationwide £ 710.00 £ 710.00 Overdraft   Natwest £ 1,060.00 £ 1,060.00 Overdraft   Next Steps I will now complete the following next steps 1. Obtain bank statements (I can already get 3 years Nationwide and 5 years Natwest but will request SAR from all 3 bank accounts I have held) 2. Contact all companies requesting full detail of my account (all previous loans/repayments and anything still outstanding) 3. Contact Credit Reference Agency Experian to get last 6 years so I can review loans and check whether the proper checks were made. So... with all that information, does anyone have any further advice, next steps, or things I am doing wrong?
  16. Just sent SAR off for some missing statements but I do have about 90% of them from 1998 to 2005 when the account was settled and closed. I cannot find anything on my agreement details with my signature agreeing to PPI as it was automatically added when I took out the card. My questions are, will I be able to reclaim from 1998 and what are the correct redress spreadsheets that I should be looking at in the meantime ? Is there one for all of statements and one for some missing statements ? Thanks for any assistance.
  17. HI all Just wondered where we are with offsetting ppi redress to cover a balance made up of charges and compound interest. I had a credit card with capital one which was in default and was bought by lowell, In 2013 i received a ppi reddress payment from capital one and this was paid to lowell to cover a balance made up entirely of charges and compound interest, despite challenging them since they are just giving me the runaround and being deflective in their letters. I have done the spreadsheet and can see it is over £3000 for the charges and over £5000 if ppi was included in the calculations so could do with a push on the best route to take to try and recover it thanks
  18. I currently have two complaints with the FOS, both have been upheld and we're at the arguing about redress stage. On both I have asked for bank charges, etc to be returned if they were incurred as a result of being without the PPI monies. I should add the bank charges could be a significant amount. On the first loan ppi, the adjudicator found against me, that the bank's offer of ppi repayments plus 8% interest was fair. I have appealed this decision to the ombudsman proper. They state that the all charges on the LOAN account have been returned, whereas I argue that the money to pay the PPI was originating in my current account and thus it should be IT that is restructured rather than the loan account, with the repayment of charges, etc. Similarly on the second mortgage ppi (this time the payments were directly taken from my current account). the (different)adjudicator has asked me for my expectations with regard to redress. I stated the same, that since the payments were taken directly from my current account, I expected it to be restructured with the return of any charges incurred as a result of being without the PPI monies, etc etc. to which she replied " I will let be taking the information you have sent me into consideration as I investigate your complaint. I will need to look into what you have told me about your current account. This is not something that is generally considered when refunds are calculated. You say in your email that this would be “as per [our] guidelines” but this would not be covered by our standard guidelines to businesses. We would need to see an exceptionally clear link between the sale of the PPI policy in question, and the fees and charges on the account, to say that the business should consider these costs. I will need to consider the specific circumstances of your complaint to see if that would apply here. I will let you know if I need any further information. I do not know at this time how long my investigation will take but I will keep you updated." What are people's general thoughts/experiences with the FOS with regard to charges incurred as a result of being without PPI monies? Are people generally getting them or not?
  19. I have just been advised that my PPI claim with RBS Mastercard has been upheld. I have most of my statements just a few missing and wondered if someone could kindly advise what is the correct spreadsheet to use in calculating amount of rebate ? I am just awaiting an offer from bank but wanted to have a benchmark figure in my own mind. Thanks
  20. Please can some expert kindly explain if there is a difference between 8% Statutory interest and 8% simple interest ? If so when would they be applied to any redress. My issue is that bank rejected my claim but was up-held by FOS. Card PPI started Jan 2000. PPI cancelled Sep 2004 when got into financial difficulties. Been paying agreed payment plan no interest to bank from Sep 2004 to date. PPI claim up-held Dec 2014. Thanks
  21. Are they kidding me? Any advice would be really appreciated. I had a payday loan with this lot a few years back. They never made any checks on me, and lent it totally irresponsibly . I ended up on benefits, and agreed a payment plan with them. They then on the day my benefits were paid, they took the entire amount from me, leaving me with nothing to live on for a month, including disgusting amounts of charges. I was in tears, literally begging them/my bank lloyds for help, they told me tough luck we can do what we like (Literally said this) and the bank told me we wont help. I ended up scrounging and getting into more debt over it. I have just seen that they have to repay people they did over, and I emailed them to ensure I am included. Just got this back: 'Good Afternoon, Thank you for your email. Unfortunately, you are not due redress following a review of your account. Cash Genie has been working with its regulator (the FCA), and an independent skilled person to ensure all customers who were affected by past business practices receive redress. Cash Genie is contacting all customers who were affected. The redress has been verified and you were not affected by those business practices, although we appreciate your disappointment. Kind Regards Customer Support' Is there anything I can do? These guys still give me massive anger, I wish I could meet their CEO face to face for how I was treated
  22. http://www.fca.org.uk/news/cash-genie-redress-unfair-practices
  23. Hi, I have received my calculations for redress on PPI for 2 loans and a credit card from Lloyds. It shows on there the amount deducted for tax, I am a non UK tax payer as I live in France, can I claim this back?
  24. Hi can anyone help me with an issue on the amount of redress due from a credit card PPI which FOS have found in my favour against RBS for an old Natwest Card. the amount offered seems low Thanks J
  25. Hi Looking for some advice. Dont want to give too much information to prevent them from identifying me. I made a complaint to a payday lender regarding the affordability of my loan and the default on my credit file. They have responded offering to write off the balance and consider the account settled, remove the default and offer a goodwill credit to my account. I only ever had this one loan from the company. I have still not paid back the original advance, therefore writing off the account and a goodwill gesture would mean I only paid back approx 25% of the original advance, never mind the original agreement with interest. I am a little surprised that they have offered this, and they have advised that I can take the issues to FOS if I am not happy with their offer. Now I know FOS takes a long time - but I am curious as to the gesture, I doubt FOS would do anything more? I welcome your thoughts
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