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Is the next misselling scandal about to break.payday loans


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Millions of payday loan customers could be entitled to refunds or compensation... here's how to check if you are you one of them

 

 

  • Millions of payday loan customers may be entitled to refunds and compensation amid allegations of high pressure selling and harassmen

 

Read more: http://www.thisismoney.co.uk/money/cardsloans/article-2384761/Millions-payday-loan-customers-entitled-refunds-compensation--heres-check-make-complaint.html#ixzz2b7xehba1

 

I remember Mike Dailly saying something similar in 2012.

Just found it in a corner of the CAGlink31.gif,dusted it down and here it is.

 

http://www.consumeractiongroup.co.uk...d-payday-loans

 

 

Edited by tawnyowl
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I assume, as PPI will soon be over, that a lot of the firms currently handling PPI complaints will switch and target PDL complaints.

 

I have started complaining about the PDLs I had, being prepared to take it to FOS and court, and I am curious how this will end.

24/7 Moneybox: 195.00 - Oustanding: 0.00

British Pearl/Spondoolies: 752.10 - Oustanding: 0.00

Cash on go/Peachy: 206.30 - Oustanding: 0.00

EarlyPayday: 325.00 - Oustanding: 0.00

Lending Stream: 1398.46 - Oustanding: 0.00

MicroLend: 780.00 - Oustanding: 0.00

Minicredit: 520.00 - Oustanding: 0.00

MonthEndMoney/PaydayUK: 937.50 - Oustanding: 0.00

MrLender: 715.00 - Oustanding: 0.00

Pounds2Pocket: 2328.00 - Oustanding: 0.00

QuickQuid: 1800.00 - Oustanding: 0.00

SafeLoans: 450.50 - Oustanding: 0.00

Speed-E-Loans: 516.00 - Oustanding: 0.00

SwiftSterling: 1295.00 - Oustanding: 0.00

Toothfairy Finance: 544.00 - Oustanding: 0.00

TxtLoan: 450.00 - Oustanding: 0.00

WageDayAdvance: 670.80 - Oustanding: 0.00

Wonga: 1336.86 - Oustanding: 0.00

Total: 15220.52 - Oustanding: 0.00

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Reading this has changed my mind about complaining to the FOS. Had any reasonable checks been done lenders would have seen how unmanageable the situation had become.

 

I've downloaded all transactions from my bank and will send this the complaint and see where it goes.

 

I don't excuse my part in the mess but the lender plays their part too.

 

We shall see. I hope it goes my way.

 

Wonder if that's why some lenders have gone out the market so they don't have to pay anything back

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Hi rodgerramjet,

 

Glad I am not alone in making complaints in this direction. The more the better :-)

 

Make sure (similar to successful PPI complaints) that you complain to the PDL first asking for refund and give them at least 8 weeks to resolve before taking it to FOS. Once you have final response from PDL it can go straight to FOS. Also do not forget to add 8% interest on the fees/interests/charges you paid to PDLs.

24/7 Moneybox: 195.00 - Oustanding: 0.00

British Pearl/Spondoolies: 752.10 - Oustanding: 0.00

Cash on go/Peachy: 206.30 - Oustanding: 0.00

EarlyPayday: 325.00 - Oustanding: 0.00

Lending Stream: 1398.46 - Oustanding: 0.00

MicroLend: 780.00 - Oustanding: 0.00

Minicredit: 520.00 - Oustanding: 0.00

MonthEndMoney/PaydayUK: 937.50 - Oustanding: 0.00

MrLender: 715.00 - Oustanding: 0.00

Pounds2Pocket: 2328.00 - Oustanding: 0.00

QuickQuid: 1800.00 - Oustanding: 0.00

SafeLoans: 450.50 - Oustanding: 0.00

Speed-E-Loans: 516.00 - Oustanding: 0.00

SwiftSterling: 1295.00 - Oustanding: 0.00

Toothfairy Finance: 544.00 - Oustanding: 0.00

TxtLoan: 450.00 - Oustanding: 0.00

WageDayAdvance: 670.80 - Oustanding: 0.00

Wonga: 1336.86 - Oustanding: 0.00

Total: 15220.52 - Oustanding: 0.00

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http://www.theguardian.com/money/2013/aug/05/watchdog-rule-payday-loan-disputes

 

 

The more complaints made to the Financial Ombudsman the better, apparently each lender is allowed 25 'free' complaint investigations by the foslink3.gif - Thereafter they are charged £550 per complaint

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