Feel that you've been treated unfairly by your Payday loan lender? COMPLAIN TO THE FOS!!/ correct 22.09.2015

[Tawnyowl]

Letter to complain about a payday loan

 

 

• 1 - Introduction
  
• 2 - Write
  
• 3 - Preview
  
• 4 - Download
  

For more information about when you should use this letter, see Payday loans - making a complaint.

 

 

 

 

If you have a problem with your payday loan you can use this letter to complain.

http://www.adviceguide.org.uk/englan...ayday_loan.htm

 

 

 

Got a complaint? here's what to do ... [

] Edited August 9, 2013 by tawnyowl

[Tawnyowl]

Payday lenders should be competing on cost of credit, not speed

 

14 August 2013

http://www.citizensadvice.org.uk/index/pressoffice/press_index/press_office-newpage-20130814.htm

[Tawnyowl]

Get those complaints in.Worth a try.Eighty one percent-upheld.

If you feel you have grounds to complain,why not.

Eighty-one per cent of complaints to FOS about payday loans in. 2011/12 were upheld .

 

 

•

failure to show forbearance to borrowers who could not repay their loans due to financial difficulty, with lenders frequently refusing to accept, or even discuss reasonable offers of

repayment

•

misusing continuous payment authority (CPA) by taking repeated part payments

often leaving consumers without sufficient funds to pay priority bills and other essential living

expenses

•

inadequacy or lack of affordability assessments

,

including lending to consumers with very low incomes and existing significant credit commitments

•

encouraging borrowers in financial difficulties to rollover or refinance their loans rather than offering forbearance

•

poor customer service standards with lenders failing to respond to complaints or other

communications

.

 

 

The OFT have now been replaced by the Financial Conduct Authority and although the information provided above is still relevant, it is now shown on the FCA website

 

https://www.handbook.fca.org.uk/handbook/CONC/5/2.html

Edited September 22, 2015 by citizenB
Updated 22.09.2015