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Ok so after reading this forum for ages i have decided its time to do something, for about 2 years on and off myself and my partner became reliant on Payday lender. Over the last few years we have managed to pay all bar 4 back (3 of which are on my dmp the other being mobile money) What i want to do now is claim back any i can for irresponsible lending but am not too sure where to start, so far i have contacted a few and asked for a loan history off them which they are said to be emailing but any help off you all would be appreciated, so far contacted - Uncle buck (who have already sent me it) - wonga - myjar - quickquid (who apparently i have to write via snail mail) and wageday advance. What then is claimable, i know the charges are but i know on a few i deferred alot too as i was stupidly trying to ignore the problem. Thank you.

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You have to check all your loans before youc laim irresponsible lending. You cant fire off letters citing it without proof. Also, many PDL's wont admit it, and you'll have to go through FOS and FCA which can be very lengthy. If you tried court, you'd need a LOT of evidence.


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If you couldn't afford the loans at the time then you should ask for all the interest and charges you paid on the loans to be refunded. When you defer loans you pay the interest outstanding upto that point, and roll-over the principle, so all the interest you paid when deferring should be refunded. Deferring loans is evidence that you were struggling to repay the loans and they weren't affordable. If you're still able to log in to quickquid you should be able to see your loan history from your account page.

 

You also need to see your credit report so you can see what is and was being reported at the time these loans were issued, you can register with noddle for free. Quickquid and Wonga are 2 lenders that report to credit reference agencies, so if for example you had loans outstanding with these 2 and another lender gave you a loan, it would be hard for the other lender to defend against claims of irresponsible lending, especially if they didn't ask you anything about how much you could afford, which most lenders didn't up untill about a year ago. Some lenders might respond by saying they ran a credit check and used information you gave them when applying, to approve you for a loan, but depending on what your credit report says they can still be found to be lending irresponsibly, if for example your credit report was showing outstanding loans and they ran a check and still approved you for a loan, which a lot of lenders do.

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Hi

 

I have already started this process with quite a few payday lenders. I trawled through my bank statements and did a spreadsheet listing amounts received and amounts paid giving you the total interest paid. I then sent e-mails to each of their complaints department citing irresponsible lending based on my salary and financial commitments. At one point I had 10 payday loans and regularly deferred paying only the interest. Wonga paid out the full amount although I had to wait 3 months. Apparently they are innundated with complaints. I have received offers from a few others, some I accepted and others are being referred to the Ombudsman.

 

Its well worth putting the leg work in initially.

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Thanks for the input, so far my jar have also responded and i have found out i incurred 50 pound in late charges on that too, i know it will take a while but at the time due to my mental health i thought it was my only option. Unfortunatly now i see how much ive paid its a big gut wrenching.

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I did mine across about 9 lenders spanning anything from 6months to 3 years worth of consecutive borrowing and every single one have agreed upheld my complaints it wasn't so much about getting money back in some cases just having my credit file updated I was happy with but overall got about £5000 back in charges and interest so be patient it's taken 6 months but worth it and seeing my credit file cleaning up even better and not for the benefit of taking more credit but simply closing that chapter of my life!! Been 7 years I have been using multiple payday loans and nice to finally be free! If your not happy with the responses take it to the FOS but make sure you raise a formal complaint with each one and detail is key

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