Payday Loan Assistance

[fkofilee]

On what basis?

[messedaround]

Your complaint

 

1. You feel Wonga did not carry out sufficient affordability checks on your loan applications.

2. You are unhappy because Wonga failed to remove the loan from your credit file despite it being written off in 2010.

3. You are unhappy with the offer made to you in relation to the historical debt collection practices

 

Our response to your complaint

 

Here is a summary of our findings:

 

In investigating your case, we have considered the affordability of your loans based on information available to us at the time of application. That includes your personal circumstances, the value of the loans against your stated income, the frequency of your borrowing and any other factors which indicated financial difficulties as a result of the loan, such as arrears and repayment arrangements.

 

Before approving a loan, we carry out a credit reference agency check. This information is available to us from CallCredit and Experian and can be accessed instantly by us when we received a loan application. When you applied, we combined that data with the personal data you provided to us including salary, employment, marital status, dependents, home ownership status, motor owner status amongst other information, and we also considered your repayment history. All of this information was entered into our underwriting system which uses an advanced algorithm to underwrite the loan as well as carry out an assessment of affordability. You achieved an acceptable underwriting score and the loans were approved on that basis.

When you did fall into financial difficulty we assisted you by freezing interest and setting you up on an affordable repayment plan.

In view of the above, I am unable to uphold the unaffordability aspect of your complaint.

 

I note in your email, you stated that we had written off your loan in March 2010 but we had failed to remove it from your credit file and this had had an adverse effect on your credit file. If you are able to provide a copy of your credit file which shows the loan was not satisfied on 26 March 2010, we may be able to review this. At this stage, I am unable to uphold this element as there is no evidence to suggest the loan remained on your credit file.

 

I can confirm in your email you stated that you were not unhappy with the historical debt collection offer that was made to you on December 22 2014. I also note you sent an email to us on 29 July 2015 stating that you had sent the redress form back to us but you never received a response from us.

 

After reviewing the account, I have been unable to locate the redress form and as such before we can review the historical debt collection practices we would require a copy of the form before we can carry out an individual assessment. I can confirm that as of 1 October 2015, a copy of the form has been sent to the address you recently updated with us.

 

 

 

 

 

 

Outcome

 

Based on the above, we have decided not to uphold your complaint.

 

We hope you understand the reasons for our decision and we can confirm that this is our final response. However if you are not satisfied with it, you have the right to refer your complaint to the Financial Ombudsman Service, free of charge but you must do so within six months of the date of this letter.

 

If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances.

For information on the Financial Ombudsman Service, please see the consumer information leaflet found at:

 

http://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm

 

If you want a paper copy of the Financial Ombudsman Service consumer leaflet, please call us on 0800 023 4 567.

 

You may wish to contact the Financial Ombudsman Service by post. The address is:

 

The Financial Ombudsman Service

Exchange Tower

London

E14 9SR

Telephone: 0800 023 4 567

 

Best wishes

[citizenB]

If you can prove that their credit checks did not accurately reflect the situation at the time, then I would be pointing that out to them.

 

In any event, if you are going to escalate to the Ombudsman you MUST do it within 6 months of their final response letter above.

[messedaround]

Yeah, see now I am not sure what to do, because they want proof of their delay to remove it from my credit file, I no longer have that but they should have..

 

Also, I now have to resend that damn redress form which takes months for them to respond to, so shall I complain to the fos in the meantime? Or?

[citizenB]

Well you have 6 months from the date of the final response.. so I see no reason why you cant complete the redress form and get that sent off. You should be able to see from historical credit reports of any delays ?

 

Alternatively, send a SAR they should have the details recorded on their Diary of events / Communication log as to what actions they took and when.

[messedaround]

Thanks - this time I will send it special delivery so I can prove it was sent. How do I check for old credit entries? It is gone :/

[citizenB]

I thought they kept their records for 6 years ?.. credit reference agencies that is.

[messedaround]

I am wondering if maybe just Noddle do not have it... I probably need to pay experian again I guess.

[acid53]

messedaround, what was your lending experience/pattern with Wonga? If it was similar to what you said about your peachy account then I am sure it will be upheld. My adjudicator has just came back on my Peachy account and recommended half of my loans are refunded which I am happy enough about

[azzadle]

I was in the same situation, had a DRO and then a load of PDLs fairly shortly after as this was the only credit I could get, I've used that to my advantage when making complaints and most have caved in admitting they shouldn't have lent to me while this was active. Really push that upon them.

[messedaround]

I won't give up. Wonga are a little different in that they pushed me into my DRO with a number of other debts, but I cannot believe how difficult they have been to deal with. Hard to contact, utterly useless and when they respond they just reject everything. Added to that the fact they keep losing my redress form..

[messedaround]

Still awaiting my quickquid payment..

 

They told me 7-10 days initially.. We are at day 9, nothing received. Starting to annoy me a bit seeing as they do 10 minute payments to customers.

 

I queried the long wait, they told me its a BACS transfer is why... But these take 3 days..

 

Also they have set up a new direct debit on my bank account...

[acid53]

messedaround, wonga are a nightmare. initially i thought they were messing about but given the amount of complaints on the FOS website with virtally one upheld, then i believe they are probably snowed under. i am doubtful that company can survive given some of the payments they are having to make

 

quickquid were also slow and also set up a direct debit on my account which alsmost gave me a heart attack but it seems to be the same process they go through when paying refunds as they do when making loans. from memory, i got my refund after about 3 weeks

[messedaround]

I hope wonga last long enough to pay me

 

Quickquid are winding me up.

 

How much did qq refund you?

[messedaround]

Quick update

 

The ombudsman have recommended that peachy refund all my interest and charges from the second loan onwards, which I have accepted.

[messedaround]

Bit more help needed if possible.

 

First off, the CEO of provident just ignored me.. what do I do?

 

Secondly, what is:

 

Pco Holdco Sarl C/O Watch Portfolio Management? I have this on my CF and should not as it predates my DRO

[fkofilee]

Be persistent... Provident Need a few warnings to get them into gear... Send another few emails

 

Okay that's a DCA... But do you know who it's for?

[messedaround]

No clue who they are or what it is for.. It is so old..

[fkofilee]

Default date?

[messedaround]

Account start date 05/06/2007

Opening balance £ 507

Repayment frequency Periodically

Date of default 17/03/2010

Default balance £ 507

 

This means whatever it was it would have been in my DRO