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Wow....One for the record books!

 

Dollar Financial UK has agreed with the regulator to refund £15.4m to 147,000 customers, who may have suffered detriment due to the lender’s debt collection practices, affordability checks and systems errors.
HERE

 

Source - Credit Today

 

I'm mightily surprised about this! Time to get claiming folks!

Edited by honeybee13
Removing unncessary comment.

 

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One of the UK's major payday lenders will refund £15.4m to 147,000 customers - many of whom were given loans they could not afford to repay.

 

Dollar Financial UK, which owns brands including The Money Shop, Payday UK, Payday Express and Ladder Loans, agreed the compensation after a review by the Financial Conduct Authority (FCA).

 

The company apologised to those who "suffered difficulties".

 

It is the third-biggest repayment by a payday lender in recent years.

 

 

http://www.bbc.co.uk/news/business-34639178

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Knew i'd find this somewhere :p

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Compensation relates to the affordability of loans taken out in the year to April 2015, as well as the collection of repayments on loans taken out between January 2013 and the end of April 2015.

During this time - in July 2014 - the company agreed to review its lending practices and refund customers a total of £700,000.

 

Well thats poor!

 

http://www.bbc.co.uk/news/business-34639178


 

We could do with some help from you.

 

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Surely they would look at claims going further back though. The further back, the less attention lenders seemed to pay to the rules.

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Surely they would look at claims going further back though. The further back, the less attention lenders seemed to pay to the rules.

 

That may be because the FCA only took over in April 2014 and the rules got tougher

 

I wonder if it also means they will recommence chasing people who have fallen off their radar?


Any opinion I give is from personal experience .

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

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Iam a bit miffed as i had loans with both paydayuk and payday express

 

They have just fallen off my credit file so will probably get squat back

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Can anybody advise me please, I have obtained loans from the Moneyshop, Payday UK and Payday Express in the past. Should I contact the Moneyshop or wait on them to contact me regarding compensation due to due to the lender’s debt collection practices, affordability checks and systems errors.

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Can anybody advise me please, I have obtained loans from the Moneyshop, Payday UK and Payday Express in the past. Should I contact the Moneyshop or wait on them to contact me regarding compensation due to due to the lender’s debt collection practices, affordability checks and systems errors.

 

email CET@dfconline.com, sent mine off yesterday and already had reply


45k Debt - June 2016

35k Debt - May 2018

 

The battle is slow but I will win the war

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What did you say and what was their reply?

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I know 15 million pounds sounds a lot.

But not enough for me.

I will not forget how these predators targeted the people and communities of Great Britain the way they did.

 

To 147,000 customers.

A quick guess about 100-150 pounds each perhaps.2nd attempt at that,i admit to that.

So i suggest claiming back from them much further back than that.

I am nearly spitting feathers out reading this paltry amount.

How to reclaim as much as you can.

Their charges and rip off fees and the rest they put you through.

Maybe i am a bit green missing something here.If i am put me right.

 

Well how to claim back those charges and fees and a template letter to fill in at your leisure.

Go back,go for the jugular,not scratch them.As long back in history as you like.

If you have not got all the paperwork do not worry.There are ways to get that information.

Whoever the lender is go at them.Like a mosquito that is starving for food.

Get right in their faces.Get them wriggling round like ferrets in a sack.

I will calm down now,got rather roused for a moment.

I do apologise for those with a gentle nature.

But i have seen what those parasites have done over many years to the people of Great Britain.

 

A link for you.At least read it.Who knows.

http://www.consumeractiongroup.co.uk/forum/showthread.php?454437-Payday-Loan-Compensation-Can-you-claim-well-you-should-try.(8-Viewing)-nbsp

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Information for The Money Shop, Payday UK, Payday Express and Ladder Loans customers about its redress scheme

How The Money Shop, Payday UK, Payday Express and Ladder Loans customers will be informed whether they are due redress

Affected customers do not need to take any action. The Money Shop, Payday UK, Payday Express and Ladder Loans aim to start contacting all customers immediately to explain how the redress will be provided.

http://www.fca.org.uk/news/information-for-money-shop-payday-uk-payday-express-ladder-loans-customers-redress-scheme

 

A touch more info for you.

I am sure some stay awake at night worrying about Payday Loans.

Well see how the FOS can help you.

In ways i did not know myself.

 

Don’t suffer in silence if you’re losing sleep worrying about payday loans – we might be able to help

The ombudsman service was set up by law to sort out complaints. Our job is to sort out disputes between people and businesses – fairly, quickly and informally. We're completely independent and can help you deal with your payday loan worries.

http://www.financial-ombudsman.org.uk/keeps-you-awake/index.html

 

What's keeping you awake at night?

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Damn... My loans were from 2012.

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