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Multay

Want to complain for Irresponsible lending - Need advice **WON**

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as the fos complaint is in wld think wait for the fos first, see what they say/want. no doubt it (the lender) will (have to) send its info to date to the fos?


IMO

:-):rant:

 

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Hi Multay, I wish I could say I was surprised at the response you received, but QQ seem to be doing everything they can to make people making complaints go away. Hence why so many complains are upheld by the FOS. You'd think they would learn by now, but maybe some people are put off by the final response and accept it. I hope you get a much better result from the FOS investigation, and i'll be watching with intent as its very similar to my own complaint. Keep at it

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Thanks for the response. Greatly appreciated. I was looking at the FOS cases where they backed QQ and appears to only be the smaller ones, however they do keep saying the lender doesn't need to do a credit check... Surely the sheer volume of loans I had over the period I did would show irresponsible lending? The fact I had to roll over every month for five years would show that????


:)** Any opinion expressed by me is given with the best intentions - But I could be wrong so bear that in mind**:)

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Based on some of the things I've seen on other websites anyone with multiple loans with QQ seems to eventually get a result with the FOS, it just might take a while

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Just received an email from Quick Quid with the following:

 

Thank you for your inquiry and your patience while we conducted our investigation. My understanding of your complaint is that unfair charges were assessed towards credit extended to you.

 

We have looked into your concerns and have provided my findings below for your information.

 

We adhere to all applicable legal and regulatory standards that govern our industry. As a responsible lender, we utilise both an affordability analysis and a creditworthiness assessment when making loan decisions.

 

To give you a brief overview of our process, prior to approving any customer loans, we use robust systems and procedures for assessing an applicant’s creditworthiness and ability to repay. Our affordability assessment incorporates numerous unique customer specific variables. As well as using verified information obtained from the applicant, we also consider an applicant’s previous loan repayment history with us, credit-scoring information from Credit Reference Agencies, such as CallCredit and Experian, plus various other third party reports.

 

These reports provide information such as other financial commitments, delinquency records, insolvency records, County Court judgments, credit enquiries and any other credit accounts currently open. The scores from these products are input into an internal proprietary credit model. Our model combines these scores with other factors from the application, such as income and employment status, to generate a final determination of a customer’s creditworthiness. This affects whether we approve or decline the customer, and also affects the size of the loan for which they are approved.

 

A thorough review of your account has determined that we followed all our processes and conducted a creditworthiness and affordability assessment on each credit application and extension. Therefore, we do not agree with your complaint for the reasons stated.

 

However, we pride ourselves on looking after our customers by attempting to resolve any issues in a straightforward, efficient and amicable manner. Having taken all your comments on board and as a gesture of goodwill and without prejudice, we would like to make you an offer that we believe is fair and honest.

 

In full and final settlement of your complaint, we would like to offer a further payment of £750.00 for your time spent on this complaint and any distress and inconvenience caused. [This loan would also be deleted from your credit file]. Total refund £750.00.

 

To accept our offer, please reply to me at this email address with your confirmation and I will arrange for the monies to be credited to your bank account. I am hopeful that this matter will then be satisfactorily resolved.

 

 

Now its interesting they don't mention which loan would be deleted from my credit file, my last loan was one of their flexi accounts that ran from August 13 to Dec 14 and I paid over £6k interest on that and over £15k in my dealings just with Quick Quid over the years. It doesn't mention anything about Pounds to Pocket which they also raised a complaint about, even though I didn't. Now I don't mean to be greedy but I don't think £750 goes near the amount that I paid to them. Also if they did nothing wrong, £750 seems pretty generous for a complaint. This is clearly an attempt to stop me going to the FOS.

 

For note, this arrived just under 7 weeks, which was also a surprise as they typically take the full 8 weeks

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joncow, bog standard response from them - I got exactly the same. the real fun starts now with FOS, I got mine resolved via the adjudicator and did not have to wait for ombudsman but your loans are on a totally different scale and such is the amount of money they may try to drag it out but in your in the last lap now so fingers crossed

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Hi All,

 

 

Just had a call from the FOS today. Very nice man explained the process and told me QQ haven't sent anything they have asked for as yet but assured me he will get it. In the meantime he wanted a bit more info from me....

I'm impressed how quickly that got on the case and that he was very interested in hearing my side of things... Fingers crossed that I get a result.

 

 

Thanks,

Mx


:)** Any opinion expressed by me is given with the best intentions - But I could be wrong so bear that in mind**:)

Missed Call Checker - http://whocallsme.com/Phone-Calls.aspx/077/m

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Hi Multay, how long was this from you putting your complaint in to the FOS? Mine went in last Wednesday so just over a week, and I've just had an acknowledgement letter from the FOS with my reference. I haven't chased anything up though. Good to hear you have someone that sounds like they are on the ball

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Hi Multay, I tried to PM but I'm not allowed, I was going to send this- Hi, I have only just seen your message. I hope you have got on ok. Basically I complained directly to QQ and got what appeared to be a stock answer denying irresponsible lending. I was not happy with this reply so made a complaint to the Financial ombudsman as to why I thought the lending was irresponsible. I honestly described the situation, that what is meant to be short term lending became long term in rollovers.

 

Be prepared to provide your bank statements. When the FOS challenged the lending I got a positive outcome within about 3 weeks.

 

Hopefully you have now too.

 

Be patient, the FOS do an excellent job, and if they agree with you or some of what ou claim, they will tell QQ. My wife has just got a 4 figure refund too after using the FOS.

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Thanks Everyone... It's now becoming interesting. The man at the FOS has indeed asked for bank statements which I have supplied. However, QQ have not supplied him any information despite him requesting it some time ago. I can't help thinking that is a silly game to play on their part but I also would guess it all adds to my case.

 

 

@Joncow - It was about two weeks after I complained I got a call from the adjudicator, so pretty quick.

 

 

Thanks everyone...

 

 

M.


:)** Any opinion expressed by me is given with the best intentions - But I could be wrong so bear that in mind**:)

Missed Call Checker - http://whocallsme.com/Phone-Calls.aspx/077/m

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Well, I just got a letter from the adjudicator and he doesn't think QQ did anything wrong.

I'm gutted... I can't belive it.. A 5 year nightmare that has continued to trash me financially and nothing.

Just shows, you should never get your hopes up or believe that there's any kind of fairness... I can't see how my case is any different to the ones that have successfully claimed...Thanks anyway everyone...


:)** Any opinion expressed by me is given with the best intentions - But I could be wrong so bear that in mind**:)

Missed Call Checker - http://whocallsme.com/Phone-Calls.aspx/077/m

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Perhaps dispute it and ask to have it referred to the Ombudsman.

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yeah, afaik it doesnt cost anything to escalate it.

also, cld ask the adjud for a copy of the info/file that the cruds have sent to them. (they may or may not send, but in one eg they did and it showed that the cruds had sent to the ombuds a copy letter they said was sent to the debtor. but, it was a different letter to the one received by the debtor. ie it mislead the adjudicator.)


IMO

:-):rant:

 

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multay, I am stunned that this was not upheld if you had a loans over a 5 year period - could you post up the adjudicators response removing any identifying details. The FOS does throw the odd curveball but nearly every decision I have encountered where there has been continuous lending has been upheld. this is definitely worth pursuing to the Ombudsman - as ford says, it costs nothing

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Hi Acid,

 

 

I can't publish the letter as yet as they are reconsidering their decision. There is a lot of strange information at the moment. The number of loans they say I have had is nothing like the number I have actually had.

They say the fact that I never missed a payment means that QQ couldn't have known I was in financial difficulty - I said the fact that I took another loan within minutes of paying off the previous (and did so every month for 5 years) shows precisely the position I was in. Besides, a credit check at any point would have told them...

I 'll see what changes, if anything, once the adjudicator has re-considered and decide what to do then, but I am at a loss how 5 years of short term loans every month can be seen as responsible lending... I would guess it will be off to the Ombudsman but I think it's the end of the road if it's rejected at that point???? I'm not sure where else I can go?

Who knows but I'm still in shock given the judgments on other cases that are pretty much identical to mine.


:)** Any opinion expressed by me is given with the best intentions - But I could be wrong so bear that in mind**:)

Missed Call Checker - http://whocallsme.com/Phone-Calls.aspx/077/m

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multay, glad to hear that. adjudicators can throw the odd cuveball but that decision seems to go against the grain of everything i have read on the fos decisions database. i would strongly ask your adjudicator to consider the pattern of lending for a short term product which should have prompted quickquid to make further enquiries into your financial situation

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Hi acid,

 

Well I've contacted him again today to try and explain my situation a little more and why I think he should decide in my favor. I'm not sure I've done the right thing but I've sent details of some of the decisions that support my case. I took them from the FOS website and I'm hoping he sees that I'm just trying to lend weight to my case and that I'm not trying to be cleaver. It's a bit of a gamble as I might pi#s him off but I do think I have a genuine case. I guess we will see.... I just think they took massive advantage of my situation when I had no where else to turn.


:)** Any opinion expressed by me is given with the best intentions - But I could be wrong so bear that in mind**:)

Missed Call Checker - http://whocallsme.com/Phone-Calls.aspx/077/m

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i found that a tricky one to deal with in my cases, mainly for fear that the adjudicator would take offence that you are telling them to do their job - you feel like telling the adjudicator to wake up and smell the coffee or something worse! Personally what I did when an adjudicator was coming up with a weird decision was to ask them to re-consider general areas rather than point to specific cases. So I would point out to them if they considered the pattern of lending was affordable or the number of rollovers etc. But I understand ur frustration and when they go against you, you have nothing too lose anyway so would not worry too much about it. I still this will get resolved in your favour when/if it goes to the ombudsman as it is so blatant - around three rollovers seems to be the maximum accepted norm

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Hi,

 

He replied and didn't sound too happy. Was a bit short so I might have upset him by pointing to specifics but at least he knows I'm not simply going sway. It was a bit of a gamble but I think I have a case and I'm not just going drop it at the first hurdle, there has to be some consequences for these lenders so I'll keep going. Hopefully after reconsidering he will see it from my perspective...


:)** Any opinion expressed by me is given with the best intentions - But I could be wrong so bear that in mind**:)

Missed Call Checker - http://whocallsme.com/Phone-Calls.aspx/077/m

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the adjudicator? why are you still bothering with him. escalate it to an ombudsman?


IMO

:-):rant:

 

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Hi

 

I suppose I want to show I'm willing to let the process take its course. I'm not sure how often the ombudsman overturns the adjudicator but I'd like to avoid escalating if possible. If the ombudsman doesn't agree with me the only thing left is to challenge QQ in court myself but I'd have to think very carefully before I did that.


:)** Any opinion expressed by me is given with the best intentions - But I could be wrong so bear that in mind**:)

Missed Call Checker - http://whocallsme.com/Phone-Calls.aspx/077/m

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ok, can continue to try with the adj. but unless there is any new evidence, they are prob unlikely to turn as you just posted. an ombudsman will decide, in its view, whether or not the adj made the right decision or not.

yes, of course if the ombuds doesnt agree, then any further action wld need to be considered. how is that any different to an adjud not agreeing with you?

did you ask for the copy file info as i suggested?


IMO

:-):rant:

 

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I've not asked for the file as yet. I really just want to give him the opportunity to rethink things. If he sticks with the decision I'll ask for the files before escalating to the ombudsman... Thanks for the help, I do appreciate it.


:)** Any opinion expressed by me is given with the best intentions - But I could be wrong so bear that in mind**:)

Missed Call Checker - http://whocallsme.com/Phone-Calls.aspx/077/m

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ok

keep in mind to do an escalation promptly, usually within the time period the adj set out in their decision letter. though it can be escalated outside of that.


IMO

:-):rant:

 

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