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Payday Express, Cash til Payday

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Hello All,

 

Happy New Year Everyone.

 

I will try and make this very brief, the long and the short of it is that I had about 3 payday loans on the go at the same time and kept rolling them over for a period of about 2 years. They were quiet high sums, £700-£1,000.

 

As you can imagine, my credit history has always been really bad and I was/am just about surviving.

 

I sent a request to Payday UK for compensation and they have come back with "they can't provide me with a final response although they continue investigating my compliant."

 

They have said refer it to the Ombudsman, which I will. I think they have looked at my claim and thought if it goes the FOS route that might get away from irresponsible lending.

 

I have all the monthly agreements on my email but is there something I should be wary/aware of before I go to the FOS?

 

Thank you.

Jigs

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Why do you think it might veer away from irresponsible lending ?

 

Have you checked your credit reference files - did they do credit checks on you before and during the loan period ?

 

Have a read round other threads where you will find similar issues and I will ask fkofillee to look in on you.. so hold fire until you have other contributors to your thread.


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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.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Why do you think it might veer away from irresponsible lending ?

 

Have you checked your credit reference files - did they do credit checks on you before and during the loan period ?

 

Have a read round other threads where you will find similar issues and I will ask fkofillee to look in on you.. so hold fire until you have other contributors to your thread.

 

 

Hello CitizenB,

 

I thought that might want me to go down that route as they have nothing to lose. Maybe end up paying me less by a decision from the FOS for the amount of months i actually rolled the loans over.

 

I have looked at my bank statements that show me "rolling over" these loans on a monthly basis. Quik Quid, Wonga, Payday UK and Cash Til Payday.

 

Looking at the amounts now, I was literally paying one and borrowing from the other to do it.

 

I have not checked my credit files yet.

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You will need to gather all the evidence so that you can present your claim to the Financial Ombudsman.

 

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?455382-Were-you-caught-in-a-Pay-Day-Loan-Trap-You-may-be-able-to-make-a-claim

 

^^^ The above guide is worth a read.

 

And the link below is a thread where someone else had continually rolled over loans in order to keep on top of the payments there might be something there that would be able to help you move forward.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?457677-Im-looking-for-some-advice-Piggybank-Sunny-Wonga(1-Viewing)-nbsp

 

I have asked others to look in on you - so do wait until they have before you make any move to escalate your complaint.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

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.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Right soooooo....

 

First of all, Id like to see if we could check your CRA files, checked the closed accounts and I guarantee you you will see TONS of closed loan accounts. So....

 

 

Next, Just having the ingo from your CRAs is not enough. If they have defaulted you for whatever reason then you need to know. So you will need to contact each organisation via email and ask them for a full summary of all loans etc,

Should they refuse then, you SAR them at £10 a pop. 40 days later you get all the paperwork etc.

 

So You have already complained to one lender, PDUK. They are part of Instant cash loans ltd,. who own Money Shop etc etc. They have told you to send it to the Ombudsman, yet Right now I dont think you should. I think you should let it roll on for another 4 weeks. Should they fail to respond then send it to the ombudsman.

See what their response is.

 

Have you complained to the others yet? If so where are you at with those.

Also look at your bank statements, see how often these loans were paid into etc, the key here is linking the loan events... **Seen youve checked** - How often were loans being paid in, and how often were these being paid out.

Could you tell me which were actual loans and which were rollovers?

 

Had 1, used another to pay off the first 1, then reloaned to pay off the other etc etc etc.

Next question... What period are these loans from?

  • Haha 1

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Right soooooo....

 

First of all, Id like to see if we could check your CRA files, checked the closed accounts and I guarantee you you will see TONS of closed loan accounts. So....

 

 

 

Next, Just having the ingo from your CRAs is not enough. If they have defaulted you for whatever reason then you need to know. So you will need to contact each organisation via email and ask them for a full summary of all loans etc,

Should they refuse then, you SAR them at £10 a pop. 40 days later you get all the paperwork etc.

 

So You have already complained to one lender, PDUK. They are part of Instant cash loans ltd,. who own Money Shop etc etc. They have told you to send it to the Ombudsman, yet Right now I dont think you should. I think you should let it roll on for another 4 weeks. Should they fail to respond then send it to the ombudsman.

See what their response is.

 

Have you complained to the others yet? If so where are you at with those.

Also look at your bank statements, see how often these loans were paid into etc, the key here is linking the loan events... **Seen youve checked** - How often were loans being paid in, and how often were these being paid out.

Could you tell me which were actual loans and which were rollovers?

 

Had 1, used another to pay off the first 1, then reloaned to pay off the other etc etc etc.

Next question... What period are these loans from?

 

Hello fkofille,

 

Sorry for the late reply and Thank you for advising me.

 

I will try and answer each question you have raised.

 

I have not complained to any of the Payday lenders yet. They were Wonga, PoundstoPocket,QuikQuid, WageDayExpress,PaydayUK and the Money Shop (with the Money Shop, it was cheques that I had "cashed" but I was "extending" these on a monthly basis.)

 

The loans were being credited on a monthly basis over a period of a year and a half to two years. My salary would go in, "pay" one lender, I would borrow a day later from them again, pay another lender, borrow from them a day later and so on. Most of the loans were "rolled over"

 

I will get the information you have advised. Should I paste it onto this thread?

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Hi Jigsaw

 

You said you have already made a complaint though? Yes, If you could get a summary of all the loans, I can then advise.

 

Also email the respective customer service teams of the organisations and they can give you all the info.

This will be a long process though... Please be patient.

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Hi Jigsaw

 

You said you have already made a complaint though? Yes, If you could get a summary of all the loans, I can then advise.

 

Also email the respective customer service teams of the organisations and they can give you all the info.

This will be a long process though... Please be patient.

 

 

Hello fkofilee,

 

Sorry for the delay in replying.

 

I have just looked at Noodle and the credit searches only go as far back as 2014. The Payday Loans I had, I made arrangements with the lenders at the beginning of 2014 to discharge my liabilities.

 

Should I send them SAR's then to get the information?

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