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Ford

Payday loan refunds yet to be given to customers

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'Millions of pounds of payday loans refunds are still to be handed back, a lender has said. Dollar Financial UK, which owns The Money Shop, said that only 25% of the refunds agreed with the regulator in October had been paid back...'

http://www.bbc.co.uk/news/business-35561137

 

"]

Edited by citizenB
removed link for posting elsewhere

IMO

:-):rant:

 

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Millions of pounds of payday loans refunds are still to be handed back, a lender has said.

 

Dollar Financial UK, which owns The Money Shop, said that only 25% of the refunds agreed with the regulator in October had been paid back.

 

The remaining payout to people who were given loans they could not afford, which totals more than £7m, will not be completed until the end of June.

 

 

The Money Shop, part of a US-owned group, is launching a new revamped branch in Derby on Monday in the first part of a major facelift of premises across the UK.

 

Following strict new regulations on the payday industry brought in by the Financial Conduct Authority (FCA), the volume of loans across all short-term lenders has plunged.

 

The Money Shop cut the number of its branches from 600 to 250 in what chief executive Stuart Howard described as "a tough 12 to 15 months".

 

It would be interesting to know how other PDL companies are faring with the new regulations !

 

And if they have repaid all that they should have !


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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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hi citb

cheers for moving that.

the second 'across the pond..' link seems to be broken, and in any event is not related as such (can move that one back to 'end legalised...'?


IMO

:-):rant:

 

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Hi Ford, no problem - I want to link it in the newsletter so thought it best in a thread of its own.

 

I have moved (or in the process of doing so) the other link back to the other thread :) I think the reason the link might have broken is due the banned word in the url. I will do a tinyurl link for it and post it on thread :)


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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