Success story payday and irresponsible lending

[janes]

Hi

in 2009 i had personal problems and got into financial mess. I went overdrawn on bank account and took out many many payday loans. I was taking out loans to payback loans. After putting my head in he sand for many years i decided to sort finances out. I complained to each of my lenders on grounds of irresponsible lending and here are the results

 

Wonga 5 loans £1000 outstanding written off due to technical error?

Quick quick 16 loans many rollover £1000 written off plus £250 compensation did take several letters before agreement

Payday express 2 loans £1200 written off 1 letter of complaint

Lending srream 4 loans several months of complaining then went to FOS interest refunded plus £250 compensation

Merligen investments £150 written off 2 letters to complain

 

Good banks

Barclays had 2 loans and overdraft which they lump together in on loan with 0% interest. Then 2 years later after paying £100 per month offered settlement of £2400 on a amount of £12000

 

Hlaifax accumulated £600 of bank charges after I had been paying for a couple of years phoned them and they wrote the balance of £400 off

 

Bad banks

Natwest had to continue write go to FOS for ppi compensation still fighting for CPP before 2015

Trition evil phone me nightly and threatened to take away my house and told me i would lose my job they made me worthless to the point one night after a particularly nasty call i thought about suicide and only did not because i knew my 4 year old son would find my body.

 

I acknowledge that i was an irresponsible But so were the lenders. . In many cases such as quick quid i paid double the amount written off in interest.

 

If you feel that lenders have been irresponsible complain

[Guest]

well done.

 

Trition evil phone me nightly and threatened to take away my house and told me i would lose my job they made me worthless to the point one night after a particularly nasty call i thought about suicide and only did not because i knew my 4 year old son would find my body.

thats out of order of them. i hope you mentioned their behaviour to the fos.

dont let any planks get to you, they cant do hardly anything that they threaten.

[janes]

I am not currently trying to negoaite full and final settlement agreeemtns with the following

 

Cap quest £169

Lovell 2 debts total £350

Moorcroft formally MBDA £3000

Link formally barclay card £1200

PDA formaly egg £1000

RBS formally AA finance £9000

 

If any one has had any success or tips can they share

[dx100uk]

cca requests first if you've not already done so?

 

 

what a great story

well done

glad CAG inspired you so much.

 

 

dx

[dx100uk]

I wouldn't worry too much about paying them off if the debts don't show on your credit file

they cant harm you further.

 

 

if they don't play ball and the debts are enforceable, then £1PCM for life is a good threat to use on them.

[BankFodder]

Of course, if you record your calls as we constantly advise on this forum, then you would have the evidence of this disgusting threat made by this company and you would be in an excellent position to cause them some serious grief. But I suppose that you don't record your calls.

[fkofilee]

Hi Janes

 

Welcome back to CAG, would you mind detailing in full exactly what you did with just the payday loans only?

 

Everything in full would be great! This is for a pet project i have going on at present.

[janes]

Hi Janes

 

Welcome back to CAG, would you mind detailing in full exactly what you did with just the payday loans only?

 

Everything in full would be great! This is for a pet project i have going on at present.

 

 

Hi

No problems I will write up this week

Good if it help others as I got a lot of help from posts on this ste

[fkofilee]

Hi Janes

 

Any update on this... Id like to include your case in something that im putting together.

[janes]

Hi

 

Sorry been a little ill. Now sure what information you want but here goes

 

I was in DMP wih paypal had several pay day loans on replayment plans one was with wonga. Out of blue they emailed me and said due to changing system they would not be moving my loan over so was now 0

i then read lots in papers about irresponsible lending by payday companies and they may have to pay back monies to customers

 

I check on FOS database for irresponsible lending and read the cases. All the ones where compensation awarded they proved that they other loans at the time and that lender had not check credit file.

I open account with noddle and got my credit file

I then looked at all the payday loans when they were taken out and what was on credit file.

 

The first payday loan i contacted was payday express as this was one of the last loans i had taken out and my credit file by this time was very poor. I listed all the debts i had at the time and the fact i had several other payday loans at the time some with defaults and stated this should have alerted to them. I informed them this was irresponsible lending. The DCA cane back and said they no longer wanted to pursue the debt.

 

Next I emailed Quick quid I listed all debts and loans taken out with them. This took 7 emails each time they offered me a discount which i declined. I stated i would take to FOS they agreed to write off debt and give me 250 in compensation. My loan at that time was £980

 

I then contacted lending stream - they again refused but did take off interest added for non payment. after many emails they agreed to write off interest on one loan At the time i had 4 with them over 6 months. I pointed out that one loan was taken out after defaulting with them .

they refused to budge so i put in a complaint with FOS. They then agreed to write off all the interest only. I refused this at it went to adjudicator. Final decision was interest on all loans written off and £250 in compensation

 

Hope this helps

[Guest]

thanks for that info. good to know.

good move;

I check on fos database for irresponsible lending and read the cases. All the ones where compensation awarded they proved that they other loans at the time and that lender had not check credit file.

[Mr Worried]

Hi

 

Sorry been a little ill. Now sure what information you want but here goes

 

I was in DMP wih paypal had several pay day loans on replayment plans one was with wonga. Out of blue they emailed me and said due to changing system they would not be moving my loan over so was now 0

i then read lots in papers about irresponsible lending by payday companies and they may have to pay back monies to customers

 

I check on FOS database for irresponsible lending and read the cases. All the ones where compensation awarded they proved that they other loans at the time and that lender had not check credit file.

I open account with noddle and got my credit file

I then looked at all the payday loans when they were taken out and what was on credit file.

 

The first payday loan i contacted was payday express as this was one of the last loans i had taken out and my credit file by this time was very poor. I listed all the debts i had at the time and the fact i had several other payday loans at the time some with defaults and stated this should have alerted to them. I informed them this was irresponsible lending. The DCA cane back and said they no longer wanted to pursue the debt.

 

Next I emailed Quick quid I listed all debts and loans taken out with them. This took 7 emails each time they offered me a discount which i declined. I stated i would take to FOS they agreed to write off debt and give me 250 in compensation. My loan at that time was £980

 

I then contacted lending stream - they again refused but did take off interest added for non payment. after many emails they agreed to write off interest on one loan At the time i had 4 with them over 6 months. I pointed out that one loan was taken out after defaulting with them .

they refused to budge so i put in a complaint with FOS. They then agreed to write off all the interest only. I refused this at it went to adjudicator. Final decision was interest on all loans written off and £250 in compensation

 

Hope this helps

 

WOW, Well done, Very Inspiring.