PDL DEBTS - not able to pay everyone now...

[fkofilee]

Once again - Any damage done such as AP markers etc to your Credit File can be corrected by the lender - Let them scream at you - You are now in control.

[wiosna30]

ok, many thanks, but this can be stressful because I believe even if cases / dispute are open they will still try to collect payments

[fkofilee]

Now now... It may feel it but you are bringing it back under control. Trust me you will wise up to it.

In the event that you feel like you are struggling mentally etc (Debt can have a very negative impact on your health) -

 

Then you can have a look at

 

Samaritans

Telephone - 116 123

https://www.samaritans.org/

 

OR see your GP. There are also other people that can help.

 

Christians Against Poverty

 

https://capuk.org/

 

Just keep on top of it... There is a light at the end of the tunnel.

[wiosna30]

I will try - Many thanks again

[dx100uk]

they cant collect you've cancelled the CPA's..

 

 

stop fretting!

[wiosna30]

hello,

 

I received first response from Mr Lender and they're stating that everything what they did was correct,

then accusing me that I was not honest with them

 

- it’s true

– but who will tell the Lender that needs money to pay loans and for gambling:

I stated I needed the additional funds of £600.00 (I NEEDED FOR GAMBLING) towards a holiday.

 

I also stated that I did not have any financial commitments (I HAD AND THIS WAS ON MY CREDIT FILE),

I WAS not in financially difficulty (I DIDNT KNOW YET),

I was not using the loan to repay other loans and

I was not using the loan for gambling purposes

( I WAS - BUT WHO WILL TELL THIS TO THE LENDER).

 

my credit file was showing already many loans and many searches ,

when I was taking loan I didn’t know exactly how much my financial commitments are just now doing the budget.

 

"Thank you for your complaint received on the 6th October 2017.

 

We are sorry to hear of the personal issues you have experienced.

As you have made us aware of your dissatisfaction with the service you have received, we have conducted a thorough investigation in order to address the concerns you have raised.

 

Please find below a summary of your complaint and the explanation for our decision.

 

Your complaint outlined:

 Your loans with Mr Lender were unaffordable

 Mr Lender did not request proof of income which would have shown financial difficulty

 You believe Mr Lender did not carry out the correct checks

 

Investigation:

 

We have reviewed your account and can see that you have taken out just two loans with Mr Lender.

The interest applied to each of your loans was in line with the regulations at the time they were approved.

Furthermore, all interest and charges were disclosed at the point of application and available on your Consumer Credit Agreements which you signed, agreed to and these were emailed to you for your reference.

 

All fees and charges were clearly detailed in your Consumer Credit Agreement.

This would have included the circumstances of which you could incur any additional charges and at what cost.

 

We can confirm both of your loans were instalment loans, with each instalment you would have paid back part of the original amount borrowed (capital).

 

At Mr Lender we only charge interest on the outstanding capital which means that as the loan period progressed, your payments were reducing with a depreciating balance.

Stated in each of your contracts was the total amount repayable (including capital amount borrowed).

 

Your first loan was settled earlier than the contractual settlement date, meaning you paid less than the total amount repayable stated.

You settled this loan without requiring any help or support from us.

This indicated to Mr Lender your ability to pay, that you were not in any financial difficulty and gave us no cause for concern when relending to you.

 

If a customer advises us that they are struggling financially, as a responsible lender we will always offer further help and support.

This could be in the form of a repayment plan, an affordable settlement figure or signpost free and independent debt advice.

 

Also as stated in the terms and conditions of your contracts ‘if you find yourself in financial difficulties you should contact us by email on [email protected] or telephone us on 0208-532-5022 to discuss how we may be able to assist you.’

 

During your most recent loan (MLxxxxxxxx) which is currently outstanding and was taken out on the 12th September 2017, you stated you needed the additional funds of £600.00 towards a holiday.

 

You also stated that you did not have any financial commitments, you were not in financially difficulty, you were not using the loan to repay other loans and you were not using the loan for

gambling purposes.

 

This as well as the manual assessments that were conducted as part of our application process would not have indicated that you were struggling financially.

This was originally a six month instalment loan, you paid your first instalment on time and you have opted to defer your second instalment on the 31st October 2017 by paying just the interest amount of £128.00.

This will extend your instalments by a further month.

 

Before your loans were issued your applications were subject to Mr Lender’s responsible lending assessments.

These included thorough affordability checks as well as credit checks with the information provided by the credit reference agency, Call Credit.

These were conducted in line with our Responsible Lending Policy to assess your suitability.

 

The results of your credit check showed you had a credit score of 592.

This score is considered above average when compared to the scores we had seen during 2017.

You also had no accounts registered as defaulting or in delinquent status within three years prior to your application dates.

 

Your credit report also matched you to the address provided via the electoral roll and there was also no evidence of CCJs, IVAs or Bankruptcy on your credit file.

 

Our lending decisions are also based on the information a borrower provides to us, as a consumer it is your responsibility to provide the correct information to assist us to determine the affordability of your loan application.

 

We should be able to trust that the information provided by a customer is a true and accurate reflection of their situation.

 

We conducted an employment check in order to ensure that you were receiving a regular monthly income.

 

Upon application of your loans you informed our underwriting staff that you were employed by [edited by site team].

 

As part of the affordability assessment we also carried out an expenditure check and you confirmed the following upon application:

 Your net monthly income was £3,600

 Your expenditure was £2,400 which consisted of:

o Mortgage and Rent - £772

o Electricity, Gas and Water - £120

o Food and Travel - £270

o Telecommunications - £0

o Council Tax - £189

o Other Loans - £700

o Other regular outgoings - £349

 

We can confirm that based on the information provided by you during our expenditure checks, your highest contractual instalment due during your instalment loans would not exceed any more than 19% of your monthly disposable income of £1,200.

 

The checks we conducted were proportionate to the amount of capital borrowed and the results of these checks were deemed sufficient.

Based on the loan amounts borrowed, the loans issued were under 18% of your monthly income and therefore affordable as per the information provided and confirmed by you.

 

In regards to proof of income we try to keep the loan application process as paperless and hassle-free as possible, in most cases there is no need to send any documents to us via post or email.

 

However, in some cases where application information can't be verified, we may get in touch to request supporting documentation.

Please note, neither the OFT or the FCA have ever stipulated that lenders have a mandatory duty to request bank statements.

 

In regards to the FCA regulations mentioned in your complaint, we can confirm these were introduced on the 1st January 2015.

Both of your loans were taken out in 2017 and are in line with the new FCA regulations.

 

Having reviewed and investigated your complaint, we believe that all checks were carried out in line with the company’s responsible lending policy. A

ll of the assessments conducted by Mr Lender were completed in accordance with the regulatory requirements and guidance at the time of your loans set out by the Financial Conduct Authority.

 

It is for the reasons given within our investigation, that we do not believe we have acted irresponsibly and the loans issued were fair and should have been affordable based on the

information you provided at the time and the checks that were carried out.

 

However after taking into consideration the financial hardship you have first informed us of through your complaint, as a gesture of goodwill we would like to reduce your outstanding balance to the remaining capital of £418.40.

This balance can be repaid via an affordable monthly repayment plan.

 

Upon acceptance of this offer you will not pay any interest on your most recent loan.

 

We look forward to hearing from you by the 30th October 2017 in the hope to resolving your

complaint.

 

Although we have conducted a full and thorough investigation, we are happy to investigate any further points you wish to raise or if you have any supporting evidence that you wish us to consider."

 

I dont know what to answer

Edited October 10, 2017 by Mr.P
Redacted loan number

[honeybee13]

Hello there.

 

I've removed your job details from the above post to keep this anonymous for you.

 

HB

[fkofilee]

Howdi - Having a look at this - Its a good start... You now have the decision to make about Mr L

You may not get a COMPLETE write off - But its enough..

 

You can open negotiations on this one... You can tell them that the amount the are stating is still too high and I would also point out regardless of the status they should be doing more to help you.

£700 in other loans should have rung alarm bells. Also as well they should have checked your bank statements defacto. How many loans did you have with Mr L? This should be part of their criteria.

 

The door is open and Mr Ls response isnt set in stone. So go for them... Tell them what you expect... If you can get an extended amount written off then Id say take it and negotiate.

 

FYI a credit score is not a measurable acceptable method to go by!! GRRRRRRRRRRRRRR!!!

 

https://www.consumeractiongroup.co.uk/forum/attachment.php?attachmentid=69344

[wiosna30]

Just to update you guys I have another response from MY JAR where I had outstanding 958.44 to pay and they offer to write it off and refund 43.04. I am happy, one less , let’s wait for the other

[fkofilee]

Hi Wiosna - Congrats! How are you feeling right now?

The best thing you have done is listen to us and im glad you did

[wiosna30]

still 9 to go:| and after I have one more but I will leave fo the end but I am happy - Many thanks for help

[fkofilee]

But you have had a great start though !! dont forget that and you wont win them all. Sometimes you need to compromise and sometimes you need to escalate to the FOS because they are'nt always being fair ^__^

[wiosna30]

Hello,

 

I am still awaiting for responses from the other pay day loans companies, at the moment I had one more from THL Direct – it was outstanding 91.63 and they write off so anything to repay but I am having problem with iwoca.

 

I have as well loan where I am paying weekly around 120.00 and I asked to freeze it until January and I offer them one payment in November of 50.00 , one £50.00 in December 17 and from 05.01.2018 - 120.00/ week as before but they don’t want to help at all.

 

I provided all statements plus my budget and doesn’t help at all,

The loan was taken 2 years ago for my Limited Company because I am contractor working on daily rate but he says “ Please note that the loan agreement is between iwoca Ltd and ,,,,,,, therefore the business has a responsibility to meet payments in this regard or the contractual repayments initially set.

 

I have reviewed the contents of your business bank statements and based on the income the business is generating, payments to iwoca can be met in my opinion.”

 

I have only one income from which I have to pay all my Bills / mortgage etc- does not matter to which account its going - to my Business or private one – they are still the same Money– it’s like talk to the IDIOTS, they asking me now to pay £50.00 even IF I SAID THAT IN OCTOBER I can’t pay anything

 

I asked them to pay:

 

£50.00 - 20/11

£50.00 - 20/12 and after each week 120.00 BUT they back to me with payments schedule:

 

£50.00 - Today (17.10)

£50.00 - 20/11

£50.00 - 20/12 and first option was 170.00/ week and second after my email 150.00 – still a lot for me

 

Please help – how to respond,

I am not able to pay what they want.

Please see my original schedule with which I was happy to pay but what they want now – it’s too much

 

The guy who was calling me was arrogant and didn’t want to listen.

 

Looks like he want me to beg him about the stupid £50.00, unprofessional service, and they avoiding emails, just phone calls, I am filling embarrassed talking about my situation and I said that on my email that I prefer emails but didn’t work

 

PLEASE HELP

 

I have to add that my outstanding balance with them at the moments its 2,091.11 plus interest 273.56 and total 2,364.67 until 27.02.2018

 

how to respond to them???

iwoca pdf.pdf

[Bazooka Boo]

STOP talking over the damn phone!!! You need to keep EVERYTHING IN WRITING!

[wiosna30]

I know this but they don’t respond many times BY EMAIL

 

Can someone tell me please how to respond.

 

I provided everything, budget, statements but their respond it’s like they ignoring everything what I said before,

 

they requested private bank statements and now just telling me that the loan it’s for my Company name and I Should afford the requested repayments seeing Business bank account BUT I AM NOT.

 

I have to transfer each month my payment to my private account to pay bills, Mortgage etc…

 

PLEASE tell me how to respond

[dx100uk]

you write to them

then you have I in black and white when you take them to the FOS

 

till now

you've nowt to produce and they are treating you like a fool.

 

dx

[wiosna30]

Should I chase the pay day loan companies to get response / final decision regarding my claims?

 

Some of them responded that they will be back to me in 5 working days but they didn’t, should I chase them??

 

It’s important for me to have answer before Month end as I didn’t miss any payments so will be handy if they respond as they promised

[dx100uk]

then you need to chase yes

[wiosna30]

Please see below part of respond from Provident - satsuma

 

"I have today arranged for the suspension of collections activity on your account for a period of eight weeks.

This means that during this time we will not ask you to make any payments and no additional charges or interest will be applied to your balance.

This will allow our Complaints Team time to investigate your concerns and contact you.

 

Please be aware arrears letters and balance statements may still be sent to you during this time.

These are not a prompt for payment but are sent to keep you informed of the status of the account.

 

After the eight weeks have passed we will contact you to review your circumstances and offer you continued further assistance if this is required.

 

We are happy to support you by suspending collections activity on your account during this time.

As you will not be paying the agreed weekly rate these payments will show as being overdue and as we share this information with other organisations through your credit file this may affect your ability to obtain credit from us or other organisations in the future."

 

Is this correct - they putting my account on hold and won’t ask for payments until Claims team back to me with decision but will show on my Credit file as unpaid / overdue or defaulted? Is it correct??

 

And I just went to log in to my Satsuma account and I can’t see any loans, repayments or history – everything gone???? is it something normal??

[dx100uk]

yes

but probably be written off anyway?

[wiosna30]

DEFAULTS

 

When they will be shown on my credit reports?

 

 

My next payments for my pay day loans are on 31.10.2017 – I won’t pay anything because I won’t have enough Money so first missed payments.

 

Many companies didn’t respond like Wonga, Sunny etc.. and will do probably on last day after 8 weeks so defaults are after 62 days from the first day of non payment, that’s my understanding? For me 62 days from 31.10.2017 its going to be 01.01.2018. So just in case I can missed 31.10 and 30.11 and if still no response pay something before 01.01.2018

 

Am I wright?

[dx100uk]

paying 'something' and not the whole sum stated on a default notice wont stop the default being registered

if that's what you are trying to say

[wiosna30]

ok, if before 01.01.2018 I will pay one outstanding payment in full will be enough ? let’s say the first one from 31.10.2017

[dx100uk]

not really too sure what you are getting at?

[wiosna30]

Sorry – I just don’t understand defaults.

 

If I won’t pay my instalments on the 31.10.2017 and again on the 30.11.2017 my accounts on the 05.12.2017 still won’t be defaulted, because it won’t be yet 62. Days. Do I understand this correctly?

 

I am asking because all my payday loans must send final decisions before 07.12.2018