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

[fkofilee]

Hi Wisona

 

You win some you lose some... But just remember you had a good start so dont be disheartened by this.

 

Go here to raise a complaint to the FOS

 

https://help.financial-ombudsman.org.uk/help

[wiosna30]

needs to be always second person on the end of this Form???

[wiosna30]

OK, please IGNORE my previous post, I submitted already. Thank you.

 

Do you know the waiting time for their response and decision?

[wiosna30]

Summary and updates:

 

My Jar – outstanding £967.18 , responded quickly in a few days – all write off plus refund £46.04

THL – outstanding £91.00, responded quickly – all write off

Mr Lender – outstanding £628.00, reduced to 382.40, Monthly repayment plan – 19.16/ Month

 

Satsuma – outstanding two Loans £1,392.00 + £625.62 – received offer to write off interest of 295.00 from the second loan only, which I rejected, Complains now submitted to FOS (TODAY – 31.10.2017)

 

Sunny – sent Complains on the 06.10.2017 – still awaiting for their response

Uncle Buck - sent Complains on the 06.10.2017 – still awaiting for their response

Money Boat - sent Complains on the 06.10.2017 – still awaiting for their response

Cash4you Now - sent Complains on the 06.10.2017 – still awaiting for their response

Wonga - sent Complains on the 06.10.2017 – still awaiting for their response

WageDay Advance - sent Complains on the 06.10.2017 – still awaiting for their response

Ferratum - sent Complains on the 06.10.2017 – still awaiting for their response

Safety Net Credit - sent Complains on the 06.10.2017 – still awaiting for their response

118118 Money - sent Complains on the 06.10.2017 – still awaiting for their response

 

 

Still a lot

[fkofilee]

FOS Complaints can take some time... It doesnt matter if you start missing payments etc

All the info they add to your CRA can be removed at the click of a button...

So dont worry

 

Well done with Myjar and THL...

MR Lender is a very good result... Considering they are a real pain in the backside.

 

Bit by bit you will do well They have 8 weeks to respond to you and then you can take it to the FOS unless they respond sooner and then you can take it.

Depends if you agree with what they are going to do.

 

As far as Provident / Satsuma are concerned - They are scheduled to make a very large loss this year - So i would expect them to be difficult...

[wiosna30]

Many thanks again for help

[fkofilee]

No problem

We are here to help. All i would ask is that you consider making a donation to the forum to keep this place running for others

Also finally - Please do let us know all the updates. We have threads that people dont update sometimes and it means we never know what happens

[wiosna30]

Hello,

 

I have more updates:

 

 

SafetyNet Credit - 458.00 outstanding - full write off

WageDay advance 387.00 outstanding - agreed 171.00 to pay in 6 instalments

Ferratum - 372.00 outstanding, most write off - 109.20 to pay in instalments

 

Wonga – received Today response and the THEY rejected my complains asking still to pay all amount – outstanding 657.00, sent already complains to FOS

Satsuma – Complains already with FOS but after 5 weeks still any letters

[fkofilee]

Wisona Congrats!!!

 

How you feeling now?

[AndyOrch]

Sterling work to all involved....well done wiosna...slowly but surely.

 

 

Andy

[wiosna30]

not bad, but its not easy, I don’t have any experience regarding FOS so I am interesting how will go with them

I am still waiting for few more but lets see

[fkofilee]

They are siding quite a lot of the time with the consumer. Lets see how it goes.

If you need any advice, please shout.

[wiosna30]

MORE updates, response from Uncle Buck - and they rejected my claim, see below

"

When assessing your loan application we conducted a credit check to assess your creditworthiness. As a high risk lender, even if your credit file contained certain adverse information, we would have still considered your application. In addition to a credit check, we base our decision to lend using data held within our internal risk scorecard.

 

During our assessment of whether you were able to afford the repayments, we took into account the monthly income and expenditure you supplied on your application. You indicated on your application that you had enough disposable income each month to pay the loan back. The figures you provided did not highlight that you were experiencing financial difficulty at the time.

 

Uncle Buck believes that in addition to our responsible lending policy, customers ought to employ an element of responsible borrowing. To assess any loan application, we rely in part on the information provided by customers in respect of their income and expenditure.

 

As there is no independent way to check a customer’s expenditure, we expect customers to provide us with true and accurate information in this regard. I do not find it unreasonable that we relied on figures you provided as part of our lending decision.

 

We understand our responsibility as a lender is to ensure each loan we approve is affordable and I am of the opinion that the checks performed in respect of your application were both adequate and appropriate. We only approved your loan once we had checked and were satisfied you could afford to repay it.

 

I have reviewed the credit search from the point of application, this shows you had no defaults in the previous twelve or thirty-six months. There was nothing within your credit searches which would have given us reason to decline your application.

 

I have reviewed the bank statements we requested, as part of our investigation. These show you would have had sufficient disposable income, if you were not gambling."

 

I had 9 or 11 loans at this time on my File report but they didnt see anything

 

I have to complain to FOS, MY third one

[fkofilee]

Thats okay - You wont win them all.. Youve had a good run so far. Remember that complaints direct to firms will always be biased to the firms

The FOS are impartial (We like to believe)

Go for them Wisona

 

Gambling and numerous loans... - Well lets see what the FOS think.

Need any help? Let us know.

[wiosna30]

Do you think when I am waiting for FOS responses should I arrange repaying plan to avoid defaults? Even £10.00/ Month

 

You said before that after if I win defaults will be removed anyway but what happens if I won’t win and FOS will tell me to pay – defaults will stay

[dx100uk]

I would expect you credit file is already stuffed surely?

[wiosna30]

but still not defaults

[wiosna30]

so should I go for repayment plan when waiting for FOS decision?

[wiosna30]

more updates

 

1. This some I have to say surprised me and I didn’t think that I will get something from them

Loan – NOT PAY DAY LOAN, normal instalments loan for 2 years £2.000 with 118118 Money – received response today and the balance has reduced from £3234.21 to £1537.97 – I am happy

 

2. Sunny – having from June 4 loans with them and paid in full plus currently 2 outstanding they offered only around £72.00 refund – I was hoping to refund all my paid interest from the previous ones as well, so I responded that I am not happy but if I won’t hear anything from them until Monday I will send complains to FOS

“In line with my decision, and to return you to the position you would be in had the above loan not been granted, I would like to offer the following:

 

• All interest and charges paid in respect of the above loan, totalling £70.53 (you borrowed £400 and repaid £470.53) will be offset against your remaining loan.

• Simple interest at 8%, calculated on the above figure and totalling £2.82, will also be offset against your outstanding loan.

• The record of the above loan will be removed from your credit file, we will update Equifax, Experian, and CallCredit.

 

The outstanding balance of your remaining loans is £455.67 and with the above figures accounted for, I will reduce the balance of your largest outstanding loan (33765025 - £398.47) to £325.12. I would expect this adjustment to be completed by the close of business tomorrow at the latest.”

 

3. Money Boat – received email yesterday reducing the outstanding balance from £469.24 to £172.92 – I am happy again

 

 

4. Cash4 you now – I don’t know what to do with them, received response Today – in last day from the 8 weeks- they saying that I was not honest with my creditors but who will tell how many loans you have if you need another one to play

“

As I do not agree that loans 1-3 were irresponsibly loaned I am only able to partially uphold your complaint. Cash4uNow will write off the interest of £264.60 and remove the fourth loan from your credit file. You are still required to repay the principal sum borrowed of £600”

I don’t know – send Complains to FOS or not??

 

 

 

5. Satsuma – I sent Complains to FOS 4 WEEKS AGO and I received letter from them that they working now with my complains and contacted Satsuma for more info – I have to wait 2/ 3 weeks probably more to know final decision

 

 

I have problem with WONGA who now started sending me emails/ texts, I have two monthly instalments outstanding now, they rejected my claim in full so 2 weeks ago I forward my complains to FOS, BUT Today I get NOTICE OF SUMS IN ARREARS. I sent them a few emails telling to put my account on hold, sending FOS reference number but I wasn’t lucky to get any email back

[fkofilee]

Hi Wisona

 

Havent missed this, its been a long day at work so ill respond to this tomorrow

[wiosna30]

Thank you, I will wait

[fkofilee]

1. Great Result from 118 Money... Yes they arent PDL or HCSTC but they are APR heavy with their loans...

 

2. Make it clear to Sunny, Tell them that you will be referring it to the FOS. Also tell them that as Goodwill Gesture they should reduce the balance anyway, but you do not accept their resolution.

 

3. Great response from Moneyboat once again. Puts you in a better place.

 

4. Send to FOS but ask for all info with the loans, and what credit reference agencies they used etc

 

5.Keep pushing with the FOS... Watch this space... Provident are due to have a bumper fine and difficult recovery... ...

 

6. Ignore Wonga... Remember they can control the info on your CRA that they report.

Edited December 4, 2017 by Andyorch
Edited remark on Executives

[wiosna30]

I sent complains to FOS regarding Satsuma two loans on the 31.10.2017 and still didn’t receive anything.

 

I am just wondering because yesterday I received email from Satsuma (see below) so maybe they know already something about my claim and has been rejected if I have this on my inbox:

 

“Thank you for sending us further information regarding your financial circumstances.

 

As we advised you previously, the Customer Care Team provide support and guidance on account management for our customers and those acting on their behalf. We specialise in assisting customers who may be finding it difficult to manage their account due to their personal circumstances.

 

We have made a note of the information you provided to us. We will not pass this information on to any third parties; it will only be used internally to assist us with the management of your account. If you do not want us to hold this information on our systems, please tell us and we will remove it.

 

I can see that your complaint has been closed and that a letter explaining why we have not upheld your complaint has been sent to you. This letter also explained why we have not been able to agree to write off your loans as you asked and advised you of your options if you do not agree with our decision.

 

On the basis of the information you provided to us I will apply Breathing Space to your account. Collections activity on your account will be suspended for thirty days so you can contact a provider of independent financial advice to get help with your debts. Some of the organisations who can give you this advice are included on the list below.

 

If you do engage with an organisation who offer financial advice I would be grateful if you could contact me with your reference number and a contact name and number.

 

If there is no further contact from you or from a third party on your behalf in respect of addressing your debt in the next 30 days we will refer your account to Satsuma Collections. If no further payments are made your account will be managed in line with our arrears process.

 

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. 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.

 

Please be aware that regulatory arrears letters and annual statements detailing the status of your account will still be sent to you. These are not a prompt for payment and no additional interest or charges will be added to the balance of your account.

 

I hope this information has been helpful to you. If you need any further assistance please contact me on the number below. The Customer Care Team is available between 8am and 8pm Monday to Friday and 9am to 5pm on Saturday. Alternatively, you can email us at: [email protected] or write to us at the following address:

 

Customer Care Team

No.1 Godwin Street

Bradford

West Yorkshire

BD1 2SU”

 

 

Did someone receive something similar when awaiting for FOS response?

[wiosna30]

Hello,

 

I have first decision from FOS

I am disappointed, they rejected my claim, so what should I do next?

I won’t have enough money now to repay full instalments and to avoid defaults. Any sugestions??

 

Probably my other 4 with FOS will go the same way

 

your complaint about Provident Personal Credit Limited (trading as Satsuma Loans)

I’m getting in touch to let you know that we have everything we need to look into your complaint – and I now have an answer for you.

 

From what I’ve seen, I don’t think Satsuma was wrong to lend to you.

So I’m not going to ask it to do anything

– and I’d like to explain why in a little more detail.

 

From what I’ve seen, you took out the following loans with Satsuma:

 

 loan one for £900 taken out on 13 July 2017, to be repaid over six monthly instalments of £284.40;

 loan two for £330 taken out on 8 September 2017, to be repaid over six monthly instalments of £104.28.

 

what did the business have to do

A financial business can make commercial decisions about whom to lend to and how much.

But before agreeing to lend, the business has to check each time that the borrower could afford to make the repayments.

And the checks it does must be proportionate.

 

When considering a complaint, our Service looks at whether the business did the checks,

which are proportionate to things like

– but not limited to

– the size of the loan,

the repayments,

what it knows about the consumer,

and the things the consumer told it about their circumstances.

 

If the checks the business did were enough, we won’t usually say that it shouldn’t have agreed to the loan.

 

If we don’t think the checks were enough,

and we feel that more proportionate checks would have revealed you couldn’t have afforded the loan,

we’ll ask the business to put things right.

 

please write to Financial Ombudsman Service

Exchange Tower

London

E14 9SR

dx 141280 Isle of Dogs 3

website http://www.financial-ombudsman.org.uk

2

what did it do?

 

Satsuma has told us that it asked you about your income, expenditure and attempted to carry out a credit search.

However looking at the results of the credit search Satsuma carried out, it appears the data it asked for wasn’t available.

was this enough? why?

 

I think the checks Satsuma did on both loans one and two went far enough.

You told Satsuma that your income was £3,600, and your expenditure totalled £1,544.

This would’ve left you with around £2,056 disposable income,

which meant that both loans would’ve looked to be affordable.

 

Taking all of this into consideration,

even though loans one and two overlapped,

the repayments amounts were relatively low in comparison to your disposable income.

 

There was no information you gave Satsuma that would’ve required it to carry out further checks,

so although Satsuma’s credit check didn’t gain much information,

I wouldn’t have expected them to do any more.

 

In any case I’ve looked at the credit file you provided and can see no defaults or other adverse information that I think would’ve prompted further checks had Satsuma seen it.

 

The only loans outstanding at the time you had your first loan with Satsuma that it would’ve seen had the credit check been successful were two short term loans with the regular payments totalling £419.

 

By the time of loan two they would’ve seen a further loan with £230 outstanding.

Even taking this into consideration, I don’t think this would’ve prompted Satsuma to carry out further checks.

 

I appreciate what you’ve said about frequent payments to online gambling websites,

however at this point Satsuma wouldn’t have been expected to see this.

 

So taking this and the above into consideration,

I can’t say that Satsuma was wrong to have lent to you.

 

what happens next

 

I hope my explanation has been helpful and that I’ve answered the questions you raised.

If you’re happy with what I’ve said, you don’t need to do anything

– and we’ll close your complaint for you.

 

If you don’t agree and want to take things further,

please get in touch by 4 January 2018 –

letting us know why and including anything else that you think is important.

 

We’ll take a look at what you’ve said and let you know if it makes a difference.

 

You can also ask for an ombudsman to make a final decision

– but unless you have new information,

it’s unlikely their decision will be different from mine.

 

If you have any questions

– or need more time

– please get in touch by 4 January 2018 and we’ll be happy to help"

[fkofilee]

Was this adjudicator or ombudsman?