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All,

 

Continuing on with my IR claims,

I had a reply from Peachy who admitted they never carried out credit checks as there was no requirement!

 

The question I have is because its so old and has dropped from my file and is statute barred, is it worth continuing?

I still get the odd threatening email from MMF.

 

Here is their 'full and final reply'

 

 

Dear,

 

We are writing to you in response to your complaint we received on 21/01/2018.

 

We have investigated your complaint competently, diligently and impartially.

We have assessed the subject matter of the complaint and would like to provide you with our views on it.

 

We want you to know that we are deeply sorry to hear now that you were struggling financially already before the loans were issued to you and that you consider us responsible for causing you further difficulties by approving your loan requests.

 

We can assure you that it was never our intention to harm you in any way.

As creditors, we abide by our statutory obligation under the Consumer Credit Act 1974 to undertake a sound, proper and appropriate assessment of creditworthiness to assess the borrower's ability to afford the proposed credit commitment. In addition to assessing creditworthiness, we do our best to always undertake an adequate assessment of affordability.

 

Firstly, to ensure you have a clear overview of your lending history with us, we would first like to provide you with a breakdown of your borrowing with us.

 

You took out 3 loans from Peachy between 11/11/2011 and 01/12/2011.

 

  • The first loan of £100 was taken out on 11/11/2011. This loan was scheduled to be repaid in a single instalment and you repaid the loan one day after the originally scheduled due date.
  • The second loan of £100 was taken out 22/11/2011. This loan was scheduled to be repaid in a single instalment and you repaid it 1 day before the scheduled due date.
  • The third and last loan of £100 was taken out on 01/12/2011. This loan was scheduled to be repaid in a single instalment. However, this loan fell into serious arrears and despite having discussions about repayment options, we did not receive any payments towards the loan and as such, the loan was handed over to a 3rd party Debt Collection Agency called Motormile Finance. We contacted them and we can confirm that no payments have been received towards the loan and that the outstanding balance is £175.00.

The affordability check is based on information, obtained from the. The affordability assessment is also based on the borrower’s financial position as a whole and takes account of information that we are aware of at the time the credit is granted. As creditors, we employ the use of a variety of types and sources of information to assess affordability.

 

When you created the account, you provided us with the following information that you confirmed to be correct. You stated that you were in full-time employment, earning against which you listed no expenditures. When you provided this information, you also confirmed that you have provided accurate information and considered potential future income and outgoings in determining your ability to repay.

 

We note that we are not obliged to ask for copies of your bank statements and at the time you took out the loans there were no specific requirements to run credit checks. We trusted the information you provided us with to be true and accurate.

 

Our application form is designed to provide customers with all the information they need to make a well-informed decision about whether the loan is affordable for them. When you requested the loans, you were also presented with information about the full cost of the loan, SECCI and the Credit Agreement.

 

In addition, by signing the Credit Agreement, you also confirmed that you are not:

 

“a) in a Debt Management Plan (or similar scheme) or considering entering a Debt Management Plan (or similar scheme);

b) in an I.V.A or are considering entering into an I.V.A.;

c) bankrupt or considering filing for bankruptcy;

d) under notice of termination of employment, redundancy or any other notice which could affect my employment status;

e) in receipt of Statutory Sick Pay or suffering from any medical condition which would cause me to apply for Statutory Sick Pay during the period of the loan;

f) in receipt of any benefits instead of my usual wages, salary or other income declared in my application."

 

Having investigated your complaint, we are certain that the extent and scope of our assessments in assessing the affordability of your loans was in compliance with requirements set by the FCA as in accordance with the rules set out by the Office of Fair Trading.

 

Based on all of the above, it is our view that your complaint should not be upheld. However, as a gesture of goodwill, we propose to reduce the outstanding balance of your loan to the principal sum you borrowed, £100.

 

Please let us know whether you agree with our proposed resolution. This offer is made in full and final settlement of your complaint and acceptance by you will indicate your agreement to this condition.

 

This has been our final response. Should you remain dissatisfied with our explanation and the outcome of your complaint then you have the right to refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of this letter.

 

If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances.

 

You can find information about how to do this on the Financial Ombudsman Service website: http://www.financial-ombudsman.org.uk. There is helpful information about how to complain in the leaflet Your complaint and the Ombudsman which you can find at: http://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm. We have also attached the leaflet to this email for your convenience.

 

Kind regards,

 

 

Peeter Poll

 

 

Complaint Handling Specialist

 

Peachy Complaints Department

www.peachy.co.uk

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3 x Loans in the space of 3 weeks from 1 lender?!?!?! This screams IRR Lending...

Peeter Poll?!?! LMFAO - What a name! :lol:

 

OFf to the FOS! OFf you go now... You know what comes next - If you read my guide of course...

FOS are dealing with accounts beyond 6 years for IRR Lending...


 

We could do with some help from you.

 

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

 

**Fko-Filee**

Receptaculum Ignis

 

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i'd still go to the FOS


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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I have read the guide, really well written by the way! What realistically what I hope to get from FOS? Cheers

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well you can only get more or what they have offered you cant lose out


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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I have read the guide, really well written by the way! What realistically what I hope to get from FOS? Cheers

 

TA muchly... :) IF its SB and off your CRA - Then maybe its worth dropping it and letting it sit - Orrrrrrrrrrrrrrrrrrrrrrrr You can go to the FOS and get i guess some money refunded - It doesnt cost anything :)


 

We could do with some help from you.

 

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

 

**Fko-Filee**

Receptaculum Ignis

 

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Thanks for your replies! Off I go then!

 

How would I evidence the other PDLs and CCJ I had on my credit record at that time? They have dropped off also

 

I replied I was going to go to the FOS. Peeeter thinks I shouldn't.

 

 

Dear Mr

 

We are sorry to hear that you do not agree with our assessment.

 

Unfortunately however, we have made our final offer and we are unable to change our decision or offer any more. We have made our offer in an attempt to help you during your difficult times and to resolve the complaint in an early stage but if our offer is not satisfactory then you are now welcome to escalate your complaint to the FOS. Please find their contact information in our original response.

 

We would like to advise you however, that even in the unlikely event that the FOS does decide the loans were provided irresponsibly, they don't usually expect the lender to write off the original amount borrowed. They will expect businesses to refund the interest you have paid but if you have paid less than what you borrowed, then you would still be required to return whatever is missing from the capital. Therefore, regardless of the decision (your complaint upheld/not upheld by the FOS) covering the principal borrowed is a must.

 

Just to clarify your borrowing amounts. In total you have borrowed £300, whilst the total interest you have paid is £31.10. You have not made any payments towards the last loan, meaning that even if the FOS decides that all loans were irresponsibly given, then you would still need to cover the remaining principal sum you borrowed. Furthermore, we would like to advise you that in 2011 it was not standard practice for short-term lenders to run credit checks as the checks needed to be proportionate to the amounts borrowed and the repayable amounts.

 

On the other hand, if the FOS agrees that the complaint should not be upheld, you would be required to pay the principal capital as well as the interest on the loan or any default charges. In this case, our offer will also no longer be valid and we’ll expect the full payment.

 

You are however welcome to come back to us in case you change your mind and would like to accept our offer (if you have not lodged the complaint with FOS).

 

Please do not hesitate to contact us should there be any further information you require.

 

Kind regards,

 

Peeter Poll

 

Complaint Handling Specialist

 

Peachy Complaints Department

http://www.peachy.co.uk

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shouldn't of told him/


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Sorry dx I'll rephrase I said I was considering. Cheers

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just on the back of this i dont think Peachy ever credit check, they let me take out a £100 loan then top it up on same day with another £200 which on their site it says further checks on credit are required, there is no footprint on my credit report, have they always not credit checked?

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