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Unaffordability claim

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  • Unaffordability claim

    Hello I have been reading alot of comments and would just like to see if anyone has claimed back from a company called buddy loans?

    2-3years ago I had a massive gambling problem i was getting multiple payday loans every month this was from around jan 2018 until mid 2019 , I was earning different wages every month due to overtime but I could say I was clearing anywhere between 2000 to 2500 every month after tax . I applied for a loan with buddy loans while I was at my peak of my gambling problem I got 4000 and had to pay 7000 back . I am now gambling free and had to sign up to a debt management plan for all my other debt mainly payday loans and hadnto keep buddy loans separate to make sure it didn't effect my guarantor. So I have emailed a complaint for unaffordability and attached my bank statements 3 months prior and the month the loan was issued (dec18tomarch19). For a rough idea December 2018 I had 5 payday loans , I had made payments to 9 payday loans I already had existing and had gambled a ton of money , jan 19 and Feb 19 was simular but the month they issued the loan I had taken 8 payday loans before they paid in the loan and also made 16 payments to other payday loans in March. I know its crazy but at time I was in such a spiral. In March I had borrowed approx 3000 in payday loans and 4000 from them . I know I'm to blame but surely this has to be irresponsible lending. Any thoughts? And as I said maybe a month or two after the last loan in question I used gamban and arranged a dmp and have slowly got my self stable-ish finacialy
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  • #2
    Hi Lukey,

    Glad to hear you're in better financial shape.

    I does sound like you may have grounds to make an unaffordability claim but it's hard to tell without knowing more about your situation.

    Like you say, it depends on your income and expenses whether your loan was considered affordable and whether Buddy Loans conducted the appropriate checks. Did they ask/did you include your other payday loans when you applied for a buddy loan?

    It's definitely worth getting in touch with a debt charity and asking for their advice.

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