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Payday UK final response to irresponsible lending does not look right?

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  • Payday UK final response to irresponsible lending does not look right?

    I complained to Payday UK regarding irresponsible lending of various Payday loans I took out with them between 2011 & 2013. I have had a final response letter & they have not upheld my complaint. I did expect this decision on a couple of the loans due to the FCA 6 year rule. I have copied & pasted their reply below. What I am concerned about their reference to all of my loans being more than 6 years old. One of the loans was taking out in 25/06/2013 & I complained in 19/02/2019. Unless my math is questionable this is not 6 years. Also, it is their final response but they said in order for them to consider these loans I have to tell them why I didn't complain until now.

    Any advice please on how I should proceed?


    Your complaint
    Please read this part carefully as I will explain how I understand your complaint. This is important in how I have reached my decision:
    Your complaint was received via email on 19/02/2019.
    You state that you could not afford these loan, when you repaid the loan you had to borrow again to get through the next month.
    You state that we should have realised from the number of times you borrowed that your debt problems were getting worse. It was not responsible to continue to lend to you.
    You requested loans from us between 08/07/2011 and 25/06/2013.
    My Decision:
    We handle complaints following rules set out by the Financial Conduct Authority (FCA).
    One rule is that a customer must complain within 6 years of the problem. Another rule is that if more than 6 have passed, you must complain within 3 years of knowing you could complain about the problem.
    I can see that all of the loans that you are complaining about are more than 6 years old. So for me to consider these loans, I need you to tell me why you didn’t complain about these loans until now.
    Next Steps:
    I appreciate that this may not be the response you may have been hoping for but I hope you can see how and why I have come to my decision. If you are not satisfied, you may also ask for an independent review by the Financial Ombudsman Service.
    Tags: None

  • #2
    I'd take your case to the Financial Ombudsman now.

    If your complaint is that it was the rolling over of loans into new loans that was unaffordable he might be taking the start date of the first loan in a chain as the cause of action, but I think the ombudsman will agree that's wrong, and the end date (or default date) of the last loan should be used as the 6 year date. As misselling it isn't necessarily six years anyway.... have a read on Debt Camels website - she has a couple articles about the issue - https://debtcamel.co.uk/fos-time-lim...-loan-refunds/ for example.
    “We may not win by protesting, but if we don’t protest we will lose. If we stand up to them, there is always a chance we will win.” Hetty Bower

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