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Payday loan affordability complaints help please

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  • Payday loan affordability complaints help please

    Hi!

    I wonder if someone more clued up than me can help me out please.

    In a bit of financial difficulty - (raround 3/4 defaults on credit file, over 10,000 loan, credit card, payday loan, and catalogue debt)

    Trying to pay back debts and leaving myself short stupidly led to fall short on money to live on. So took out a few payday loans desperately. You all know the vicious circle

    I was able to take out 3 payday loans in the space of a week and half. None asked for payslips, none confirmed who my employer was, none did anything other than how much do you pay on bills and how much do you have left sort of checks. Peachy gave me 200 and even let me have an instant top up of 50. Piggybank gave me 100 and loans2go gave me 300 and wants me to repay 1300!!! (which I didnt realise as I had searched for 300 loans over 3 months and it had altered the loan repayments and I hadnt realised silly me)

    Now I have obviously realised I cant afford these repayments on top of other priority bills and repaying the debts I need to, to stop me from going to court.

    Does anybody know a standard sort of letter I can fire off to these companies to complain that they were unaffordable and my credit file is beyond poor, no proper checks were carried out other than taking my word for it. Should I go straight to the Financial Ombudsman?

    Any help greatly appreciated guys thank you!

    xxx
    Tags: None

  • #2
    Anyone at all please?

    Will be really grateful.

    Thanks! xxx

    Comment


    • #3
      Originally posted by Poppyseed123 View Post
      Hi!

      I wonder if someone more clued up than me can help me out please.

      In a bit of financial difficulty - (raround 3/4 defaults on credit file, over 10,000 loan, credit card, payday loan, and catalogue debt)

      Trying to pay back debts and leaving myself short stupidly led to fall short on money to live on. So took out a few payday loans desperately. You all know the vicious circle

      I was able to take out 3 payday loans in the space of a week and half. None asked for payslips, none confirmed who my employer was, none did anything other than how much do you pay on bills and how much do you have left sort of checks. Peachy gave me 200 and even let me have an instant top up of 50. Piggybank gave me 100 and loans2go gave me 300 and wants me to repay 1300!!! (which I didnt realise as I had searched for 300 loans over 3 months and it had altered the loan repayments and I hadnt realised silly me)

      Now I have obviously realised I cant afford these repayments on top of other priority bills and repaying the debts I need to, to stop me from going to court.

      Does anybody know a standard sort of letter I can fire off to these companies to complain that they were unaffordable and my credit file is beyond poor, no proper checks were carried out other than taking my word for it. Should I go straight to the Financial Ombudsman?

      Any help greatly appreciated guys thank you!

      xxx
      Debt Camel may be able to assist, i know she has been doing some sterling work on payday lending, so may have something that can be used
      I work for Wannops LLP . I give my free time available to helping other on the forum and would be happy to try and assist informally where needed. Any posts I make on LegalBeagles are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide is without liability.

      If you need to contact me please email me on Ptilley@wannops.com .

      I have been involved in leading consumer credit and data protection cases including Harrison v Link Financial Limited (High Court), Grace v Blackhorse (Court of Appeal) and also Kotecha v Phoenix Recoveries (Court of Appeal) along with a number of other reported cases and often blog about all things consumer law orientated.

      You can also follow my blog on consumer credit here.

      Comment

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