• Welcome to the LegalBeagles Consumer and Legal Forum. Please register to get the most out of the forum. Registration is free and only needs a username and email address.
  • LegalBeagles® is a free forum, founded in May 2007, providing legal guidance and support to consumers and SME's across a range of legal areas.

    Please do not post your full name, reference numbers or any identifiable details on the forum.
  • A free service which provides vulnerable consumers the ability to record their personal circumstances at a given point in time when they are looking to protect themselves against further debt or related financial problems. This is done either by self-exclusion from credit and financial promotions or to slow down the credit application process.
    Vulnerable consumers can register for FREE

    REGISTER

    Check if the Debt Collection Agency/Debt Purchaser contacting you is using the VRS register.

    CHECK NOW
    .

Payday Loans Claims for Interest

Collapse
Important !
X
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Payday Loans Claims for Interest

    Hi everyone...

    I'm new to this site and just thought i'd start a thread about my recent request for refunds of all interest on excessive payday loan rollovers.

    I believe these companies (QQ, Wonga & Wageday Advance) preyed on myself and my partner when we were at our most vulnerable. I have recently sent emails to all companies requesting a refund of the interest on all loans as I was clearly not in a position to even pay the first one off let alone continue to roll over month by month.

    I have received auto responses from Wonga and Wageday advance saying somebody is looking into my complaints and I will hear back shortly. I have received a response from QQ saying they are satisfied they did everything right?? I responded to this by saying they could not have possibly done the correct affordability checks on me as I changed my home address whilst borrowing from them and they didn't even pick up on this and still continued to lend me, which is quite worrying and clearly proves they didn't do credit checks/affordability checks each and every time. I have since received a further response saying they will now look into this further.

    Just wondered really if anyone on here has had anything similar and can you advise on times/outcomes or perhaps give me some further advice should their final response be a complete NO.

    Thanking you all in advance.
    Tags: None

  • #2
    Re: Payday Loans Claims for Interest

    Hi there,

    I had loans with all three of those lenders back in 2013.

    About a year ago Wageday Advance emailed me saying I overpaid on interest and automatically refunded it, so worth pursuing them further as they probably had the same issues with everyone.

    Wonga refunded one loan and wrote off another automatically last year under FCA orders, but refused to budge on refunds of interest on another two loans. I took my complaint re the other two loans to the FOS and after about 4 weeks they agreed to refund all interest and charges on these two other loans plus 8% statutory interest.

    I had the same issue as you with QQ, they sent me a template final response the same day saying they had carried out all relevant checks (they obviously didn't even read my email properly or carry out any sort of thorough investigation). So I took them to the FOS and again, after about 4 weeks I was awarded a full refund of interest paid plus 8% stat interest.

    When they don't play ball, use all the info you have available to you and take them to the FOS. The FOS can be very inconsistent and it's a bit of a coin toss whether they'll be on your side or not, but you have nothing to lose.

    Also check out the Debt Camel site & forum account as there's a ton of useful info there to use against these payday lenders.

    Good luck!

    Comment


    • #3
      Re: Payday Loans Claims for Interest

      Thanks Highwire !

      How to ask for payday loan redress: http://debtcamel.co.uk/payday-loan-refunds/
      An example of a reader who was awarded £3,800 by the Financial Ombudsman after QQ had rejected his complaint: http://debtcamel.co.uk/quickquid-payday-ombudsman/

      When the FO starts a case, they write to the lender. Some people are finding that the lender gives in and offers a refund at that stage, so it doesn't have to wait for the FO to make a decision.

      Best of luck!

      Comment


      • #4
        Re: Payday Loans Claims for Interest

        SUCCESS UPDATE

        I have heard back from Wageday advance and they gave me £2300 back in interest for rolled over loans. (this took 7 weeks from initial complaint)

        I have also heard back from Wonga (after 8 weeks) asking for more time. I told them I was referring to FOS (which I did) but FOS told me to wait til I had a final response before they could get involved. I waited a further 3 weeks and Wonga offered me £2401 and an apology accepting that they could have done more, which I accepted.

        Quick Quid gave me a final response of £150 goodwill gesture but said they have done nothing wrong. This one has now been referred to the FOS, which I am told could currently take 12 weeks, so we'll see.

        Comment


        • #5
          Re: Payday Loans Claims for Interest

          excellent news!

          If you have a copy of your credit record, it helps to send that to the Ombudsman. FWIW, QQ appear to one of the worst lenders for handling these complaints properly.

          Comment


          • #6
            Re: Payday Loans Claims for Interest

            Apologies, have removed my post as I should start my own thread :-)
            Last edited by jojo03; 17th March 2016, 15:09:PM. Reason: Starting own thread

            Comment


            • #7
              Hi.

              My father who passed away 3 years ago had multiple loans over the years from Provident and Greenwoods. They seemed to keep getting extended when he was struggling to pay the previous one. Can i as his son make a claim against Provident.?

              I contacted Provident about this and they said i require Letters of Administration which i don’t have. I just want to check that this is the case and if i do can i get them so long after his death

              Thank you for any help or advice?

              Comment


              • #8
                You ought to have the option to get back all intrigue you paid on the advance, all charges and an extra-statutory loan fee of 8 percent. ... You can likewise guarantee a discount from credits you've effectively satisfied, as long as you raise the case inside six years of taking out the advance

                Comment


                • #9
                  Originally posted by shanerobert View Post
                  You ought to have the option to get back all intrigue you paid on the advance, all charges and an extra-statutory loan fee of 8 percent. ... You can likewise guarantee a discount from credits you've effectively satisfied, as long as you raise the case inside six years of taking out the advance
                  Hi and thank you for your reply.

                  Provident have said that i need to provide Letters of Administration before they look at my claim. Is this something that they definitely do need or is it their way of stopping me trying to claim?

                  I have been on the official government website to try to get the letter but I have to declare several pieces of information e.g. the amount of tax etc. which i'm willing to do but i don't know how much this will be until Provident let me know how much the claim is worth. I have already asked Provident if they can let me know the amount then I can go ahead and get the letters.

                  Comment


                  • #10
                    Payday loans can't be sold to people who can’t afford them. payday loans are unlawfully sold by many lenders across the united kingdom.

                    Comment


                    • #11
                      No it's just them making sure you've got the authority to act on behalf of the person you say you're acting for. Totally normal

                      It's not a case of approaching a business and asking them ho much you can claim back. You've got to say why you think they should give it back first. The amount you could be owed depends on what you paid for. You won't get the capital sum back, but you'll get back interest and charges if they agree.

                      Comment

                      View our Terms and Conditions

                      LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

                      If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


                      If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.

                      Announcement

                      Collapse

                      MONEY & DEBT

                      Help and support with all issues related to finances. If you’d like information on sources of free, regulated, debt help and advice you can visit the Money Advice Service. It's an independent service, set up by the government to help people make the most of their money.
                      See more
                      See less

                      Court Claim ?

                      Guides and Letters



                      Search and Compare fixed fee legal services and find a solicitor near you.

                      Find a Law Firm


                      Loading...
                      Working...
                      X