Payday Loans Claims for Interest

[dantripled]

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.

[highwire]

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!

[Debt Camel]

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!

[dantripled]

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.

[Debt Camel]

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.

[jojo03]

Re: Payday Loans Claims for Interest

Apologies, have removed my post as I should start my own thread :-)

[mallybee]

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?

[mallybee]

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.

[Awareness]

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.