Chasing the unaffordable loan refund

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Hello,

I seen a post on here that was successful in claiming back unaffordable loans, so thought I would give it a go since I have been with many. I'm not sure if I have a chance though as I often borrowed off other lenders to pay the previous without the re-rolling. I have sent off all my templates I got from debt camel.

I have attached my in loans of around 17.5k and outgoing's of around 25k. There was probably more I missed. Do you think I have a chance?

In all honesty I was quite shocked looking through my history, and felt a little sick. Unfortunately I have yet to get out of this circle of debt.

See txt files for Loan details.

[Kati]

Re: Chasing the unaffordable loan refund

tagging [MENTION=48934]Debt Camel[/MENTION] xx

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Re: Chasing the unaffordable loan refund

I went online today with Quick Quid and seen another loan for £400. No others lenders showed a history. I provided my presious addresses so this will hopefully help.

[Amethyst]

Re: Chasing the unaffordable loan refund

Do you know which ones still have balances outstanding on them ? and how much is still owed on each. Is it just these two?
- Lending Stream
- Payday Express

Your first job is to STOP taking any more loans. If you can cancel that QuickQuid loan, cancel it. If not put it on the outstanding list.

STOP trying to pay one off with another.

Break the cycle, it will never end if you carry on like this.

Then you need to do a list of the balances of those outstanding.

Then an income and expenditure sheet to figure out what money you actually have to 'play with' each month.

What does your credit file look like ? ( try Noddle.co.uk )

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Re: Chasing the unaffordable loan refund

Thanks Amethyst,

Yes, it's just those two loans which I will pay off this month. It has been a tricky few years. I'm up for a small promotion at work that should help sort this out quicker. The Quick Quid loan was one that had already been taken out but must have missed it. There were many deposits with just a string of numbers, so I was unsure if it was a loan, or from one of the many gambling sites I frequented. I'm glad to say I have now shaken off that curse.

Edit: Just paid off my payment plan with Quick Quid this month after around 9 months and have just received a text saying to take out another loan.... arghh.

[Debt Camel]

Re: Chasing the unaffordable loan refund

Hi!

You've gathered a lot of information, which is good - you need to sort it out into a separate section for each lender. A list of dates and amounts borrowed or repaid is best. That will let you see the amount of interest you paid to each lender and also clearly identify how many loans you had and the gaps between the loans for that lender. The shorter the gaps, the easier it usually is to get a refund.

Much though i love Legal Beagles, I think you may find the comments on http://debtcamel.co.uk/payday-loan-refunds/ a better place to discuss the progress of your complaints.

Good luck!

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Re: Chasing the unaffordable loan refund

I did seperate them for the emails. But I never put in when I repaid. Hopefully they can access that their side. The only thing with me was that I was taking out loans with other lenders to pay the other ones off. I already had debt camel bookmarked as I used it for templates and info. I didn't see a forum section though.

[Amethyst]

Re: Chasing the unaffordable loan refund

Debt Camel is the pro on these loans There's a comments section on her site if you scroll down to the bottom of the reclaim PDL guide page - that's where lots of people who are using her templates/guides post as they go through the process.

Great that you only have those two left to sort out and have managed to keep on top of things. Just had a quick add up on Wonga ... there's just over £5k borrowed and repayments of about £6400. If the account with Wonga is clear now, then that doesn't seem too bad ( for PDL's that is)

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Re: Chasing the unaffordable loan refund

I've had my first offer for £120 from MrLender which I accepted. Not sure if it's good or bad, but considering I'm broke it's a warm welcome.

Your first loan (Ref: ML62406278) was taken out on the 27th August 2013 for £500.00 and repaid your loan in full on the 26th September 2013. The total interest applied on this loan was £150.00.
Your second loan (Ref: ML62439499) was taken out on the 2nd October 2013 for £250.00 and paid in full on the 25th October 2013. The total interest applied on this loan was £75.00.
Your third loan (Ref: ML62461466) was taken out on 28th October 2013 for £800.00 and paid in full on the 26th November 2013. The total interest applied on this loan was £240.00.
Your fourth loan (Ref: ML62477657) was taken out on 27th November 2013 for £800.00
The total interest applied on this loan was £240.00 due to setting up a payment plan.

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Re: Chasing the unaffordable loan refund

Only had like one small loan from 24/7 Moneybox I could see, but probably had 3 around £100. Anyhow they refunded £50. Not too shabby.

PiggyBank and Safe Loans said they were happy with my credit status at the time.

Edit: They sent me a final notice. I have replied showing that I had taken out a re-roll loan with them on the same day it was paid, and also with other lender maybe 2 days prior. I attached my experian credit report.

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Re: Chasing the unaffordable loan refund

Probably better news...

Dear x,

Thank you for your email.

I have contacted the credit reference agency to ensure any adverse information is removed from your credit file however please note this may take up to 28 days to reflect.

If you require any further information please do not hesitate to contact us.

Kind regards,

MrLender

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Re: Chasing the unaffordable loan refund

Lending Stream, Piggybank and Money in Advance have been sent to the Ombusman. These were not really rollovers, ut taken out to pay off other loans and so forth.

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Re: Chasing the unaffordable loan refund

Jut to update. I have just got an offer from Wonga for £650 which I'm happy with so accepted. I guess I could of got more, but I'm off on my holidays soon so it will be well used.

I also got a reply from one month loan who repaid the interest of the loans at £450. Seems I had loaned around £850 from them. I wasn't even going to apply to them as I only thought I had borrowed £250.

Never give up

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Re: Chasing the unaffordable loan refund

Went to the obudsman for Lending Stream which was turned down as this was my first lender when my rating was good. I think I still have 4 or so with the ombudsman.

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Re: Chasing the unaffordable loan refund

Won 1 of 3 loans with Safe loans, the last and largest.