Txtloan Complaint Statute Barred

[Elihearts]

Re: Txtloan Complaint Statute Barred

Okay well either way, there is no harm in attempting a reclaim back from them.

[Clash1265]

Re: Txtloan Complaint Statute Barred

I actually sent them a letter tonight.

I raised the point about multiple loans and that they didn't ask about my outgoings or dependent children.

I told them also that the interest rate was also 4 times the rate that the FCA set in 2015 and even although this was prior was a good indicator it was unafforable for most people.

I also explained about each loan was a seperate contract and as I defaulted on the last one it was statute barred and extinguished and that I wouldn't be happy with any decision to offset it.

Wait and see what they say. 8 weeks counting.

[Debt Camel]

Re: Txtloan Complaint Statute Barred

I haven't come across the 5 year in Scotland statute barred in connection with payday loan refunds.

One concern may be that if myjar simply reject the complaint, then I am unsure what the Financial Ombudsman would decide in this situation as it considers what is "fair" - it is not a court.

I doubt you will get anywhere with the argument that the interest rate was too high - that is not how to win an affordabilty complaint. You need to show that the loans were not affordably for you AND that the lender should have been aware of this.

[Clash1265]

Re: Txtloan Complaint Statute Barred

Yes I have done that. I actually have the statement now and turns out I was later repaying every one of them and they reloaned the same day I have also found out they knew my income was 1200 a month but did not ask about outgoings or that I had a child or bank statements.They gave my complaint so just a case of wait and see