Tweet
Payday Loan Affordability Claim
With thanks to @Debt Camel
If you want to put in an affordability complaint, this is what to do:
I suggest you read https://debtcamel.co.uk/payday-loan-refunds/ and put in an immediate affordability complaint to the original Payday lender. Don't delay. If necessary/urgent, go straight to the step two complaint in that link (if you don't have time to go the leisurely route) and ask them to send you a list of your loans first.
If urgent, (eg if you are being chased by a company that has purchased the debt from the original Payday lender), in that step 2 letter add a bit which says you have been told by a debt purchase company that they are now trying to collect this debt.
Ask the original Payday lender to send you a complete history of your account. This is important unless this is the only loan you have ever had from them. They will probably refuse, just ignore this. If they say your loans are over 6 years old so they won't refund, also ignore this - the Ombudsman is making original Payday lenders pay out on older loans.
If the original Payday lender rejects your complaint, send it to the Financial Ombudsman the same day. No delays.
If the original Payday lender tells you to talk to a new debt purchaser/owner about the debt, repeat that you want the original Payday lender to look at your complaint about irresponsible lending and, if they refuse, send it to the Ombudsman.
Tell the debt purchaser/owner that you are disputing the debt with the original Payday lender as the loan was unaffordable. Tell them you have sent the original Payday lender a complaint about irresponsible lending and ask the debt purchaser/owner to hold off on any enforcement action until the dispute about the debt has been resolved.
If the complaint goes to the Ombudsman, tell the debt purchaser/owner in writing the same day that you have done this and you are still disputing the debt.
The debt purchaser/owner should not start court action whilst there is a dispute underway. It is going to be a LOT easier to win this case with the ombudsman than in the courts.
One loan complaints are hard to win, but it may be possible to get the interest removed from the outstanding balance.
(You could also look at putting in affordability complaints to any other payday lenders you have used - with any luck you may be able to get enough money back to pay off this claim! )
Â*
If you want to put in an affordability complaint, this is what to do:
I suggest you read https://debtcamel.co.uk/payday-loan-refunds/ and put in an immediate affordability complaint to the original Payday lender. Don't delay. If necessary/urgent, go straight to the step two complaint in that link (if you don't have time to go the leisurely route) and ask them to send you a list of your loans first.
If urgent, (eg if you are being chased by a company that has purchased the debt from the original Payday lender), in that step 2 letter add a bit which says you have been told by a debt purchase company that they are now trying to collect this debt.
Ask the original Payday lender to send you a complete history of your account. This is important unless this is the only loan you have ever had from them. They will probably refuse, just ignore this. If they say your loans are over 6 years old so they won't refund, also ignore this - the Ombudsman is making original Payday lenders pay out on older loans.
If the original Payday lender rejects your complaint, send it to the Financial Ombudsman the same day. No delays.
If the original Payday lender tells you to talk to a new debt purchaser/owner about the debt, repeat that you want the original Payday lender to look at your complaint about irresponsible lending and, if they refuse, send it to the Ombudsman.
Tell the debt purchaser/owner that you are disputing the debt with the original Payday lender as the loan was unaffordable. Tell them you have sent the original Payday lender a complaint about irresponsible lending and ask the debt purchaser/owner to hold off on any enforcement action until the dispute about the debt has been resolved.
If the complaint goes to the Ombudsman, tell the debt purchaser/owner in writing the same day that you have done this and you are still disputing the debt.
The debt purchaser/owner should not start court action whilst there is a dispute underway. It is going to be a LOT easier to win this case with the ombudsman than in the courts.
One loan complaints are hard to win, but it may be possible to get the interest removed from the outstanding balance.
(You could also look at putting in affordability complaints to any other payday lenders you have used - with any luck you may be able to get enough money back to pay off this claim! )
Â*
Comment