What is Redress? Payday loans Payback!

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Hello everyone welcome to a new video my name is jay this is jay besting so today i got a letter from providence um about uh basically potential redress which basically means in layman’s terms getting money back for interest paid on loans because they were miss sold now that is what has happened with a lot of these payday companies and a lot of other companies but

That does not mean you will get the full amount of address basically i had this with wonga i had paid over i think it was 2 000 pounds in interest something along those lines or maybe just over a thousand pounds of interest and i actually only got 39 pounds why did i only get 39 pounds well 50 million is normally allocated as average and depends how many people

Claim now longer there was a lot higher amount of people claiming um than there is for like money shop i have a money shop one at the moment going through it’s estimated that we’ll get 4.2 p in every pound and with my redress which is 3 000 pounds i paid 2 114 pounds of 14 pence interest plus the interest over me et cetera et cetera i’ll roughly get around 130

Pounds now with providen is it worth even applying i don’t know honestly provident is one of the massive massive companies that did door-to-door loans they’d pick up the cash each week etc etc um i don’t know how much interest i paid to them but it was you paid double if you lent 100 pounds you would pay back 200. my first ever loan i did that second one i paid

Back 600 and then i don’t know where it went from there i can’t remember is it worth it for you to actually do this i don’t know there is going to be millions and i mean millions of people applying for this there was 172 000 people who went from money shop i think there was around half a million people who went for wonga this will be in the millions millions of

People will apply for this thinking they will get their interest back it will be lower than any point of any other payday lender because they are so massive and they literally went door to door and offered people money in my opinion they’re a bunch of and i don’t like it they they’ve used this to bail because provident is still running to this day they do not run

The door-to-door service to my end to my knowledge anymore but they own vanquish the card company now reason this pissed me off so much was a great credit card for beginners and things like that it’s no longer advertising tv which i find a bit strange but they were a great credit card now as far as i know it is still being offered to people which means people are

Still paying interest that company’s still making money it has been said if if the offer isn’t accepted for the 50 million scheme that they will go into administration but they have a thriving company still they’re still making millions of pounds they’re using this as a way out a way out of get getting out of everything they will just basically say okay well if

The thing gets declined then we’ll just we’ll just bail and we’ll just go bankrupt they are using this as a cop-out which is really shitty don’t get me wrong they were a good card they had bad customer service but they were a good card um and they helped me build my credit rating up the loan side was very dodgy double interest is really really wrong you should never

Ever pay double on interest for anything this scheme is bad there should be a lot and i mean a lot more funds allocated for the amount of money they must have took i don’t think 50 million even scratches the surface um as you’ve seen through the video there will have been things on screen um such as my potential for just money shop our money shop thing is coming

Up soon we will soon know exactly how much we were getting at first it was estimated at 80p in every pound that went down when they started accepting six year old or more claims thank god because i got something out of it um but i will get something out of it it’s now estimated 4.2 p that’s an estimate though we don’t know for sure it could be higher it could be

As high as 20p but that’s uh thinking too much i if it is as high 20p i will likely get 600 pounds but i am looking at more than 100 nod power major i’m looking at the same percentage as wonga well if you’ve had a problem with this please please comment down below i want to hear your stories i want to hear how much how much interest you paid on these loans with

All these different payday companies money shop payday express there is loan companies that i haven’t even applied for which i probably should have because they were a lot less known at the time but the problem is you only get a limited six month time period to apply for these things unless you get a lethal telling you you are eligible a lot of people don’t know

About this you should go to this website for the financial ops month and check check if you’ve had any of these loans and see if you can still apply can’t apply for money shop anymore one was already been and gone and paid out which was absolutely awful all these people who were literally conned out of money because it was like oh yeah yeah your credit rating

Is good enough you know yes it’s our fault in some ways but we needed the money at the time or so we thought we did we were irresponsible but that doesn’t mean that they weren’t blame because they were irresponsible lenders and this is the big issue at the moment they were there irresponsible lenders they shouldn’t have lent money to us i had nine payday loans

Out at one time i guarantee most of you had a similar situation there is no way on this earth it’s 100 our fault yes we made mistakes but doesn’t mean it’s 100 our fault you need to check every website that you’ve ever had alone with normally you have most people keep letters check letters back if you can remember any of the companies if you’ve got accounts

With emails if you have the email for a long time check all these companies recover passwords do what you need to do you you we should be in thousand more but what can we do we can’t do anything the financial ombudsman’s already said once our schemes open they will wipe the hands of any claims that have been going through it um a lot of people did get their full

Address amount before these schemes started happening these schemes are literally a way for them to back out which is i hate um if i didn’t have half of these things i probably never would have had to have an insolvent reality you could see the video in the corner if you want to check that out um as i said my mission was the army but go go watch that video for a

Different yeah check and make your frustrations known this is another thing i literally complained about the amount what got from wonga it’s like all that interest that you paid and it’s like well they said they were in the wrong why don’t i get it all back it is these companies get away with murder yes you took out the loan but they shouldn’t have given you

If you did not have the credit rating to get it you shouldn’t have been given it if they didn’t do proper checks which i know provident and money shot didn’t because money shop only asked you to bring a letter of your income wonga wonga just gave every every tom dick and harry alone but that’s my rant and i want to hear what other people think tell me down below

Please like and subscribe my name is jay this justing and why are more people talking about this it’s bloody stupid more people should be talking about this see one of the other videos probably dro one is the best one for this situation but you also got top five credit cards that might have to change soon if what vanquish go into that or go up into administration

We’ll see i might do an updated video right thank you very much for watching and i’ll see you all next time

Transcribed from video
What is Redress? Payday loans Payback! By JayVesting