Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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  1. #21
    Basic Account Holder yourturntopay Novitiate



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    Default Help with getting a reduced repayment plan accepted by Payday Loan companies

    Please could anybody offer me some advice on how to get this mess sorted out.

    I have several PDL and the majority of them have accepted a reduced repayment planicon. I have cancelled all the DDicon's from the PDL and cancelled my card to my account, so none of the companies can access my bank account. i also check my bank account several times a day to make sure they have not re instated any of their DD's

    3 PDL's haven't responded - Quick Quid, Lending Stream and Captial Finance One. I have emailed these 3 continuallly and this morning i received a call from Captial Finance One.

    The CFO loan was 200 and I paid 79 to roll this over last month and was due to repay the amount of 278 and I have emailed CFO 4 times over the past week, offering a repayment planicon of 46.50 over a 6 month period

    To summarise the conversation the person from CFO stated that unless I agreed to pay 80 immediately and agree to pay an extra 230 in interest and charges, taking the amount repayable to 430 then a payment plan could not be agreed.

    I refused as i didn't have 80 to pay immediately and didn't think repaying 430 on a 200 was fair so i was told that a CCJ would be issued - which i said you can only get CCJ if you go to court and i doubt a Judge would thinkntheir terms and coinditions fair and i would welcome his comments about their practice. The CFO rep then slammed the phone down!!!

    Since then I have received 2 calls on my home line (but when i answer there is just background office noise) I pressed 1471 and the number was CFO's number, 3 calls on my mobile and 2 texe message - all in the space of an hour!!

    I don't think this comany is goign to very easy to deal with - does anybody have any experience of them and what should i do next - how can i get a reasonable repayment plan activated without paying their huge interest and charges??

    Many thanks for all advice and help given, it is very much appriecated

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  2. #22
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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    If CFO do issue court proceedings I can help write a defence which will help. We can ask for Mediationicon and I bet they wouldn't like their charges assessed by a judge (another PDL company has already declined to do this and caved in with similar defence).

    Keep everything in writing and if possible get printouts of when they have called. If they do call email them with the details of the call and that you will be recording future calls - despite you asking them NOT to call.

    Do the same for each company, keep everything in email then you can use it in evidence (including this thread).


  3. #23
    Basic Account Holder yourturntopay Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    I have had several email go back and forth between CFO and myself. They state i have a balance of 440 on a 200 loan.....

    I have asked them to explain why they believe the balance to be 440, but I am still waiting for an answer.....

    I think they will argue that that 200 is the initial loan 78 is interest charge and the remaining 162 are charges.

    How do i get these charges removed - is it best to refuse to pay them anything unless they remove the charges and if the refuse wait for them to take it to court and argue the charges there????


  4. #24
    Basic Account Holder s4ddys Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    From my own experience I would set up the payment plan, then once you have paid what you owe, if they still want to argue about the charges then let them, they will not take you to court for charges alone. I fought them in court and lost, but they didn't even argue the charges and agreed they should not be added to the total cost.

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  5. #25
    Basic Account Holder Delboy01 Novitiate Delboy01's Avatar



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    Did you get a CCJ S4ddys ?? What was the outcome at court?

    www.bellyup4blues.com Just Go There !!!

    Woolwich Prelim Sent 5.12.2006 !!!
    S.A.R - (Subject Access Request) sent 22.12.2006 (yeah I know)
    16.1.2007 1000 offer rejected
    LBA sent 31.1.2007
    N1 presented to Court 15.2.2007
    Won / Settled 2 days before court date
    5200 plus int charges returned.

    All and Leics S.A.R - (Subject Access Request) sent 22.12.2006
    2nd S.A.R - (Subject Access Request) sent 15.1.2007
    Statements received
    Prelim sent 31.1.2007
    LBA Sent 15.2.2007
    Won 1500 on receiving court date..
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  6. #26
    Basic Account Holder s4ddys Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    I have had dealings with a number of companies mentioned on this site (which I am not proud of), and yes I was CCJ'ed, although I paid it off before the CCJ was registered.

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  7. #27
    Basic Account Holder yourturntopay Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    As expected CFO are saying I owe them 162 in charges!!! I don't think so somehow!!!

    I think I will take S4ddys advice and agree to the repayment planicon and repay the loan and a months interest then they go whistle for the rest!!!


  8. #28
    Basic Account Holder yourturntopay Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    Help!!! I can't get lending stream, CFO, and QQ to agree to a repayment planicon.

    CFO have gone crazy with their changes and a 200 loan is now 514 and rising.

    QQ will only accept a repayment planicon over 3 months and want 400 a month the loan was 800

    Lending Stream have just gone very quiet and are not hassling me at all, they just don't repsond to emails.

    Every time one of the companies email me i send them the offer of what i can afford (general a 6 months repayment plan agreeing to the orginial loan amount and one months interest) but none of them agree and CFO say they will keep addign charges until I repayment the loan, interest and charges they have added to the account in full.

    What can i do to get this sorted and how can I get them to remove the charges they have added??

    Please help me as I am getting very worried about this now and it is sprialing out of control


  9. #29
    Basic Account Holder 26072004 Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    Complain to the fosicon that they are being unreasonable in not accepting a reasonable offer just so they can keep adding charges and interest.

    The FOS charge these companies 400 for every complaint works out very expensive for them.

    eventually the companies invloved will pass to a debt collectoricon who will accept a lower amount, but they should not be allowed to just keep adding to your debt.


  10. #30
    Basic Account Holder s4ddys Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    By the sounds of things you have done everything you can to try and come to an arrangement. Just make sure you keep copies of all correspondence. QQ will more than likely pass to MacHall, horrible on the phone but generally quite reasonable by letter. I failed to come to an arrangement so just paid 10 each month. Each month they sent me a letter saying thank you for payment but you do not have a payment arrangement in place, so I just continued paying. That was what I could afford so that was what they were getting.

    Another plan would be save (yes save!), they money you would have paid them each month while they are being unreasonable. At some point they will offer you a reduced settlement and by then you should have they money to take them up on their offer, or just email them offering the original amount plus one months interest. They will more than likely accept.

    fosicon are always a good option, costs you nothing but costs them a fortune!

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  11. #31
    Basic Account Holder yourturntopay Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    I have made a complaint to OFT - and will look into doing one with fosicon tomorrow. I wish CFO would take me court - i'm sure a judge would rip them apart and set a reasonable repayment planicon and also reduce the charges on the account

    Thanks for the help guys - any further advice is more than welcome x


  12. #32
    Basic Account Holder yourturntopay Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    Update

    I have a severe and incurable illness, which at present is not responding to any treatment and I have had a lot of time off sickicon. I am on morphine for the pain and other medications to try and reduce my symptoms, and because of the pain and my condition I am unable to fulfil the demands of the job. However I was very lucky that I was re deployed under medical grounds to a different job in a totally different department much nearer home, but it is a lower grade then my previous job and also is a much lower pay as I am not entitled to the extra financial benefits that went with my previous job. I also had to give up my second job as I could not continue working two jobs. All of this has obviously affected the level of my income has dropped significantly, meaning I cannot afford to repay the loans as expected. I have told all the companies about this.

    CFO have behaved very badly, calling me a liar etc - unfortunately for them they did this via email - a copy of which was included in my complaint to the fosicon regarding their inability to accept a reasonable payment plan. I stated that the only reason CFO have refused a repayment planicon is because they want to add as many charges and interest as they can. I have asked the FOS to remove all the charges and interests, except 1 month and accept a repayment over 6 months.

    QQ just won't agree to a repayment planicon and insist that if any repayment plan that is set up is subject to them having my bank details and debit card details, which I point blank refused to give, so we are getting nowhere fast!!

    Lending stream have gone very quiet and are not pushing at all for repayment, so I’ll battle with them once I have dealt with CFO and QQ

    Any ideas what I can do next


  13. #33
    Basic Account Holder Jamie Kingston Informative Jamie Kingston Informative



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    wait it out, QQ will sell debt and the DCAicon will accept over 6 months all day long. CFO and lending stream not sure...


  14. #34
    Basic Account Holder yourturntopay Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    fosicon have accepted my compliant and have written to the company as they refuse to accept my formal complaint. They have asked CFO to respond to my complaint and issue their final responseicon. As we expect CFO to tell me to get stuffed in respect of my complaint (asking them to drop all charges and just add 1 months interest) FOS said that they will then follow through with my complaint and see what can be done.

    All of a sudden CFO have been very quiet and I am no longer receiving upteen calls, text messages and emails a day. They wouldn't even respond to my emails askign what my aaccount number is as FOS wanted it, but I can't find my account number on any of their paperwork


  15. #35
    Basic Account Holder IN-Trouble Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    I will soon default on a capital finance payday loanicon myself, sounds like they will be a nightmare to deal with.


  16. #36
    Basic Account Holder yourturntopay Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    I need some help please.

    CFO have now either passed or asked for assistance from (i'm not sure which one as the letter doesn't say) from Daniel and Silverman. D and S are now informing me that they intend to take court action unless I pay 627.91.

    I have asked OFT for assisatance in sorting this debt out and getting some of the charges reduced and also to get a reasonable repayment program sorted.

    What should i do. I am going to contact OFT and let them know what they have done

    Any other advice on what i should do


  17. #37
    Royalties Account Holder BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    The Office of Fair Trading will not deal with individual cases,,they will record the information and will use it
    when licences come up for renewal.


  18. #38
    Basic Account Holder yourturntopay Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    sorry i meant to say fosicon.

    I contacted FOS and they re sending a letter ton me to forward onto CO and the DCAicon. The letter confirms that a complaint has made been made regarding CFO.

    I called D and S andinformed them of situation and that the account is in disputeicon. They said if I can foward a letter that FOS are sending me, they will run the situation past their manager and decide what to do.


  19. #39
    Royalties Account Holder BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative BRIGADIER2JCS Authoritative



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    Good, I would run over the manager I thinl


  20. #40
    Basic Account Holder yourturntopay Novitiate



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    Default Re: Help with getting a reduced repayment plan accepted by Payday Loan companies

    I wish had run over the manager - i am sure it would class as "in the best interests of the community!!" :

    However, back to the long run saga of PDL v me.

    CFO
    Still doing battle - CFO do not email me any more, and I have only 1 letter from the DCAicon. To be fair to the DCA i did phone and inform them of the situation and they said my account is now on hold and will be looked at by a manager. I now have the the letter from fosicon to say I have made a compliant and it has been accepted by FOS and is awaiting a case manager to be allocated to it. I am going to fax it to them and see what happens. My guess is that they will throw this case back to CFO and the emails etc will start again.


    Quid Quick
    Bloomin useless!!! They ring occasionally and text but won't liaise re a payment plan unless it is within 3 months. I am ignoring them until they decide to offer a reasonable payment plan. I have a compliant to FOS all typed up - just waiting for their final responseicon to my complaint. If i don't get it soon I will send the FOS the complaint anyhow.


    Lending Stream
    I have heard nothing from them - not even a letter telling me i have defaulted on the loan!!! All the time they are keeping quiet, then so will I!!! It gives me more time to deal with the others.

    In short - i'm exactly where i was in January!!!



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