Hi all

apologies if this post in in the wrong place.

I am in desperate need of some assistance. I have a loan of £520 with Mr Lender due to come out of my account tomorrow.

I took some of the advise I saw on here and emailed them this morning stating that I was in financial difficulty, I offered a repayment plan of £65 a month for 8 months (which I can manage). I have heard nothing back as of yet.

I then called Tsb to cancel the CPA. They put me through to disputes and point blank refused to cancel this CPA, and said there was nothing ear marked on my account to come out tomorrow. The very rude and poor english speaking man said that they would not investigate anything until the transaction has taken place.

I'm so worried now and I don't know what to do.

Should I call them back and ask to speak to somebody else or just wait until tomorrow to see what happens. I wanted to avoid any charges from Tsb.

I hope someone can help.

Hi Katie

Your bank MUST cancel a continuous payment authority when asked. The best way would be to visit your branch informing them to immediately cancel the CPA between yourself and Mr Lender.

Get the bank to acknowledge your letter by a signature and take a copy for yourself, your bank are liable for any further payments that are taken in error after a customer asks for a cancellation, the bank must refund them.

Hi

thanks for the reply. That's what I thought and I told him so, however he still said he couldn't do it. I'm currently at work and the bank will be shut by the time I finish and the payment is due tomorrow. I'm going to try and call them again. Thanks

Hi

 

thanks for the reply. That's what I thought and I told him so, however he still said he couldn't do it. I'm currently at work and the bank will be shut by the time I finish and the payment is due tomorrow. I'm going to try and call them again. Thanks

You need to be firm with whom you talk to at the bank if they still refuse ask to speak to someone higher, don't let them fob you off. Make sure you take the name of the person you talk to at the bank, make notes of what is said & times.

IT IS YOUR RIGHT TO CANCEL CONTINUOUS PAYMENT AUTHORITIES DIRECTLY WITH YOUR CARD ISSUER.

http://www.fca.org.uk/news/continuous-payment-authorities-your-right-to-cancel

Point them in the direction of Regulation 55 of ThePayment Services Regulations 2009:

Template letter affixed

The payday loan firms will say this is not possible, but it is - in accordance with Regulation 55 of The Payment Services Regulations 2009:

55.—(1) A payment transaction is to be regarded as having been authorised by the payer for the purposes of this Part only if the payer has given its consent to—

(a)the execution of the payment transaction; or .

(b)the execution of a series of payment transactions of which that payment transaction forms part. .

(2) Such consent—

(a)may be given before or, if agreed between the payer and its payment service provider, after the execution of the payment transaction; and .

(b)must be given in the form, and in accordance with the procedure, agreed between the payer and its payment service provider. .

(3) The payer may withdraw its consent to a payment transaction at any time before the point at which the payment order can no longer be revoked under regulation 67.

(4) Subject to regulation 67(3) to (5), the payer may withdraw its consent to the execution of a series of payment transactions at any time with the effect that any future payment transactions are not regarded as authorised for the purposes of this Part.

This means that you can simply ask your bank to refuse the payments, it is also good practice to let the lender know too.

Thanks so much for the help. All future payments to Mr Lender have now been cancelled, although I did have to really stamp my feet.

So do I need to let Mr Lender know of this now? I did email this morning stating I was in financial difficulty and offering a repayment plan, they have yet to respond. Should I email them again? It may sound silly but I can't face calling them, I'm too embarrassed.

I would email Mr Lender and requested that they cancel the CPA in place and ask them to provide you with confirmation of the cancellation.

DO NOT telephone them as they will fill your head with rubbish and try to bully you.

You have already informed Mr Lender of your difficulties and have offered them a reasonable repayment plan. They haven't replied yet because your payment is due tomorrow and they think they are getting the full payment so I am sure you will hear from them tomorrow.

Thank you. I have emailed them informing them that I have cancelled my CPA and that I am looking to arrange a payment plan. I also asked that all correspondence be made in writing. Hopefully I will get a response tomorrow, I can't handle many more sleepless nights. I'm very grateful for the responses.

You can also tell the PDL to cancel the CPA. They are NOT allowed to refuse either.

As for your bank, i would demand their response in writing along with the names of the employees declining your lawful instruction. You can then issue a formal complaint to the bank and the FCA.

I'm going to be making a complaint to the bank and also the FCA about them twice refusing to cancel my CPA.

Well the payment should have been made today. It's my first day in my new job and so far I've had 4 missed calls and 2 voicemails, all during my commute.

I've emailed them twice now offering a payment plan and asking them only to contact me via email.

Do I just wait until they acknowledge my emails?

Many thanks

Yes. Also note down all dates and times they tried to contact you.

Also write to them and tell them they must only contact you in writing.

Mr lender always make mistakes so remain calm, make sure you follow the rules and let them did a hole.for themselves. They ALWAYS do.

Keep a log of all your calls from Mr Lender. Their notorious for "losing" payment plans agreed over the phone and are ready raiders of bank accounts. As for you waiting until they acknowledge emails - don't hold your breath.

have you lodged a formal complaint against Mr lender yet? them? If not, do so and start the 8 week clock ticking for FOS.

Please keep an eye on your bank account. if they try to lift your account, insist on an immediate chargeback.

Complaint handling is not a priority with this company.

Dear Catherine,

Thank you for your email.

Please note that as you have been a good customer, we wish to try and help you, but must advise you that a £20.00 charge will be applied to the account tomorrow for non payment.

This will be followed by a charge of £20.00 on 18th July 2014 and £20.00 23rd July 2014.

Therefore in order to assist you we will require a payment of £120.00 and then we would be happy to set you up on a 3 month repayment plan.

We look forward to receiving the payment and card and pay frequency details for the repayment plan.

Kind Regards,

This is the email I've received. I can't afford to pay £120 today, should I haggle with them?

Thinking about things... I offered £65 a month for 8 months, however, I can't pay the first month until I get paid next Friday. Should I tell them this?

Thanks

You pay what you can realistically afford. NOT what they try and say. If you can only afford £20 a month for the rest of the year, then thats all they will get. The key is to make regular payments towards the debt to show your total willingness to clear the outstanding debt according to your financial means.

Sadly, PDL's think the rules and law do not apply to them. Last year, we even had a case where a PDL told a debtor to stop spending so much money on food so the PDL could be repaid faster.

There are clear rules on forebearance and fair treatment of customers. This means customers must be treated fairly (in my experience, Mr Lender have no idea of this) and unfair charges, penalties and interest are entirely unfair and they are clearly not taking into account your personal circumstances.

Lodge a complaint with Mr Lender regarding their unfair treatment.

Tell (don't negotiate) them what you can afford to pay and when you can afford it

Make payments when you say you can.

Ask them why their random fees are fair and take into account your personal circumstances. How are they justifying "charges" for £20 on h, 18th and 23rd July? £60 for what in 3 days? What tasks are they undertaking to feel they can charge such fees?!?!

"Therefore in order to assist you we will require a payment of £120.00" £120?! What for?!?! For some random desk monkey to press a few buttons?!!?!?

It seems Mr Lender want to charge you £60 random fees, plus £120 for chuff knows what and not reduce your debt at all?!!

Thus putting you further indebt?!?!? My lord!! I would love to see the justification for this!!!! Call me cynical but would Mr Lender trying to get as much £££ off individuals before their licence is revoked/handed in after November 2014?? This business model is entirely against what the FCA is suggesting.

Stay off the phone at all times!!!

I had a similar issue with Mr Lender a few years back, they did back down eventually when FOS intervened. Whilst it may take a formal complaint for them to listen and deal with a complaint, you might have to do the same. Keep a log of everything, all emails and phone calls and you'll get there in the end.

My lord!! I would love to see the justification for this!!!! Call me cynical but would Mr Lender trying to get as much £££ off individuals before their licence is revoked/handed in after November 2014?? This business model is entirely against what the FCA is suggesting.

.

Is this a fact?

Any update OP?

Towie81, "is this a fact?"

No, it's my opinion, hence the question?? Have a read through of the fca consultation paper, see if you can spot the bits where it suggests the random charges mr lender consider fair will be allowed in the future?

I cannot see them saying that £20 would ever be fair simply because you missed a payment. No person with an ounce of common sense would think that.

So sorry for the late reply guys, started my new job and been trying to get on too of it all.

Update: Mr Lender have been surprisingly reason all and I'm currently paying what I can afford. WITHOUT THE CHARGES!! Just my original loan and the interest that I owed.

I'm now onto payday express. £198 due on Monday. Yet again tsb saying they can't cancel the CPA as PDE have never taken any funds from me! Spoke to three different people, all told me the same.

Going to get that complain rolling to the FCA! I've asked PDE to cancel the CPA, told them I'm in hardship and want to set up a repayment plan!!

Here we go again...

I'm thinking that they'll try to take the funds anyway on Monday!!

Tell TSB to block any attempt at debiting your account by them. The bank cannot refuse to do this or say they can allow the transaction then chargeback.

PDE have accepted my payment plan with no issues. I'm so relieved about this.Cash4unow have been very unhelpful, and even quite threatening. I emailed them, as usual, they said they could not discuss by email. I had to phone them. They put me through to the 'legal' department who advised that they had rang my old work - before calling my mobile to see if I was still employed. I'm very embarrassed by this. I asked her why she had done this and the VERY rude woman said that she had every right to do so?I have offered to pay the same amount a month but on a weekly basis. She wants to see a copy of my new work contact, which I haven't got (well I have, but it's very vague as I'm working for an agency).She then said that if I don't cooporate, she will send a field agent to my house to discuss in person.I'm very very concerned about this one, and I'm tempted just to pay up. Very scared of this one....

Write to them and stay off the phone.

And why are you scared? If theyre stupid enough to send someone around, tell them to leave or the police will be called. They have ZERO rights to call. In fact I dont even think their credit licence allows them to make doorstep calls.

I'm scared of them sending someone round and my boyfriend finding out. I'm so shocked that they called my old work. Can I complain about this? She's certainly scared me into wanting to pay...

They wont send someone round. ITs an empty threat. And they have zero rights. If they do so, then you call the local police and have them removed.

You certainly can complain. You can send a letter fromt he CAG library about the threats.

Also remember that you spoke to them on the phone, so they know you were very unlikely to have recorded the call ( and they never record it either), so they will say anything to get you to pay.