Advice please.

I was stupid, got seriously in trouble but worked my backside off to get myself out of trouble. Please, no lectures on stupidity, there is nothing anyone can say to me that I havent already bollocked myself for.

Took out a number of pay day loans several years ago, Paid 'majority' of the amounts off.

By that I mean I paid the amounts I borrowed and then some, however I borrowed £950 off Pounds to Pockets and have repayed £1174 but I don't feel additional the £350 they claim I still owe is fair or right.

They have defaulted me (fair enough) and have now passed the debt over to ARC Europe who are threatening me with a county court claim.

They have written 3 or so letters each one getting snottier and snottier, I have responded saying the amount was disputed with P2P but now have recevied a letter saying a County Court Claim has been prepared and could be issued.

What should my next step be?

Hi and welcome to CAG

Firstly, do you know if the 'debt' has been sold to ARC or are they acting for their client?

Do you know if any charges have been added to the account (late payment fees etc')

Just because ARC say they preparing a county court claim, this means nothing as they say 'could' not 'will'

As you have stated to them the account is being disputed, they should be suspending all collection activity until your complaint is resolved.

Thank you for your reply silverfox, I disputed the amount with P2P back in January and they responded by saying they would refer it to a 3rd party. Many emails saying it would be sold but nothing definitive, the letters from ARC say they are acting for their client.

Funding Date: 17-Nov-11

Loan Amount: £950.00

Finance Charges: £540.55

Late Fees: £36.00

Discounts & Credits: £0.00

Total Payments Received: £1174.36

Last Installment Due Date: 25-May-12

Amount Outstanding: £351.55

Well, as I see it, as ARC are acting for their client, they haven't bought the debt. Buying a debt gives them the right to take court action but as they are acting for their client, they can do no such thing.

Until the debt is sold, the only people that 'could' take action is P2P

Am I best to ignore this or reply to them again? The last letter I sent them asked them not to continue to bully or harrass me, and any further contact from ARC would be considered harrassment. I've now recevied this letter in addition to the 3 ansaphone messages since then.

Thank you for your advice

In our library, there are some letters to help with the phone calls. They must comply with a reasonable request and if they fail to do so, you can complain to them and if not resolved you can escalate to the financial ombudsman.

Were they aware that you were in financial meltdown when you applied for the loan ?

Probably not citizenb, I'm not wanting to find any get out clauses though, I borrowed the money and I've paid it back. Got myself from £17,000 of debt down to my last £2,000 and just want a line drawn under that phase of my life. Although I suppose I did take the loan out knowing I should be paying back ££££stupid. At the time I would have said anything to them just to get the money. I can see why some people want to go down the irresponsible lenders route but at the end of the day I asked for the loan