No, I've never used these details for another payday loan. I don't see how they can withdraw nearly £148.00 from an account when the loan was only for £170.00 and I have not even received it! How they have obtained my bank details is worrying but I'm hoping that the OFT and Financial Ombudsman will have something to say about that!

I have a loan with CFO. I made the interest payment this month of £58.50. I had my wages paid into a different account this month due to other problems with creditors of my own doing but had ensured that £59.00 was in my old account for them to deduct their interest from. Anyway, SOMEHOW CFO got these new bank details and have taken the payment of 58.50. I thought nothing of it as I am trying to pay them off, but I am ok to pay the interest this month and make a bigger payment at the end of the month. HOWEVER, they have also taken £24 from my old account which are the details that they held... (making the total up to 82.50). Stupidly I panicked (after thinking i didn't have enough money for rent!) and applied for a top up loan of £170 (my own fault I know) but I still haven't received that top up amount within my account. I am prepared that next month for the combined interest would be £124.80. They have also taken this out of my account (£124.80) and are attempting to take out a further £320 (the cost of the original loan plus top up amount) SO not only have they obtained my new bank account details to take payment. They have also taken out almost £148.80 for a loan I have never had! Absolutely incredulous!! Beware!! Needless to say I am cancelling the top up amount and requesting that the full amount be refunded as a matter of urgency. I am absolutely gobsmacked at their practices and will be reporting them to the OFT. Interestingly, my bank have confirmed this morning that they have never received a payment of £170 from them for my top -up loan. FFx

Nope, this was through collections!

Nope, it was a basic I.E thing that I got from the library here!

I have just dealt with WDA and they have set up a repayment plan for me. I did send in an I.E sheet in my email also and sent this ahead of when I am due to default. They were a pleasure to deal with and have done so over email only. The lady that contacted me via email was brilliant. Her email is [email protected] k They gave me their bank details and the reference for them also. Hope this helps. FFx

Well, they're slimey little newts. As he started fobbing me off I informed him that I get "confused easily and I just want to get a pen and paper so I can go over the information as there was a lot to take in". He slowed down and went over it again. I didn't want to double bluff him and become confrontational on everything, I was interested to know what their "position" is and what people are dealing with here! I do actually believe that genuinely all he has been told in training is that they "don't have the correct licence", there are many companies in the selling industry who train their staff in this way. That's why PPI refunds are being given after all. I'm going to have to rethink my approach with these lot as they seem to be sneaky mo'fos.

So, I contacted Swift Sterling by telephone (don't stress!!) to enquire about their repayment processes should you default on a loan. Luckily the man did not ask my name or security details but then I wasn't discussing my account in detail with them at this point. He advised me that if I could not make payment on my next pay day this is their position: 1. They are entitled to take the outstanding balance on my pay day. This will be done by debit card transaction. If the funds are available, these will be taken. If the funds are available and I do not wish for them to take them, he advised me to cancel my card or move the funds so that they can not be taken when they attempt to. He advised me I will not be charged by my bank as it is a debit card transaction and not a DD. 2. He stated that until I default, there's nothing that can be done. After I default the following will occur: a) My account will be passed to an in house account manager (with a £59 fee added to it). If after 31 days the full balance has not been repaid it will then be passed onto a DCA. I enquired as to setting up a repayment plan with them, and he stated that "As they are a PPDL company, they do not have the correct licence to enable them to accept replayment plans, and this would go against responsible lending" (personally, I thought that it would be more irresponsible of them not to accept a repayment option from someone facing financial hardship but anywho) So I asked whether all PDL's have a "basic licence" which means that they can't accept repayment plans. He stated yes. I then went on to say that I have heard of numerous PDLCs that accept repayment plans as an option to repay their loans. He stated that "maybe they have a different licence". I asked him what type of licence you would need, (cos I'd probably be a better lender than most PDLCs!) he stated he "didn't know and all we're told in training is that we don't have the correct licence to be able to accept repayment plans". He then went on to say that if I am having financial difficulties "PayPlan" can be contacted and they will offer free advice and I can enter into a plan with them and they will liaise with swift sterling who will then accept the plan. I went back to the "but you don't accept payment plans so how does that work?!" - he didnt know funnily enough. So, whats all this about the difference about holding licences then? Anyone in the know? Because I feel a bit lost!! FFx

I'm not trying to be a chancer, or wiggle my way out of anything, I do want to set up a repayment plan, but I just want to make a complaint about how they go about rolling over loans without taking instructions and stating that they do. That's all!

So they have now emailed me, with a copy of the credit agreement. What I don't understand is their costs. Can someone have a look at this please and let me know how much they think I actually owe them?! We spoke a few moments ago, I wanted to forward you a copy of your signed loan agreement to further review. After carefully reviewing your account details there are two 12.00GBP late fees assessed on your account from returned broken promise payment arrangements in which as a courtesy on the account will remove late fee. The balance owed excluding the late fees is 666.00GBP owed on the account. I can offer you a 12-month repayment plan of 55.50GBP that is the longest payment arrangement I can offer you. I can also offer you a one- time settlement amount of 532.80 to settle the balance. The offers are valid until 30/April/2012 after offer expires the balance will be due in full Signed Contract STANDARD EUROPEAN CONSUMER CREDIT INFORMATION 1. Contract Details CreditorCashEuroNet UK, LLCAddress483 Green Lanes London, N13 4BSTelephone Number0808 234 4558Websitewww.QuickQuid.co.ukCredit IntermediaryGB Consumer Finance LtdAddressSt Johns Chambers, Love Street Chester, CH1 1QNTelephone NumberWebsite 2. Key Features of the Credit Product The type of creditShort-Term Cash AdvanceThe total amount of credit. This means the amount of credit to be provided under the proposed credit agreement or the credit limit.£550.00How and when the credit would be provided.The Creditor will provide the Debtor with the sum of £550.00 which is to be credited to the Debtor's designated account on a date to be agreed.The duration of the credit agreement28 daysRepaymentsYou must make 1 repayment as follows: £638.00 due on 08 February 2012 Your repayments will pay off what you owe in the following order.Repayments will be applied first to late fees, then to finance charges and then to principal.The total amount you will have to repay. This means the amount you have borrowed plus interest and other costs.You must repay £726.00 which is the sum of the total amount of credit (£550.00) and the total cost for credit, which is £176.00. 3. Costs of the Credit The rate of interest which applies to the credit agreementYour finance charge will be calculated as a flat fee equal to 16.00% of the total amount of credit and at a fixed of 208.57% per annum.Annual Percentage Rate (APR)592.24%Related CostsCosts in the case of late payments.There is no additional interest charged on unpaid balances after the due date. You may be charged £12.00 each time you fail to make a payment as scheduled on a Payment Date ("Late Fee")Consequences of missing paymentsMissed payments will be reported to a credit reporting agency if you do not make good on the obligation within the time allowed by law. Unfavourable credit reports may make obtaining credit more difficult in the future. Your account may be placed with a collections agency or sold to a 3rd party collections company who may take any collections actions allowed by law. What I don't understand is, they say that one repayment of £638 is the original amount of the loan & interest of which a payment is due. Then they go on to say that the total cost is £726.00 which is the original loan amount & 2x interest. When I entered into my original payment plan, the cost was £656.00 of which I have already paid £57.00. No late fees had been added and in fact i had not been notified of them (which is why QQ lady is taking them off my account). Now they're saying that I owe them £666.00 (a completely different amount to the £690 originally quoted!! As you can see they're offering me a resettlement figure of £532.80. After taking out the Loan in November, I have paid the following. December - £110 Interest Payment Only January - Defaulted - INTEREST AND AMOUNT FROZEN February - Set up repayment plan and paid token £25 March - Informed could not stick to original 3 month agreement and paid £57 They are still not agreeing to my alternative plan which is all I can afford. And I don't know where all these mental figures are coming from?! any Help greatly appreciated FFx

Some regulations would be great if anyone else can help with that, and possibly a template letter! I should imagine I will have a bit of a fight on my hands, however it is extortion (especially seeing as I haven't got a copy of CA despite THEM rolling over the payment everymonth with no authorisation from myself). I have changed my banks details now so they can't take anything anyway.

It might help if I say I haven't defaulted on that yet and that I am just making the £100 per month interest repayments. However have done so for the past 8 months!

The total debt for the original loan is £500. The £100 per month is interest payments on that total balance.

So, QQ have called me and I informed them that I only wanted to deal with them via email. They then asked whether they could speak to me to explain their payment offer, and I stated that they could but I'm not agreeing to anything unless they email me, and only then I will agree what I can afford. They stated they need to hang up because they are "reviewing my file and payment history" and getting back to me. I am so glad I found this site because they were hell bent on me paying 690.00 and I don't owe that much! We'll see what they come back with.

I am currently trying to sort out my PDLs. Payday Express is one of these and I can see they're a bit of a nightmare. However, I took a loan with them in July of last year and it has been rolling over ever since. The amount is £500 which means I pay £100 per month in interest. I have not instructed them to only take the interest, and by my count they have had £800 out of me and I still owe £500. My questions are this... 1. Should I have a new loan agreement with each deferral? 2. I am going to write to complain to OFt and FOS, However am also going to complain to the company directly. How do I go about doing this, and what should I say? Thanks in advance FF x

Ok, then I shall need Stella's contact details? Can anyone assist?