Hi There

Im just looking for some help on what my next steps should be regarding speed credit, i took out a loan and not long after lost my job im now on income support i live alone with my son and this is my only income, i contacted cccs who were very helpful and gave me template letter to send to the speed credit stating that id offer token payments and that could they consider freezing interest. i also sent a letter stating i cancelled CPA at my bank and that i was Cancelling it with them too at their end. I sent both these letters recorded delivery to the warwick address thats on their website, i have proof of delivery due to they were both signed for.

I have recieved emails off them stating that the loans overdue and needs paid for etc...

Yesterday i received a phone call of an unknown number which i did not answer and a msg was left my NDR saying i needed to contact them regarding my speed credit loan, at that point speed credit hadnt even informed me that it had been passed on to their debt collectors. But this morning i recieved the following email.

Ref ID:

14/07/2012

Ref Loan:

Sum outstanding GBP 354

We have made a number of attempts to contact you by email and SMS to discuss the outstanding balance on the short-term loan you took out on and you have made no effort to return these enquiries.

We have also warned you in advance of additional charges you have incurred.

As we make clear to all our customers our product is intended to be a short term financial solution. If the loan is extended this product can become expensive.

As we have not heard from you and not received payment we have been left with no alternative and are writing to advise you that this debt will be passed on to our Debt Collections Agency in the next 24 hours.

As per the terms of the contract between Speed Cr edit and yourself instructing the Debt Collections Team will add a further GBP 150 to the balance you owe. Debt recovery agents will call at the addresses we have on file for you until they are able to successfully collect the sums you owe. If our debt recovery agents, after a reasonable attempt at the addresses on file, cannot successfully recover the monies owed by you, we will issue a claim against you in the County Court for the outstanding balance plus the further charges and recovery costs that have been incurred.

You should be aware that a County Court Judgement against your name will remain for 6 years on the National Credit Records (NCR) accessed by employers, insurers and banks and may result in:-

a) difficulties in obtaining future credit

b) difficulties in obtaining a mortgage

c) being questioned at a County Court as to your financial circumstances

d) any current employers be ing informed so an application against your earnings can be issued

e) difficulty in securing future employment due to an adverse credit history and credit score

f) a Warrant of Execution and bailiffs being instructed

We will apply for a County Court Judgement followed by a Warrant of Execution and a Bailiff order to seize goods from your addresses to be issued simultaneously to the County Court Judgement. This Warrant authorises Certificated Bailiffs to seize goods at the addresses held on file for you (including what may be your family home). These goods will be taken and put up for sale at public auction until the total amount you owe is satisfied.

The initial cost of issuing a County Court Judgement is GBP 45, this will be charged to your account on the date of issue.

The further court costs including solicitors time, application for a Warrant of Execution and the appointment of Bailiffs will also be added to what you owe.

As yo u can see this will ultimately cost you a great deal more if you do not deal with this matter now.

It will also cause you a great deal of difficulty for many years to come.

We strongly recommend that you settle this amount immediately to limit further costs, preserve your credit rating and your ability to gain full time employment.

Please immediately pay 354 by either:

1) Paying online by visiting. and clicking Pay Now;

or

2) Make a bank transfer for GBP 354 to:

Barclays Bank

Account number 93462382

Sort code 20-50-94

Ref: Use your mobile number (as a reference so we can match it correctly

ALSO please EMAIL us confirming that this has been done to stop the debt being passed to the Debt Collection Team and further charges being incurred.

If you ignore this and our debt recovery agency is instructed it will be a short matter of time before the CCJ is issued and Bailiffs are instructed to seize goods.

We look forward to hearing from you confirming a speedy resolution of this matter.

If you have already repaid and this is not reflected in the above statement please contact us so we can investigate this further and correct your file.

Regards

Speed Credit - LEGAL RECOVERY

t: 084 3381 3381

ïï€ Please consider the environment before you print this email.

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Theyve never texted me so thats a lie on their behalf, and its obviously already been passed over cos they rang me yesterday, and why would a debt collector come to my address shortly, its not like id let them in, these seem quite threatening to me, what should be my next step with them.

Sorry for the long post, thanks in advance for any help.

Ignore them. SImply tell them youa re on income support. Get a quick letter from the jobcentre to prove it, and tell the PDL they are getting £1 a month. Also, this PDL is under investigation for breaking their credit license and a few other things. They seem to have become a lot more desperate lately, possibly because they could lose their license since theyve already had action taken against them before.

Should they try and take you to court, its a straightforward defence where you can show a judge proof you are on IS and that youve tried to contact the PDL but they ignored you. However, this PDL rarely goes to court, and when they actually do submit a claim, they run off when a defence is filed.

You also must file a full complaint with teh oft and trading standards, as they are posing as bailiffs which they are not. Keep that letter and show a judge it, if you ever go to court. If you need help with a letter to send these muppets to put them in their place, let me know. These are my favourite PDL to deal with.

Thanks so much for your advice, ill get straight onto puttin a complaint in. Once the files own by a debt agency are they easier to deal with than speed credit? X

SC only passes it to their inhouse DCA. Meaning its the same company, just a different trading name.

Aaahh right well there gonna get nothing but token payements out of me so they can send as many threaten emails as they like, when i read what the email said about how ive made no attempt to contact them i was so tempted to drop them an email saying " uve signed for recorded delivery mail which you've made no attempt to reply to'

No harm in telling them that. Infact it strengthens you position as you have proof and youve asked them to check again.

Thanks for the advice renegadeimp, youve put my mind at ease knowing these emails arent to be too concerned about, and that i shudnt b threatened by this company

well done for finding your way over.

If they do go court route, come back on. there re some folk on here will make a defence for you.

Thank you it makes it so much easier sharing my problem and getting advice from people who have knowledge of how these companies work and what to expect, theres alot of kind hearted people here

I sent them a email that said

"Regarding the email you sent yesterday that said i have made no effort to contact with regarding the outstanding debt, i have sent 2 letters to you regarding my current financial situation and included a budget form. these were sent recorded delivery mail which were both signed for which i have proof of. which you have made no effort to reply to, so may you please recheck your files.

Also on the email it stated you had sent me numberous texts which you have not, i havent recieved any texts off you"

I should of really included in that email that their email was a lie stating the debt was going to passed over in 24 hours when i had already received a call from NDR the day before.

Ive posted the revoke of visiting my home letter, so i guess its just a case of siiting back and waiting to see what their next move/threat is.

just recieved the following email, and sugestions on how to reply since the seem to ignore any form of communication.

Thank you for your message passed to us from Speed Credit.

We are fully compliant with all necessary laws, legislation and the Office of Fair Trade (OFT) Guidelines.

Our company registration number is 6956396 and our Consumer Credit License Number is 631166 details of which can be verified on the Office of Fair Trade website.

Your current outstanding balance is £354.

On 24.07.12 you will incur the following charges:

£350 recovery fee

£10 missed fee

1 interest charge of £48

which will make your outstanding balance £762.

You must pay either

1) £354 by 23.07.12,

OR

2) £762 by 07.08.12.

If you have any questions please don\'t hesitate to call us on 0843 381 0843.

Failure to make either payment will result in your file being passed to a third party bailiff company who will commence proceedings against you in your local county court.

Yours sincerely,

COLLECTIONS (129)

NORTHERN DEBT RECOVERY

0843 381 0843

NOTICE: The contents of this e-mail are intended for the named addressee only.

It contains information which may be confidential and which may also be privileged. Unless you are the named addressee (or authorised to receive for the addressee) you may not copy or use it, or disclose it to anyone else. If you received it in error please notify sender immediately and then destroy

Its the usual crap from them. Send it to the oft. Theres no way theyll ever get those charges to stand up on any sort of level.

Not to mention theyre trying to threaten you with bailiffs. Get it to the oft as its breaking multipe clauses of the guidance.

thanks will do, it seems funny that as a "debt collector" as they refer themselves as, that theres no way of even contacting them, the form on the website has an error msg, they have no email address and they dont post their postal address on their website.

Hows anyone ever getting intouch with these crooks?

Thats how they operate. It's also a reason why you MUST get a complaint into the OFT, each and every time you recieve a letter like that. If you dont complain, then the OFT thinks the company is acting legally and with no issues.

Ive put in my complaint to OFT, lets hope the more ppl that do it gets them shut down. I yet again emailed speed credit asking for contact information for NDR, and their reply was NDR are a paperless office and someone from their office will call you.

How the heck are they a paperless office? surely that cant stand up right for them in court?

Paperless office means inhouse DCA and they dont want repercussions if anyone is to question them. More evidence of them operating illegally. They can simply say " prove we are NDR. Good luck finding any documents!" Make sure you get the paperless office quote to the OFT.

Ive just recieved an email saying their applying to take £144 out my bank tonute even tho ive sent the cca, luckly i moved all my money benefits to a new account, anyone aware what the bank name the debits will come out as?

CCA wont stop them. You need to write to them and revoke authorisation for them to debit the account. you then need to follow the procedure to cancel the CPA with your bank. If you have a new account but with the same banking group, its possible the bank will just give them the new info because you havent shown that you revoked transaction rights.

CCA wont stop them. You need to write to them and revoke authorisation for them to debit the account. you then need to follow the procedure to cancel the CPA with your bank. If you have a new account but with the same banking group, its possible the bank will just give them the new info because you havent shown that you revoked transaction rights.

I sent the cpa revoke and theyve chose to ignore it, the bank cancelled toothfairy taking anything out the bank does.NDR try to debt from that account or their own, my new account is with a totally different bank

Who ignored it? The bank? Name and shame them.

If so, put it in writing and go to your nearest bank. By law ( FSA ruling 2009), they MUST cancel the CPA upon your instructions.

If they still refuse, then you must make formal complaints to the bank and FSA. If the bank doesnt adhere to the law within 8 weeks, contact the FOS.

Also, did you instruct them before the debit attempt? If so, should any money come out of your bank, the bank must put the money back and return the account to how it was before the transaction happened. This includes removal of any overdraft fees etc.

I sent the cpa revoke and theyve chose to ignore it, the bank cancelled toothfairy taking anything out the bank does.NDR try to debt from that account or their own, my new account is with a totally different bank

Which bank was your original bank with and who are you with now? A lot of banks are ran by the same banking group and share account details.

Which bank was your original bank with and who are you with now? A lot of banks are ran by the same banking group and share account details.

I think i didnt explain in the right way.... I cancell cpa with speed credit, halifax wouldnt cancel it first i had to threaten them with reporting them to FOS to get them to cancel it. So now its been passed on to NDR 2 days ago they said they were extending it to the 24 as a good will etc yet today ive recieved an email sayin their taking funds tonight, ive send off a cancel Cpa to the address i could find for ndr which their choosing to ignore, ive rang bank abd they said they cant cancel cpa for ndr cause they havent yet took any funds from my bank

My new bank is lloyds tsb are they in the same group as halifax, new account has no overdraft so it wiuld bounce anyways

Yes, lloyds is in the same group as halifax.

http://www.lloydsbankinggroup.com/media1/our_brands2.asp

My new bank is lloyds tsb are they in the same group as halifax, new account has no overdraft so it wiuld bounce anyways

Not necessarily. If theres a CPA, halifax/lloyds have been known to create an unauthorised overdraft due to the PDL using a CPA, and the bank will charge you for it.

Not necessarily. If theres a CPA, halifax/lloyds have been known to create an unauthorised overdraft due to the PDL using a CPA, and the bank will charge you for it.

So if i instruct them that the £144 is unauthorised as i havent gave NDR my details will the bank have refund it?