I have a loan with PDE which started at 645 but it now up to 870, I want to reduce how much I owe to them threw negotiating, could anyone give me advice on how to deal with PDE?

Can you give as much info on your issue as possible. Loan amount, interest, any charges, dates etc. The more info the better.

I had a DRO until late last year as I currently have several debts, the debt amount is £863, the original loan amount was £645(500 + 145 interest.) I tried to contact them several times with no reply then when they finally replied they had added more interest. I do not have a breakdown of the loan although I could request this if needed.

I need help on where to go from here, should I cut my losses and pay back the £869 or?

Hi,

I hope I can offer some constructive advice on this for you.

First of all you need to work out how much you can realistically afford to repay if this is your intention. I owed a similar amount to yourself and wrote (via email) to paydayexpress customer services and collections (email addresses are on the site) advising I was unable to repay the full amount on the due date owing to a change in personal circumstances and that I requested the removal of the CPA from my account.

I proposed to repay £100 a month on an outstanding amount of £700.

You will have to speak with the advisors at PDE over the phone at the time the date is due for your payment - my advice would be to withdraw all funds you have in the account you intend to make the payments from as they will more than likely attempt to take the payments on your due date.

Speak with them - in all honesty if you are reasonable with them and are making a proposal to repay your debt then they will work with you. You can request to have the interest frozen which will generally be met - again if you show integrity.

The key part of the advice is to request what they agree with you in writing, whether that be via email or in the post.

If you need a copy of the letter to send to them to make the request I can post this in here for you.

I know these things can be a massive worry when you've got into a fix but as long as you communicate with them, they will show compassion with your situation. Good luck and please feel free to ask any further questions you may need answers to.

Very very strange advice there.

Never speak to a PDL by phone unless you record the call. Especially with PDE.

You write to them with your repayment plan and provide a basic budget summary. If they refuse to accept, then thats their problem. If you have their bank details, set up a standing order and pay them that way. If you don't, and they wont supply them, then you can use the postal order method to FORCE them to accept payment.

Very very strange advice there.

 

Never speak to a PDL by phone unless you record the call. Especially with PDE.

 

You write to them with your repayment plan and provide a basic budget summary. If they refuse to accept, then thats their problem. If you have their bank details, set up a standing order and pay them that way. If you don't, and they wont supply them, then you can use the postal order method to FORCE them to accept payment.

If you read the top of my response I did advise mailing with what you mention in your post and also to cancel the CPA - not quite sure what you find strange about that advice.

I'm drawing on personal and successful experience of working with PDE nothing more - apologies if that appears strange to you

If you read the top of my response I did advise mailing with what you mention in your post and also to cancel the CPA - not quite sure what you find strange about that advice.

 

I'm drawing on personal and successful experience of working with PDE nothing more - apologies if that appears strange to you

Hi and welcome.

Unfortunately we get posts from 'sources' that are not quite right which means when we get a post like yours advocating ringing a company, we get suspicious. This may have worked for you but for the majority of people on here have had bad experiences when calling which is why we advocate 'in writing only' as this covers everyone.

Unless you record a call, no one can say what was (or not) said.

I know you said email but then you said phone which raised our eyes and ears.

Hi and welcome.

 

Unfortunately we get posts from 'sources' that are not quite right which means when we get a post like yours advocating ringing a company, we get suspicious. This may have worked for you but for the majority of people on here have had bad experiences when calling which is why we advocate 'in writing only' as this covers everyone.

 

Unless you record a call, no one can say what was (or not) said.

 

I know you said email but then you said phone which raised our eyes and ears.

Thanks for the response and I completely agree with the sentiments that getting everything in writing and indeed putting everything in writing is the way to handle these matters.

I must admit I did read quite a lot of the forum posts prior to making my own agreement with PDE and the way I approached it has been slightly different to the advice uniformly given.

I should perhaps have added from my own experience that the first couple of times I spoke with PDE I didn't receive a confirmation of the agreement back in writing and then decided to only contact them via email going forwards from that point.

Everyone has their own way of handling a situation, but you need to remember that CAG is an advice forum. People who dont register can read the advice, and if we give out advice that causes a Creditor or DCA to take legal action, then we need to give advice that helps a person deal with that.

Things such as telephoning a creditor when there are no recorded calls or confirmation, and the operator threatening and bullying the debtor into making payments there and then. The operator then takes the payment details and proceeds to strip the persons account. We've seen that hundreds, if not thousands of times. Thats why we always say Standing order and get everything in writing. If they refuse then you know somethings not right.

I will admit that in my early days i did used to telephone people but i soon learnt.

Please keep it in writing

Sometimes if important i use signed for and print out copies of signatures. Sometimes just proof of posting and sometimes emails.