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paydayloan addict

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About paydayloan addict

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  1. On a HP agreement it must be broke down for the customer so they can see how much the car is costing per month, how much the insurance is per month and then a total montly premium. To be honest though some dealers may not follow the rules as they should
  2. On a HP agreement it has to be shown seperately, so the customer knows exactly what they are paying for. Ie if the total monthly payment is £200 per month and included in that is gap insurance of £15.00 per month it has to be shown Car insurance/warranty On a personal loan document they dont need to split them up (This is car finance only) just incase someone comes along and tries to shoot me down.
  3. Well if we are being pedantic, PPI is cancellable throughout the term of the loan if monthly premium payable. The point i was trying to make is that maybe the poster got wires crossed in respect of the cancellation period. The finance manager may have said you have 14 days to cancel insurance products ect and customer then thought this included the finance agreement. Anyway, if the original poster can let me have the above info i will double check for them.
  4. Hi, I am a Finance Manager for a large car dealership. As an above post stated, you have fourteen days to cancel the agreement if it was not signed on trade property. As you signed in the dealership I am afraid you cannot. However, again as someone has stated if you treid to cancel before the deal was executed then you have a right. Did the finance manager give you a copy of the Pre contract and all subsequent documents at the time of sign up? Did you purchase any insurance products, ie gap, ppp ect as these products do have a 14 day cancellation period. Which finance company have you signed with?
  5. I did exactly the same. Phone calls are starting now! Dunno what to do now
  6. Well I phoned the bank and they told me a different story in that they should not be able to take money. Anyway he was more interested in trying to sell me Identity Theft Cover! This morning is the morning i default on my loans. I have had three texts and two calls chasing payment. Ready for the long slog. Anyone got a template letter which i could use and send
  7. I belive so, you will just have to keep checking your account and deleting.
  8. When you sign up I am sure they have some sort of clause which in basic terms means they can take the money how they see fit. Just beware, even though your card is cancelled sometimes they can get round this and leave you short. What i havedo is set up a savings account with my bank so i can transfer everything into that and then just dip in when i need some. Its a hassle but it means i keep the money not them
  9. Fingers crossed Keep us informed. When is the payment due?
  10. I think the easiest thing to say and please anyone who reads this do not take offence, but we are all just giving each other advice. It works for some people and other it does not. From experience I had a PDL with WDA I cancelled my card and DD however they still managed to take the payment on my halifax debit card. However with my current bank LLoyds, i got a new debit card mid way through last month and on payday all the pdls called me to take the payment from my new card as the old one no longer worked. So i have my fingers crossed and i will see what happens. Again if anyone takes this in offence please i am not meaning it. some wonderful advice gets passed around, it mauy work for one but not for others
  11. Bit more info. Just rang my bank and advised them i have lost my card. Asked whether anyone would be able to claim money from it. She said yes should be ok. Bugger!!! I have now set up a standing order online and i am hoping my wages will transfer to my savings account before the vermin get there hands on it
  12. I have just rang my bank to cancel my card. Made up a story about paying phone bill ect. She said they should still be able to take money. B**** I have now set up a standing order to leave my account to my savings account on payday. Now normally whats happens is that every other standing order i have goes out on pay day so i am just hoping my wages transfers to my savings account before the vultures get it
  13. I have just cancelled it online, message received was Your request has been successfully received Your Direct Debit has been cancelled and no future payments will be made. Please select an option from the left-hand menu to continue Internet banking. So first step taken
  14. HI all, Long time viewer, first time poster. Currently, I have 6 outstanding payday loans. I owe money to Countrywide, Wageday Advance, Debitcard Loans, Tower Capital, Txt Loans and Safeloans. My monthly commitment to these lot is about £350.00 just repaying the interest! Firstly I admit I owe them money and i want to pay them off but simply havent got the money. After reading the forum it seems the way to go is to default on the agreements. My payments are all due on friday and I am basically after advice on what to do. My first port of call is going to be to cancel the direct debit WDA have on my account. I am going to do this later today. I will be phoning the bank as well to tell them i have lost my card. ONly problem is that i believe they may force a payment throug, however, last month I changed my bank card as it split and none of them took a payment. In view of this should i worry? What letter do you think i should send them? I have worked out that if they freeze charges, which i doubt they will, i can pay £25.00 per month to each and they should be cleared within a year. Can anyone share any advice on what will happen and how best to deal with it? Please any advice would be welcome as i am at the end of my tether. I want to break the cycle of extending the interest payments.
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