Dear adamski, I have not and will not call you a liar, so there is certainly no need to make any comment to the contrary. If you are somehow in possession of another person's credit profile, debt collection history and TXTLoan application (which is a private document), may I suggest that you encourage the customer in question to send us an e-mail to [email protected] so that the matter can be investigated? As mentioned earlier, TXTLoan is a young company that is constantly reviewing its systems and procedures. If there has been any kind of discrepancy in the application process, we would no doubt want to learn of it. Many regards, TXTLoan Customer Relations

Dear adamski, You will find that I answered your question. In post #44 you stated that you knew of a person who claimed to have been accepted by us despite being the subject of intensive debt collection activity within the past 18 months. This is not a question. In post #43 you asked how low a credit score had to be for us to reject it, which I answered by reiterating the overriding point that we credit score all applicants, the majority of whom are declined. In respect to your latest question, which asks how accepting an applicant who had been the subject of intensive debt collection activity within the past 18 months could be considered responsible lending, I must point out that I have no details of the unnamed applicant as to be able to make an informed reply. Presumably you have all the necessary information relating to the applicant's credit score, debt history and TXTLoan application in order to support your 'fact'? Many regards, TXTLoan Customer Relations

Dear adamski, Once again we appear to be in disagreement over what constitutes a fact. If you are convinced that most of our customers have a credit score that is "as low as low can be" - and you know for a fact that my previous comment on the subject was somehow false - why do you need to ask how low a credit score must be for it to be rejected by us? Surely this is information you already possess in order to construct what you believe to be a fact? In response to your second comment regarding the unnamed person who took out a loan with ourselves, I should note that a history of negative credit activity does not necessarily result in a credit score that is "as low as low can be". In fact, it is often the case that a person who has a chequered but active credit history is scored higher than somebody who has no history at all, so your example does not really satisfy the point you have attempted to make. We are a relatively young company, so our systems and procedures are constantly under review. In regard to our application process, the fact remains that around 85 per cent of applicants are rejected. Although this figure will no doubt change (for better or worse) as our company grows older, it is one that supports our commitment to responsible lending. Many regards, TXTLoan Customer Relations

Dear ric_pendle, The argument that so-called payday loan providers ought to be banned because they offer credit to those who need it but cannot obtain it elsewhere is somewhat self-defeating. What would such customers do without any available credit? If desperation is the driving incentive to take out a high interest short-term loan, then zero availability of credit is unlikely to remedy the situation. Also, you mention that you agree with the general notion that payday loan providers do not adequately means test their customers' ability to repay. In this respect, I can only comment on TXTLoan's application procedures and not those of any other credit provider, so whether the point is true in a general sense is not something that I can shed light on. Nevertheless, in regard to TXTLoan, we reject approximately 85 per cent of all applicants after credit scoring, which demonstrates our commitment to responsible lending. On the second issue, I do not have the information to hand but can make a request for it. However, due to the sensitive nature of the data, I cannot guarantee that it would be made available on a public forum. Many regards, TXTLoan Customer Relations

Dear mightyroyals, Having forwarded your comments on to TXTLoan management, I have received a couple of responses that may be of interest to you. First, TXTLoan would like to make it clear that notice by e-mail is always provided to customers before details of an unpaid balance is passed to a debt collection partner, at which point the £47 charge is added to the outstanding sum. If notice by e-mail has not been sent to a customer, the most obvious reason would be technical error. In order to establish whether any such error occurred in your case, it is necessary for you to contact TXTLoan with your relevant account details. You can do this by sending us an e-mail to [email protected]. In regard to the original issue concerning lost or stolen debit cards, I have been advised that, as a relatively young company, TXTLoan has been evaluating its processes in order to identify potential areas of improvement. One such area is that of payment methods, which are obviously limited at the moment. Although TXTLoan has softened its position on customers whose debit cards have been lost or stolen, it is important that credit agreements are honoured. Nevertheless, alternative payment methods and solutions are currently under consideration in order to provide a more effective service to customers. As with all customer enquiries that deal with private account information, it is advisable that you discuss this complaint in more detail by sending us an e-mail to [email protected]. Finally, I would suggest that you include the url of this forum discussion (or any individual post therein) in any e-mail you send to us in relation to the aforementioned issues. Many regards, TXTLoan Customer Relations

Dear mightyroyals, No thickening of the plot, I'm afraid. As mentioned above, my role is to help and advise in regard to general TXTLoan issues. Specific enquiries relating to a customer account should be addressed to the Customer Services Team. Whenever you call the Customer Services Team, you should note down the name of any person you speak to for your own reference and benefit; however, this excludes my name as it is of no relevance to your complaint. Many regards, TXTLoan Customer Relations

Dear adamski, I have no reason to agree or disagree with your personal experience as this is entirely subjective to you. My comment stated that I cannot agree with your definition of facts as you refer to them because you draw inferences from past experiences and label these as factual. For example, you wrote: Disregarding the comment regarding cigarette smoke, many of our customers use TXTLoan because we offer a convenient service - not necessarily because they are desperate. Whether desperation was the reason you used so-called payday loans in the past does not make it a fact that can be applied to all of our customers. It would be unnecessary and inappropriate for me to comment on any other lender besides TXTLoan, so I could not be drawn on the subject. Many regards, TXTLoan Customer Relations

Dear mightyroyals, My role is to address general customer concerns regarding TXTLoan and to provide help if possible, which is why I have put your complaint to management. Where specific issues relating to customer accounts are concerned, however, you ought to contact the Customer Services Team as a public forum is no place to exchange personal details. You can send most forms of correspondence to the aforementioned address in the first instance. Many regards, TXTLoan Customer Relations

Dear andy07, Yes, the reason for writing in the third person on occasion is to distinguish between myself and TXTLoan policy, as I would not want to mislead you as to believe that I personally wrote the terms or uploaded them onto a website. As for my knowing where the terms in question are located, obviously these can be found on the TXTLoan website but as I do not have a copy of mightyroyal's loan agreement, I would not want to give the impression that I know specifically what is written on it. Dear mightyroyals, As mentioned above, I cannot address specific aspects of your complaint, which means that I cannot advise as to whether any such letter was sent to you. Please contact TXTLoan Customer Support for further information. You can write to us at: TxtLoan Ltd. 2nd Floor 145-157 St. John Street London EC1V 4PY Dear adamski, I cannot agree with your definition of facts as you refer to them, but certainly respect your opinion so I suggest we agree to disagree on the points raised and discussed. In respect to the above quote, however, the sum of £300 plus £75 interest is an odd one, as TXTLoan customers would merely be required to find the £100 borrowed plus the £10 interest if the payment term is honoured. Short-term loans of this description are convenient for covering short-term cashflow problems and should not be seen as a solution to deeper financial issues. Many regards, TXTLoan Customer Relations

Dear mightyroyals, I have passed on your complaint to management and will notify you of any response. Whilst I cannot discuss the specific details of your complaint, I can advise that TXTLoan's repayment policy ought to be outlined on its website and stipulated in the loan agreement. Many regards, TXTLoan Customer Relations

Dear Adam, Unfortunately, appending a comment with "FACT" does not necessarily make it so. TXTLoan exists to provide short-term loans to those who ought to be able to repay them within the agreed period of time. The credit crunch clearly reduced the availability of credit for a large number of people, whilst the recession has hardly helped matters. I can only reiterate that TXTLoan does not exist because of the recession but as a means to address a shortcoming or hole in the market - a gap that has been widened (but not created) by the recession. Unflattering and misleading terms such as "bottom feeders" and "loan sharks" fail to disguise the fact that we provide credit to carefully selected individuals at reasonable rates within the prescribed time period. As a general guide, nobody should take out a loan of any description if they are unlikely to be able to repay it, which can be difficult to anticipate where longer term credit arrangements are concerned. However, with TXTLoan, many of our customers find themselves in a position to be able to calculate their finances efficiently and accurately because the repayment period is so short. Furthermore, it is worth remembering that TXTLoan is not a provider of long-term credit, which invariably attracts a lower APR. Instead, we offer our customers the convenience of virtually instant loans that are subject to shorter borrowing periods. Many regards, TXTLoan Customer Relations

Dear Adam, You are more than entitled to your opinion, but perhaps you fail to address an important component of your argument: TXTLoan does not exist because of the recession but as a result of the market requirement for more flexible lending. We provide fast and convenient loans that are designed to help our customers solve their short-term cashflow problems. Also, it is inaccurate to describe TXTLoan as a 'bottom feeder' because we impose relatively strict credit checks on all those who apply to receive a loan from us. Furthermore, we recognise that there is an element of risk associated with short-term loan arrangements, so we aim to manage this risk for the customer by offering no more than £100 per loan. If paid on time, the cost of this loan is just £10. Many regards, TXTLoan Customer Relations

Dear mightyroyals, I am sorry to read about the problems you have faced whilst using our service. The majority of our customers receive an excellent service and we aim to ensure that our general standard of customer care only improves with time. Having said that, we are only human and dealing with potentially complex issues such as a stolen or lost credit/debit card can result in a departure from our normal standard of service. If this has been the case, please accept our apologies on the matter. It is not possible for me to comment in any depth on your specific case because I do not possess the relevant details to access your account. It would also be inappropriate to discuss such private matters in a public arena. I will, however, make a note of your complaint and forward this on to management. With regard to the more general aspects of your situation, I can advise that if an outstanding balance has been passed on to a collections agency, a fee would be charged at that point and not on the basis of a customer having been contacted by phone. I would also suggest that you keep a record of the time, date and name of the person you spoke to whenever discussing matters over the phone, as this will help to ensure that we can maintain a good standard of customer support. As I mentioned above, I will forward your complaint on to management. Many regards, TXTLoan Customer Relations

Dear d716ag, Unfortunately, calculating APR is a little less straightforward than the method you provided above. Our APR of 994% has been checked and approved by the Office of Fair Trading, which is obviously significantly less than the 14,100% you have suggested. If you want to gain a more accurate understanding of APR and how it is calculated, please refer to the Office of Fair Trading's guide on the subject, which can you find here: http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft144.pdf (Part II, page 9) With regard to our repayment structure, it is true that interest continues to apply throughout, but that does not mean the outstanding balance will snowball until it reaches ridiculous levels (e.g. £14,100). Our repayment structure, less interest, is outlined below: Day 8- we collect £110, however, if funds are not available; Day 9- we send first overdue reminder including a £25 administrative and transaction fee, the loan totals £135; Day 11- if the loan is not paid back in full, we send a second overdue reminder including a £25 administration and transaction fee, loan totals £160; Day 16- if the loan is not paid back in full, we send a third reminder including a £20 administration and transaction fee, loan totals £180; Day 23- if the loan is not paid back in full, we send a forth reminder including a £20 administration and transaction fee, loan totals £200; Day 46- if the loan is not paid back in full, we refer the loan to our Collection Partner which incurs an additional £47 administrative charge and transaction fee. The majority of our customers repay their loans on or before the 8th day. Many regards, TXTLoan Customer Relations