I have been looking at the pay day loan forums for the last few months as like many of you I've got myself into terrible problems
The main issue I have had has been with Minicredit, who are incredibly difficult to deal with. I have had an outstanding balance with them since September last year and now the total amount I owe is over £1000.
From looking at previous posts from other Caggers, I have seen that Minicredit do not negotiate with debt management companies (I am currently in a DMP) and are quick to issue CCJ's.
Now the last letter I had from them was stating that it was the final chance to pay before they started legal action. I had manage to come to the agreement with them that I would pay the original loan amount and original interest which was about £520 but explained that I couldn't pay in one go.
They then rejected my offer to make 4 payments to total the £520 and since then they have gone quiet.
I was preparing myself to receive the CCJ when I get a call from Fredericksons debt collection agency saying that they are acting behalf of Minicredit and did I now want to make a payment. I explained to them that I was in a DMP and gave them contact details of the company and they haven't bothered me again since.
Now I am wondering if Fredericksons are going to try and take me court instead?? My DM company said that they negotitate with them all the time so they are likely to accept the repayment plan but this all seems completely out of character for Minicredit given the way they are known for behaving.
Has anyone else had a similar experience in that Minicredit have sold the debt on and you've been able to negotiate? I'd be really interested to know!