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  1. Yes I am still awaiting an update from them but they do have the 8 weeks so they have until the 10th Feb
  2. No I am trying to say interest should be calculated over a monthly charge to make the APR so when you settle a loan early i.e. 15 months early you should get the 15 months interest off the balance to make the settlement figure. No it says the FCA, as below I have copied the email. I’m really sorry that you’ve been unhappy with our service. We will be conducting a thorough investigation and I’ll be writing to you again once this has been completed. We may give you a call/email if we need any more information to help us investigate your complaint. I would like to assure you that we treat all complaints seriously. We are constantly striving to improve our services with all our customers and appreciate the feedback you have given. We have up to eight weeks to investigate and resolve your complaint as per FCA guidelines; this is not to say our investigation will take eight weeks and please rest assured that we will be back in touch as soon as possible. Should you need to contact us in the meantime regarding this complaint, please ensure the above reference is included on your correspondence. In the meantime, if you have any queries, please do not hesitate to contact us. Regards, 118 118 Money Customer Relations team
  3. It doesn't say anywhere, I says the total amount of the Loan and then the fixed interest charge. I have calculated the figure to work out the over charge from the amount they charged me fixed then divided it by the 24 months then see the figure and times it by the 9 months I had the loan for, then add my loan repayments times 9 and then deduct the two and there should be the settlement however it doesn't seem to add up that's why I was asking if anyone had any experience of this? I have paid the amount they said. I have complained to 118, and have had my initial response saying that it can take up to 6 weeks to resolve before I can take it to the FCA.
  4. Hi guys I took out a loan with these guys in March recently asked for a settlement the amount was way higher than I thought however I still paid them off because it still saved me over a grand in interest over the next 15 months. I have submitted a complaint to the complaints team and done their homework for them , but was wondering if anybody else has any experience with this sort of thing. anyone?
  5. Hi I have a default on my credit report from a payday lender its was with Wage Day Advance however on my credit report it states Motormile Finance Uk Limited, they originally tried to say I defaulted in December 2012, when it was actually September 2011 I queried this with noodle and got a reply to say that my report has been amended I also tried to have it removed as in the past I have paid my loans back to WDA like others (QQ, PDUK, Lending stream and wonga) now I have a default with wonga but I have to say at least when they put the default up it was correct and the previous loans have been put up with a green mark stating settled. Where do I stand with this one as they are surely mis-informing other (potential lenders) and they can't just put negative can they when there should have been positive as well - I do understand however having a PDL on your credit report is only going to look bad but surely it should be an accurate reading of somebodies risk for other potential lenders. Any advise?
  6. I got a reply from OPOS - Minicredit debt recovery regarding a loan that I took of £100, they wanted £810.00 which I told them I wasn't paying then I got a make me an offer letter, So I offered them the original loan of £100.00 although I only got £80 of it plus £50.00 for interest and charges so £150.00 total and within an hour I got a response and they accepted my agreement of that sum.I would stick to your guns and only pay the amount due in the beginning
  7. I don't understand this. The balance £930 calculated from the date of issuing the 29th of December 2011 until the 28th of March 2012 consists of the following: 1.Loan principal £200 2.interest in total £180 (1% of the Principal per day) 3.Overdue penalty £25 (was added on the 1st day overdue) 4.Overdue penalty £55 (was added on the 3rd day overdue) 5.Debit Attempt fees in total £370 (every unsuccessful attempt to receive the repayment costs up to £5) 6.Debt Recovery fee £100 (was added on the 30th day overdue) The following information has been taken from the Loan Agreement and explains the charges: KEY INFORMATION If you break this Agreement, we will charge you if we unsuccessfully attempt to obtain repayment on the due date for repayment. A fee of £25 will be charged on the day that your missed payment was due. If we unsuccessfully attempt to obtain repayment on the due date, we will attempt to obtain repayment a second time 2 days later, and if we unsuccessfully attempt to obtain repayment on this second occasion we will charge you a further amount of £55. If we unsuccessfully attempt to obtain repayment we may charge up to £5. If we unsuccessfully attempt to obtain repayment 30 (thirty) days after the due date we may charge further £100 manual debt collection recovery fee. 1) for £200 for a 30 loan which is the max the interest is £60.00 2) fee of £25 is fair enough one could say 3) say applies to that as well for the £55 4) Debt attempts fee can't equal £370 (every unsuccessful attempt to receive the repayment costs up to £5) because your contract states "If we unsuccessfully attempt to obtain repayment we may charge up to £5" it doesn't state like they are trying to have it now its each attempt thats 74 times! so that equals £5 charges 5) Debt recovery fee should never be applied I would inform then that you will be reporting them for the excessive charges and trying to claim for a recovery fee. So in total at a max I would say you owe them £345.00 thats (Loan amount of £200, Intrest of £60.00, £25 1st fee, £55 2nd fee , £5 for debt attempt fees). If you were to agree to the £100 Debt recovery fee it would total £445.00.
  8. Oh it was for some time but what I did was I cancelled the debit card with bank Natwest at the time and never spoke to txtloans until 28 days after default - however Fredrickson no longer collect under payday loans due to the volume of complaints apparently from Jan 2012. but as for my credit file for 1 it was not good to begin with thats what happens when your silly and 18/19 and use credit cards / bank loans but they have not put anything on my credit file for 2/3 credit file people. as of last month. Don't worry keep to your figure you are going to pay them others would say get there banking details and just pay them I never done that but that would be the way to go in case (which they wouldn't) they attempt to take you to court
  9. I did this with quid market and its 14 days to let them know and 28 days after the 14 days. Not 30 days
  10. Yeah they forwarded it onto Fredrickson International - whom threatened me with the world basically they have no powers what so ever I offered them £10 pcm and would only be repaying the original loan plus one months which was more than what the credit agreement was for so I borrowed £200.00 and I said as a gesture of good will I will pay back £280 over 28 months they said no and so forth since then they contacted me from a manager to discuss the account and said if I pay £175 in a full and final settlement then he would wipe off all other charges which stood at £470 so I agreed once he sent me the offer and banking details, I paid that at the end of November
  11. I was amazed as I tried to go to there address as I work near it during my lunch break to get a letter signed to state that they received it as they have not replied to one of my emails, does this mean they can use the address of: TxtLoan Ltd 1 Cornhill, London EC3V 3ND And they are not at this address this is just a post room the lady on the reception told me.. Don't believe them they can't close your bank account - who do they think they are your bank manager
  12. Is it true that even if you cancel your debit card (lost/stolen) then these PD loans can still get your money from a stolen/lost debit card? how can this happen?
  13. So do I let the council know first that I am taking this back to the magistrates or do I have to report them to the LGO? because the levying of a vehicle that doesn't belong to me nor the van charges when it can only be charged 5 days after the distress levy is placed?
  14. So you are quoting from the http://www.legislation.gov.uk/uksi/1992/613/regulation/46/made right? - however I won't win back my money in fees which were taken by the bailiffs will I? Appeals in connection with distress 46.—(1) A person aggrieved by the levy of, or an attempt to levy, a distress may appeal to a magistrates' court. (2) The appeal shall be instituted by making complaint to a justice of the peace, and requesting the issue of a summons directed to the authority which levied or attempted to levy the distress to appear before the court to answer to the matter by which the person is aggrieved. (3) If the court is satisfied that a levy was irregular, it may order the goods distrained to be discharged if they are in the possession of the authority; and it may by order award compensation in respect of any goods distrained and sold of an amount equal to the amount which, in the opinion of the court, would be awarded by way of special damages in respect of the goods if proceedings were brought in trespass or otherwise in connection with the irregularity under regulation 45(7). (4) If the court is satisfied that an attempted levy was irregular, it may by order require the authority to desist from levying in the manner giving rise to the irregularity.
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