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About Daddy2Alex

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  1. They will tell you that you can make a Full and Final Settlement, but the chances are that unless it matches penny for penny the so called outstanding amount, it will get refused. I've offered in the region of 5 different full and final settlements but so far, had no luck. Their most recent attempt they said that they would be "willing to waive most of their debit fees". However, they refused to waive the £100 collection fee and some of their ridiculously high interest. The saga continues!
  2. Hello Everyone, Just an update as to where I'm at with the delightful people at Minicredit! So far, their loan has risen from £120 to a total of £738.60 in a month and a half. I've had several email conversations with them asking for repayment plans, each time getting a "NO" in it's various forms. In the last couple of days, I received a letter from them stating that it was a "Final Doorstep Collection Notice" and that they were charging me £100 for the pleasure of them coming to see me. The steps I've taken so far: 1) Withdrawn authority for them to charge my bank card (which they effectively said I couldn't do) 2) Withdrawn authority for them to visit me (I've yet to have a response) 3) Raised an Official Complaint with them, and received a "Final Response" (in other words, copied and pasted T's and C's). Today, I've raised a complaint with the FOS, and I'll be sending the complaint form off to the OFT. My question to you wonderful people is, is there anything more I can do for the time being? Is there anything I need to do that I haven't done? Thanks for any help, it's much appreciated!
  3. Their response to my withdrawing authority was: "Microcredit Ltd always acts according to the Loan agreement and in the Loan agreement You have provided us the right to debit Your debit card until full repayment is made and when the Loan goes overdue there is no option to withdraw the right as it was provided when You signed the Loan agreement." I did point out that it was written in the OFT Guidelines for Debt Recovery but that appeared to confuse the cutter and paster of T's and C's. Will email them again shortly revoking permission for them to visit me or contact me by anything other than email. The loan amount is now £668... Not bad considering the original outstanding amount was circa £160 at the beginning of March!
  4. I withdrew my authority for them to charge my bank card (long since cancelled and they're still charging it) but they emailed back telling me I had no right to do that... In regards to coming onto my property, does it make a difference if it's my property or not??
  5. Going back to the beginning... It's worth noting that applying for their extension is by no means guaranteed so is in effect worth less than the email they write it on. You have to apply for the extension which costs £5.99 (or thereabouts) and is then either down to a credit check or their own discretion (Minicredit have told me both ways) and it won't necessarily give you the extension. IMO it's just another way for them to extort money out of people.
  6. Just a quick update... No response from the CEO (surprise surprise). The only thing I've had from Minicredit since is a letter telling me they've referred my case to their Doorstep Collections and charged me £100 for the priviledge.
  7. Hi Everyone... After reading through the forums, I sent my Official Complaint to Minicredit on the 14th March and received the following response: Dear DR, The Following Final Response is being sent to You according to the Formal Complaints Procedure. We have received Your complaint regarding payment plan request. You have been provided the possibility since the 3rd overdue day to make payments of any amount towards the outstanding balance. We do not set up specific plans because the option to make payments of any amount is provided to all our Clients 24/7. If You continue making regular payments towards Your balance it provides You always the possibility to give us a call when You are able to gather a higher amount together and offer us a full and final settlement offer. We are willing to waive some of the overdue charges for You. The interest You would still need to pay for every day You are using our funds. Microcredit Ltd always acts according to the Loan agreement and in the Loan agreement You have provided us the right to debit Your debit card until full repayment is made and when the Loan goes overdue there is no option to withdraw the right as it was provided when You signed the Loan agreement. Please access Your online account and use the “Repayment” possibility 24/7. We are also willing to consider the possibility of a settlement figure if it is reasonable and paid in full. Please contact our Customer Support on the number 08718903015 when You have funds available to offer as full and final settlement. If the settlement is agreed, the payment has to be made with a debit card immediately. Kind regards Minicredit Claims Department What are my next steps on this? 1) I've come into enough money recently to pay back the loan amount and 1 months interest, could I email them that offer and then see what they reply? 2) Do I still make complaints to the relevant Financial Bodies in the hope that 1) Minicredit lose their licence and 2) Minicredit then wipe their completely ridiculous charges? 3) Do I ignore them and wait for them to pass me over to a DMC and deal with them instead? (even though Minicredit will try and charge me £100 for the privilege) Or do I do all of the above? Or is there something else I've missed? I've got time on my hands as my job has recently ended, and my bank details have been changed! Any help would be appreciated as I've got this far, but a bit lost as to what exactly my next step should be! Thanks in advance!
  8. I made the school boy error of not researching them before I used them. No pay day loan company is brilliant, but these have to be the worst I've ever come across.
  9. They couldn't... When I applied I said I was a temp worker working for a Recruitment Agency. They accepted the loan on that information. Yes, it was a contract for 8 weeks, but the hours weren't fixed.
  10. http://www.consumeractiongroup.co.uk/forum/showthread.php?336569-How-to-remove-a-lender-s-continuous-payment-authority Is well worth a read!!!
  11. They aren't really interested in talking to anyone unless it's payment in full. The moment you start sticking up for yourself, contesting charges, payment plans etc, they will lose interest in talking to you, let alone anything else! As I said, your first priority is to cancel your cards. I didn't, and they took every penny of my wages. With 2 kids and no money, it wasn't a good situation to be in! To prove the lack of communication in PDE, I got a text from them this morning saying my loan had defaulted. Half an hour later, I get an email saying I'm entitled to an extra £100 from them. Just keep slogging away at it, it's an uphill struggle for a while, but there is certainly light at the end of the tunnel!
  12. hahaha how about... "You annoy me!" Pretty much covers everything I said originally!
  13. It's a bit long winded... But there are one or two good points there! Not holding my breath for a reply, but it could make for interesting reading if I get one!
  14. Dear Andres, I am writing to you today to discuss with you my extreme displeasure at having dealt with your company in the last few weeks. I took out a £120 loan from your company on the 7th February 2012, with the repayment date set at the 3rd of March with a due amount of £150. So far, no issues! Unfortunately, due to unforseen circumstances, I was unable to pay the loan amount back in full on the date set. So, I phoned Minicredit a day before the due date, originally to ask for an extension (I paid the "fee" to find out if I was eligible), and when that result came back as a no, I asked if I could set up a payment plan to pay back the loan as soon as possible, in amounts I could afford. Immediately, your "Customer Services" rep started citing the Terms and Conditions at me, finally stating, "if you couldn't afford to pay it back, you shouldn't have taken it in the first place" before they then hung up on me. What appeared to have escaped their attention was the fact that had everything continued as it was meant to be, there would have been no reason for me not being able to afford the repayment. Since then, I have had ongoing "conversations" with your customer services team via email. I have stated in each email that I want to pay this loan back, with an agreed amount paid each time and all I get back in return is copied and pasted parts of your Terms and Conditions with no actual attempt to answer any of my queries. I have also phoned your customer services team on a couple of occasions, and met with nothing but aggressive, rude and entirely unhelpful people. I refer to the OFT Guidance document which states: " failing to allow for alternative, affordable, repayment amounts when a reasonable proposal is made by a debtor or a third party representative acting on his behalf (for example, a debt adviser)," and it goes on to state under the Deceptive and Unfair Methods; "under appropriate circumstances, failing to refer on to the creditor reasonable offers to pay by instalments." So far, your company has completely ruled out any form of payment plan, instead referring me to UKash vouchers which themselves are fairly unreliable as there is very little (if any) trace of where the money actually ends up. I have also noted, with growing amusement, how my outstanding loan amount keeps raising each day. I would very much appreciate it, if you could explain to me just how you can justify these charges, and if at all possible, please don't insult my intelligence by copying and pasting your Term's and Conditions back at me. For example, your charge outlined in your Terms and Conditions states: "If we unsuccessfully attempt to obtain repayment 30 (thirty) days after the due date we may charge further £100 manual debt collection recovery fee." seems somewhat excessive. I refer here to the Office Of Fair Trading Guidance for Businesses involved in Debt Collection which states: "Charging for debt recovery: charges should not be levied inappropriately or unfairly." As such, I would like a response from you outlining how you deem a £100 charge fair and reasonable please. I would also like to discuss your company's policy of Continuous Payment Authority and linked to this, your £5 charge for failed transactions. I request that you explain to me how a failed transaction costs you any money at all, let alone £5 a time, up to 3 times a day and as such, how you deem such a charge as "reasonable". Again, I refer to the OFT's Guidance document which states: m. misusing a continuous payment authority, including by (this is a non-exhaustive list): • debiting a debtor's account other than on a date or dates as expressly set out in the relevant agreement, unless otherwise specifically agreed with the debtor subsequent to the agreement having been concluded (for example, where an alternative repayment plan has subsequently been agreed between the creditor and the debtor) • debiting lesser or greater amounts than those expressly set out in the relevant agreement unless the debiting of such amounts has been specifically agreed with the debtor subsequent to the agreement having been concluded (for example, where an alternative repayment plan has subsequently been agreed between the creditor and the debtor) As you were only authorised to debit my account on the due date of the loan, your company is in direct breach of this statement as you have continuously charged my card with varying amounts since the due date has passed. Considering that your company appears to only accept UKash vouchers as a "repayment" please can you explain to me why you have been attempting to debit my card, and also charging me for the privilege at the same time. I have since withdrawn my authority for Minicredit and any associated companies to attempt to debit my account with any amount, although Minicredit has so far failed to acknowledge any receipt of this. The OFT goes on to state: "If a debtor is, or appears as if he may be, experiencing difficulties meeting repayments (for example, because an attempt by the creditor to recover a repayment is unsuccessful), we would expect the creditor, or the business seeking to recover repayment on the creditor's behalf, to exercise forbearance, and, if appropriate to do so, amend or suspend any continuous payment authority (or any other means of recovering repayments) in order that a more sustainable repayment plan might be agreed with the debtor. Continuing to seek to extract any or all monies from a debtor's account, where a debtor has failed to make a full or partial repayment, by repeated attempts to exercise a continuous repayment authority would, in the OFT's view, constitute an irresponsible lending practice for the purposes of section 25 (2B) of the Act since such a practice facilitates 'failing to treat borrowers in default or arrears difficulties with forbearance'." Being that you state on your website that you are in fact a "responsible" lender, I would like an explanation as to just how you can justify this statement being that there are quite a few discrepancies about this. I feel bound to inform you that I will be taking my complaint further than just Minicredit as I feel completely let down by your company and it's so called customer service. I look forward to your response. Kind Regards, DR
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