This is my first time posting a specific personal issue, but having used the advice on similar issues here in the past, I've had good results, so hoped someone may be able to help me today!
I foolishly used Uncle Buck last year for a payday loan,
but as with many of the people on here,
soon found myself unable to keep on top of payments and interest charges,
and defaulted on the account.
Even more foolishly, I buried my head in the sand, and am now having to deal with MMF.
This isn't my first time dealing with a DCA, but I'm on a mission to clear all my I'll advised debts before I turn 30, and this is my latest project.
However, I'm at a loss as to how to proceed with them, as they are not the friendliest bunch!
I've done the usual, requested a copy of my credit agreement, the notice of assignment, etc. However, I have a few concerns about where to go from here:
1. The original loan amount was £300, but MMF are asking for £670.08.
I assume this is from interest and charges added after I defaulted,
but should I be looking to pay this full amount, or can I offer to pay less?
I'm happy to pay the £300 I owe, but I feel double that is a somewhat excessive request, and won't help my financial situation!
2. If I do offer to pay less, can I still request to pay in installments?
I've made the error of paying more than I can afford in one lump sum before,
and then ended up in the vicious cycle of borrowing back to meet daily expenses,
so would much prefer to pay back a reasonable amount each month.
3. MMF have been calling, emailing, and texting incessantly,
threatening to send round an agent to visit my property.
I don't actually live at my parents' address anymore,
which is where the debt was originally opened,
but obviously I don't want these people turning up at my mum and dad's!
I used the usual template in my letter to them,
explaining that I would not accept telephone calls or home visits,
however MMF are claiming that they do have legal rights to attend my property.
I think this is probably untrue, but it has made me nervous nevertheless.
They claim that OFT rules allow them to send an agent to my home,
regardless of whether they have my permission,
as long as they give me notice.
Hope someone is able to give me some advice as to where to go next with this, it will be gratefully received if so!