How come only this company can get away with it? the other 3 have been totally sound. is it true if I tell my bank my card is stolen and they give me a new one can they still take money by CPA?

reply from the complaints team........... Dear **************** A MiniCredit Claims Department member has replied to your claim, #424112 with the following response: The Following Response is being sent to You according to the Formal Complaints Procedure. The Office of Fair Trading „Debt Collection Guidance“ expects creditors to discuss an affordable payment plan with the Customer who faces unforeseen financial difficulties. We are in our right to refuse Your settlement offer £132.00 but have to accept a partly payment offer you wish to make. This means that the total payment plan balance is calculated according to the Loan Agreement, the Office of Fair Trading „Debt Collection Guidance“ and the "Good Practice Customer Charter" and you are then able to start clearing the balance by making affordable instalments. Please review the financial agreement you entered into with us and you may see that the applicable interest and charges were outlined within the document. When you signed the agreement, you agreed to be legally bound by those terms. Microcredit Ltd has provided to our customers with unforeseen financial difficulty the option to fill in the Hardship Application on their online account. With this option we would require proof of their claims of the financial hardship as we need to be certain that the loan was taken out in good will with the intention of making the full repayment on the due date. We are always trying to treat Customers in a fair and reasonable way considering each hardship separately. When a Customer faces unforeseen financial difficulties that could have not been known at the time of applying we consider the decrease of interest depending on the cause of the difficulties. You have asked for a payment plan due to over-commitment on credit. Please be aware that the OFT Debt Collection Guidance states that the Creditor should be open for discussing payment arrangement when the Customer is experiencing financial difficulties. The Creditor should be fair and reasonable when offering a payment arrangement for a Customer in financial difficulties. What do the terms fair and reasonable mean? The Customer whose financial difficulties were caused by an unavoidable and unforeseen circumstance should be in favour over the Customer to whom the non-repayment was known at the time of taking out the loan or the cause of the financial difficulties was over-commitment. Depending on the cause of the difficulties the creditor should consider suspending or amending charges and interest, but regardless of the cause should not demand payments that are more than the debtor can afford. The Creditor has the right to require supportive documentation regarding the cause of the financial difficulties to determine the time of the change and whether the cause was unforeseen or not. The reasonable payment arrangement can be set up only when the Customer provides documentation regarding the monthly income and expenditure. As per the OFT guidance we should not set up an arrangement where the Customer will be unable to pay for the basic needs due to the payment instalment amount. In the payment plan balance you were offered, the only overdue charge were two overdue charges totalling £40.00. The interest itself is not an overdue charges, it is the agreed cost the Consumer pays for using the loan at the rate marked in the Consumer Credit Agreement (Loan Agreement) until repayment or default. Regarding not freezing your balance, I would like to provide you the information we have received from the Financial Ombudsman Service when they have assessed complaints of this nature: The application of interest and charges by a lender is a commercial decision for a business to make, and it is not for the Financial Ombudsman Service to comment on whether or not the charges are unfair. In investigating disputes of this nature, we must look toward the terms and conditions of the specific agreement to decide whether or not the interest and charges have been applied in line with them. When an individual encounters financial difficulties, there is no obligation on any lender to make amendments to the terms and conditions of the agreement- such as reducing interest or charges. However we would expect a lender to take a positive approach to the circumstances such as providing the possibility to enter into a repayment plan. Microcredit Ltd is willing to make You the following offers: The first option is a settlement plan for £251.80, paid through our payment collection partners. Our default period is 120 days from the chosen due date. You would need to make at least one payment a month towards the balance and clear the whole remaining balance by the 24th of January 2014. Choosing this option means that You are able to avoid a default on Your credit reference file. The second option is a long term payment plan for £301.80, also paid through our payment collection partners. This arrangement allows reduced monthly payments over a longer period of time, however choosing this option means that a default on Your credit reference file can not be avoided. The payment plan balance consists of the following: 1. Original due date balance £133.80 2. Overdue charges for breaking the loan agreement £40.00. 3. Interest for 60 days £78.00 4. Debt recovery fee for setting up an alternative payment arrangement £50.00 Microcredit Ltd has provided You the option to set up a long-term payment arrangement with a decreased amount over a longer period of time although we are a short-term loan company. Microcredit usually holds the accounts for 60 days from the due date. Your default balance otherwise with all of the contractual overdue charges would have been more than £700.00. Microcredit Ltd has agreed to freeze the balance with a fixed balance. Although it will take you a longer period of time to repay the loan, the interest will be calculated only for 60 overdue days. Please let us know of Your decision latest by the 20th of September 2013. We hope this response has sufficiently answered your questions. If not, please do not send another email. Instead, reply to this email. Kind regards, Minicredit Claims Department please can I have some advice and how to deal with this reply? I am thinking just pay it in full and suffer. PaydayUK only want the loan amount back so do My Jar and so do wageday advance they all accepted £33 a month aswel so why are these idiots not helping what shall I do?

Hi guys, I sent an email to Minicredit, I am just wondering do you think this is the right way to go about it .................. had call today off customer support who gave me 2 offers I have declined them. one was to pay £250 by Jan 2014 and other was something like £50 a month (you did see my I&E sheet right?) And you do know I only borrowed £100 and only saw £80.50? This is what is going to happen it can be done simple or hard. I will offer you £33 a month for 4 months this is the contract that I took out. I will pay this on 26th I have also told my bank to cancel any CPA'S. Or you can threaten me with fraud/ rep coming to my house (who hasn't got a licence) or charge me £50 to take transfer it to an inhouse DCA OPOS. Who will then tell me where going to court. Then the court will say capital/1 month interest and 1 default charge. You may think my reaction is unreasonable....... But when Payday UK was informed of me struggling they stopped the balance there and then and am paying £50 a month for 6 months totalling £300 which is the balance anyway. MyJar balance is £120 they stopped the interest there and then and am paying back 3 x £33 1x £21. Wage day Advance £100 I owe they want £20 back for 5 months. They all understand AND they where taking out the same day. please let me know if you will accept the above if not then please don't waste your time calling me or getting Opos to call me just take me straight to court. Thanks Sorry for the bad grammar I was in work at the time. I know they are going to threaten me but I do think its in there interest to get the money back asap than spending months getting to the same place. If it does go wrong in what I have said please tell me where to go next? Thanks guys.