Hi all, I'm really hoping someone would see this and help me out I'm a 20 year old student and I stupidly took out a £300 loan with TOOTHFAIRY and I signed onto a DMP shortly after, agreeing to take £40 a month. At this point, I apparently had to pay £800. I paid them month by month and to this day I've paid them £310 and I am currently in the process of switching DMP's from Debt Advisory to Stepchange (because they're free) and I received an email from Toothfairy saying that I now needed to repay £1711!!!!!!!!!!!! Bear in mind I have kept up with payments consistently! The £40 has always gone through to them! I've logged a complaint with FOS and OFT but to be honest, they couldn't answer me straight when I asked if I would be dealing with this for the rest of my life if they don't accept any payment plans, they could keep charging interest. PLEASE help me, I start 2nd year of uni next month and this is making me very depressed, the constant emails and calls are very scary and the thought of it never going away frightens me so much!

Hey all Without wanting to go into a long and embarrassing tale of how I got to where I am, i have managed to fight my way back from the brink and get rid of nearly all of my 10+ payday loans (3 more are being cleared this week alone!) But there is one not playing ball at all, and surprise surprise its Toothfairy. After a LOT of digging I finally found the way to contact them via email here is the email I sent, their reply and my reply. Any advice on where to go from here would be much appreciated, I am expecting them to come back and reject my offer so any tips would be great.... Do you think iv made an acceptable offer? Dear Sirs I am trying to track down the details of this account I would like to discuss this account via email only, and with that in mind could you kindly provide me with a the following 1. Copy of original credit agreement 2. Breakdown of the account, including fees, charges and total amount now due. 3. Repayment plan options. This was the reply...... Dear Thank you for your message passed to us from Toothfairy Finance. Principal £100.00 Interest todate £744 Charges todate £640 Repayments todate -£24 Total Outstanding £1460 Next Due Date 29.09.12 If you are unable to pay in a one off payment, but you are willing to pay £150 per month starting from this month, we are prepared to FREEZE all interest and charges. Please confirm which offer is accepted by you, the dates that you will be making payment on and whether you wish for us to set this up to take payment automatically? If you have any questions please don\'t hesitate to call us on 0843 381 1111. Failure to make a payment will lead to ground recovery agents being dispatched to all addresses on file and if no agreement can be reached, proceedings will commence against you in your local county court. Yours Faithfully Door Collections Marshall Hoares Bailiffs After stalking this forum I sent this reply....... Dear Thank you for your email. I understand the original loan was for £100, to be paid 28 days later. This would add on interest of £36 (as per your flat rate of £9 per week, as stated on the toothfairy) I would make an offer of a full and final settlement of £176 (original loan amount, plus interest, a fair amount for charges, less £24 already paid) paid over 3 instalments. 1st payment of £58.67 would be 1st November 2012 (as I have already been paid all money has been allocated until next pay day). Kindly confirm that this is acceptable? So what do we think? H