Hello, I'm a newbie here and also a foreigner. My knowledge of dealing with debt in UK is limited. Please, help. My mother became terminally ill in 2010 and died shortly after. During her sickness I had to travel to the country my mother lived in and pay significant medical bills. I used all my credit cards to the limit and started to apply to payday loans. At the moment I have bad credit history and rely on payday loans to pay my day-to-day expenses. Even my salary is pretty good every month I struggle. As the situation is very unpleasant I became a shopaholic as well and instead of reducing my loans spent money on unnecessary goods. I think I had long enough buried my head in the sand and want to finish this debt spiral. My current credit cards are having very small limits £500-1000 and close to the limits but don't have any arrears, I have two overdrafts for £1500 with HSBC and 2370 incl. 250 emergency borrowing with Barclays and used to the limit just a days after payday as as my earning go to pay short-term loans. I had a loan from my son to repay payday loans but it wasn't enough at the time and after few month I ended up having several payday loans again. At the moment I have myjar -£1700 with an interest, 2 loans from Satsuma - £1100 each plus interest, one is half-way through, another just taken last month, Ferratum - £540, unclebuck - £450 plus interest, wagedayadvance -£930 due tomorrow, quickquid - £850 plus interest. 4 payday loans are due tomorrow with the total amount of the repayment of £2000. I can't pay them as I don't have enough money on my account. I tried to cancel CPAs but HSBC refused to do so. They cancelled my debit card instead. I wrote to all of my payday lenders. Only unclebuck came back so far with the request to discuss my budget on the phone. I refused to talk on phone. Also two credit cards from my past are sold to DCAs. After reading this forum I realised that I'm paying PRA Group and 1st credit without any reason as they probably are unenforceable as they are defaulted many years ago. And even I pay 1st credit every month they post a default on my credit card. I plan to set up repayment plans with each payday loan company and may be send them letter about irresponsible lending. What are my first steps? Thanks in advance, Angelica

Hi I was recently contacted by Motermile finance about an old payday loan from 2008. To be honest I'd completely forgotten about it and now there have been charges added by Motermile that i don't agree with. I just wanted to check that if this hasn't been to court and this is the first communication I've had, then surely it's become statute barred? Thanks

http://www.fca.org.uk/news/fca-proposes-price-cap-for-payday-lenders The FCA’s key proposals are as follows: 1. Initial cost cap of 0.8% per day. For new loans, or loans rolled over, interest and fees must not exceed 0.8% of the amount borrowed. This lowers the costs for those borrowers paying a daily interest rate above the initial cost cap. 2. Fixed default fees capped at £15 – Protects borrowers struggling to repay. If borrowers cannot repay their loans on time, fees must not exceed £15. Interest on unpaid balances and default fees must not exceed 0.8% per day of the outstanding amount. 3. Total cost cap of 100% - Protects borrowers from escalating debts. Borrowers must never have to pay back more in fees and interest than the amount borrowed.

Hi I recently received two letters about one old council tax account and one old payday loan, both over 6 years old. I have tried to arrange to pay the council tax bill but the bailiff company wont accept installments and want the full balance. The amount owed is over £700, so I'm sorry but to land that on me after 6 years and expect me to pay in full is ridiculous. The payday loan, i have no recollection of taking out and the debt collection agency have added a ton of fees on so i have issue with paying it. Are either of these debts even enforceable given they're both over 6 years old? This is the first ive heard about both of them, but i have moved house a couple of times over the last few years. Thanks

Hi, I recently contacted CFO Lending with regard to a total outstanding debt of £800 that i am struggling to repay. They have offered to let me pay the debt off over a period of four months which initailly i was pleased with. However these payments are still too high for me to afford and I think there may be a way for me to dispute these high payments? Does anyone have any experience of dealing with CFO Lending or any other options available to me? I am prepared to pay off the debt but only at comfortable payments that i can afford. Any help is much appreciated. Thank you!

As you all know, CFO are the worst. I am trying to pay them in full and close my account but because I cancelled their CPA I can't do it using my debit card. My 'account manager' wants me to unblock them and do the transaction over the phone and they will make me a deal. He says his offer expires today and if I don't pay he'll add £80 to my balance. Here's the funny bit, he didn't make me an offer. I told him how much I was going to pay (the balance on the last email I received a few weeks back) and he sort of just accepted it. He got the figure wrong twice so it obviously wasn't on his computer screen. I do not want to give these idiots any more debit card details because I don't trust them and I also don't trust that Natwest will cancel a CPA quick enough for them to not try to fleece me over the next couple of days once they have my card details. They said bank transfer would take 14 days and they'd add charges in the mean time yadda yadda yadda. I know all payday lenders are crooks but CFO are a bunch of halfwit shysters. In what universe does a bank transfer take 14 days in 2014? They obviously just want my card details but they're not getting them. Some advice, if you hadn't figured it out already do not use their formstack to enter your card details, it is literally just a text form, not a payment system and you're just sending them unencrypted info for them to process manually, which means they can put whatever amount through that they like! Sorry for the rant, here's my real question: Can a CPA be set up on a cash card? I have a cash card for my metrobank account, if I thought it was safe I'd pay with that. I can use it online and in stores but I can't set up any sort of regular payments. But as a CPA is more like a POS transaction would they be able to set one up? If that's a no go, I considered getting a prepaid debit card but I'd need it fairly quickly. Has anyone got any experience with virtual prepaid cards that aren't that expensive (I'd need to load on around £250) Should I just do the bank transfer? I have a feeling they won't close the account and it'll be a big mess.

It seems Govan Law Centre has taken 23 payday lenders on for a client and had success. And has redesigned their Payday Loan info. And their debt leaflet. Do you fancy challenging them, see how you or a friend or relative may be able to. Or pass the info on. Details here. Listen if you feel like it then take a look at the leaflet. Friday, 20 December 2013 Govanhill success for GLC's Payday Loan Survival Guide as relaunched with Glasgow University's Student Representative Council Govan Law Centre's (GLC) Payday Loan Survival Guide has been redesigned and relaunched with the support of Glasgow University's Student Representative Council (GUSRC). You can download the new GLC 'Breaking free from payday loan debt' leaflet here. Working in partnership with GUSRC, we have also launched a separate Glasgow student version of the guide, which is available from GUSRC on Glasgow University's campus at the John McIntyre Building. The guide has been used to help empower citizens to regain control of their finances and challenge unfair charges and interest whereever possible. Govanhill Law Centre (GhLC) solicitor, Rachel Moon, recently used the legal arguments in the guide to secure a fantastic outcome for a client in Glasgow's Govanhill. said: "Wonga currently have an advert showing the 'real life' stories of people who use Wonga, however the stories do not correspond with our experience with this pay day loan company and others. Our client was hospitalised and off work and as a result receiving only statutory sick pay. Our client took out pay day loans as she was struggling to maintain her court agreed rent payment arrangement. These loans were continually rolled over incurring the additional fees and costs in addition to the high rates of interest. The money was taken directly from her account leaving her with little or no money to buy food and other necessities and certainly no money to pay her rent. We made a complaint on behalf of our client to the 23 pay day loan companies who had given her credit in a matter of minutes. This was on the basis that the companies had not undertaken proper creditworthy assessments under the Consumer Credit Act 1974, as they are required to do and that the loans should be written off as a result. We argued that it should have been apparent from the assessment carried out that the loan was not suitable or affordable for our client. Payday loans aren't cuddly or cheap We have had some success and a number of the companies have confirmed that they will write off the debt in its entirety; other companies have advised that no further interest will be added to the outstanding amounts and would offer a settlement figure of capital alone. During this process, it was discovered that an administration fee was incurred when our client went through a broker website. When requested to do so, these have all been repaid within a number of days". I will put this part on again. Part 1-Tell you how to stop a payday lender taking money out of your account. Part-2-Challenge interest and charges where possible. Part 3-Example letter of complaint-And what happens next. And Manage the debt on a affordable basis.And access fairer forms of credit. 'Breaking free from payday loan debt' leaflet here.

Hi all, In July 2012 I settled an outstanding payday loan (for roughly £350) with 247MoneyBox, after it had been passed on to the debt collection company Equidebt. I agreed the settlement figure with Equidebt and paid it into their account, with the company assuring me they would now inform 247MoneyBox that the debt had been settled. I requested written confirmation of this (which I have since passed on to my employer as part of a security check). Over a year later and I have started receiving letters from a company called Rossendales Collect, informing me that I still have an outstanding loan with 247Moneybox. I rang them and explained that I had already settled the account with Equidebt, and they informed me that I would need to send them proof of this so that they could close the account. I can only presume that Equidebt failed to inform 247MoneyBox that I had settled the debt way back in July 2012. Now I need to prove this to both the new debt collection company and 247MoneyBox, but Equidebt have gone out of business. Can anyone help?! Its been over a year since I had any dealings with any of these payday loan/ debt collection companies and I really thought I'd seen the back of them! Thanks, Segway

Safeloans have been one of the worst in my experience at leaving a footprint on credit files, after much tooing and froing i've received confirmation that all loans were made on a 'running' contract basis up to May 2012 when they apparently switched to a fixed sum loan agreement. What this means in practice is that if they left multiple entries on your credit file pre-May 2012 you can rightfully ask them to consolidate it into one entry. I believe that as i had a single account number and a credit limit for applications that all loans were essentially a revolving credit agreement as they didn't do any further credit checks so i'll be pushing for the post May-12 entries to be consolidated too but thought just having that first part at the moment would be helpful to some...

hi, many thanks in advance, i have found this website and was hoping everyone here will be able to help me get out of this terrible trap of payday lenders. i have currently got 7 payday loans with the following companies. payday uk £250 payday express £320 1 month loan £377 safe loans £300 wage day advance £425 mr lender £230 lending streem £312 payday uk i didnt make any payment last month. total debt with pay day lenders is 2214 as well as these debts i have a capital one credit card more 650 balance 150 over my credit limit. and another one that is within my credit limit. totalling debt over 3000. the main reason i have come on here is to hopefully get day to day guidance on the communication I need to have with the lenders that i am involved with. letter templates ect. i am currently trying to move up the ranks at work and looking at a really good job in the future and dont want this getting in the way. do they call your work? can i stop it? interest payments? please guys help me to get out of this. income is 1000 every 4 weeks, expenditure i can push to 400 pound as per that 4 week pay period. i will be very grateful to whomever can assist. payday is today btw 05/08/11.

Basically, i had issues with my car (which i need for work) and had to get a new one, had a lot of bother with "contact issues" i'll post the email jargon, long read(TLDR also): sorry for that fact , help is appreciated (READ FROM BOTTOM UP): My most recent emai ((included in TLDRl (i was on holiday)), TLDR: "I tried to arrange other repayment, this was there response: Thank you for the email. Your cancellation request of continuous payment authority is not lawful as this is a financial agreement. Please note that a continuous-payment authority is not covered by any bank guarantee and can only be cancelled by the business that holds the authority. Please note that the cancellation of continues payment authority does not free you of your obligation to make the payment and can be cancelled only when you have an alternative payment method in place or in case you have already made the payment. No payments have been wrongly collected nor disputed. We would like to draw your attention to the fact that even though you have contacted us prior your due date, it does not change the fact that you must have had funds available to repay your loan on the agreed date. Your loan is overdue and we are not obliged to provide you with any discounts at all, however we are still willing to settle your account with £50. If this is not suitable for you or we do not receive funds by Friday 12/07/2013 latest, offer will not be valid any longer and additional charges will be added according to our Credit Cycle until your balance is cleared in full or debt is forwarded to a debt collection agency" : My respnose: I am now making a formal complaint as i have tried to contact yourself regarding a payment that was due on the 1st June 2013. As i would not have then funds available on the card registered contacted your company via the "Contact us section" of your website to explain this and to arrange alternative payment via my second bank card as i was unsure a bank transfer would be quick enough, and i could not get an agent over the phone. Your company decided not to contact me but instead let the payment default, to which my response from the collections team was "We would like to draw your attention to the fact that even though you have contacted us prior your due date, it does not change the fact that you must have had funds available to repay your loan on the agreed date.", this breaches multiple OFT guidelines and by ignoring my request to gain profit from a lack of response (To which i have still had no explanation as to why i was not contacted) If required i can state the necessary guidelines breached as a result of this and can forward the full conversation with the collections team highlighting the guidelines breached (As you may be aware speedcredit recently lost its credit license due to following such practices) Furthermore your company refused to provide me with bank details to make the payment (which has been refused) and a letter of final response (which has been ignored) which I am BOTH STILL REQUESTING as i am NOT refusing to make payment, only that i can pay what i know is due and to pay in a manner that i am comfortable with. Finally, you may be aware that a CPA is still active on my account and that you have taken APPROX £130 from my account even though i have requested for this to be cancelled. As a result of this, i will be issuing a charge-back with my bank to recover the funds unlawfully taken, as i stated would happen if this was not investigated and resolved to my satisfaction, i now request that you either resolve this matter and provide a paper letter stating my amount to pay is £32.50 or you send a letter of final response so i can take this further with the Financial Ombudsman Services (F.O.S.). Failure receive a letter of final response or a resolution i will be eligible to take my case to the F.O.S. at the end of this month, as the 6 weeks default period will have passed: or you can arrange a court date with myself for a date i will not be working as this will further reduce my funds. I have already reported your practice to the OFT and shall continue to report on malpractice. ----------------------------------------------------------------------------------------------------------------------------------------------------------- ACTUAL FULL EMAIL (READ FROM BOTTOM UP) To whom it may concern, I am now making a formal complaint as i have tried to contact yourself regarding a payment that was due on the 1st June 2013. As i would not have then funds available on the card registered contacted your company via the "Contact us section" of your website to explain this and to arrange alternative payment via my second bank card as i was unsure a bank transfer would be quick enough, and i could not get an agent over the phone. Your company decided not to contact me but instead let the payment default, to which my response from the collections team was "We would like to draw your attention to the fact that even though you have contacted us prior your due date, it does not change the fact that you must have had funds available to repay your loan on the agreed date.", this breaches multiple OFT guidelines and by ignoring my request to gain profit from a lack of response (To which i have still had no explanation as to why i was not contacted) If required i can state the necessary guidelines breached as a result of this and can forward the full conversation with the collections team highlighting the guidelines breached (As you may be aware speedcredit recently lost its credit license due to following such practices) Furthermore your company refused to provide me with bank details to make the payment (which has been refused) and a letter of final response (which has been ignored) which I am BOTH STILL REQUESTING as i am NOT refusing to make payment, only that i can pay what i know is due and to pay in a manner that i am comfortable with. Finally, you may be aware that a CPA is still active on my account and that you have taken APPROX £130 from my account even though i have requested for this to be cancelled. As a result of this, i will be issuing a charge-back with my bank to recover the funds unlawfully taken, as i stated would happen if this was not investigated and resolved to my satisfaction, i now request that you either resolve this matter and provide a paper letter stating my amount to pay is £32.50 or you send a letter of final response so i can take this further with the Financial Ombudsman Services (F.O.S.). Failure receive a letter of final response or a resolution i will be eligible to take my case to the F.O.S. at the end of this month, as the 6 weeks default period will have passed: or you can arrange a court date with myself for a date i will not be working as this will further reduce my funds. I have already reported your practice to the OFT and shall continue to report on malpractice. Many Thanks, James Thank you for the e-mail. If You have a complaint, We will investigate it and give any redress to which We feel You are entitled. In order for Us to investigate Your complaint please send it to our [email protected]. If You are not happy with Our final response, You have a right to have Your complaint dealt with under the Financial Services Ombudsman Service at: The Financial Ombudsman Service South Quay Plaza 183 Marsh Wall London E14 9SR Website: http://www.financial-ombudsman.org.uk Consumer helpline: 0800 0234 567 (from a landline) 0300 123 9123 (from a mobile) Email: [email protected] Switchboard: 020 7964 1000 Fax: 020 7964 1001 -- Kind regards, Daniel Erma Peachy Collections Department http://www.peachy.co.uk [email protected] Actions James 7/10/13 To: Peachy Collections Picture of James Clearly you do not have an understanding of the law, i have not refused to pay and the bank does have the authority to cancel a CPA as well as applying for a chargeback. It is not your decision as to whether the debt is in dispute but the debitors, you have stated that even though i have contacted you it does not matter...it does, because you have refused to allow me to resolve this before the payment was due and are therefore using an admin error to profiteer from a debitor. You have also stated i do not have another payment method so you cannot cancel the CPA (which legally you have no right to refuse) however i have requested the company bank details so i can give a direct bank transfer, you have not provided this. Thank you for confirming that is company policy as it will only benefit my case when taken to the F.O.S As this is your final decision please confirm you are sending a letter of final response so i can register my complaint with the F.O.S. If you choose not to i will wait the 6 weeks required and the report it anyway. You have also yet to give me the procedure for registering a formal complaint, which i am still requesting. James Sent from Samsung Mobile Actions Peachy Collection​s ([email protected])Add to contacts 7/10/13 To: James Picture of Peachy Collections Thank you for the email. Your cancellation request of continuous payment authority is not lawful as this is a financial agreement. Please note that a continuous-payment authority is not covered by any bank guarantee and can only be cancelled by the business that holds the authority. Please note that the cancellation of continues payment authority does not free you of your obligation to make the payment and can be cancelled only when you have an alternative payment method in place or in case you have already made the payment. No payments have been wrongly collected nor disputed. We would like to draw your attention to the fact that even though you have contacted us prior your due date, it does not change the fact that you must have had funds available to repay your loan on the agreed date. Your loan is overdue and we are not obliged to provide you with any discounts at all, however we are still willing to settle your account with £50. If this is not suitable for you or we do not receive funds by Friday 12/07/2013 latest, offer will not be valid any longer and additional charges will be added according to our Credit Cycle until your balance is cleared in full or debt is forwarded to a debt collection agency. -- Kind regards, Alesja Tsernoseva Peachy Collections Department http://www.peachy.co.uk [email protected] James 7/10/13 Pleas confirm you are sending a letter of final response and that you hace removed your CPA from my bank card. Please also provide bank details so i can transfer the remainding £37.50 to your account Actions James 7/09/13 To: Peachy Collections Picture of James I contacted you 2 days prior to the debt being due via the contact us section of your website to which you failed to respond, I have explained why you were not able to contact me on the due date. As before i do not authorize any collections via CPA until this matter is settled, which by law you cannot refuse. Please sebd a letter of final response. Sent from Samsung Mobile Peachy Collection​s ([email protected])Add to contacts 7/09/13 Thank you for the e-mail. Please note on 29/06/2013 you were advised the amount repayable on 01/07/2013. We also sent you a remainder email and a text message before you loan was due. You did not make Picture of Peachy Collections Actions James 7/09/13 To: Peachy Collections Picture of James You were unable to reach me as i was working, this is the reason i contacted you BEFORE the payment was due to try pay with an alternative debit card. As you have failed to even acknowledge this fact in any of your recent correspondence, have chosen to previously ignore this in order to profit from an admin error and as you are refusing to remove the additional charges, I am officially stating for legal purposes that this debt is now in dispute. As such, I demand that any CPA's (continuous payment authority's) are cancelled from my debit card and any method of collection from my bank will now be deemed as fraudulent. I will be sending a copy of this to my bank, and any moneys taken from my bank account will be recovered through a Charge-back procedure. I am also making you aware that any communication through door collection visits/telephone calls will be deemed as harassment and any correspondence can be posted or emailed to me. If you wish to pass this over to a debt collection company they will be informed with the supporting evidence that they have taken on a debt that is currently in dispute and requested that the debt is returned to yourself wherein a further complaint will be made to the OFT Furthermore due to your inadequacy, lack of empathy and failure to follow current guidelines I will be reporting your company to the OFT for this breach of guidelines. I shall also be making MP Stella Creasy aware of the way you handle your customers and request that you provide the correct information in order for me to make an official complaint to your company, as well as providing a "Final response/Letter of deadlock" (if this is your final decision) in order to make an official complaint with the financial ombudsman service. Merely ignoring the contents/evidence that I have provided within the emails and repeating "£50 settlement figure" as a reply is totally unacceptable. Below you will find exact guidelines set out by the OFT to be followed by all Consumer Credit License Holders for your consideration: Section 2.2: - treat debtors fairly – debtors should not be subjected to aggressive practices, inappropriate coercion, or conduct which is deceitful, oppressive, UNFAIR or improper, whether unlawful or not. -exercise forbearance and consideration, in particular towards debtors EXPERIENCING DIFFICULTY – we would expect businesses to WORK WITH debtors with a view to providing them with reasonable time and opportunity to repay debts and, where appropriate, to signpost them to sources of free independent debt advice. -establish and implement clear, effective and appropriate policies and procedures for engaging with debtors and other relevant parties, including having appropriate mechanisms for RESPONDING TO REASONABLY QUERIED and DISPUTED debt. These are the guidelines from section 2 of the OFT guidelines in which you are in breach, further breaches in guidelines within section 3 can be highlighted on request, however if you are struggling to find the information please refer to: http://www.oft.gov.uk/shared_oft/consultations/OFT664Rev_Debt_collection_g1.pdf Or you can got to the OFT website and manually search for the guidelines, Yours sincerely, James Actions Peachy Collection​s ([email protected])Add to contacts 7/08/13 To: James Picture of Peachy Collections Thank you for the email. We have been trying to contact you on 02/07/2013 (the next day after your due date) and unfortunately were unable to reach. As was stated previously, the minim repayment amount we are willing to accept is £50. -- Kind regards, Alesja Tsernoseva Peachy Collections Department http://www.peachy.co.uk [email protected] Actions James 7/08/13 To: Peachy Collections Picture of James As previously stated you chose mot to contact me until after the bill was due even though correspondance was sent on the 29th of june. As a result of this you have allowed me to default and applied charges INSTEAD of contacting me prior to the payment which would have resolved the issue. As this is the case i refuse to pay any additional charges the amout due to be paid back was £62.50 I am unwilling to pay a total of £75 when you have deliberatly ignored me in oder to gain profit. Please either agree to drop ALL additional charges on the account or provide a letter of final response so i can register my complaint with the FOS and OFT Sent from Samsung Mobile Actions Peachy Collection​s ([email protected])Add to contacts 7/08/13 To: James Picture of Peachy Collections Thank you for the e-mail. The £25 that we have been able to collect is already reduced form the balance and the remaining balance is £89.50 and as stated before we are willing to accept £50 to settle your account. -- Kind regards, Daniel Erma Peachy Collections Department http://www.peachy.co.uk [email protected] Actions James 7/08/13 To: Peachy Collections Picture of James Please confirm that i am only due to pay £25 as a settlement figure as you have already debited £25 from my account Sent from Samsung Mobile Peachy Collections wrote: Thank you for the e-mail. Please be so kind and provide us with the exact date on which you will be able to repay your loan and we will then be able to calculate the exact amount to be repaid. Please be advised that we follow strict policy procedures determined by our Credit Risk Committee and therefore we cannot freeze your loan, additional charges and interest. However, we are able to make an exception this time. Once you have provided us with the date on which we can expect the payment, we can negotiate with our Credit Committee to see if we could write off some of the additional charges. Until that, our system is automatic and still tries to collect the full amount and also additional charges and interest will be added. -- Kind regards, Alesja Tsernoseva Peachy Collections Department http://www.peachy.co.uk [email protected] On 3 July 2013 17:15, James To whom it may concern. > I have used the contact us section of your website on the 29th to inform you > i cannot access my online account nor can i text the 5-digit number to > retrieve the password. I have a screen recording program and have video > evidence of this being sent as companies tend to 'lose' these > communications. You have failed to contact me and have instead allowed a > default on my account which breaches OFT guidelines, as you are using an > admin error as an excuse to apply charges and gain a profit. Please provide > information on how to reset my password without texting the 5-digit number. > I also do not deem the additional charges applied as justified due to your > lack of response and request that they are removed immediatly, failure to do > so will result in an official complaint being made to both your own company > and the OFT. James > > > Sent from Samsung Mobile Actions James 7/05/13 To: Peachy Collections Picture of James As you have already taken £25 from my account i am under the impression that i am only due to pay a further £25 Sent from Samsung Mobile Actions Peachy Collection​s ([email protected])Add to contacts 7/05/13 To: James Picture of Peachy Collections Thank you for the e-mail. The current outstanding balance is £76.00. As an exception, we would be willing to accept £50.00 as the final settlement payment. Please confirm if this is suitable for you, in order to finalize the arrangement. Until that, our system is automated and still tries to collect the outstanding amount and also additional charges and interest will be added for the overdue time. -- Kind regards, Karen Randoja Peachy Collections Department http://www.peachy.co.uk [email protected] Actions James 7/04/13 To: Peachy Collections Picture of James The paymebt can be made immediatly on the condition that the charges are removed and any additional charges are removed Sent from Samsung Mobile Actions Peachy Collection​s ([email protected])Add to contacts 7/04/13 To: James Picture of Peachy Collections Thank you for the e-mail. Please be so kind and provide us with the exact date on which you will be able to repay your loan and we will then be able to calculate the exact amount to be repaid. Please be advised that we follow strict policy procedures determined by our Credit Risk Committee and therefore we cannot freeze your loan, additional charges and interest. However, we are able to make an exception this time. Once you have provided us with the date on which we can expect the payment, we can negotiate with our Credit Committee to see if we could write off some of the additional charges. Until that, our system is automatic and still tries to collect the full amount and also additional charges and interest will be added. -- Kind regards, Alesja Tsernoseva Peachy Collections Department http://www.peachy.co.uk [email protected] he paymebt can be made immediatly on the condition that the charges are removed and any additional charges are removed Sent from Samsung Mobile Actions Peachy Collection​s ([email protected])Add to contacts 7/04/13 To: James Picture of Peachy Collections Thank you for the e-mail. Please be so kind and provide us with the exact date on which you will be able to repay your loan and we will then be able to calculate the exact amount to be repaid. Please be advised that we follow strict policy procedures determined by our Credit Risk Committee and therefore we cannot freeze your loan, additional charges and interest. However, we are able to make an exception this time. Once you have provided us with the date on which we can expect the payment, we can negotiate with our Credit Committee to see if we could write off some of the additional charges. Until that, our system is automatic and still tries to collect the full amount and also additional charges and interest will be added. -- Kind regards, Alesja Tsernoseva Peachy Collections Department http://www.peachy.co.uk [email protected] Actions James 7/03/13 To: [email protected] Picture of James To whom it may concern. I have used the contact us section of your website on the 29th to inform you i cannot access my online account nor can i text the 5-digit number to retrieve the password. I have a screen recording program and have video evidence of this being sent as companies tend to 'lose' these communications. You have failed to contact me and have instead allowed a default on my account which breaches OFT guidelines, as you are using an admin error as an excuse to apply charges and gain a profit. Please provide information on how to reset my password without texting the 5-digit number. I also do not deem the additional charges applied as justified due to your lack of response and request that they are removed immediatly, failure to do so will result in an official complaint being made to both your own company and the OFT. James

Hi All, I'm a newbie to this forum in that I don't think I have posted anything before, although I have found the advice on here pretty useful in the past - so thank you. I have multiple payday loans and I am successfully clearing most of them in the next couple of months. I have been doing this by effectively only paying them what I can afford and getting them to stop applying additional interest. This is working / has already worked for three of these companies but I have a real problem with one of them who goes by the name of Mr Lender - they are part of PDL Finance. I was due to pay them either £100 in order to rollover the loan or £500 to repay the loan in full (£400 being the original loan amount)on 20th October. My intention was to pay them slightly more than just the interest charges but not the whole amount. Unfortunately, one of the other creditors took out more money from my account than I was expecting (my own fault - I had misread that creditor's correspondence) and so when Mr Lender tried to take the money from my account the payment failed. On the day the payment failed I had numerous telephone messages from Mr Lender, a couple of emails and numerous text messages. I didn't want to speak with them until I could see where the other payments had gone, and my online bank statement was not up to date as some of the other payments had gone out via debit card. On the day after the due date, they repeatedly phoned my work, my mobile and home phone. Getting my voicemail each time, they then started calling random extension numbers at my work, until they eventually got through to my boss who called me to her extension to take the call - this was extremely embarrassing - especially as the two or three people that informed me at work that these guys had spoken to them all said that the people they spoke to were incredibly rude. I spoke to Mr Lender and said I would write to them to suggest a payment plan in the next two days or so - their rep said that this was not acceptable and that I have to deal with them over the phone - she said she would put me through to someone who could help me . . . . when I spoke with the next representative, he started by saying that he would help in anyway possible; I said that I would pay on or before 19th November (i.e. 30 days after the original due date) in full - in other words the full £500. He said that I had to make a proper payment immediately and that this offer was not acceptable as, as he put it, "we are not a charity". He said if I didn't pay I would incur charges of at least £175 before 19th Nov. I said I thought that that was excessive and unfair, but that could he please put their position in writing. His response was that he would email me, and I said I wanted a letter, to which he said that they don't do that. I should add that whilst their Ts&Cs make some mention of charges for late payment they definitely do not equate to £175 in a month! I asked this representative repeatedly to put their position to me in a letter, and he kept saying that they would not do so. So I wrote to them stating my position, that I would happily pay a maximum of £512 (£12 being what I would perceive as being reasonable admin charges for the late payment), on 19th Nov. They stopped calling me last week, but I have not received a written response from them yet. However, the next thing I know is that I get a text message saying they are sending me a default sums in accordance with the consumer credit act 1974. I then got an email (not a letter) stating that in accordance with the CCA 1974 I owe them £570 - no OFT fact sheet was included, not even as a PDF. So, sorry about the very lengthy post - but can anyone tell me: a) Do I have a right to insist that they state their position and all correspondence in hardcopy form? b) Are they allowed to call my work and guess at extension numbers - as there is no way they would have spoken to my colleagues in other departments otherwise! c) Can they serve a default sums notice by email? d) Should they not take a commercial view as I've used their service for months, and a cost of at least £100/month - if they add all these charges, then they loose the business e) If I pay them the £512, can they actually chase for any additional sums that they think they can? f) Am I missing anything - is there anything else I should be doing in terms of my dealings with them? Thanks all for your help, and again sorry its such a lengthy post

Hi, I got a loan last year with CFO and was unexpectedly made redundant a month later. I went with a debt management company as I was getting no where trying to stop the interest and arranging a repayment plan. I have been doing this since last August and everything has gone well. Until last Thursday CFO took £300 out of my other bank account as a card payment. I have never ever given them my card details or account details. I am also not sure if it is for my loan or someone elses. I am wondering what my rights are here as I have never ever given them permission to use my TSB account. The one I used with them was Natwest. Also what should I do?

Hello Firstly I am new to this forum but have used it to get through my 2 years of hell and thought I would give something back. I am not offering advice but just an insight into how some of the big companies are likely to respond to you defaulting. My debts were Wonga £1200 PayDayUK £590 Swift Sterling £390 Payday Express £349.50 1 Month Loan £325 Moneybox247 £200 Cash Genie £190 MiniCredit £120 TxtLoan £117 A grand total of £3481.5! I won't go through the story as its over 2 years worth but the fact is I got to this point at one stage. Wonga - As soon as I defaulted they sent an email offering me to pay over 3 months (£400 a month), I replied that that was unaffordable and offered to pay over 8 months (£150), which they accepted no fuss. All that was added was three days of borrowing for the time it took to sort out. PaydayUK - Not so friendly and very persistent, debt was passed to Keyes Whitlock and small charges added, debt went onto CCCS DMP and they have been no problem. SwiftSterling - Didn't receive one phone call or letter, debt went on CCCS DMP and no interest or charges added. Seem a very laid back company. PaydayExpress - Took around 3 months before they responded to me, only interested in adding charges (albeit small), eventually they sent a letter saying they will only accept a payment plan if I was ill or dead. Replied saying its thats of nothing and they accepted £50 per month. 1MonthLoan - Went on CCCS DMP, no contact from 1MonthLoan and debt was eventually passed to Roxburghe, they have managed to double the debt and this is now in dispute. MoneyBox247 - Basically said make me an offer and I offered £40 a month which was accepted. CashGenie - Strange company, but pleasant, offered a payment plan outright and asked me for £40 a month as minimum payment, just to be awkard I offered £35 a month and they accepted. Again no interest or charges. MiniCredit - Read many bad things about this mob so just paid them off. Just give them their money. TxtLoan - Received no communication and they are on a CCCS DMP. So just to sum up, im the last person to offer advice but hopefully this will put some people at ease, most are open to payment plans. At the end of the day they just want their money. Be nice and don't strees. As of today I owe Payday Express £250 (I was stupid enough to use these a few months back when I was doing well) Cash Genie £50 PaydayUK, Swift Sterling, 1 Month Loan and TxtLoan £790 left on DMP. Just £1090 left! I made the mistake of agreeing a plan with Wonga but rolled over the others which is why the Wonga one is already paid. Looking back I should have done all at the same time but I was too scared to default until I had no choice. My only advice is to get help, don't make my mistake of being scared and forcing yourself to believe you are in control and you can manage. There is pressure on these companies to help you. NB - I would seriously recommend seeking advice from CCCS or Payplan before you default and follow my lead. As stated I had these debts for 2 years, therefore I had already technically paid back the loan with interest, i'm guessing that most of these companies saw any extra as a bonus. I'm guessing they will respond differently if you have had your loan for a short period or paid back very little so far.

Hi I'm in the process of entering into an IVA (proposals in post to creditors) so I have stopped paying my creditors including a few payday loan companies that I have. I wrote to my bank last week and told them to cancel all continuous payment authorities to these companies and cancelled my debit card. Yesterday MonkeyDosh took 187.50 out my account on my old cancelled card. I rang the bank and informed them that I had cancelled the CPA and blocked my card yet they still took the money, so Barclays cancelled the card payment and credited it back to my account and informed me to take it out before they tried to take it again, which I done. I've taken a look at my accout today and it is 187.50 over drawn (I dont have any overdraft facilities) so I rang the bank and informed them. They said they could put a request in for this to be cancelled and returned, but there is no guarantees that it will happen and I wont hear nothing for 48 hours. Are the bank even allowed to do that? Even though they admitted yesterday that they knew I had cancelled the CPA with them in writing and credited it back to my account. Plus, how did MonkeyDosh manage to take the payment from my card when my account had no money in? Thanks for any replies in advance M

Hi, I am looking for some information on where I stand regarding an unauthorised overdraft. In November last year I took out a short term loan with Wonga in the amount of £420. I then ran in to financial difficulties and knew I would not have sufficient funds in my bank to cover the repayment due to come out. Therefore to avoid making matters even worse I cancelled the direct debit to avoid receiving charges for having insufficient funds to cover the direct debit. I was under the belief that it would then be for me to arrange repayment with Wonga. However, on the repayment date, Lloyds TSB allowed Wonga to debit three sums in total, two in the amount of £10 and one larger for £288.50. As there was nothing in the account at the time the transactions put me £300 in to an unauthorised overdraft. The full amount of the loan was in excess of £450 so the full amount was not allowed to be debited, just enough to put me in to a large unauthorised overdraft and leave the loan unpaid for some reason. I should also note that at the time Lloyds allowed these debits the only income in to the bank was benefits. In addition when I was working I had applied numerous times for an authorised overdraft with Lloyds TSB only to be rejected on each occasion. I did not want the unauthorised overdraft and it is clear I could not afford it at the time and I had been rejected for an authorised one. I am now receiving letters from solicitors demanding full repayment. Is there anything I can do? Any advice would be greatly appreciated. Thank you.

Hi All, Have been reading alot of the threads on here and really appreaciate the information provided. I am in a bit of bad situation, I have about 6 different loans with different paydayloan companies. The higher amounts are with QuickQuid and PaydayUK around 6-800, and smaller amounts with other companies. The first two were taken out just before and after Christmas, at which point I lost my job and had to find another. I rolled over the two loans, which bled all of my wags and wa really struggling day to day. I therefor had to take out other payday loans to both cover the cost of rolling the higher loans over and pay for food petrol etc. I now have a new job but wont be paid a full months wages for another 6 weeks. I'll be recieving a small amount on my next payday but will need the money I do recieve to live and get to work over the next 6 weeks. It looks as though I'm going to default on the payments of all the loans at least until I get a full months wage, but even then I will need to ngotiate smaller payment amount sas I simply can't afford to pay them all of at on time. Does the fact that I was taking out multiple loans to cover charges and live until the next payday mean that my actions were fraudulent? The reason I left my job was that my hours were being cut because I had complained about being forced to do overtime to cover for people on new yars day, after being promised time off due to working overtime to cover for people on Christmas and boxing day. I was being treated unfairly so walked out and started looking for another job immediately, but having read other posts on here I hear that some payday loan companies ask for written proof of your financial hardship ie, letters stating change in hours etc, but as I walked I wouldnt be able t provide this. Also I have read that companies can threaten to take you to court for not providing a reasonable reason and proof of this for not paying the loan, stating that taking the loan without the ability to repay it is fraudulent. I am really worried about how to proceed. Any advice really appreciated.

Hi, I am a new user to this website and have found some of the posts extremely helpful. Unfortunately I found myself sucked into the pay day loan trap and ended up borrowing more and more in order to pay off other debts. I am in the process of setting up repayment plans with my creditors and most of the lenders have been happy to accept my plans. I have received numerous email and phone calls from Northern Debt Recovery regarding on of my pay days loans stating that they have taken over the debt. I have agreed a payment plan of £75 per month in order to pay off this debt but noticed that they have added considerable fees and charges on top of the original loan amount. My question is, is there a limit to the amount of fees and charges they are allowed to add onto my loan amount, and is there any way I can reduce the amount payable? Thanks

Hi, I've been following this site for a while as I'm currently going through a bit of financial realignment in my life. I liked the look of it because most the responses on Money Saving Expert seemed to be along the lines of "I told you so - you deal with it!", whereas these actually seemed informed and not judgemental. Foolishly I had nine payday loans and the continual rolling, reloaning etc all got a bit too much for me - a lesson lived is a lesson learnt and all that. I contacted Debt Line (I should have used CCCS in hindsight) who arranged my payment plan with the creditors - currently it all seems to be going to plan with the creditors (some of who I expected real nastiness from) except for Toothfairy Finance. I took a loan of £200 for a month (£276 with interest) and defaulted - the debt has now been upped to £760 since they "passed it on" to Northern Debt Recovery. After a bit of research on here and other sites I continued to question every email they sent me and they continue to tell me that all their charges are legal and proportionate and that anything that I have read including the OFT are not accurate and should not be trusted. I copied the OFT in my final email response and surprisingly I've had nothing from them. I also asked in my last email (probably foolishly) what their involvement with Marshall Hoare was - no response about that but then coincidentally Marshall Hoare began to leave me voicemails and threats of "fast tracking a CCJ". I did top this off with what their involvement was with a director with firearms convictions was - apparently that's not true either though the internet says otherwise. The final straw came when one of the multiple voicemails said that "because we can't reach a conclusion via email perhaps you'd like to phone us" - no chance. Basically I would assume I'm looking at another £200 on top of this current debt as no doubt NDR will "pass" it on to Marshall Hoare - for the time being I'm playing hardball by refusing to deal with them via phone and keeping the OFT and Credit Direct in the loop, it seems Debt Line only want to deal with them when a final figure is reached and don't look to be sorting that themselves (that seems like a bit of a waste of money too!) - what I'd like to know is, does anyone know of anyone actually being taken to court by any of the above and has anyone fought to pay the actual debt and not the make believe one they've instilled against rules set by the OFT? Thanks!

I currently have a number of payday lenders and have been through the mill borrowing to cover interest, cancelling direct debits for council tax, on a continuous cycle. Eventually just snapped and decided to contact each of my lenders to advise of financial difficulty. Simply couldn't go on any longer paying interest and reborrowing, and now have final demands on council tax and the likes - danger! Mr Lender - Cannot believe how understanding they were, plan agreed immediately Lending Stream - A couple of useless customer reps on the phone but in the end 11 month plans agreed! Payday Express - Told me I didn't meet their criteria of 'hardship' over the telephone despite my ignored emails. Told me that someone would need to be dead, and I would need to have no money for a funeral and no job! Enraging! I quoted a few pieces of recent legislation and requested that they refrained from trivialising my circumstances, then challenged them on their right to define the word 'hardship' and asked whether the feel that in court they would be sided with, and accused them of attempting to manipulate standard terms to avoid current lending codes of practice. They then 'as an act of goodwill' offered me a repayment plan and told me they were always looking to learn from these experiences. So in the end I have an affordable plan. I was quite worried when I saw all the terrible dealings people have been having with this company. Wonga - Very professional and helpful TxtLoan - Also excellent in helping PaydayUK - Very professional in helping too I now need to try and sort something with 247moneybox - anyone had any dealings with them? I'd be happy to spread my loan over the next 4-5 months to clear it. Come March/April I will finally be out of this eternal loop. I have been trapped in th cycle for about 18 months. Nasty!

Today I received a letter from Appleton Massey stating that I owed Northern Debt Recovery £714, after taking a loan of £200 out with Toothfairy back in April. Unfortunately, I had to quit my job not long after taking the loan, hence my being unable to repay. I called the number on the letter, which put me through to Marshall Hoares (when I said I was confused by all the companies involved, the man on the phone became very aggressive indeed, glad I recorded the call!), anyway, I asked for a statement of the account which he ‘emailed’ to me (haven’t had it – funny that). He explained later in the conversation that they have the ‘complete right of law’ to add all the charges that they have done, and told me ‘when you signed the agreement, in the terms and conditions it says blah blah blah’... As he sent the email twice, but I didn’t receive it, I made him read out the charges; 26/4 - £36 10/5 - £36 25/5 - £36 24/5 - £10 7/6 - £200 7/6 - £10 7/6 - £150 7/6 - £36 20/6 - £36 I informed him that as a student, I will only be getting my loan in September, so cannot make payment. He said they could accept £400 today, £200 per month for £600 or £100 per month from 1st July totalling £700. He then went on to say that he was going to refer my case to the fraud department as he did not believe that I was working at the time of my taking out the loan, as he had asked me when I finished my job and I said I wasn’t sure, eventually getting out of me ‘I don’t know, middle’, to which he replied ‘well that would have been between the 17th and (whenever), and you took this loan out on 28th.’ My last day of working was actually the month AFTER I took out the loan, I have realised. Can they *really* add on all these charges?! They are difficult to get in touch with, and I don’t usually make calls to such people, but they are saying that they have made calls, sent emails and text messages, none of which I have received in the first place!! Any advice on the matter will be muchly appreciated!

Hi. I received a payday loan from Cash Converters a couple of months ago. I set it up so that I would come into the store and repay the loan and interest when my DLA was paid into my bank account... They said that they would need my card details to check that the bank account and card were indeed mine, by taking a couple of pounds out and then replacing it. They also said that they could also take the repayment as a debit card transaction, if I fail to pay, or I instruct them to. I won't give all the ins and outs of what happened, as I don't want to bore everyone to death, but to cut a long story short, I forgot all about the loan and my debit card expired. I assume they tried to make a debit card withdrawal, but the card information they had was "old". I then woke up this morning, checked the bank to see if this months DLA went in, and am confronted with a £130 Direct Debit! I can't remember saying to Cash Converters that they could setup a Direct Debit to my bank account, which the bank said was setup this morning! I telephoned my bank to ask what was going on, as I can't see what has gone where 'til the following day, and they cancelled the DD and said my money should return to my account by the morning. What I am wanting to know, is if they, or any other company, can set up DD's without consent? or is there something in the small print saying they can? True, I owe them the money, and my personnal circumstances is not of interest to them, but I now feel that they can wait for me to pay, as they "Burgaled" my account! Can anyone tell me the legal side of what has happened, or is it well known they can dip into your account when they want? Ta muchly!

Hi, has anyone been able to set up a payment plan with 1month. Original Loan Amount: £450.00 Initial Interest: £135.00 Further interest added (as a result of default or entering onto a repayment plan): 2 X standard interest: £270.00 TOTAL BALANCE REPAYABLE: £855.00 How can they justify this added interest after I have mention I have hit serious financial hardship as they are not the only one I have a loan with? No-one else has done this? Help please how do I counter this?

Hello! I applied for a payday loan at Capital Finance One and received 300 pounds for the cost of 117 pounds. When it was supposed to be paid back I was given the option to defer the loan by paying the 117 pounds. Later I added 140 pounds on two occasions and I have now had to pay back in total 1605 pounds for a loan of 580 pounds over 3 interest periods. Essentially what is going on is that I have paid the interest, but it's never deducted from the balance when you defer it. They admitted on the phone today that I could have paid it off and reapplied again in order to avoid these fees. My question is, if I have signed one of these agreements (obviously not reading it properly), can I somehow go anywhere with this complaint and get some of the money back that I believe I overpaid, even by payday standards? Why is the interest paid not taken off the balance when deferred - it's unreasonable and I don't know any other company that has charged me in this way? Kindly some advice please.

Hello, I am in the process of setting up DMP for my payday loans. I have had a reply from Text Loan advising I would owe £554 instead of the £350. What should I do? The email as follows: Dear Richard, Thank you for contacting us. If you require a repayment plan for a period of time exceeding the 60 days of our credit cycle, the full overdue balance to be repaid will be £554, which is fixed as after 60 days the interest and charges are frozen. We are prepared to accept £15.95 monthly payments. Please be so kind as to provide the exact dates we can debit your card, or set up a standing order. -- Kind regards, Adrian Young Client Account Manager Any ideas of what I should do? Should I just pay the £550? Or shall I contest the amount? thanks