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  1. in December i borrowed some money for 247 money box, the loan with interest came to £288 and was due to be re-payed 26.1.16. on the 26.1.16 i received a email from 247 money box saying my payment had been received, so i thought no more about it. in February i took another loan for a much smaller amount, which i paid off in full at the end of the month - now as far as im concerned my account is settled. today i received a email saying they haven’t received payment in January for £288 and i will need to settle this on my next payday (in 4 days time) i have now checked my bank and despite the email from them confirming payment, and the funds being available they didn’t take any money.. can they just demand payment in full with such short notice? I have not budgeted for this and this will cause some problems for me, having done some reading tonight, I’ve come across some very worry stories about this companies collection practices. any advice how to deal with them would be greatly appreciated
  2. Payday loan charges cap announced by FCA http://www.bbc.co.uk/news/business-30000472
  3. Hi, I took out a loan with this company (CFO Lending) about 2 and a half years ago for £300. To cut a long story short, I paid them back a few times, but kept taking out another loan and then rolling over the interest. This was cycling out of control, so I decided to default and pay back loan + interest for one month and rid myself of this company. I did this, and paid back one month interest plus initial loan of £300 and told them this was settled. They wouldn't accept this and said the loans was in the region of £1700. I then chose to totally ignore them from this point as they were impossible to deal with, I also changed my card. A few months later, they took about £600 from account unauthorised using my new card details (must have got them from another site or something). I still did not want to contact them as knew it was a waste of time. Changed my card again, and instructed bank to not pay this company again, and any transaction to them would be fraud. Two years later, I have not had any more money taken, but still receive sporadic texts of varying threats. Today I have received one stating that they will be coming round my house and specified a date and time. Thought I would get some advice to see if should contact them or not. I have paid them back over a £1000 for a £300 loan, of which £600 was taken against my will using card details I had never provided them. As far as I am concerned the debt is more than repaid and they are basically XXXXXXXXX. I would love to stop receiving the messages and would like to clear this matter up properly, but can live with it if I know none of the threats to be true, and I really do not want to contract them in any way, as I feel this is asking for more trouble. Any advice would be much appreciated. Scott
  4. I took a payday loan from Capital Finance One Ltd in July 2011. The loan was £200 and the total repayment was agreed at £278. I did not wish to pay £15 for same day 'faster payment' so the loan finally credited my account 2 days after being issued. The loan was issued on 4th July 2011 and I initially agreed to repay on 29th July 2011 when my salary was paid. On 21st July 2011, I emailed CFO to ask to change the repayment date from 29th July to 4th August 2011. I explained that I had paid interest for a full month and repayment on 4th August 2011 would, therefore, still be within the agreed 'one month' time limit. CFO did not respond until 29th July 2011 when they emailed a 3 lined message to tell me that I had 'defaulted' on the agreement. I immediately replied with a full explanation that I had not defaulted. CFO emailed the same message on 3rd August 2011 and on 4th August 2011, when I fully expected CFO to debit £278 and close the agreement, CFO took £128 which they said was 'charges for 3 defaults'. Emails were traded back and forth. I disputed these charges and even pointed out that the notices they sent me to notify of my alleged 'defaults' were completely invalid and did not comply with the Consumer Credit Act stipulations. I ordered CFO not to take any further monies until we had resolved the dispute. I also gave written cancellation for any authorisation CFO may have had to 'CPA' my account. ie not to debit what they wanted - when they wanted - without the need to inform me or seek my approval. CFO then debited 3 x £25's from my bank without my approval or authorisation. I wrote to CFO to say that they had now taken £203 and had taken £75 unlawfully. I told them that the agreement was in my opinion 'settled and closed'. CFO wrote to me once more to state that I still owed them £200 (how they calculated this figure, I don't know...) and that they would report to credit agencies that I was 'in default'. In April 2014, I made a payday loan application for £200 from CFO Lending Limited. I didn't know that Capital Finance One Ltd had changed their name in 2012, but I'd be lying if I said that I didn't have a pretty good idea that they were one and the same company! However, I was skint and had repaid £203 for the £200 loan in 2011. My application was rejected immediately. I had 'ticked' the box which denied CFO Lending to keep for themselves or pass on my personal details. I had submitted details of my new Nationwide Building Society (set up in 2013) account as part of the loan application. I had to give my debit card details so that, if successful, the loan could be collected from a named account. When rejected, these details should have instantly been erased by CFO Lending. However, CFO Lending waited until 11th June 2014 and made 5 separate debits from my bank for a total of £495.65. It took me a day to put the pieces together with the help of my bank 'visa dispute' team. I could not believe that CFO Lending had used information (which had only been submitted as part of a failed loan application and should have been deleted) to take £495.65 from my bank account without any authorisation, approval or even notification. I spoke at length to Ms Susie McKenzie in CFO Collections who said she would get back to me quickly. I had to wait nearly a week before I received a formal response. CFO stated that all of the debited money was to repay the outstanding loan from July 2011. CFO Lending had already taken £203 from my account in 2011. The last email they sent in 2011 told me that I 'still owed £200' (which I disputed completely). CFO had taken a further £495.65 on 11th June 2014. Therefore, CFO claimed that my £200 payday loan cost £698.65 to repay! CFO Lending claimed that the bank details which I had submitted as part of a rejected loan application to them in April 2014 could be used by them to recover any monies relating to the agreement we had in July 2011. They claimed that the Continuous Payment Authority set out in the 2011 contract justified this. I spent hours in collecting every email and document relating to my dealings with CFO from 2011 onwards. My response included a copy of the vital email which I sent to CFO on 24th August 2011 in which I ordered them to 'stop taking any further money from my account until the dispute is resolved satisfactorily. Any authority which Capital Finance One may have had is cancelled with immediate effect. You (CFO) have taken much more money than we agreed. Do not debit any more money from my bank'. I also set out why their defaults were invalid and why these huge charges could not be applied as they were never discussed or explained at the outset. I have a very strong and complete argument as to why CFO's actions are unlawful and why they must return all monies taken AFTER I cancelled the CPA and ordered that they make no more transactions on my account. CFO has failed to respond to this letter or any of the 6 I have sent them since. I sent a 'Final Demand' and they have not met the requirements within. Nationwide Building Society is investigating these transactions as 'fraudulent'. I have been able to make a formal complaint to 'Action Fraud'. Nationwide has advised me that THEY will report to the Police as this is their responsibility. I must now make a claim for the money using the CCMCC (county court money claims centre). I am determined to make the most of this opportunity to show the public just how payday lenders work. My case is very strong and legally sound. However, I am afraid that I will slip up in its execution by making an administrative or process error. Thus enabling CFO Lending's solicitors to have the claim 'dismissed' on a technical point. I have been 100% honest and open in my account of this matter. I have had to use a payday loan company because my credit history is not great. I did know that they have a reputation for difficulties. I repaid £203 for the £200 loan in 2011. I know that I should have patiently resolved the dispute then and paid off the remaining £75. CFO Lending still doesn't have the right to treat any customer like this. This 'CPA' justification is wrong and is completely unfair and dangerous. I want to make payday lenders change their working practices with this claim. I am not pretending to be Florence Nightingale. I have credit problems but I should not have to repay £700 for a loan of £200 - this is wrong. So, if anyone out there could please offer practical or legal advice which will help me make my claim more effective, then please get in touch. If you need any further information, let me know.
  5. Hi i was hoping someone could help? Yesterday I went to check my balance and could see that there was money missing from my account. I went into hsbc and on their computer there was pending transactions of £194 from cash genie and 140 from ariste holdings a company I have never heard from. I did owe cash genie money but after contacting them I advised them i would be in touch to repay at a later date due to being off work and self employed. They accepted this. I rang hsbc from within the branch and was told nothing could be done until it shows as cleared. I cancelled my bank card as I was told to and told them to cancel all future payments to theses companies again was advised by a worker of HSBC. What i want to know is ive never gave either of these companies my bank details so how have they got them? Can I do chargeback as this money was my rent so need it back asap and as I cancelled my bank card is chargeback even possible. Any help with this matter would be appreciated as im extremly worried if i dont get this money back that I will be in trouble with my rent and as i have no money coming in for a few weeks due to being off work how will I be able to cope?
  6. I have 6 payday loans, About £2400 in total wonga mini credit speed credit payday express liquid advance lending stream obviously its now about £4000 due to all the interest I was with a debt managment company but due to my financial situation i cannot afford to pay them and have stopped My question is.. I'm due to move house shortly can i just move and put all my house hold bills in my wifes name and change bank and change my phone and just sort of go off the grid? I know it sounds drastic, and to be fair when we move i will have about 12k to be able to pay them all but i'm just a bit ****ed off with thinking i'm going to have to pay all that over the top interest would they just eventually just give up? actually i dont mind going to court either if it came to it. I've never on this site ever read that they have taken anyone to court! has anyone truly been taken to court over non payment? afterall people seem to forget we are talking "small" claims court on a funny final note, has anyone phoned the northern debt recovery line? does that guy on the recorded intro sound like the sith lord from star wars lol " wee willl fasst traack yourr debbts throughhh thee coouurts...." oh really sigh* my wife will take over all bills i will have nothing in my name and diff bank accounts and new address im self employed could this actually work? even if it didnt and they eventually cought up with me i would just plead ignorance and say i forgot when i moved to inform as i forgot who i owed, anyone know if this could work?
  7. Hi all,I hope I have placed this in the right forum. I am seeking advice to a problem almost identical to the below thread:"Payday loans and credit files. Hi all I hope you can help me please with my new quest.I am in the process of rebuilding my credit report after being really really stupid in the past but all is well now, just got 2 defaults and they will be off next year. YEY!Anyway I have been taking out small payday loans from PDUK after reading this on there website,
  8. Hi, I'll post properly about my own little PDL mess in a moment, just frantically searching for a template... I've seen it somewhere - QQ phoned me at work today. The only number for my work is a shared line - I never answer it, it goes through to the enquiries office. Can I request they remove that number from their databases? Having a small panic attack.
  9. Has anyone used Swift Payday Loans UK? I found there website. (Edit) I found them the other day, the application form seems secure so was just wondering if anyone has tried them? Thanks.
  10. Hi, I have been looking at the pay day loan forums for the last few months as like many of you I've got myself into terrible problems The main issue I have had has been with Minicredit, who are incredibly difficult to deal with. I have had an outstanding balance with them since September last year and now the total amount I owe is over £1000. From looking at previous posts from other Caggers, I have seen that Minicredit do not negotiate with debt management companies (I am currently in a DMP) and are quick to issue CCJ's. Now the last letter I had from them was stating that it was the final chance to pay before they started legal action. I had manage to come to the agreement with them that I would pay the original loan amount and original interest which was about £520 but explained that I couldn't pay in one go. They then rejected my offer to make 4 payments to total the £520 and since then they have gone quiet. I was preparing myself to receive the CCJ when I get a call from Fredericksons debt collection agency saying that they are acting behalf of Minicredit and did I now want to make a payment. I explained to them that I was in a DMP and gave them contact details of the company and they haven't bothered me again since. Now I am wondering if Fredericksons are going to try and take me court instead?? My DM company said that they negotitate with them all the time so they are likely to accept the repayment plan but this all seems completely out of character for Minicredit given the way they are known for behaving. Has anyone else had a similar experience in that Minicredit have sold the debt on and you've been able to negotiate? I'd be really interested to know!
  11. Hi guys, I'm wondering if anyone can help me with a toothfairy problem. I've had a number of payday loans that have become a problem in the last month or two. I've contacted all of them and come to a reasonable conclusion with all of them excluding Toothfairy. I've contacted toothfairy a lot of times both before and after the default. The outstanding balance on my due date was £544. I offered a repayment of £50 a month and on the due date I made the first payment of £50.00. Since then I have received a number of texts and emails from toothfairy, NDR and now Marshall Hoare debt collection all of which seem to be a part of Toothfairy. Up until today each time I contact any of these people I have had an automatic system response saying that payment plans are not acceptable and they want payment in full. This morning however I have received an email from Marshall Hoare saying that they will accept a payment plan of £150 a month. The problem is however that instead of it being for the £544 I originally owed them it is now for £1,090 which if you include the payment of £50 I have already made them is now over double what I owe already. I've made a complaint to NDR which they have said they will respond to within a month however in the mean time I'd like some advice as to what happens next from anyone who has had dealings in the past. I assume if this goes to court then I can argue about the unfair fees however I'd rather it didn't get that far, but also I have no intention of paying back over double the amount I am due. It hasn't even been a month since my due date currently! Any advide would be amazing. Thanks Lucy
  12. All Just wanted to let everyone know how I dealt with some these companies. I had loans with Payday Express, Quick Quick, Speed-e-loans, 1 Month, Mr Lender, CFO Lending, Txt Loan, PDUK, 247 Moneybox, and Wonga. Right, after a a few email exchanges, Wonga, 1 Month, Mr Lender, 247 Moneybox, Txt Loan, and PDUK, all agreed to repayment plans, freezing interest and only charging the amount in the loan agreement of initial loan + 1 months interest. Quick Quid, I had advised them that I was in financial trouble, but they kept lending to me. So when I defaulted I wrote a complaint and threatened to go to OFT and FOS. After over a month of email negotiations and me standing firm, they reduced my balance by nearly £1,000. The remainder was repaid on on a repayment plan. CFO Lending and Payday Express, both ended up with the FOS. I got a repayment plan agreed with CFO and Payday Express, whilst my complaint was being investigated. Basically, mid way through investigation, I made my proposal and it was accepted to my surprise, both over 12 months. All interest frozen/charges frozen. My guess is they wanted to be seen as wanting to help. Initially, they were adding on silly charges, not freezing interest etc...Speed e loans, are a funny bunch. They would still would still want to add on charges. It ended up with FOS, I then decided to withdraw my complaint (as they were just about to investigate it), and sent the complaint to the BCA, which is still ongoing. Right in regards to FOS, I have found them to be, quite frankly, useless. They mainly favour the payday loan companies. Also they make huge mistakes. In regards to my complaint with Speed e loans, 8 weeks had already passed, therefore they should investigate my complaint. However, they ended up writing to Speed e loans asking them to respond to my complaint and gave them another 8 weeks!!! I submitted the complaint to FOS in March and in August, they were still no where near investigating the complaint due to their mistakes - hence why I withdrew it. On another occasion, I submitted a complaint in March to FOS regarding my insurance company (incident happened in Jan and I gave them 8 weeks), after 3 more mistakes by FOS, I am sitting here in October, wondering when it will begin being investigated! Overall, the FOS are not brilliant, after communicating with 6 different people on different complaints, I have only met one that seemed to be clued up. However, dont expect miracles from the FOS, but use them to get what you i.e. the repayment plan, as the payday loan companies do seem to be far more cautious with them than how they would deal with you directly.
  13. Hi guys I have a few pay day loan that i have been paying back to get to a better financial place. I phoned a company called [EDIT] to make an arrangement and they agreed 3 monthly installments. Any way on the day they were supposed to take the first payment they took the whole lot. This is wrong because they promised they wouldn't. Luckily i had the call recorded. I want to make a complaint about this company to the FOS and I have also complained to the BCCA who haven't really done anything as of yet. Anyway i have created a blog about my experience with this company in the hope it will help others. You cam also listen to the recording of the call and how they offer to extend my loan even though they know i cant pay it back. I dont know what out come i will get but i want to make other people aware
  14. Has anyone had dealings with capital finance one? They are a complete shark of a company, I originally applied for a Payday loan with them, then cancelled it within a couple of days!! Basically they took the interest that would have been due on the loan from my account, without my authorisiation!!! Now if they had just refunded it, their wouldn't really be a big issue! But they are rude, full of rubbish about one thing or another, and don't answer the phone, at all. Or respond to e-mails, if..(and I use the word IF carefully) they do answer the phone, they just feed you nonsense about this that or the other. They are a very small outfit, maybe 5 or so people working there. You no this because its only ever 1 person that answers the phone!! But I have been gathering a case against them, to take to the FSA! I know this might seem petty, but I will NOT be taken for a MUG!!!! So I have also reported them to the police, and emailed them this below letter : ************************************************** ** Well done!!! after repeatedly ignoring my e-mails and refusing to answer the phone, I have now taken the matter of you taking money from my card without my consent into my own hands and 32 other people, (so far) and coming up with a load of !!!!!!!! about refunding it. I have now gathered a group of people who have all been messed around by you, namely you taking money from peoples account without authorization etc... which is fraud and theft!! Which I have done through an internet forum. I have taken the names, numbers and testaments, and have taken the case directly to the FSA, Trading standards and I suppose the best in my opinion! I have reported you for theft, and fraud to the police, as the other agencies are notorious for delaying processes with "white tape" I have already given my statement to the police, and then I presume they will take the matter further with your local police, as I am up the other end of the country, although I know your area very well. I have also set up multiple web forums to encourage anyone who has been messed around by you to go to the FSA, contact me, and anyone who has had money taken without their consent to go to the police!!! In the past 2 days, 3 people have said they will go to the police with fraud / defraud & theft allegations!! I have given them the number of a DI, that I have been given who deals with financial crimes, and based in London, if your reading this Barry, you are the name they have as I have never spoken to anyone else at your offices, and really very much doubt their are any more than maybe 5 of you there anyway!! You are also breaking the law, as it is impossible to view the T's & C's through your website, and I and many other people cannot do this either. Don;t worry Ive highlighted All this because you wouldn't refund my £31 ????? In case your wondering its ****** *** from Oldham, and i'm personally going to make sure that you either cease to operate as a business, or you give people their money back!!! You can't run a business! You couldn't even run a public toilet!! ************************************************** I just want to know peoples experiences with this company, and also want to warn people not to deal with them!! If possible! I know its tempting to get a payday loan! But if you value your bank account and the little money in it! then don't use these or they will drain it randomly!!! oricle
  15. hi there im new and a bit confused any help would be greatly appreciated a few years ago i got into a bit of difficulty with my debts welcome/barclaycard/littlewoods/vodphone i took out a pdl without realiseing the consequences and it snowballed to the point i could no longer manage so i entered into a protected trust deed after appox nine months my situation changed and i found myself having to move house i defaulted on my ptd and havnt paid anything in approx two yrs i also have since again fallen into pdl debt which ive kindo of bumped i want to get everything sorted out as i feel bad about this but i dont know where to start i foolishly ditched all the paperwork when i moved house so i have no idea who i owe what too should i contact the people running my trust deed they sent me a txt last year saying they were going to put me into sequestration i checked the edinburgh gazzette but only the trust deed is regitered also one of the debts council tax has been kicked back to me by the local council and im now paying that back. on another note when i checked the edinburgh gazzette my trust deed has the wrong house number on it 62 instead of 6/2 is this something i could use to maybe nullify the trust deed and start agin i knoiw im clutching at straws here but i really do want to get this mess sorted out any help would be great
  16. can anyone give advice?i've been struggling with debt and we are going bankrupt. i had put an arrangement in place with cash genie for £20 per month and they took my card details to process these payments. i did this so no further action would be taken until i had a date for court and they were aware of my intentions to pay until i rang with a these details.last month they took an extra payment in error so i rang them on 02/12/11 to complain and they accepted the error and refunded the money. they asked if i could make any other payment, which i said no, so they said i would have to ring in on the 12/12/11 to confirm i still wanted the arrangement and avoid them pursuing for the full amount. I rang them on the 12th to say i had a date set for january but no reference yet so would continue to pay £20 until then and i thought all was fine until today. On checking my account i have had three unautorised amounts taken using my card details from my bank for £645.30, £59.70 and £12.00. On speaking to the bank they said that normal card payments would decline (due to me not having the amount in my account) however if they were continuous authority arranged payments, the bank has to honour them-regardless of the amount, and cash genie would be responsible for any refund. On speaking to Ricky at cash genie today he said there was no record that a plan (or continuous autority arrangement) was in place or record of my call on the 12th, therefore the full amount was persude and the payments couldnt be refunded until they listened to the calls to prove otherwise. i was asked if i had rang in on the 12th to confirm i wanted to arrangement to continue, as it had to be rolled over each month until i had details of my bankruptcy, which i explained i had, as i was in no place to make full payment and would have to pay the reduced amounts in the mean time. I was told i would recieve a call back in the hour, which never happened, so i then rang carter forbes.i spoke to a lady at carter forbes to ask if they had record of the call on the 12th as i was unsure if i had rang them or cash genie about continuing the arrangement and she said they were still looking into the calls and assumed they would ring back but they had no record of me speaking to them either. she confirmed the arrangement was set up from them but cash genie process the payments from my card and theres nothing they can do. As i could hear a male laughing in the background that sound exactly like Ricky i asked her if they were the same department in which she said they were part of the same group but cash genie deal with payments seperately. i said i would then call cash genie instead. i then spoke to Luke at cash genie to chase up the calls. he said that as they has no record of the call the amount wouldnt be refunded and as i was going bankrupt they would refund it anyway now. I find this disgusting as i have always stated that i was going bankrupt (and have emails to prove this) and that i was only paying the £20 per month to prevent action in the mean time and try to help clear some debt as advised by the CAB Luke also said that the amounts were taken as i had failed an arrangement to pay £20 on 24/11/11 (of which they tried continuously process my card but it declined until they were successful a day later. Its weird as if what the bank says is true, the payments today would have decline also as i didnt have that money in the account. so an arrangement and continous authority must have been in place or the bank wouldnt have honoured it? How is that failing to pay? they werent even suppost to take money until the 28th of each month? i explained on the phone that it was funny how this contradicted me being in an arrangement for the £20 and not, but he said that didnt matter now i wouldnt be refunded anyway. he said the last call they had record of was me saying i wasnt paying anymore money over the phone and i would call in on the 12th to confirm, which i did and which appears to be the missing call? at no point was i ever told they would just take money off my card for any amount they pleased and on any date they choose. they say they senbt me a text and email which i never recieved. nor was anything sent by post?I have asked for transcripts of the calls under the freedom of information act of which i have been told i would be charged for so i refused. They know i have 3 dependant children and this has not only left me with no money but they appear to be lying about my last call which they say is the reason they took the money! I've emailed a letter of complaint to carter forbes and cash genie and i've told them i plan to take this to the financial obudsman and office of fair trading if i dont hear from them in response or if the matter hasnt been resolved. I've seen loads of similar posts about cash genie taking money so can anyone help?.any advise would be appreciated
  17. Hey folks, Right, I'll try and keep this a bit brief. My rating is a bit shot thanks to some youthful indiscretions and I really wanna get myself back on an even keel. I am currently having issues with some payday lenders, but thanks to the advice on here, it's well in hand. However, that doesn't stop me wanting to really put things right again and just in one place. Basically, I'm looking for bad credit unsecured/tenant lenders for £3000 over 3 years, hopefully averaging out at £125-150 a month in repayments, well within my scope of finance, even if I ended up jobless. My debts aren't quite as high as £3k but I want some left over so I can move in with my partner and with only one debt, with a very affordable repayment. I'm in full-time employment and only been there 3 months though, but they have just sorted my contract and I'm earning about £1k take home right now. I have other plans for earning more, but neither here nor there atm. Anyways, I wasn't sure where to post this as I didn't see an unsecured loans board, so feel free to move this. Any help would be grandly appreciated. Thanks
  18. Hi all?? I am really starting to worry of recent times as my PDL are starting to get on top of me?? I currently have 4 and seem to just be constantly rolling them over and causing my self to go into more debt to live any sort of lifestyle. below i have listed the ones i have at this present moment!! Cheque centres 1227 Quick quid 600 MEN 187 Wonga 341 I am able to roll these over this month again but i honestly need to set up a repayment plan for them. How do i go about doing this?? Should i contact them myself offering what i can afford each month on a pro rata scale?? or should i contact cccs to set it up?? Wondering what is my next step as this is beginning to stress me out and i am not able to afford to continue these payments much longer!! Regards .......
  19. Hi i have foolishly fallen into the payday loan pit, by borrowing once i have had to borrow more and more and more to pay or keep up with repayments. I have been offered by a debt management company for them to consolidate the loans and pay them instead over 2 years. This will cost me an extra £1000 in interest/admin fees. Also the first 2 months worth of payments(£200) will be held back by the debt company for what reasons i do not know. Also they have said that after all this wonga, pduk etc may not even comply with them anyway. What do i do? Should i trust the debt company or go direct to the payday loan companies and try to sort it out myself?
  20. Have just signed up to Checkmyfile and as this is now picking up Callcredit information a massive raft of entries from Wonga has been detected on my account going back to last year. In all there are 15 settled entries and 1 open entry where the noted currence balance is £2121. This would probably link back to a loan taken out for £1088 over a one month period so with interest would have been £1300ish. At the time they very aggressively sought money from my bank account, they managed to take over £225 direct from the account even after i had cancelled my bank card. I still don't know how they managed to take this money as it wasn't available and put me £200 overdrawn incurring a whole load of additional charges and interest. This was around the time i was made redundant and life was in significant upheaval, so i'll admit that my actions weren't the best but when your life is falling apart then you don't always make the best choices. This puts me in the situation now where it's just about to go to default (it may already have as the last entry was April and at a 6) and i imagine the debts will have risen to £2500 ish by now at their earlier rate of progression. I haven't heard from them in a long time and although i no longer live at the address every other bit of communication has been via email so i would have expected correspondance to continue via these means.So it seems my options are as follows:- 1) Ignore it, take the limited hit that it only seems to be reported on Callcredit. This option is feasible as i don't live at the address they have for me as i had to move out due to lack of a job. 2) Talk to them and offer a reduced settlement figure and negotiate the removal of negative credit information running the risk of starting a period of harassment from them. 3) Allow the debt to go to default and then challenge that the majority of the debt consists of penalty charges and extortionate interest. By my calculations the one month loan + interest would be £1300ish, they have taken £225 from me so the maximum balance i could be defaulted on should be closer to £1050-£1100 shouldn't it? What would you guys do?I already have one default currently registered by Mackenzie Hall so i'm already a little bit buggered for a few years anyways, advice?
  21. Hey, I’m new to this forum so please bare with me! I’ve been reading the forums for about a week now and have gathered a lot of useful information, but thought that it was about time I bit the bullet and posted about my own problems. I, like many others on the site have fallen into the payday trap. Looking around the forum it’s good to know that I’m not the only one out there that’s gotten into this mess and that alone has made me feel a little better and spurred me to take control of my finances. I first used a payday loan company last year to pay some unexpected bills, and paid it back with no problem. I then took out another loan in December with the same company, as I found myself short of cash for Christmas. Then I had my gas/electric bill through in January, which lead to me taking another loan with a different company. After paying these back I had no money to live off, so took out a third loan… Long story short I now have four payday loans, all of which are due on 31st of this month. I cannot afford to keep rolling over all of these anymore. I know my situation may not seem as bad as some others, but it’s very quickly spiralled out of control, and it’s really starting to upset, panic and frustrate me. The loans/amounts are : WONGA : Original loan of £600, £819 after 1 months interest QUICK QUID: Original loan of £250, £312 after 1 months interest PAY DAY EXPRESS: £250 PAYDAY UK: £188 I’m just not sure where to begin. I know I need to cancel my debit card and I can do that no problem. I currently bank with Lloyds TSB, but I do have an old account with HSBC. My wages fall on odd days, it’s not a set day, but the loans are always due on the last working day of the month. For example, I’ve been paid today, and next month I get paid on 27th. Is it enough to cancel my Lloyds card and request a new one, and transfer my wages to my HSBC account, transferring it back for rent etc, or do I need to close the Lloyds account completely? I’ve seen sample letters on the site so have a rough idea of what to write when I first contact the companies for a repayment plan. I’m not sure what to offer each of them when I approach them. Wonga is the real issue as that alone after interest is more than I earn! I can afford to pay them about £100 a month- is this a reasonable offer, too much, not enough? From reading the forums I know that Quick Quid tend to only offer 3 month payment plans, and I can afford that if they accept as that again works out around £100 a month. As for the other two, I could just about afford to pay off PDUK in full this month, along with the £200 (£100 each) I’d be sending to Wonga and QQ if they accept my offer, or should I just contact PDUK for a repayment plan too? And what should I do regarding PayDay Express? I’ve read that they’re pretty tough to deal with I just need some help on where to begin, and what to follow up with when they respond, as it’s all a bit overwhelming. Any help and advice would be greatly appreciated
  22. I am after advice on how to go about sending CCA requests to payday loans and catalogues. Here is my situation: 1. Quickquid loan- owed £1069, currently with mckenzie hall repaying at £15 per week with standing order- originally a loan for £900. 2. Wonga-owed £700, currently on repayment of £10 per week with standing order, roughly £600 left to repay. 3. Txt loan-owe £100, with interest £117 is due to be repaid on the 12th of this month.- they have my current card details. 4. Payday express, owe £400, rolled over once already for £100, now £500 due to be repaid on the 15th of this month- they have my current card details. 5. WDA, owed £350, on repayment plan of £40 per month by standing order- one payment left of £59- however this includes £36 set up fee for the repayment plan- due to be repaid on the 6th of this month- unable to make repayment- nothing heard from them as of yet. 6. PDUK- owed £550,on a repayment plan of £50 per month by standing order, £200 left to repay, due 6th of this month.Been given until tomorrow to pay or further collection procedures will commence. 7. Additions direct ( catalogue )- £900 owed, missed two payments now on repayment plan of £66 per month as they would not except any lower amount- to be paid 22nd of this month- £450+ of this debt is made up of late payment fees accrued over the last couple of years. I also have three credit cards which works out at about £45 per month in repayments and a personal loan of £150 per month. I am currently on maternity leave and receiving £125 per week plus £20 in benefits. I very very stupidly and out of desperation took out the payday express and txt loan whilst on maternity leave without stating that i was on maternity leave- i know how stupid this sounds, but believe me it was pure desperation- to pay household bills after my partner due to personal reasons was unable to make this months rent and council tax payments. All other companies are aware I am on maternity hence the reason for the repayment plans.These loan were taken out last year with the view of having them repaid well before I went onto maternity but due to a combination of having to take my maternity leave early- baby was premature and other unexpected bills they were rolled over for several months. My plan was to send each company a CCA request just to bide me some time until next payday when I can continue with the repayments. However as the due dates for most of these loans are within the next day or two would I be best to email them to let them know I have sent a CCA request- I have them written out and ready to post today- and that I shall be refraining from making any further payments until valid CCA's are received and then I shall continue with repayments- this may stop them from phoning all day long. Should I copy every company onto the same email so as they are aware of exactly how many creditors I owe to and I am not favouring one over the other. Please believe me that I am not doing this as a way of avoiding my debt-if valid CCA's are received then I shall restart payments somehow. It has just got to a point where there is now no money left to repay anything this month- council tax and rent alone was £400.
  23. Hi, I hope someone can give me some advice on a £350 loan I got with the money shop. In December I issued 3 cheques for £100 and one for £50. these cheques where used with my card, so i think that means they are guaranteed cheques, but i'm not sure. My card is just a visa debit. I've paid a monthly interest charge since to roll over the loan to the next month. However my work contract ended in jan and i have not been able to find work since. This has meant that this month I could not pay the interest roll over charges and stupidly i didn't ring them or try to sort the problem out before hand. I went into the money shop today and they told me that as i did not pay the cheques have now been cashed and i should contact my bank. I told them that there would be no funds in the bank to honour the cheques, so he told me to check with my bank as one had already gone through okay but that the other 3 were still due. if the remaining cheques were not paid then he said to ring head office to sort out a payment plan. I have since checked my bank and three of the cheques are on my statement spread over three consecutive days, but i have gone over my overdraft limit. i don't know if these will bounce back out or if the bank is honouring the payment. I also don't know why there are three cheques and not four on my statement. Could that one have already bounced in and back out? If any one has any advice to help me, then that would be great! I just need to know if I'll be paying both companies or if the bank will pay the money shop off and then i'll just have the bank charges for each cheque to pay. Any help appreciated thanks
  24. Hello, I posted a few days ago seeking advice however got one response which was not helpful at all. I'm hoping this time to get more responses. On 24th November, I took out a Wonga loan for £100.00 it was for an immediate cost, and I know I was stupid to do it, but everyone is entitled to a mistake or two. Due to cashflow problems I have had to roll over the loan and it was due on March 1st, I recieved an e-mail saying I could have extended again but cash is that bad I couldn't even afford that. I owed £206.26 on the 1st March and now £20 has been added to that for failed collection. They sent me another e-mail asking me to get in touch and pay, problem is I can't, not until I sort my finances out, which is I don't know when. I am self-employed and having an absolute nightmare with invoices and money collection. This is affecting my personal health a lot and my partner has also recently had an operation so I'm trying to give her as much time as possible. They only have my personal phone number which is the same as my work and funnily enough the phone is broken! So they can only reach me by E-Mail. What do I do? Any advice is welcome. Please Help!
  25. Hi Guys, I have been reading the forums for a long while now and hoping to find some kind of miraculous answer to my problems, you guys are amazing with the help and support you offer others. I have a few problems of my own and was hoping you could advise me too. I have been a gambling addict for 6 months now and have lost alot of mine and my hubbys money online playing slots etc, however i have recently realised my problem and got help for it. i have now been gambling free for 1 month but i am still paying for my stupidity. Myself and my hubby are working full time and between us bring in £2000 a month, but and its a big BUT we have so many debts its becoming ridiculous, i have listed the debts below. I started off thinking we would be able to pay these off however recently it has become more and more obvious that we are struggling to manage even the minimum payments, at this moment in time i have written to all our credit card lenders and advised them of our financial difficulty and offered £40pm, i am still waiting to hear whether they will accept this or not in the meantime i am trying to pay the payday loans off bit by bit. The problem is i can only carry on for so long before i have a breakdown. I feel sick at the thought of the debt we owe and am scared of what will happen if the lenders decline our offer of payments. Please can someone advise me on what i can do should they not accept the offer. Nationwide have already said today that they cannot accept a payment plan since the majority of the credit card debt was due to gambling transactions - is that correct? surely how the debt happened is irrelevant - the fact that we're trying to pay it off is more important? The debts are as follows: Santander x2 c/cards - £6000 2 months arrears Nationwide x1 c/card - £2800 2 months in arrears Capital One x2 c/cards - £3000 1 month in arrears Post Office x1 c/card - £1400 3 months in arrears Aqua x1 c/card - £290 1 month in arrears Nationwide Loan - £1000 - £57pm First Trust Loan - £6000 - £246pm 3 months in arrears Santander Loan - £6000 - £252pm 1 month in arrears Wonga pdl - £999.68 (original loan £450) due 28/02/11 in full QuickQuid pdl - £375 (original loan £300) due 28/02/11 Payday UK - £500 (original loan £400) due 28/02/11 24/7 Moneybox pdl £135 (original loan £100) due 28/02/11 Mr Lender pdl - £430 (original loan £350) due 28/02/11 Payday Express pdl - £400 (original loan £300) due 28/02/11 Moneyshop pdl - £750 (original loan £580) due 28/02/11 I know i have been completely stupid and idiotic to take out all this debt and at the time it seemed like a great idea but i wish i could change my thought pattern then and not take this on. I have spoken to payplan who suggested a debt management plan but i didnt think that was the right option for me, now im not so sure - what do you think? i cant go bankrupt as i work in financial services and would lose my job - i really dont know what to do anymore. Please help.
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