payday uk and ultimate credit services

[postggj]

received a letter from ultimate credit credit services ref a payday uk loan.

the thing is i have never had a loan through them.

i am now an old hand with dca, they no longer intimidate me, so i gave them a ring.

first time i hung up, then called again.

these people are so obnoxiouse and treat you like dirt.

i asked for them to send me a copy of the cca, they refused, saying i owe the money and thats that.

the thing is i have just spent the last twelve months cleaning my credit file and dont want the hasstle of another default.

 

my questions are

 

1/ who are ultimate credit services, anybody have dealings

2/ can they put a default on my credit file

3 pay day uk, very vague looking into this company, are they uk based, and are they licenced under the consumer credit/data protection act

 

many thanks

[confused78]

I think I've heard of them (payday UK) - if they're not licenced then they can't do anything. Fire off a letter to the OFT asking them if they know who they are. If they do put a default on your file that would suggest they ARE licenced. I've looked online and they have a horrendous APR and are designed for very short term loans. In order to get a CCA I think you need to send a letter with a £1 postal order - THEN they're legally obliged to send it out. It looks like it's all done online from the website I've found which suggests that there'll be no signatures or CCA for them to send - they claim to send out the money the same day you apply with no faxing so clearly they won't have what they need to go after you in a court.

 

[EDIT]

 

I'm tempted to apply myself - looks like free money

 

(my post was edited as there was a "commercial link" so to find the website just google the name and it's right there as a sponsored link)

[confused78]

the more I look through the website the more shocked I am - 1355% APR!!!! for a 30 day loan. Either I'm missing something or from what I've seen I could borrow 750 quid, then close my bank account before they come to take the repayment and they'll have nothing whatsoever to pursue a claim in court.

[postggj]

i am now wondering

do they have a consumer credit licence

[confused78]

well I can't see them operating online so openly without one. If it's the same company as I've linked to above then they clearly CANT have a properly executed CCA so you've nothing to worry about. My only concern would be that they're [problematic] - 1 part of the [problem] gets bank details online the other part tries to [problem] people into paying up on non existant loans. This does however seem unlikely. Contact the OFT and FOS - see what they say.

[confused78]

looks like they're for real - how can anyone dare to operate like that??? No CCA, no signatures, no proof of ID other than the account the money goes into. Close your account before repayment day and they're screwed.....they must lose a fortune.

[kev100]

This has to be a numbers game I guess, using harassment and bullying to get money out of people who don't pay up.. hoping they can get more money out of people by frightening them than the money they loose from people not paying up

 

AIMHO of course

[confused78]

well getting back to the original question - you've noting to worry about. Just send off a CCA and that should be that. After 12 days if they contact you asking for money inform the OFT. If they put a default on your file get it removed - shouldn't be hard looking at the way they operate.

[postggj]

many thanks for that

like i said

i have never had a pay day loan

[confused78]

why not? it's free money by the looks of it :-p

[kev100]

many thanks for that

like i said

i have never had a pay day loan

 

Dont forget it only needs somebody to get hold of your address and bank details and they can apply for the loan

 

So you could be a victim of identity fraud

 

Not trying to worry you, but could be worth checking into.

[Belaflat]

Dont forget it only needs somebody to get hold of your address and bank details and they can apply for the loan

 

Since the money would be paid into that account, that shouldnt be a worry.

After looking at thier spiel though, I like the way they use the illustrations to compare their rates to others.

I was almost convinced when I saw the comparisons between an unauthorised overdraft and their loans..

[kev100]

Since the money would be paid into that account, that shouldnt be a worry.

After looking at thier spiel though, I like the way they use the illustrations to compare their rates to others.

I was almost convinced when I saw the comparisons between an unauthorised overdraft and their loans..

 

Yes and I like the way they say if you default then the new rates will apply with a link back to their spiel, the new rates being 1355% APR ..(not 25% on every £100)

 

Not sure if I am talking bull there but 1355% APR doesnt sound too good to me

[kev100]

Since the money would be paid into that account, that shouldnt be a worry.

 

 

But isnt it quite easy to set a bank account up in the name of postggj with fake ID.

 

there are sites on the net that can supply all sorts of fake ID, fake bank details on original paper etc ...

 

If he never received the money in his bank account, it has to have gone somewhere ... unless this company are just trying a fast one of course.

[Belaflat]

Fake accounts can be set up but out of curiosity, I went through the application precedures and they ask for debit card details.

These will have to match the stated account and can be verified online.

 

The only way to get around this would have been to somehow create an account using someone elses details but remember that when confirmation was sent to the address of the unsuspecting victim of ID theft, they would suddenly be alerted. It seems a lot of trouble to go to for £750 max.

[kev100]

Fake accounts can be set up but out of curiosity, I went through the application precedures and they ask for debit card details.

These will have to match the stated account and can be verified online.

 

The only way to get around this would have been to somehow create an account using someone elses details but remember that when confirmation was sent to the address of the unsuspecting victim of ID theft, they would suddenly be alerted. It seems a lot of trouble to go to for £750 max.

 

Your correct, and I am probably just being over cautious, just being devils advocate, but dont forget this company has 10 + companies doing the same thing, £750 just became £7500 + ... makes it a little more worthwhile to get easy credit over the net like this

 

anyway this is going off topic ... sorry ...

[confused78]

Yes and I like the way they say if you default then the new rates will apply with a link back to their spiel, the new rates being 1355% APR ..(not 25% on every £100)

 

Not sure if I am talking bull there but 1355% APR doesnt sound too good to me

 

1355% is their typical APR not their penalty rate

[Vagabond_UK]

Payday UK are part of MEM Consumer Finance and provide short-term loans at highly-extortionate rates to cover payday shortages and unexpected expense. MEM Consumer Finance operate several companies who all work in this area.

 

They are pretty transparent though and AFAIK require faxing of documents and proof of ID before they process any loan application. They operate an 'electronic signature' system on their CCA - essentially where the applicant ticks a box or types their name to say they accept the terms of the CCA and be bound by its terms etc...

 

Whether its actually enforceable or not, I've no idea.

[confused78]

well the payday uk website specifically says that no faxing is required. You fill out the application form online. If they accept, you send your bank account numbers and debit card numbers. They send the money. End of.

[Vagabond_UK]

I had to do this for my next door neighbour when she needed one and had no computer access. Payday UK asked for:

 

A photocopy of her passport or driving license.

A utility bill showing her address.

A photocopy of both sides of her debit card.

The application form - it was sent as a .pdf to be filled in, scanned and sent back.

A contact telephone number for home.

A contact telephone number for place of work - they DID phone to check she worked where she claimed.

 

This was all a year ago, I'm sure things have changed with them since. Thats why I said AFAIK (as far as I know) - no need to get defensive.

[confused78]

i wasn't getting defensive - the "end of" was to signify that unless they're lying their website claims there's very little to it - the money is sent out the same day and they claim no faxing is necessary. I didn't mean "end of argument" if that's what you're thinking.

[Belaflat]

Vagabond, I believe the additional measures you describe are for those punters who cannot be verified electroniacally, ie, bank account at different address, new address and not yet on the radar, that sort of thing.

[katpuss]

Hi guys,

 

I've now recieved a letter from Ultimate Credit Services who say I owe £140 to MEM Consumer Finance Limited.

 

I've never heard of MEM and Payday Loans etc etc.

 

The letter also had my road but no house number and they just put the county I lived in and not the area!!!!???

 

The letter also looks like something that I could have created on Microsoft Publisher!

[postggj]

just interested now in this ultimate credit services

are they for real

kat puss post mirrors mine

is this dca real,as all they say is pay up,they are not interested in cca etc

seems dodgy

[confused78]

well if you're asking over the phone they don't have to send it. As I said before you have to ask in writing and there's a statutory fee of £1. If you've sent the standard CCA letter and enclosed a postal order for £1 and they ignore it then notify the OFT.Send it recorded delivery and after 12 days they can't do ANYTHING until they send it (along with an assignment letter and statement of account). Just google their name and you'll see they have a website so they seem "real" in that sense.

 

Just send the CCA request in writing and then go from there. If they don't play ball contact the Office of Fair Trading.