Stay away from Payday UK

[surprise]

Once you are a customer of the Provident they just keeping giving out money regardless whether the customer can afford it or not. My daughter got sucked up big time with them and it has taken me a long time to sort them out for her. I requested copies of her agreements and because they use carbonised sheets the last copy had not come through clearly so they wrote that amount off and it took me seven months to get reduced payments on the balance.

 

One thing you can do Dave is to take the cash then you will have seven days in which to return it the agents hate that as they loose their commission.

[fuzzybobble]

If they use carbon sheets, it's best to sign as lightly as possible, then CCA them 2 days later

[overdone]

O

..Watch this space as they say...

 

That's exactly what I am doing. Better than watching "Big Brother" or "The X Factor."

[fuzzybobble]

That's exactly what I am doing. Better than watching "Big Brother" or "The X Factor."

 

So is watching a blank dvd

[adamski]

Hi

Any news on this one?

 

I am after just over a year free of these unscrupulous pay day loan companies I have piad them off with a struggle

[diskmandave]

I must apologise for the late update to this!

 

I've been doing Half 4 & Half 5 starts this week and i'm absolutely worn out!

I've also recently been promoted again at the WIKI site where I post!

 

Got a call very late Wednesday evening, just before the 9pm cut off...

 

caller: Can I speak to Dave B.... please...?

Dave: Who's calling?

caller: Provident Finance.

Dave: This is he...

Provident: We need to do security... Can you tell me.........

Dave: I don't do security with PPL I don't know, i'll tell you my full name with my full postal address...

Provident: Not good enough. I ask the questions, you answer them if......

Dave: What's your name, your company's full address and your companies Consumer Credit Licence details...?

Provident: PAUSE............. We'll get back to the loan then Sir....

Dave: Er, no....... I'ld actually like to talk about your ADVERTISED APR% please...

Provident: It's 25%

Dave: Er, no, again, i'ld like to talk about the ADVERTISED APR%...

Provident: IS THERE A POINT TO THIS SIR...?

 

DMD... : I'm a consumer activist... My screen name at the Consumer Action Group is..... DMD...

 

Provident: You'll be taking the loan then Sir?

 

Dave: Only if it's free money, as i'm DMD at.........!

Provident: Excuse me sir?

 

Dave: I want to talk about your APR% and your Consumer Credit License...

Dave: Do you have a press office?

 

 

Dave: This is DMD we seem to have been cut off... CLICK...

 

Don't think we'll be doing business then!! LOL!

Edited August 30, 2008 by diskmandave

[diskmandave]

Dave

What do you think of Pounds til payday?

 

£29.98 per £100, for example, if you borrowed 100 GBP your repayment amount would be 129.98 GBP due in full on your next payday.

 

 

 

THIS COMPANY IS REGISTERED IN MALTA AND THEREFORE ALMOST CERTAINLY DOESN'T HAVE A UK CONSUMER CREDIT LICENCE!!!

 

Can anyone expand on this as i'm going to bed... Knackered!!

Edited August 29, 2008 by diskmandave

[Blossomandebony]

Hi, DMD,

 

If the interest that these companies charge would be classed as 'extortionate' in court, thus making any agreement unenforceable, has no one yet challenged them in the small claims court?

 

It would appear that the debtor couldn't lose - after all, any judge must surely recognise an interest rate above 1000 % as extortionate?

 

BAE

[odds]

Hi, DMD,

after all, any judge must surely recognise an interest rate above 1000 % as extortionate?

 

BAE

 

After reading through many threads on here, it would appear that unless you slap a judge around the back of the head and point out the facts they indeed do not recognise the obvious. Be it lawfull or otherwise.

 

Pete.

[surprise]

I can't remember the exact details now as it is going back a long time but Provident did take someone to court and because of the high interest rate the judge half the amount the debtor owed. This is why Provident don't like taking people to court and are very good at accepting reduced payments.

[overdone]

I can't remember the exact details now as it is going back a long time but Provident did take someone to court and because of the high interest rate the judge half the amount the debtor owed. This is why Provident don't like taking people to court and are very good at accepting reduced payments.

A friend of mine was in trouble with provident, last year, and they tend to use Moorcroft.

[diskmandave]

 

 

THIS COMPANY IS REGISTERED IN MALTA AND THEREFORE ALMOST CERTAINLY DOESN'T HAVE A UK CONSUMER CREDIT LICENCE!!!

 

Can anyone expand on this as i'm going to bed... Knackered!!

 

I've called this company this morning.

 

A lady answered with a Maltese accent (i've been to Malta so I know what a Maltese accent is!). She first of all insisted that she wouldn't deal with me unless I gave her my National Insurance number!!! I told her that she had more chance of getting it than she had of winning the Euro Lottery 2 weeks running with the same numbers...

 

I then told her straight off that I was DMD from the CAG Debt Forum and that I was investigating her company.

 

Again, she asked for my NI number and I told her that I was investigating her company and wasn't prepared to divulge such personal information...

 

She asked how she could help... I said that I needed to know the full UK registered address of PoundsTilPayday pursuant to the Data Protection Act and the Companies Act, in order to serve Legal Action. Her reply was to see the "Contact Us" page on our website...

 

I asked if she was prepared to comment on the APR% in excess of 2200% and the phone went down.

 

Investigating this company, I can't find their Data Protection Registration, either as PTPD or as their parent company... Northway Broker Limited. They also claim to be registered and licensed under the Consumer Credit Act 1974.

 

I'll follow this up and report back when appropriate...

 

[adamski]

Hi

Dave I will post up a credit agreement shortly for P2P and any other info I can find.

[diskmandave]

 

after all, any judge must surely recognise an interest rate above 1000 % as extortionate?

 

Generally speaking, anything over 40% would be seen as an extortionate/unfair credit bargain at Court.

[adamski]

Heres Pounds til paydays credit agreement it is always electronic

FIXED SUM LOAN AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974

 

Parties to the credit agreement:

 

Northway Financial Corporation Ltd of Level 8 Suite, 3 Plaza Commercial Centre, Bisazza Street, Sliema, SLM15 Malta

E mail address: [email protected]

(referred to in this agreement as "we" and "us") and

of: xxxxxxxxxxxx

adamski E mail address: xxxxxxxxxxxxxxx

(referred to in the agreement as, “the debtor” or “you”)

 

Key Financial Information

Amount of Credit £ 600.00 Total amount payable £ 779.88 Duration of agreement 31 days Payment date 7-28-2008

APR 352.99% The total amount payable is to be repaid in full by two equal payments on the Payment Date

 

Other Financial Information

Loan fee £ 12.00 Broker fee £ 167.88 Total charge for credit £ 179.88

 

Key Information

If there are insufficient funds in your account on the Payment Date then you will incur a default charge of £59. You may also be liable for any other reasonable costs and charges that we incur or pay to a third party, including collection agency fees and legal costs which arise out of your breach of the agreement and any costs we may incur if we have to trace you.

IMPORTANT – READ THIS CAREFULLY TO FIND OUT ABOUT YOUR RIGHTS

The Consumer Credit Act 1974 lays down certain requirements for your protection which should have been complied with when this agreement was made. If they were not, the creditor cannot enforce this agreement without getting a court order.

The Act also gives you a number of rights. You can settle this agreement at any time by giving notice in writing and paying off the amount you owe under the agreement which may be reduced by a rebate.

If you would like to know more about your rights under the Act, contact either your local Trading Standards Department or your nearest Citizens' Advice Bureau.

MISSING PAYMENTS

Missing payments could have severe consequences and make obtaining credit more difficult.

 

This is a credit agreement regulated by the Consumer Credit Act 1974. Sign it only if you want to be legally bound by its terms.

As you are entering into this agreement in the form of an electronic communication, instead of signing in your handwriting please take the following three steps:

1. Please type in your full name

2. Check that your National Insurance number has been entered correctly below

3. Then click on the “submit” button after the terms and conditions

 

Once you have clicked on the send button this will have the same effect as if you had signed this agreement in your handwriting. Northway Financial Corporation Ltd

 

--------------------------------

Signed for and on behalf of the Creditor

Date: 27 June 2008

Signature of Debtor(s): ADAMSKI National Insurance #: xxxxxxxxxx

Type your full name here Your National Insurance number

Date of Signature(s): 27 June 2008

 

You must sign the broker agreement below. By signing this broker agreement you agree to pay the broker fee set out above for the services provided by the broker in arranging the loan. The broker fee will be collected by the creditor on the Payment Date. The terms of the broker agreement are set out below. Northway Broker Ltd.

 

--------------------------------

Signature of Debtor(s): ADAMSKI Date of Signature(s): 27 June 2008 Signed for and on behalf of the Broker

Type your full name here Date: 27 June 2008

 

Important – Your Personal Information

Credit decisions and also the prevention of fraud and money laundering.

We may use credit reference and fraud prevention information agencies to help us make decisions. What we do and how both we and credit reference and fraud prevention agencies will use your information is detailed in the section called: A Guide to the use of your personal information by ourselves and at Credit Reference and Fraud Prevention Agencies. By confirming your agreement to proceed by pressing the “send” button you are accepting that we may each use your information in this way.

 

The terms and conditions of the credit agreement and the broker agreement are as follows:

The credit agreement is made between us, the creditor and you, the debtor named above on the terms set out above and below. The credit agreement comes into force when it is signed and dated by the creditor.

The broker agreement is made between the broker and you, the debtor named above on the terms set out above and below. The broker agreement comes into force when it is signed and dated by the broker.

The credit agreement has been introduced to the creditor by Northway Broker Ltd. trading as Pounds Till Payday, acting as your credit broker of Level 8 Suite, 3 Plaza Commercial Centre, Bisazza Street, Sliema, SLM15 Malta, whose e mail address is [email protected]

In the credit agreement and broker agreement reference to;

"The broker" means Northway Broker Ltd..

"Cancellation Event" means the date upon which you exercise your right to cancel under clause 10 below.

"E mail address" and "e mail addresses" shall be either or both of the e mail addresses specified in the agreement above and any change of e mail address notified from time to time by either party to the other.

"The parties" mean the parties to the credit agreement and the broker agreement.

"Payment Date" means the payment date shown in the Key Financial Information section above.

"Payment Due" means the total amount payable shown in the Key Financial Information section above together with any sum due under clause 12 below.

"Your Account" means the account of a bank or other financial institution whose details (including debit card details) you have provided to us at the time of your application or provide at a later time with a view to sufficient funds being deposited in that account by you to enable us to take the Payment Due from you.

The credit agreement and broker agreement and all other communications between the parties are to be provided by way of electronic means (except where provided otherwise by any statutory provision). By signing the credit agreement and the broker agreement you agree to

receive all communications from the creditor and broker and to send all communications to them by electronic mail at the e mail addresses notified.

notify the creditor immediately in the event that you

Change your e mail address (in which case you must notify us of your new e mail address),

No longer have an e mail address or have no means of receiving any electronic mail from the creditor.

You agree to pay to the creditor the Payment Due on the Payment Date. You authorise the creditor to take from your account at any time on or after the Payment Date the Payment Due (or, at the creditor's discretion, any part of the payment due).

The fee payable to the Broker will be collected by the creditor from the payment due on the Payment Date.

All sums owed under the credit agreement shall become due and payable immediately upon the creditor giving you notice if

you have provided the creditor or broker with any false information when you entered into the credit or broker agreement, or

a statutory demand is served on you or any other steps are taken by you or any person to make you bankrupt, or.

The events in clause 5 b) ii above occur

You must inform the creditor in writing within fourteen days of any change of name, postal address, job or any other circumstances relating to your ability to discharge you liability under the credit agreement.

You have a right to cancel the credit agreement within 14 days commencing on the day after the creditor gives you the loan. If you wish to cancel the credit agreement you can do so by the following means

By sending a notice to the creditor in writing at Level 8 Suite, 3 Plaza Commercial Centre, Bisazza Street, Sliema, SLM15 Malta or Suite 39, Unit 4, Old Down Business Park, Emborough, Radstock BA3 4FG, UK. If you send a notice by post, then your notice will be taken to have been given on the day it was posted.

By leaving the notice at Level 8 Suite 3, Plaza Commercial Centre, Bisazza Street, Sliema, SLM15 Malta or Suite 39, Unit 4, Old Down Business Park, Emborough, Radstock BA3 4FG, UK

By sending a notice to the creditor by electronic e mail at [email protected]

By sending the creditor a notice by fax at 08000 66 45 27

If you decide to cancel the credit agreement you will have to repay to the creditor as soon as possible and in any event within a period not exceeding 30 days from the day of the cancellation event

(subject to b) below) the total of the following:

the amount of credit stated above, plus

50% of the loan fee and

50% of the broker fee (which the creditor shall collect on behalf of the broker).

the total amount payable, where the sums referred to in clause 11 a) above are not repaid by the payment date.

The creditor shall notify you of the amount payable by you under this section upon receipt of your cancellation notice.

You may also be liable for any other reasonable costs and charges that we incur or pay to a third party, including collection agency fees and legal costs which arise out of your breach of the credit agreement and any costs we may incur if we have to trace you. Such costs or charges will be payable by you upon demand being made by the creditor.

The "creditor" shall include any successors in title or assignees of the creditor. The creditor may transfer its rights and responsibilities under the credit agreement (in whole or in part) to another person or may appoint any third party as agent to take any steps on its behalf to recover any payment due under the credit agreement.

The credit agreement and the broker agreement are governed by English Law

The creditor is licenced by the Office of Fair Trading of Craven House, 40 Uxbridge Road, Ealing, London W5 2BS. Our consumer credit licence number is 574990

The broker is licenced by the Office of Fair Trading of Craven House, 40 Uxbridge Road, Ealing, London W5 2BS. Our consumer credit licence number is 574988

Both the creditor and the broker are members of the Consumer Credit Trade Association (CCTA) and subscribe to its code of conduct. The CCTA operates a reconciliation service and arbitration scheme for customers who cannot resolve a complaint with member firms. You will be given details of this scheme if any complaint you may have cannot be resolved.

All terms and conditions, correspondence and any communication from the creditor or the broker will be in English.

You should be aware of the possibility that other taxes or costs may exist in addition to the sums referred to in the credit or broker agreement which are not a condition of the loan or broker agreement or imposed by the creditor or broker.

 

[adamski]

I Have Pay Day Uks credit agreement who are MEM consumer Finance and Quick Quids if they are any use to you DMD.

[diskmandave]

You must sign the broker agreement below. By signing this broker agreement you agree to pay the broker fee set out above for the services provided by the broker in arranging the loan. The broker fee will be collected by the creditor on the Payment Date. The terms of the broker agreement are set out below. Northway Broker Ltd.

 

Pounstillpayday and Northway Broker being one and the same.

 

Don't need to see the agreements thanks adamski..

 

Will do some phoning around later this week.....

[adamski]

The credit agreement and the broker agreement are governed by English Law

The creditor is licenced by the Office of Fair Trading of Craven House, 40 Uxbridge Road, Ealing, London W5 2BS. Our consumer credit licence number is 574990

The broker is licenced by the Office of Fair Trading of Craven House, 40 Uxbridge Road, Ealing, London W5 2BS. Our consumer credit licence number is 574988

Both the creditor and the broker are members of the Consumer Credit Trade Association (CCTA) and subscribe to its code of conduct.

 

I thought that bit might be the part you were interested in?

[adamski]

and they have an office in England

You have a right to cancel the credit agreement within 14 days commencing on the day after the creditor gives you the loan. If you wish to cancel the credit agreement you can do so by the following means

By sending a notice to the creditor in writing at Level 8 Suite, 3 Plaza Commercial Centre, Bisazza Street, Sliema, SLM15 Malta or Suite 39, Unit 4, Old Down Business Park, Emborough, Radstock BA3 4FG, UK. If you send a notice by post, then your notice will be taken to have been given on the day it was posted.

By leaving the notice at Level 8 Suite 3, Plaza Commercial Centre, Bisazza Street, Sliema, SLM15 Malta or Suite 39, Unit 4, Old Down Business Park, Emborough, Radstock BA3 4FG, UK

[diskmandave]

All noted...

 

I'll be making some calls this week..

OFT... TS's... ICO...

 

That kind of stuff... Making noises about certain APR%s...

 

As i've previously said, i'll report back when appropriate..

 

I'll also be looking at YES's £59.50 processing fee for unsuccessful applications.

 

Thanks again guys!

[la2006]

In reality, an APR% higher than 40% APR is likely to be Judged as an Unfair/Extortionate Credit Bargain.

 

My advise is to anyone is to complain on unfair/credit bargain, i complained using the acts and terms of unfair Extortionate Credit Bargain, i would report them to the OFT and FOS and take legal action against them. They had to send my complaint to a solicitor and got a letter saying that my agruments are invalid but there gonna write off the outstanding amount.

[Mrs_Ryan]

I wish I'd seen this thread before I got tangled up with MEM!!

 

They got quite snotty when I discovered they had randomly tried to call my employer - they had my old employers details, and demanded the new number for my new employer. I said I wasnt allowed personal calls at work, and I wasnt there at the minute. Oh that doesnt matter, as long as someone says you arent there, they said. Stupidly, I gave them the number. and in a menacing type manner they said 'someone will be calling..'

 

Five minutes later, I rang back and said 'Not only is my boss there but the hospital manager is as well, Im still on probation and if I get a personal call they will sack me on the spot. And then you wont get a penny. Take your money on the 24th and dont bother me again.'

 

Miraculously, the guy I spoke to sorted it! He blocked the call and left a note on my account in big letters saying 'UNDER NO CIRCUMSTANCES CONTACT THIS PERSON AT WORK!'

 

And dont even get me started on PTP....!!!

[sandysue103]

Unfortunately I have used all of these. And I may get kicked for this, but apart from the extortionate interest, I have never had any problems with them. They are truly extortionate though. The only thing I am thinking is that the agreement above (which I had previously signed) states that it is governed by the law of England and Wales. As I live in Scotland, could I get away with it?????