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I have been on the Pounds till Payday merry-go-round for several months and no matter how hard i try i am unable to get straight in paying them off and having to borrow again each month.

 

After reading through the forums i have decided to cancel my DD in attempt to come to some arrangement to pay this debt off in installments. Within 48 hours of cancelling my DD, Pounds till Payday phoned my mobile and emailed me. I dont know how they have got my mobile number as i have changed giving them my details.

 

The email is as follows .............

 

Dear drob

 

We would like to inform you that according to our records your Direct Debit

Mandate with us has been cancelled. We would need you to reinstate the Mandate

as soon as possible.

 

As your repayment date would be 29/05/09, there will not be enough time to set

up an new agreement with your bank on our website as we need at least a minimum

amount of 8 business days between till the repayment date.

 

The alternative to this would be to go to your bank branch and have your Direct

Debit Mandate reinstated. This would take 4 full business days to complete and

would be the only alternative way to have your funds repaid via Direct Debit.

Please note that it is at the discretion of the customer to make sure that your

Direct Debit Instruction has been successfully set up again in time for your

repayment date.

 

Unfortunately, if you would not be able to have your mandate reinstated at your

Bank we will not be able to debit the funds on the due back repayment

date, so we would kindly ask you to be in contact with our Payment Services

Department to arrange an alternative payment.

 

Payment Services Department can be contacted on 08000 32 76 53. Their hours of

operation are Monday to Friday, 8am to 8pm.

 

It is important to note please that if you would not be able to have your

mandate reinstated and you would not contact our Payment Services Department

before or on your repayment date, you could incur an extra fee of £59.00 and

have your loan limit with Poindstillpayday.co.uk reduce for your next loan to

that of £100.00 only.

 

I now await the harrasement and refusal of a payment plan, but i cant see any other way to get off the merry-go-round of PayDay loans.

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*Update*

 

I received a default notice by email today from PTP. The default is not legal in any shape or form.

 

I find it shocking that this has been issued 1 day before repayment is due

 

A few minutes after receiving i received a telephone call from someone claiming to represent PTP. I refused to give my date of birth and post code so she got very aggressive telling me that she needs to speak to me regarding a sensitive matter.

 

I told if its sensitive then she can contact me by telephone, with that she said she would email me and slammed the phone down.

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Don't worry.

 

You will still get the odd call from some A-hole in Canada or Ireland until they pass the account to their DCA.

 

They will not agree a repayment plan directly with you for some reason, unless you can pay it back within the month.... Which, if you could, means that you would not have defaulted in the first place... Surely?

 

I am waiting for the DCA to contact me having already offered PTP £100 a month against a £910 debt.

 

If they had accepted it they would have had £200 back by now.

 

They will have to wait a lot longer for their money now though.

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They have rang a couple of times but i refuse to answer the security questions and repeatedly tell them "email or in writing only"

 

I have sent them the following email, yet they have not yet replied,

 

Dear PTP

 

I am aware that the terms & conditions of the loan agreement state that

Pounds Till Payday do not allow rollovers, extensions, payment plans nor

payments in installments. The loan is issued on a maximum 31 day loan

period., however due to my unforeseen circumstances i would ask you on this

occasion to consider a payment plan and freeze any interest or charges that

may be applied to this account.

 

If this is acceptable please send me your bank details and i will set up an

immediate Standing Order to pay £54.93 immediately followed by £50 per month

until the account is clear.

 

Also please be advised that I will only communicate with you in writing or

by email any attempts to contact me by telephone will be duly logged by time

and date.

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Hi Drob - I am afraid this is the nature of PayDay loans. they accept all (or most comers) but in turn have strong enforcement policies. Having said that they probably will agree a short repayment plan as it is not in their interests not to - however stand by for some huge default charges - most fo which are probably not lawful under the UTCC regulations. I would recommend that you start paying them back even if they don't reply to you - get that debt down and paid asap.

 

PTPD are a Malta based company with their main offices in N America. However they do, of course, have a UK based registered office.

 

May I ask you how much, inc interest you owe?

 

If you go to their web site you will find payment details there (look at the bank giro form in the 'update info' section)

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I have tried to log onto my PTP account, but for some reason they have blocked my account.

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I'll Pm you with details

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Yes, that is to stop you paying them off bit by bit - silly idiots - wouldn't it be easier for people to do that if they can't pay it back in one month.

 

I believe all loans of this type should be payable over a 3 month period with NO rollover charge being more than 25% of the remaining balance... but do they see that as a good deal - NOPE

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I have managed to get hold of their bank details from another member.

 

What i might do is email them again and point out that i am dissapointed that they have not responded to my email and offer of a repayment schedule and that as they have not responded i will now proceed with the schedule.

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PTP haave replied to my email and my offer to repay by installments ........

 

Dear drob

 

Thank you for your e-mail. Your offer of paying in installments is not

acceptable, therefore I enclose all of the information you will need. Basically

there are 3 options:

 

1. Pay the loan in full within this time and stay in good stead with PTP

and not incur any further fee’s.

 

2. Pay what you can knowing that your file may be sent on to a 3rd party

debt collections agency which may add on there own charges and they might list customers with Credit Rating Companies

 

3. Seek debt management and we can look at a longer term payment plan.

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Hi Drob

 

I would go for option 4 (they must have forgotten) - Let them pass it to Clarity and deal with them. they are quite happy with my monthly tenner.

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This is my 1st post on this forum but just thought I would give you an insught into my recent Payday loan situation.

 

I had a Payday loan with Poundstilpayday which I kept rolling over and making the monthly interest payments. I did this for 6 months and realised I could not carry on with it due to unforeseen circumstances so defaulted.

 

I got the usual phone calls etc from Poundstilpayday, although they weren't as bad and often as I expected. I think this may be that I told the 'account manager' there is more chance of it snowing in the Sahara than getting the full payment off me.

 

I had all intentions of paying this loan back and 1 month later it was passed to Clarity.

 

Clarity were quite good to deal with, I offered them £20 per month which they actually refused, but we then negotiated and I am now making a payment of £40 per month to them.

 

The one thing I would say to all worried Payday customers is that if you default please don't worry, Clarity can be dealt with easily and as long as you keep up repayments with them you will be fine. Be firm witht the Payday loan 'account managers' and even though it may be hard try not to show any weakness on the phone with them. I actually insisited they pass my debt onto a collections agency (Clarity) as I knew it would make things much easier.

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Same here.

 

SInce the beginning of May the "Account Manager" has been threatening to pass the account to a DCA, I have repeatedly requested that they do this only to be told that PTP will keep the account for 30 days (why? I could have paid off a quarter of it in this time...)

 

A "final attempt to contact" was made on Friday which included a call to work, questioning colleagues as to whether I was still there and what my future prospects were (?!)

 

A voicemail left on a work mobile number that I don't have any more, accusing me of telling "fibs" which I believe is a breach of the Data Protection Act.

 

A snotty, badly spelled and punctuated email threatening "Door to Door" collection as I had made no attempt at repayment. Funnily enough they claim to use a firm based in my home county. What a splendid coincidence!

 

I replied pointing out that:

 

a) I believed the telephone calls constituted harrassment as I had asked for emails or letters only. I can't make or take personal calls at work anyway.

 

b) Voicemails on a mobile number that I have told them is no longer mine? Naughty.

 

c) Door to door collections? Without a court order?

 

d) I have offered to pay substantial installments on at least 3 separate occasions.

 

Hopefully Clarity will hurry up and get in touch as I want to start paying this back!

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Yep I was hassled by some guy called Alan from Pound Till payday literally about 20 times a day when I couldnt pay, they wouldnt accept my offer of monthly payments either. The last time I spoke to them I told them if he continues to call me so much I will get him done for harrasment as he he breaking trading standards guidelines...he never called back lol

Just stay strong and stick to your guns, they will pass it to Clarity who in my experience are the best of a bad bunch of dca and will accept your monthly repayments. I am currently paying back £30, this month will be my last month :-) Also when you have finished paying them make sure you request written confirmation that the debt is clear and ask them to remove any negative mark on your credit file xx

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I have only received 2 calls in total and 2 emails so it does concern me why PTP are being so quiet

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Really? That's a suprise because they bombarded me...not sure why they would be so quiet maybe trading standards have had a word?! Honestly though they always pass their debts to Clarity in my experience and they will accept your payment plan, you have to stay strong tho because forst of all Clarity wanted me to pay £70 odd quid a month but I got them down to £30 ;)

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PTP also went very quiet with me albeit I answered their call and told them I couldn't pay. Clarity were soon in touch- when you hear from them tell them cccs have told you to offer £10/£20 per month - worked for me.

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I recently cancelled my direct debit which was for around the £800 as i had been gettin a reloan every month for about a year as i just could not stop and take the £800 hit.... I was recently made reduntant i panicked and cancelled my direct debit, I have since had numerous phone calls from someone called Owen, I have paid £100 towards the debt but he is ringing everyday demandin the rest....

so glad I read your posts as i was ill with worry over this and all your adivce has eased my worries..

 

thanks all.

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I've had similar dealings with PTP. Defaulted and was called on numerous occasions by their collections people. American accent who would not take no for an answer. Told them I would only communicate through email and he basically said I had lied about being able to pay the loan back and why did I lie - I only said I was having financial difficulites and could I set up a repayment plan !!

They eventually pased the debt to Clarity who I have had no problems with what so ever. PTP wanted the full payment, clarity have accepted £2 per month.

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how long does it usualy take for them to pass your debt on to Clarity?

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Typically seems to be 4-6 weeks. They keep it with their inhouse collections people to start off with.

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Well with me it took about 2 months...then I recieved a letter and then I called them and they set the payment plan up there and then. Just don't answer p2p calls...because they will constantly ring you!

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It also took 6 weeks for PTP to pass on my debt to Clarity.

 

This was from my actual default date.

 

PTP contacted me for the 1st two weeks after I defaulted until I told them straight that I could not make full payment.

 

After this it all went quite until a letter from Clarity landed on my doorstep.

 

I will say it again that Clarity are good to deal with and you should have no problem negotiating an affordable monthly payment.

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I have had an email from what looks like a department of PTP themselves offering me a 20% reduction if I settle within 30 days.

 

Is this normal?

 

I could possibly do this but I wanted to know if I am likely to get a chance to negotiate a better deal with Clarity.

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I was offered the same and it basically amounted to their ridiculous £59 default charge.

 

Clarity offered me 20 or 25% off for settlement (can't remember which).

 

Giving it Clarity just buys you some time and the option of monthly payments.

 

Whatever suits you best really.

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