mjc 007.5 V various payday loans

[mjc007.5]

I am currently trying to negotiate a way through sorting out several of these disasters with varied success - some appear to be being quite reasonable, some ignoring me completely and some attempting (with varied success on their part ) to force through payment when they have been clearly advised that the card/account/cheque details they have are no longer valid for payment and I am requesting we make alternate payment arrangements.

 

I was attempting to make all of them the same affordable offer on my part that stopped the continued downward spiral and from there as the smaller ones were paid snowball that money to those remaining (this meant a monthly pot of £250 amongst them which to begin with is not a very large payment at all).

 

I am now inclined to treat those that have agreed and appear to meeting me half way more favourably. If I treat the accounts that are either ignoring me completely or continuing to claim payments when they have been asked not as in dispute can I legally treat the accounts with arrangements more favourably?

 

If disputing is the way to proceed with some of them should I start with request for agreements under the CCA?

 

Any help gratefully recieved - having got myself into this hole I working really hard to climb back out but seem to be fighting something of a loosing battle. Ultimately I can proceed to DMP with CCCS but if at all possible I would like to sort this myself.

[T2upNorth]

This is no way a legal position, simply my opinion based on how I dealt with a similar situation.

 

I cancelled all payment arrangements and advised my bank not to honor any payment requests from these organisations. I did that in the knowledge that they will use any means, legal or criminal, to extract payment.

 

I informed all of them of my actions. They were all aggressive and some acted in dubious ways (calling work and discussing matters with 3rd parties) so I also informed them that if they attempted contact by any method other than in writing to my home address I would be be reporting them to TS, OFT, police etc. for harassment.

 

I made a repayment offer to each. They all refused, demanding payment in full. So, where possible, I made the first payment of my offer - those who refused to negotiate - I suggested they either sue me or pass to a DCA.

 

Of the 3 who did pass to a DCA, their claim was so weak that I simply ignored them, now they have gone away. The rest will recoup their balances in my time. From my experience, none of them will dare put their claim before a court. However, as I said, this is my experience and not advice!

 

I will never deal with these bottom feeders again - they act illegally, in the knowledge that most people will give up. Protect your finances, let your bank know the situation, use postal orders or prepaid credit cards, or even paypal - be firm and remember to check the legality of their demands before acting....

[mjc007.5]

Thank you very much T2, very helpful and much appreciated

 

Seems like I am going in broadly the same direction, Bank have not helped as apparently these firms can force through payments on stopped/cancelled cards and guaranteed cheques are apparently impossible not to honour (even if the chequebook is subsequently stopped). They have got better once realised I am serious in trying to climb out of this mess (moved my salary first and think as much about the fact that they cannot get hands on this!) and the size of the problem but....

 

In trying to sort this out agree with you about the general attitude of most of them - bottom feeders indeed! It is causing sleepness nights, more stress than I can ever recall having and taking so long to get very little result - I may in the end let CCCS deal with them all but advice from folks here is keeping me going!

[T2upNorth]

One thing I forgot to mention - I noticed some odd transactions on my bank account, a couple of pence debited where they were "testing" a cancelled card - I set up a new basic websaver account, takes minutes to do and doesn't involve a credit check - and moved my salary there. Now they can fish to their hearts content, but each attempt leaves a trace of their fraudulent activity....

 

Good luck, mjc. It won't be fun to start but if you're firm with them you will soon see the balance shifting in your favour. BTW - is EPDL one of your creditors? Is so you may want to check out another thread on here regarding their lapsed licence....

[mjc007.5]

Thank you very much for all of this! Seems like I am on the right track - basic bank account elsewhere now, a number of them still fishing on the details they have got. Seems like we might be winning on the card details but there are still cheques out there....

 

EPDL - indeed they are, appears their manager has connected my access to the site as she mentioned it directly in an offer of repayment plan (I am sure the only reason they became reasonable! ). Currently awaiting reply from the good lady about amended repayment proposal from me - suggested will pay what was actually loaned (minus previous extension fees) as the agreement was signed when they did not have a valid license. I am waiting to hear back from her..... fingers crossed, in both of our interests to settle really (although think I am getting beat up by some of them for being to honest which of course cannot be said for continuing to access old/stopped account details to try and secure payment !)

[T2upNorth]

To be honest, EPDL are one one of the "nicer" ones (when I say nicer I mean less nasty!), I guess because they have to be more mindful of UK law than those overseas....

 

I won't go into details here because I know they read these forums and can put 2 + 2 together (no EPDL, 2 + 2 does not equal 400), but if you're interested in my dealings with them PM me....

[mjc007.5]

Quick update - firstly thanks to all for advice and support, really helped me keep perspective and persist in sorting this out. Particularly mention so far to bub 1 and T2upnorth!

 

We have agreement with five firms to repayment plan, a further one recieving payment at my proposed level (although they have not agreed) because I have their bank details!

 

From the remainder, all recieving or have already got formal complaints, requests for copies of credit agreements, telephone harrasment letters, letters revoking authority to doorstep visits. Awating replies and those that either do not respond or continue to refuse my genuine efforts to get out this mess I have created will continue to be met with measured militancy! (Have I missed anything??)

 

Best advice from someone who has finally (to late) had his lightbulb moment (and probably sounds like a reformed addict but is given entirely genuinely) - if you can avoid these firms then do, if you absolutely must use one do so at the lowest possible level and make absolutely sure you can repay it first time or sooner, do not make using them a habit and never, never, ever borrow from another one to keep the one before going!

 

On the repayment plan front just stick to the "stuck record" approach (assuming you are not challenging them) - I wish to repay my liability to you, I can only afford this, please provide your bank details for me to arrange payment by standing order. It is very slow and painful but we seem to be getting there (plenty of disasters await I am sure!)

 

Thanks again to all

[sillygirl1]

I still think this type of loan should be paid back over 3 periods and a MINIMAL extension fee applied. I paid back an extension fee plus an agreed amount and they took the LOT... luckily I was able to stand it and when they guy phoned me up asking for my NEW bank details I told him to take a hike as he had taken everything I owed and I had no legal obligation to give him any more information. He threatened speaking to payroll at work but I told him we dealt with things differently in the UK to the way they do in the USA... that shut him up - he refused to tell me where he was calling from but I could hear the echo on the end of the line.

[mjc007.5]

Brief update -

 

Proving to be a full time treadmill, some small successes and now more than half of my exposure to this form of "product" has agreed repayment arrangements.

 

One of the firms has taken (or attempted to take) payments comfortably in excess of the maximum contractual value that they could legally claim. What would be the consensus view about this in terms of next stops for me? Do you think the police would be interested??

 

This is going to do me in if they keep on but I am sticking to my guns as someone who has been foolish in getting into this mess but is determined to find a way out!

 

Thank you to all the kind people here, you have been a massive support

[T2upNorth]

Brief update -

 

Proving to be a full time treadmill, some small successes and now more than half of my exposure to this form of "product" has agreed repayment arrangements.

 

One of the firms has taken (or attempted to take) payments comfortably in excess of the maximum contractual value that they could legally claim. What would be the consensus view about this in terms of next stops for me? Do you think the police would be interested??

 

This is going to do me in if they keep on but I am sticking to my guns as someone who has been foolish in getting into this mess but is determined to find a way out!

 

Thank you to all the kind people here, you have been a massive support

 

 

 

Well, as you know these animals operate in their own little bubble - you are not a person, you are a revenue stream.

 

2 words - parachute account.

 

I tried to be reasonable and honest - not good enough for them so they acted illegally. On that basis I cut off their revenue stream and told them where to go. What's the worst they can do? They won't go to court, they could hit your credit file (but you probably wouldn't be dealing with them if it was squeaky clean), they will send in the DCA's - how you deal with them depends.....

[mjc007.5]

Good morning T2up North and thanks as ever

 

You are right about the parachute account and thank god I was on here to get that piece of advice before this all started! How much worse this would have been with a larger chunk of the main income missing!!

 

I really have felt at times best thing to do was not to contact, not be honest in trying to sort it all out and let the DCAs start knocking. It has been sole destroying at times and I can see why some folk decend into depression and worse when dealing with their debts.

 

Lucky for me I found this place! ;-)

 

The former bank are going to "withdraw banking services" this afternoon (I have already kind of done it for them by moving!) and try to come to an arrangement for repayment of debt to them. If this goes okay will have 4 of these firms left to deal with and then hopefully can come to arrangement with the more "conventional" debts. I will sort this out despite the payday loan companies attempts to stop me!!

[mjc007.5]

possibly the funniest (substitute ironic or saddest if preferred) thing in all of this mess is that I am continuing to get a torrent of emails (all into spam box of course!) from this type of lender offering me additional loans (which of course I wil not touch!) - a number from the same firms I am in dispute with!!

[lozzzy]

do you have or know any recommend parachute accounts?

[mjc007.5]

Good morning Lozzy - personal experience alone (and I know others will slate them in terms of "normal" banking) I have gone for the Nat West Step account. Telephone banking, internet banking (some additional security to deal with but okay once you get used to it) and a solo debit card (which appears much more acceptable these days than once was the case). All in all, as a basic account had all the things I wanted.

 

Going well with this so far, nice to have money in the bank (although not a lot) rather than taking another loan to pay for the last one

Edited July 15, 2009 by mjc007.5
atrocious grammar!!

[mjc007.5]

I have a small success to report - one of the firms who were shall we say somewhat overeager in the accessing of my account have agreed to pay funds back!!

 

Still a long way to go, four of them not playing at all but we started with 11!