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    • He was one of four former top executives from Sam Bankman-Fried's firms to plead guilty to charges.View the full article
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    • further polished WS using above suggestions and also included couple of more modifications highlighted in orange are those ok to include?   Background   1.1  The Defendant received the Parking Charge Notice (PCN) on the 06th of January 2020 following the vehicle being parked at Arla Old Dairy, South Ruislip on the 05th of December 2019.   Unfair PCN   2.1  On 19th December 2023 the Defendant sent the Claimant's solicitors a CPR request.  As shown in Exhibit 1 (pages 7-13) sent by the solicitors the signage displayed in their evidence clearly shows a £60.00 parking charge notice (which will be reduced to £30 if paid within 14 days of issue).  2.2  Yet the PCN sent by the Claimant is for a £100.00 parking charge notice (reduced to £60 if paid within 30 days of issue).   2.3        The Claimant relies on signage to create a contract.  It is unlawful for the Claimant to write that the charge is £60 on their signs and then send demands for £100.    2.4        The unlawful £100 charge is also the basis for the Claimant's Particulars of Claim.  No Locus Standi  3.1  I do not believe a contract with the landowner, that is provided following the defendant’s CPR request, gives MET Parking Services a right to bring claims in their own name. Definition of “Relevant contract” from the Protection of Freedoms Act 2012, Schedule 4,  2 [1] means a contract Including a contract arising only when the vehicle was parked on the relevant land between the driver and a person who is-   (a) the owner or occupier of the land; or   (b) Authorised, under or by virtue of arrangements made by the owner or occupier of the land, to enter into a contract with the driver requiring the payment of parking charges in respect of the parking of the vehicle on the land. According to https://www.legislation.gov.uk/ukpga/2006/46/section/44   For a contract to be valid, it requires a director from each company to sign and then two independent witnesses must confirm those signatures.   3.2  The Defendant requested to see such a contract in the CPR request.  The fact that no contract has been produced with the witness signatures present means the contract has not been validly executed. Therefore, there can be no contract established between MET Parking Services and the motorist. Even if “Parking in Electric Bay” could form a contract (which it cannot), it is immaterial. There is no valid contract.  Illegal Conduct – No Contract Formed   4.1 At the time of writing, the Claimant has failed to provide the following, in response to the CPR request from myself.   4.2        The legal contract between the Claimant and the landowner (which in this case is Standard Life Investments UK) to provide evidence that there is an agreement in place with landowner with the necessary authority to issue parking charge notices and to pursue payment by means of litigation.   4.3 Proof of planning permission granted for signage etc under the Town and country Planning Act 1990. Lack of planning permission is a criminal offence under this Act and no contract can be formed where criminality is involved.   4.4        I also do not believe the claimant possesses these documents.   No Keeper Liability   5.1        The defendant was not the driver at the time and date mentioned in the PCN and the claimant has not established keeper liability under schedule 4 of the PoFA 2012. In this matter, the defendant puts it to the claimant to produce strict proof as to who was driving at the time.   5.2 The claimant in their Notice To Keeper also failed to comply with PoFA 2012 Schedule 4 section 9[2][f] while mentioning “the right to recover from the keeper so much of that parking charge as remains unpaid” where they did not include statement “(if all the applicable conditions under this Schedule are met)”.     5.3         The claimant did not mention parking period, times on the photographs are separate from the PCN and in any case are that arrival and departure times not the parking period since their times include driving to and from the parking space as a minimum and can include extra time to allow pedestrians and other vehicles to pass in front.    Protection of Freedoms Act 2012   The notice must -   (a) specify the vehicle, the relevant land on which it was parked and the period of parking to which the notice relates;  22. In the persuasive judgement K4GF167G - Premier Park Ltd v Mr Mathur - Horsham County Court – 5 January 2024 it was on this very point that the judge dismissed this claim.  5.4  A the PCN does not comply with the Act the Defendant as keeper is not liable.  No Breach of Contract   6.1       No breach of contract occurred because the PCN and contract provided as part of the defendant’s CPR request shows different post code, PCN shows HA4 0EY while contract shows HA4 0FY. According to PCN defendant parked on HA4 0EY which does not appear to be subject to the postcode covered by the contract.  6.2         The entrance sign does not mention anything about there being other terms inside the car park so does not offer a contract which makes it only an offer to treat,  Interest  7.1  It is unreasonable for the Claimant to delay litigation for  Double Recovery   7.2  The claim is littered with made-up charges.  7.3  As noted above, the Claimant's signs state a £60 charge yet their PCN is for £100.  7.4  As well as the £100 parking charge, the Claimant seeks recovery of an additional £70.  This is simply a poor attempt to circumvent the legal costs cap at small claims.  7.5 Since 2019, many County Courts have considered claims in excess of £100 to be an abuse of process leading to them being struck out ab initio. An example, in the Caernarfon Court in VCS v Davies, case No. FTQZ4W28 on 4th September 2019, District Judge Jones-Evans stated “Upon it being recorded that District Judge Jones- Evans has over a very significant period of time warned advocates (...) in many cases of this nature before this court that their claim for £60 is unenforceable in law and is an abuse of process and is nothing more than a poor attempt to go behind the decision of the Supreme Court v Beavis which inter alia decided that a figure of £160 as a global sum claimed in this case would be a penalty and not a genuine pre-estimate of loss and therefore unenforceable in law and if the practice continued, he would treat all cases as a claim for £160 and therefore a penalty and unenforceable in law it is hereby declared (…) the claim is struck out and declared to be wholly without merit and an abuse of process.”  7.6 In Claim Nos. F0DP806M and F0DP201T, District Judge Taylor echoed earlier General Judgment or Orders of District Judge Grand, stating ''It is ordered that the claim is struck out as an abuse of process. The claim contains a substantial charge additional to the parking charge which it is alleged the Defendant contracted to pay. This additional charge is not recoverabl15e under the Protection of Freedoms Act 2012, Schedule 4 nor with reference to the judgment in Parking Eye v Beavis. It is an abuse of process from the Claimant to issue a knowingly inflated claim for an additional sum which it is not entitled to recover. This order has been made by the court of its own initiative without a hearing pursuant to CPR Rule 3.3(4)) of the Civil Procedure Rules 1998...''  7.7 In the persuasive case of G4QZ465V - Excel Parking Services Ltd v Wilkinson – Bradford County Court -2 July 2020 (Exhibit 4) the judge had decided that Excel had won. However, due to Excel adding on the £60 the Judge dismissed the case.  7.8        The addition of costs not previously specified on signage are also in breach of the Consumer Rights Act 2015, Schedule 2, specifically paras 6, 10 and 14.   7.9        It is the Defendant’s position that the Claimant in this case has knowingly submitted inflated costs and thus the entire claim should be similarly struck out in accordance with Civil Procedure Rule 3.3(4).   In Conclusion   8.1        I invite the court to dismiss the claim.  Statement of Truth  I believe that the facts stated in this witness statement are true. I understand that proceedings for contempt of court may be brought against anyone who makes, or causes to be made, a false statement in a document verified by a statement of truth without an honest belief in its truth.   
    • Well the difference is that in all our other cases It was Kev who was trying to entrap the motorist so sticking two fingers up to him and daring him to try court was from a position of strength. In your case, sorry, you made a mistake so you're not in the position of strength.  I've looked on Google Maps and the signs are few & far between as per Kev's MO, but there is an entrance sign saying "Pay & Display" (and you've admitted in writing that you knew you had to pay) and the signs by the payment machines do say "Sea View Car Park" (and you've admitted in writing you paid the wrong car park ... and maybe outed yourself as the driver). Something I missed in my previous post is that the LoC is only for one ticket, not two. Sorry, but it's impossible to definitively advise what to so. Personally I'd probably gamble on Kev being a serial bottler of court and reply with a snotty letter ridiculing the signage (given you mentioned the signage in your appeal) - but it is a gamble.  
    • No! What has happened is that your pix were up-to-date: 5 hours' maximum stay and £100 PCN. The lazy solicitors have sent ancient pictures: 4 hours' maximum stay and £60 PCN. Don't let on!  Let them be hoisted by their own lazy petard in the court hearing (if they don't bottle before).
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      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

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TXTLOAN CR

You cannot agree with someones personal experience????? so am I a liar then?? what a typical response from a short term lender.

 

Yet another patronising reply if you bothered to read all of what I wrote I did not mean TXT Loan in particular but all short term payday loan companies.

 

You sound like someone who you would phone up an say im having trouble can I pay you in installments please?

 

Your reply

 

" Short-term loans of this description are convenient for covering short-term cashflow problems and should not be seen as a solution to deeper financial issues".

 

The standard payday loan script response.

 

very helpful indeed short term cash flow problems = long term debt if you use these companies.

 

You do appear to reading from a script as you seem unable or unwilling to give us a meaningful response.

 

I really cannot see why you are here.

 

When I get back on my feet and are rid of pay day loans and the like I am going top start a campaign to make them much harder to obtain as they are far to easy for someone to get when they are desperate.

 

 

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Both you and the OFT are incorrect on this matter (and I suspect that the OFT did not check your calculations/guesstimate), the APR is ATLEAST 14000%, but if you would kindly show me how you reached the figure of 994% APR at least I can show you where you are going wrong. Instead of telling me **that** I am wrong, tell me **why** I am wrong? (I have already read the OFT document and it's method produces the same answer, because it is essentially the same.)

 

APR stands for 'Annual Percentage Rate' (see the OFT document), it is the interest that you would pay if you borrowed money from you at your weekly rate of interest with compounded interest for a whole year (as my calculations and the OFT document shows) - hence it is called '**Annual** Percentage Rate' [of interest].

 

I stand by my assertion that the ***APR is over 14000%*** and am waiting for you to provide real mathematical answers as to how you reached the APR of 994% or where my calculations are wrong or an apology and a promise to put up the correct APR on your advertising literature.

 

Can you explain how, for example, www. 1monthloan .co.uk charges 30% a month (i.e. £30 for a £100 loan) and has a (correct) APR of 2900%, yet you charge atleast £40 to borrow £100 for 4 weeks (1 month) yet your advertised APR is 994%? (PS - I am in no way affiliated to 1 month loan .co.uk)

 

Dear d716ag,

 

Unfortunately, calculating APR is a little less straightforward than the method you provided above. Our APR of 994% has been checked and approved by the Office of Fair Trading, which is obviously significantly less than the 14,100% you have suggested. If you want to gain a more accurate understanding of APR and how it is calculated, please refer to the Office of Fair Trading's guide on the subject, which can you find here:

 

http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft144.pdf

(Part II, page 9)

 

With regard to our repayment structure, it is true that interest continues to apply throughout, but that does not mean the outstanding balance will snowball until it reaches ridiculous levels (e.g. £14,100). Our repayment structure, less interest, is outlined below:

 

Day 8- we collect £110, however, if funds are not available;

Day 9- we send first overdue reminder including a £25 administrative and transaction fee, the loan totals £135;

Day 11- if the loan is not paid back in full, we send a second overdue reminder including a £25 administration and transaction fee, loan totals £160;

Day 16- if the loan is not paid back in full, we send a third reminder including a £20 administration and transaction fee, loan totals £180;

Day 23- if the loan is not paid back in full, we send a forth reminder including a £20 administration and transaction fee, loan totals £200;

Day 46- if the loan is not paid back in full, we refer the loan to our Collection Partner which incurs an additional £47 administrative charge and transaction fee.

 

The majority of our customers repay their loans on or before the 8th day.

 

Many regards,

 

TXTLoan Customer Relations

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Thanks for the address is this also the address to send legal papers to, also may i take you name ?????

 

Dear mightyroyals,

 

My role is to address general customer concerns regarding TXTLoan and to provide help if possible, which is why I have put your complaint to management. Where specific issues relating to customer accounts are concerned, however, you ought to contact the Customer Services Team as a public forum is no place to exchange personal details.

 

You can send most forms of correspondence to the aforementioned address in the first instance.

 

Many regards,

 

TXTLoan Customer Relations

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Dear mightyroyals,

 

My role is to address general customer concerns regarding TXTLoan and to provide help if possible, which is why I have put your complaint to management. Where specific issues relating to customer accounts are concerned, however, you ought to contact the Customer Services Team as a public forum is no place to exchange personal details.

 

You can send most forms of correspondence to the aforementioned address in the first instance.

 

Many regards,

 

TXTLoan Customer Relations

 

But you told me to take names of people i spoke to from your company and i am talking to you so i am asking your name you can private message me this then it will be off the public forum, Or is it you are not permitted by txtloans to be here???

 

The plot thickens

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You cannot agree with someones personal experience????? so am I a liar then?? what a typical response from a short term lender.

 

Dear adamski,

 

I have no reason to agree or disagree with your personal experience as this is entirely subjective to you. My comment stated that I cannot agree with your definition of facts as you refer to them because you draw inferences from past experiences and label these as factual. For example, you wrote:

 

more toxic than cigarette smoke, people only turn to you because money is tight at the moment and they are desperate this is a fact as I have had personal experience of pay day / short term loans

 

Disregarding the comment regarding cigarette smoke, many of our customers use TXTLoan because we offer a convenient service - not necessarily because they are desperate. Whether desperation was the reason you used so-called payday loans in the past does not make it a fact that can be applied to all of our customers.

 

if you bothered to read all of what I wrote I did not mean TXT Loan in particular but all short term payday loan companies

 

It would be unnecessary and inappropriate for me to comment on any other lender besides TXTLoan, so I could not be drawn on the subject.

 

Many regards,

 

TXTLoan Customer Relations

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But you told me to take names of people i spoke to from your company and i am talking to you so i am asking your name you can private message me this then it will be off the public forum, Or is it you are not permitted by txtloans to be here???

 

The plot thickens

 

Dear mightyroyals,

 

No thickening of the plot, I'm afraid. As mentioned above, my role is to help and advise in regard to general TXTLoan issues. Specific enquiries relating to a customer account should be addressed to the Customer Services Team. Whenever you call the Customer Services Team, you should note down the name of any person you speak to for your own reference and benefit; however, this excludes my name as it is of no relevance to your complaint.

 

Many regards,

 

TXTLoan Customer Relations

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Dear mightyroyals,

 

No thickening of the plot, I'm afraid. As mentioned above, my role is to help and advise in regard to general TXTLoan issues. Specific enquiries relating to a customer account should be addressed to the Customer Services Team. Whenever you call the Customer Services Team, you should note down the name of any person you speak to for your own reference and benefit; however, this excludes my name as it is of no relevance to your complaint.

 

Many regards,

 

TXTLoan Customer Relations

 

It would help if your customer service team could understand us and we could understand them my Estonian lingo is not great at all

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Disregarding the comment regarding cigarette smoke, many of our customers use TXTLoan because we offer a convenient service - not necessarily because they are desperate. Whether desperation was the reason you used so-called payday loans in the past does not make it a fact that can be applied to all of our customers.

 

That makes no sense at all sorry, but if you need to use your service you have no money zero. zilch nothing, so to describe your service as convienence is total nonsense and you know it

 

 

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  • 2 weeks later...

Dear mightyroyals,

 

Having forwarded your comments on to TXTLoan management, I have received a couple of responses that may be of interest to you.

 

First, TXTLoan would like to make it clear that notice by e-mail is always provided to customers before details of an unpaid balance is passed to a debt collection partner, at which point the £47 charge is added to the outstanding sum. If notice by e-mail has not been sent to a customer, the most obvious reason would be technical error. In order to establish whether any such error occurred in your case, it is necessary for you to contact TXTLoan with your relevant account details. You can do this by sending us an e-mail to [email protected].

 

In regard to the original issue concerning lost or stolen debit cards, I have been advised that, as a relatively young company, TXTLoan has been evaluating its processes in order to identify potential areas of improvement. One such area is that of payment methods, which are obviously limited at the moment. Although TXTLoan has softened its position on customers whose debit cards have been lost or stolen, it is important that credit agreements are honoured. Nevertheless, alternative payment methods and solutions are currently under consideration in order to provide a more effective service to customers. As with all customer enquiries that deal with private account information, it is advisable that you discuss this complaint in more detail by sending us an e-mail to [email protected].

 

Finally, I would suggest that you include the url of this forum discussion (or any individual post therein) in any e-mail you send to us in relation to the aforementioned issues.

 

Many regards,

 

TXTLoan Customer Relations

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Dear txtloan,

 

I am in favour of banning payday loans, and agree with the general notion that you are tempting people who can't get an overdraft with there bank with expensive credit that you havn't really means tested their ability to repay.

 

Would you be will to prove that your buisness model isn't this by providing a rough % of how many loans default, out of the loans that default how many get to day 46? It would also be interesting to know how many % wise of customers borrow week after week?

 

I know that this could be sensative information but I'm asking for % not how much capital you lend.

 

Thank you

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this is some F**king great ****!! payday loan company dealing with customers on a public forum F**king greatttt theyll do anyhting these types of people - txtloan get a grip of yaself, do you really love your job this much? are you happy in your job, being used as a robot , keep repeating s**t and not saying anything outside of the box.....stick to your f**king phone, these forums arnt for creditors to feed customers a pile of s**t wouldnt mind if you were here to help but ur just being a tw@t feeding s**t all your doing is typing some s**t you reading off your little script next to your keyboard ! i dont have a debt with yourselves, never dealt with yas, so this isnt because of personal experience, i just fink you need to go away remove yaself from the forum, because you cant do anything to help anyone here, your as bout as helpful as my dead nan!

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Dear txtloan,

 

I am in favour of banning payday loans, and agree with the general notion that you are tempting people who can't get an overdraft with there bank with expensive credit that you havn't really means tested their ability to repay.

 

Would you be will to prove that your buisness model isn't this by providing a rough % of how many loans default, out of the loans that default how many get to day 46? It would also be interesting to know how many % wise of customers borrow week after week?

 

I know that this could be sensative information but I'm asking for % not how much capital you lend.

 

Thank you

 

Dear ric_pendle,

 

The argument that so-called payday loan providers ought to be banned because they offer credit to those who need it but cannot obtain it elsewhere is somewhat self-defeating. What would such customers do without any available credit? If desperation is the driving incentive to take out a high interest short-term loan, then zero availability of credit is unlikely to remedy the situation.

 

Also, you mention that you agree with the general notion that payday loan providers do not adequately means test their customers' ability to repay. In this respect, I can only comment on TXTLoan's application procedures and not those of any other credit provider, so whether the point is true in a general sense is not something that I can shed light on. Nevertheless, in regard to TXTLoan, we reject approximately 85 per cent of all applicants after credit scoring, which demonstrates our commitment to responsible lending.

 

On the second issue, I do not have the information to hand but can make a request for it. However, due to the sensitive nature of the data, I cannot guarantee that it would be made available on a public forum.

 

Many regards,

 

TXTLoan Customer Relations

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Dear ric_pendle,

 

The argument that so-called payday loan providers ought to be banned because they offer credit to those who need it but cannot obtain it elsewhere is somewhat self-defeating. What would such customers do without any available credit? If desperation is the driving incentive to take out a high interest short-term loan, then zero availability of credit is unlikely to remedy the situation.

 

Also, you mention that you agree with the general notion that payday loan providers do not adequately means test their customers' ability to repay. In this respect, I can only comment on TXTLoan's application procedures and not those of any other credit provider, so whether the point is true in a general sense is not something that I can shed light on. Nevertheless, in regard to TXTLoan, we reject approximately 85 per cent of all applicants after credit scoring, which demonstrates our commitment to responsible lending.

 

On the second issue, I do not have the information to hand but can make a request for it. However, due to the sensitive nature of the data, I cannot guarantee that it would be made available on a public forum.

 

Many regards,

 

TXTLoan Customer Relations

 

How low does your credit score have to be to be rejected?

most people who use your "service" would have a very very low score if not as low as low can be in these matters, im not convinced by what you say in fact I know its simply not true.

 

 

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from your website

As a part of our decision making process, TxtLoan uses comprehensive credit checking systems to make a decision. If you have been declared bankrupt or have been subject of debt collection within the last 18 months your application will be denied. Other than that we will most likely approve your application.

 

I know someone who applied for a loan with yoursleves and had been the subject of intensive debt collection in the last 18 months and was still approved

 

 

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Dear adamski,

 

Once again we appear to be in disagreement over what constitutes a fact. If you are convinced that most of our customers have a credit score that is "as low as low can be" - and you know for a fact that my previous comment on the subject was somehow false - why do you need to ask how low a credit score must be for it to be rejected by us? Surely this is information you already possess in order to construct what you believe to be a fact?

 

In response to your second comment regarding the unnamed person who took out a loan with ourselves, I should note that a history of negative credit activity does not necessarily result in a credit score that is "as low as low can be". In fact, it is often the case that a person who has a chequered but active credit history is scored higher than somebody who has no history at all, so your example does not really satisfy the point you have attempted to make.

 

We are a relatively young company, so our systems and procedures are constantly under review. In regard to our application process, the fact remains that around 85 per cent of applicants are rejected. Although this figure will no doubt change (for better or worse) as our company grows older, it is one that supports our commitment to responsible lending.

 

Many regards,

 

TXTLoan Customer Relations

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what a joke your response is nothing short of yet again being patronising, you have not anwsered the question yet again, you should take up a career in politics.

 

The FACT is that you leant money to someone who had intensive debt collection activity within 18 months yet you still accepted them even though your web site states otherwise, how is that responsible lending?.

 

Anwsers on a postcard!

 

 

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what a joke your response is nothing short of yet again being patronising, you have not anwsered the question yet again, you should take up a career in politics.

 

The FACT is that you leant money to someone who had intensive debt collection activity within 18 months yet you still accepted them even though your web site states otherwise, how is that responsible lending?.

 

Anwsers on a postcard!

 

Dear adamski,

 

You will find that I answered your question. In post #44 you stated that you knew of a person who claimed to have been accepted by us despite being the subject of intensive debt collection activity within the past 18 months. This is not a question. In post #43 you asked how low a credit score had to be for us to reject it, which I answered by reiterating the overriding point that we credit score all applicants, the majority of whom are declined.

 

In respect to your latest question, which asks how accepting an applicant who had been the subject of intensive debt collection activity within the past 18 months could be considered responsible lending, I must point out that I have no details of the unnamed applicant as to be able to make an informed reply. Presumably you have all the necessary information relating to the applicant's credit score, debt history and TXTLoan application in order to support your 'fact'?

 

Many regards,

 

TXTLoan Customer Relations

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In respect to your latest question, which asks how accepting an applicant who had been the subject of intensive debt collectionlink3.gif activity within the past 18 months could be considered responsible lending, I must point out that I have no details of the unnamed applicant as to be able to make an informed reply. Presumably you have all the necessary information relating to the applicant's credit score, debt history and TXTLoan application in order to support your 'fact'?

Yes I do and its a fact you leant money to someone who was at the lowest end of the credit rating scale you will deny it of course but I know it to be 100% true and I have all the facts and figures you will still call me a liar because that the kind of people you are always right never wrong, you and people and companies like yours are so self righteous just because you follow the rule of law you think you are morally right and just in all your actions when you are not..

 

Of course this is an opinion but in my heart I know it to be right, payday loan companies lend irresponsibly the only way to assertain this is for the OFT to investigate you, but of course this will not happen, the only advise that can be given is stay away from short term loans full stop.

 

 

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Yes I do and its a fact you leant money to someone who was at the lowest end of the credit rating scale you will deny it of course but I know it to be 100% true and I have all the facts and figures you will still call me a liar because that the kind of people you are always right never wrong, you and people and companies like yours are so self righteous just because you follow the rule of law you think you are morally right and just in all your actions when you are not...

 

Dear adamski,

 

I have not and will not call you a liar, so there is certainly no need to make any comment to the contrary. If you are somehow in possession of another person's credit profile, debt collection history and TXTLoan application (which is a private document), may I suggest that you encourage the customer in question to send us an e-mail to [email protected] so that the matter can be investigated?

 

As mentioned earlier, TXTLoan is a young company that is constantly reviewing its systems and procedures. If there has been any kind of discrepancy in the application process, we would no doubt want to learn of it.

 

Many regards,

 

TXTLoan Customer Relations

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Dear ric_pendle,

 

The argument that so-called payday loan providers ought to be banned because they offer credit to those who need it but cannot obtain it elsewhere is somewhat self-defeating. What would such customers do without any available credit? If desperation is the driving incentive to take out a high interest short-term loan, then zero availability of credit is unlikely to remedy the situation.

 

Also, you mention that you agree with the general notion that payday loan providers do not adequately means test their customers' ability to repay. In this respect, I can only comment on TXTLoan's application procedures and not those of any other credit provider, so whether the point is true in a general sense is not something that I can shed light on. Nevertheless, in regard to TXTLoan, we reject approximately 85 per cent of all applicants after credit scoring, which demonstrates our commitment to responsible lending.

 

On the second issue, I do not have the information to hand but can make a request for it. However, due to the sensitive nature of the data, I cannot guarantee that it would be made available on a public forum.

 

Many regards,

 

TXTLoan Customer Relations

 

Dear TXTLoan,

 

I'm impressed with your rejection rate of 85%, and did a stint in financial underwriting for credit cards so I agree with you that your lending criteria will evolve and change over time. I'd be interested to know out of the 85% rejection rate, how many were fraudulent transactions, and how many were genuine.

 

The reason I feel payday loans should be banned is like many people on here I've just defaulted on 1 payday loan tomorrow. I've managed to clear the other 2 that I had. I realised very quickly that my wage was being comitted to payday loans. As I am a very good customer, with a strong credit rating as in the past I wasn't so good with credit but I've managed to build a good credit rating back up. I have 1 credit card that I always pay on time so this has helped my credit score. Due to the devil worshiping credit refrence agency holding records for 6 years I have a default that is about to drop off the file so to speak in 2 months. I'm planning to get a current account and a small overdraft so will not be reliant on payday loans when I end up with a hugh bill. The point I'm trying to make about payday loans is, you may have a strict lending criteria but you'll probably be very willing to lend to me, but here is where the system of payday loans falls down. I could then go to 3 other payday lenders who would be very willing to lend me £700 a go. I get £1000 after tax so that's when I'm probably not going to payback these loans, even with just defering.

 

That is a good example of why payday loans should be banned, high street banks would not be allowed to operate in this way, and wouldn't. There are no controls to stop those who you can lend to but don't have self control when applying for credit, and living beyond there means. The other reason is that the people who may, not necesserly use your buisness model but other payday lenders, maybe in a desperate situation or simply don't have self control when it comes to credit and don't take responsibility or control when trying to live within their means. I learnt the hard way but thankfully I'm nearly out of debt.

 

One last thing I would like to add is I think it's brilliant that you are willing to engage on this forum. You should be commended. Other payday lenders like 'wonga' or 'cash till payday' should follow this brilliant example in good customer relations. I also like how you demonstrate the charges and how they mount up over time, but you will not sway me from my stance that payday loans must be banned, it's worrying how the people that are slaves to debt, are those at the bottom.

 

Ric.

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