Payday Loan Companies - How to deal with them!!! **

[danirobbo1]

I have a loan with Payday Express,wonga, quick quid, and lending stream i think it adds up to about £700.00 i have written to them all but they have written back with charges etc etc i have cancelled my debit card i just wanna start paying them .. i am getting so worried now .. please help! what shall i do next?

 

Thanks

Danielle:(

[mighty sword]

I have a loan with Payday Express,wonga, quick quid, and lending stream i think it adds up to about £700.00 i have written to them all but they have written back with charges etc etc i have cancelled my debit card i just wanna start paying them .. i am getting so worried now .. please help! what shall i do next?

 

Thanks

Danielle:(

 

PM me and i'll give you a hand - don't have time to do it all via messageboards

[WBB]

Hiya. Would really appreciate some help!

 

Had loans with Quickquid and Poundstilpayday. Defaulted on both, dealt with Clarity who have been civil, and accepted £25 per month stepping up by £5 a month at regular intervals.

 

Had a bordering on abusive conversation with Mackenzie Hall re the Quickquid loan. Offered £25 a month as that is all I can afford, and kept going round in circles that they wanted full amount.

 

Following some advice from here I wrote to them asking for a copy of the debt assignment, and received the email below:

 

"We hereby give you notice of the assignment of the debt due to us in respect of the outstanding balance on your QuickQuid loan.

 

Current amount outstanding: xxx

 

This assignment is effective immediately and is entered into between CashEuroNet UK (operating under QuickQuid brand) and Mackenzie Hall Debt Purchase Limited.

 

Mackenzie Hall Debt Purchase Limited will be contacting you directly to introduce its services. All future enquiries and payments concerning your account should be directed to:

 

Mackenzie Hall

58 Portland Street,

KILMARNOCK,

KA1 1JG

Email: [email protected]

 

Phone: (+44) 1563 554 788

 

Sincerely,

 

Pete Ng,

QuickQuid Collections Department

0808 234 4561

[email protected]"

 

I have since received a copy in the post of the original agreement with Quickquid.

 

Should I now be dealing with Mackenzie Hall?

 

Will they take me to court?

 

I want to repay this, but can only afford £25 a month. Should I now be writing with this offer and first payment?

 

Please help. Am worrying myself sick!

[XXXX_1]

Hi all,

My partner has lost job, so I started to taking pay day loans to help me pay my bills etc., basically I'm in pay day loan circle and can't get out of it:/ it's a nightmare... I own about 1500 together, and probably paid already more in interest, rolling over every month. However I can't take this any longer, so I decide to make a payment arrangement with: Wonga, Payday Uk, Poundstillpayday, Mr.Lender, Wagedayadvance, Cash Genie, and Cash Choice.

I'm so embarrassed! Anyway, could any one please help me what should I do first? Should I send a proposal letter and ask for CCA? I am so worried, especially Wonga, as I don't want so big interest being added into my account, I've paid Wonga part of the money I own, however my full amount of about 450 is due on the 4th april (I borrowed from them 350, rollover 3times, so paid 300 for just rolling over, and pay back about 80, and still own 450??!)

I also paid poundstillpayday about 1000 interest during 6 months(loan 450)

I'm in such of mess, and don't know what to do

Please help

Thank you

[robjam1969]

Hi all,

My partner has lost job, so I started to taking pay day loans to help me pay my bills etc., basically I'm in pay day loan circle and can't get out of it:/ it's a nightmare... I own about 1500 together, and probably paid already more in interest, rolling over every month. However I can't take this any longer, so I decide to make a payment arrangement with: Wonga, Payday Uk, Poundstillpayday, Mr.Lender, Wagedayadvance, Cash Genie, and Cash Choice.

I'm so embarrassed! Anyway, could any one please help me what should I do first? Should I send a proposal letter and ask for CCA? I am so worried, especially Wonga, as I don't want so big interest being added into my account, I've paid Wonga part of the money I own, however my full amount of about 450 is due on the 4th april (I borrowed from them 350, rollover 3times, so paid 300 for just rolling over, and pay back about 80, and still own 450??!)

I also paid poundstillpayday about 1000 interest during 6 months(loan 450)

I'm in such of mess, and don't know what to do

Please help

Thank you

 

Hi and welcome to CAG XXX 1

 

It would be worth asking a mod to start you a separate thread

 

Have a good read round these forums and you will see lots of others have been in your position. You need to get off the roll over merry go round. Start by reporting your card lost/stolen and cancel any direct debits. To be honest a new account would be a good idea to be totally safe. You can then negotiate with each company in writing and you will be back in control.

 

They will all hassle you but they can be dealt with. Lots of info in the forums about all of the lenders you mention.

 

Good luck and keep posting

[bottlerocket]

Call me crazy but I've had a thought of how to deal with payday loan companies!

 

We research all the terms and conditions fully and make sure we understand before accepting them. We then only take out the amount we need and are sure we can pay back, we then pay back that amount when we say we will.

 

Or is it better to take their money, not pay them back when we say they will and then moan on forums when they say they want their money back.

 

I make sure I only take what I need, I've only taken two out - one with Quick Quid, one with Toothfairy Finance. I paid back on time, and I've never had grief off of them since.

[alisono]

Hi, Be very careful with Wonga, Thery use your cards fraudulently I had a loan with them and missed the date to repay by 2 days, this is what happened, I gave my credit card to pay it off to their office staff, who promptly repaid my loan, but then the guy used my debit card to buy himself $879.00 personal DVD unit for his car head rests from the USA shipped in his name to an address in Shepherds bush. I ened up with the fraud department in Nat West London and the police. I only found out as I looked on online banking and rang the company in the US who had to give me the shipping details.

On another matter I had a loan with Swift Money, they have tried 2 Debt collection agencys now one in Wigan Greenhalgh Solicitors whom I CCA ansd got nothing for 6 weeks then an unsigned agreement that stated it was signed. This has now moved onto Grovensor Bailffs in Sheffield who I CCA again then waited nothing this was October last year in December I sent a letter gfiving them 14 days nothing, this week I receive an unsigned CCA again.. What do you suggest I do now....

[robjam1969]

Call me crazy but I've had a thought of how to deal with payday loan companies!

 

We research all the terms and conditions fully and make sure we understand before accepting them. We then only take out the amount we need and are sure we can pay back, we then pay back that amount when we say we will.

 

Or is it better to take their money, not pay them back when we say they will and then moan on forums when they say they want their money back.

 

I make sure I only take what I need, I've only taken two out - one with Quick Quid, one with Toothfairy Finance. I paid back on time, and I've never had grief off of them since.

 

We are all entitled to an opinion. If only life was as simple as you suggest - for example what about illness/redundancy etc. You make the assumption that everyone doesn't want to pay these companies back.

[bottlerocket]

It's hard to make any other assumption when a lot of the threads I have read involve people stating they have defaulted on their loans because they are of the belief that paying off the interest after rolling over a certain amount of months clears them from having to pay back the original loan.

 

What astounds me is that some posters have said they have simply defaulted on their loans instead of contacting the companies to attempt to arrange payment plans. Granted, not every company contacted - or even every person in that company - will be interested in arranging payment plans but surely it is more likely to help than simply refusing to pay back the loan and then running around in circles claiming harassment when they are contacted requesting repayment.

[andy07]

Call me crazy but I've had a thought of how to deal with payday loan companies!

 

We research all the terms and conditions fully and make sure we understand before accepting them. We then only take out the amount we need and are sure we can pay back, we then pay back that amount when we say we will.

 

Or is it better to take their money, not pay them back when we say they will and then moan on forums when they say they want their money back.

 

I make sure I only take what I need, I've only taken two out - one with Quick Quid, one with Toothfairy Finance. I paid back on time, and I've never had grief off of them since.

 

 

Ok crazy lol just kidding, the reason that these companys get such bad press especially on here is that they fall into the category of the old style money lender, the reason they get business is because most reputable lenders do have some scruples and follow certain guidelines on being a responsible lender, these companys dont there are no credit checks with alot of them. Their intention is that you dont pay them back and in your situation they were probably gutted when you payed the full amount back with only one months charge, if every one did that they wouldnt be around for long

To put the boot on the other foot if some one came up to you in the street and asked you to lend them £150 on the promise they will give you £200 back and you did no checks on them etc would you be suprised when you didnt get your money back.......

And also threats of sending people round etc when people call to try to arrange an amicable settlement...... my heart goes out to them, how badly we are treating them when all they want to do is earn a crust from the people that cant really afford it

[lostinspace1000]

bottleboy, you paid off your loans...well done....you want a banana...its not that easy for everyone else, things happen. these payday loan companies aren't interested in folks paying of their loan their main mechanism of profit is defaults.

[XXXX_1]

That's right, Live is not so easy otherwise we wouldn't be on this forum, lol Thank you for reply and for cheering me up...I have an another account that they don't know about, so I will report my card as a stolen on Monday.I have some letters ready for them, so I will request a copy of my credit agreement and all details,such as APR and sum own to them & a explanation that I'm having difficulties paying... and that I will contact them with proposal arrangement as soon as I received a letter back from all my creditors (payday loans). Hope this will work as I'm sicking of this never ending interest and roll-overs.

[skyblue2027]

maybe a silly question, if you CCA and get a copy of the agreement back - if it is a typed signature is that legal?normally wet (pen) signatures are legal. am i correct?

[XXXX_1]

I don't know yet Sky Blue,I'll wait first how many of them will reply:confused: then I will contact a CCCS or National Debt Line toi check if this agreement is legal hun.

Let you all now asap:)

[Little Lady81]

I've been reading this discussion with interest due to my situation with Pounds till payday. I am currently receiving numerous urgent voicemail and text messages from them despite the fact I have emailed them to offer payment and explain my circumstances.

 

I have had to cancel my direct debits due to a change in my financial situation and have had loans with this company on and off for approx the past 3/4 years (yes silly me I know but once you start it is a very quick downwards spiral) and this is the first time I have had to do this. I dare not think about the interest I have paid over this time period.

 

Anyway, I do intend to pay them and I am in the process of getting together a financial statement detailing my situation and make smaller more manageable payments to them - I also want to get out of this endless cycle of borrowing with them.

 

I am puzzled though as when I rung my bank they said that although PTP have been collecting regular direct debits from my account there is no actual direct debit set up. Does anyone know if this goes against banking regulations or the direct debit regulation scheme?

 

Any help/advice or template letters would be gratefully receive as I need to try and find some light out of this very dark tunnel. Or should I do a CCA request with them due to the amount of time I have been loaning with them?

 

Thanks

[XXXX_1]

Hi Little Lady and welcome Hun,

Oh my God, you have paid this people a lot more money than you borrowed... You should ring up the national helpline or citizen advice b. to discuss an option of settlement account in full - writing off this loan, you have done the right step, but to be honest with you, pay day loan companies just taking money from your account without your permission if you don't pay on time, even if you cancel a direct debit... I don't think that it's legal, but they do anyway, so the best option now is to closed your old account and open another one. Hope this will help. My partner s had a loan with poundstillpayday and we s had a direct debit set up, however I have closed my account and I've canceled all direct debits, now I'm about to send them a letter but I'm so scared...

[Little Lady81]

Thanks for the advice XXX1. I will do.

 

It's a minefield of how to deal with them. Good luck with the letter hun. I'm just getting together mine too.

[WBB]

In response to the comment from a poster further up, I tried to negotiate with Quickquid direct, but they wouldn't accept anything but full payment.

 

Can anyone help me with next steps?

[Little Lady81]

Hi WBB,

 

Have you tried speaking to Consumer Credit Councilling Service or Citizens Advice - maybe they could advise you of the next steps? In the interim I would write Quick Quid a letter explaining financial circumstances etc and make and offer of payment in the letter and ask them to freeze interest and charges thats if it then does come to worse case scenario (court as they seem to threaten in some cases) the judge can see you have been reasonable in trying to make an offer and probably would take a dim view on a) The company taking it to court when you have taken reasonable steps to negotiate and b) The interest these type of companies charge in the first place. Good Luck.

 

Just going back to PTP I'm a bit worried too as when I first loaned with them they took phone numbers for two of my friends - I would die of humililiation if they contacted them. Has anyone else heard them contacting friends?

 

Just want to say that although I have only been on here a few days I have found a lot of helpful information in how to start dealing with financial problems head on rather than just burying my head in the sand and borrowing more and more and sinking deeper into despair so Thanks everyone who has responded to my posts so far.

[Little Lady81]

Just a quick update, I have received the below email from PTP following my emailing advising of a payment offer....should I just continue to stand my ground and waiting until it goes to Clarity if that is the way forward.

 

Dear Ms ****

Thank you for your email.

We acknowledge receipt of your e-mail which we have forwarded to our

Payment Services Department for their attention.

Kindly note that Payment Services are only available via phone and would not be

able to answer queries via email therefore we encourage a call to them at your

earliest convenience on their freephone number 0800 234 69 55, their hours of

operation are 8am to 8pm Monday to Friday.

Thank you for choosing PoundsTillPayday.co.uk

Kind regards,

Shorona

Customer Care Representative

[hotscot1983]

Good afternoon guys been reading most of the comments on here, and i'm having the same problems. I had payday loans out with Pounds Till Payday and QuickQuid, which I defaulted on in November. I told them in advance that I was unable to make the repayment date. Anyway, for a few months I was playing email ping pong with Pounds Till Payday (I refused from the start to answer any telephone calls from them and told them that I would only deal with them via email or letter - after a few days they took the hint). Anyway, Pounds Till Payday has now been passed to Clarity and I am having no problems dealing with them at all and they accepted my first repayment offer (which was considerably lower than I could afford - I thought I would chance it, and low and behold, they accepted). Quite pleased with the outcome of that one.

 

Now, onto QuickSqid..... from the start they have been considerably more difficult to deal with. Again, I insisted that all communication be kept in writing etc. They gave me the odd call, but nothing so bad. Again, the email ping pong went on and on for a few weeks. I told them my situation, I offered them a 6 months repayment plan which they rejected 5/6 times, each time sending me one generic email after another. Then I sent an email telling them my concerns about the way my case was being handled, and that I felt that they were not listening to me, I demanded an appropriate reply and not another generic email. All the time my repayment plan was rejected..... i refused to budge, purely because of their attitude. 2 Weeks ago ~(bear in mind this has been ongoing since November) - I decided to send them a CCA request, using the template on here. I sent it with recorded delivery. The next day an email arrived, and I told them to look and they would see that I had made a CCA request, they told me that my CCA was available online on my account, which I told them (lie) that I couldnt access and demanded that they send me it in writing, as requested. Today is the deadline for this request to be met. So, today I received an email from Quickquid telling me that my account had been passed to Mackenzie Hall. I replied and told them that I thought this was Illegal as they have failed to supply me with my CCA. (Forgot to mention that 2 weeks ago, I also sent an email to the Financial Ombudsmen Service and copied QuickQuid into it to make a complaint against them - and again, I have not had any reply to this from QQ). Anyway, I again demanded a reply from QQ as to why my debt was passed onto MH without them providing me with the CCA, and also pointing out that they were in breach of the CCA in their failure to provide me a copy. They make me so angry........

 

So today I called Mackenzie Hall, told the operative my postcode etc, and she told me that I wasn't on their system.....

 

Will keep you updated, but does anyone else have any ideas on what my next step should be?!? Thanks guys..... this website has proved invaluable for me...... and I hope for many others as well.

[XXXX_1]

Hotscot, Hun they always going to mess with you, until you show them whose the boss! Do not stop, just request another CCA and clearly say that you will not take any responsibility to pay back if they fail to provide you with your credit agreement, make sure to put this in writing and say that they have to reply within 14days (12+2); Little Lady, do not talk with them via phone, send them an email or letter that you'll only deal with them "IN WRITING'', and that is your legal right to do so. That's what I would do. Hope you will keep me updated with everything, as I'm just about to default my repayment next week and take an action in my hands, enough is enough and I'm not going to pay them any more money, I've made a huge mistake taking loans with them but I'm not going to do it again

[hotscot1983]

Thanks XXXX..... I was totally livid tonight. I came home and had an email from MacKenzie Hall asking me to call them, so I called them. Anyway I told MacKenzie Hall (MH) that QuickQuid had actually broken the law as I have an outstanding CCA request. The call started fairly pleasant, but then the girl on the phone started to push and push me. I told her that not only do I have an outstanding CCA request, but that I have reported QuickQuid to the authorities, and that I would be following up my complaint by including the fact that they have now sent my account to a DCA while in dispute. The girl starter to get argumentative, and asking me details about my job etc, I told her the company I worked for etc, and she said "oh well they are known to be good payers".... I was like who the hell are you to assume what I get paid or not etc, they have no idea of my income and outgoings..... that ticked me off. Anyway, MH told me that they would send me a copy of my CCA. When the call finished, I thought, no wait a minute, so sent an email to QuickQuid and MH:

 

Dear QuickQuid/MacKenzie Hall,

 

I would like to refer you both to the Consumer Credit Act Section 78 (6) which states:

 

If the creditor fails to comply with Subsection (1)

 

(a) He is not entitled , while the default continues, to enforce the agreement.

 

Please can you explain to me why my account has been sent to MacKenzie Hall when there is an outstanding dispute in the form of a Consumer Credit Agreement request. The 14 day period to supply me the CCA has now passed. Failure to supply me with the requested information means that my account has become unenforceable at law. I called MacKenzie Hall this evening and informed the operative, who agreed with me, that by passing my account onto MacKenzie Hall is unlawful and against the CCA 1974. The operative at MacKenzie Hall informed me that QuickQuid are an American Company, but that is no excuse for them to do this to simply state they are American and possibly do not know UK legislation. QuickQuid operate and are licensed in the UK, and as such, must comply and adhere to the Laws of the UK. I will be reporting this to the relevant authorities tomorrow, when I make another complaint against QuickQuid.

 

As you have failed to comply with a lawful request for a true copy of the said agreement and other relevant documents mentioned in it, failed to send a full statement of the account and failed to provide any of the documentation requested. You will also be aware of the CPUTR 2008 and the OFT's guidelines on debt collection which state under the title Deceptive and/or unfair methods - Examples of unfair practices are as follows - 2.8

 

(i) - 'Failing to investigate and/or provide details as appropriate, when a debt is queried or disputed, possibly resulting in debtors being wrongly pursued'

 

(k) - 'Not ceasing collection activity whilst investigating a reasonable queried or disputed debt'

 

Furthermore I shall counterclaim that any such action constitutes unlawful harassment.

 

Please note you may also consider this letter as a statutory notice under section 10 of the Data Protection Act to cease processing any data in relation to this account with immediate effect.

 

This means you must remove all information regarding this account from your own internal records.

Should you refuse to comply, you must within 21 days provide me with a detailed breakdown of your reasoning behind continuing to process my data.

 

It is not sufficient to simply state that you have a ‘legal right’; You must outline your reasoning in this matter and state upon which legislation this reasoning depends.

 

Should you not respond within 14 days I expect that this means you agree to remove all such data.

 

Furthermore you should be aware that a creditor is not permitted to take ANY action against an account whilst it remains in dispute.

 

The lack of a credit agreement is a very clear dispute and as such the following applies.

 

* You may not demand any payment on the account, nor am I obliged to offer any payment to you.

* You may not add further interest or any charges to the account.

*** You may not pass the account to a third party***

* You may not register any information in respect of the account with any credit reference agency.

* You may not issue a default notice related to the account.

 

I reserve the right to report your actions to any such regulatory authorities as I see fit.

You have 14 days from receiving this letter to contact me with your intentions to resolve this matter which is now a formal complaint. I will not accept a CCA from MacKenzie Hall, as this request was made to QuickQuid, and I have no legal obligation to respond to any collection procedures from MacKenzie Hall in this time. May I suggest that MacKenzie Hall kindly pass my account back to QuickQuid, as they had no legal rite to sell this debt to you.

 

I would appreciate your due diligence in this matter.

 

I look forward to hearing from you in writing.

 

Yours faithfully

 

MH asked me to make payment over 2 months, and I said well what happens if i cant do that, she told me they would go for an attachment of earnings, which I told her they would need to go to court to do. She started spouting on about the loan being a 30 day loan etc, why did i agree to it!! Dunno what I should do with this one now..... I've heard MH are a nightmare to deal with. At the end of the day my original hometown is in Scotland, not so far from their HQ hehehehehe! BUt seriously, stressing a bit about them

[XXXX_1]

No worries hotscot there is nothing they can do before they provide you with your request, anyway they probably wouldn't risk to go to the court as they APR are so high and many people is struggling to pay them back,I believe it's not only me& you...

Just wait for the reply, and do not answer any phone calls from them, but if you do, just say that you will only deal with them in writing, and that's your legal right to do...

They can't take any money from your wages, even if you're very outstanding with the rent and council tax it is very hard for any creditors to get permission to take money from people wages, so how the hell they can? they just playing on your nerves...be strong!

[XXXX_1]

Hotscot, could you please be able to give me an example of CCA request you've send to them, I have mine from national debt helpline but I just wanted to compare if I haven't enclosed any important information in it...

Thanks

Kind Regards...