money shop , are they able to do this?

[aitch4h]

Unfortunately I have not got the funds in the bank to pay the 600 payday loan with money shop. They banked 2 of the 6 cqs and I delivered a letter to the shop advising change of circumstances and requesting 28 days to put forward a repayment plan.

So far the branch has called a few times and now the head office is calling me too.

I talked to the head office today and they advised that i would be charged 25 pounds for each of the 2 cqs banked so far and they would continue to bank and charge me for the returned cqs until I had filled out a Hardship application pack that could be collected from the local branch.

They also advised that depending on their assessment of my details on the Hardship application that they may not accept my future offers of payment.

 

Please can anyone assist me on the best way to handle?

Thanks

[aitch4h]

does anybody have experience from dealing with money shop & does the hardship package have to be filled out rather than a normal I&E? Thanks

[Ex-MoneyShop]

Hi Aitch4h,

 

I am an ex store manager for the money shop and there normal protocol for hardship cases are to skip your chqs due for banking for 4 days until you bring in your hardship pack this is basically an I&E form wage slips bank statements etc anything you have that can prove there has been a change in your circumstances financially

 

My advice to you if you dont meet the requirements for the hardship is to cancel your debit card as when the chqs bounce they will simply continuously debit your card until all owed funds have been returned!!

[aitch4h]

i picked up the hardship pack. Its a info sheet asking for completed I&E form, aletter from a doctor or employer to support change in circumstances, 2 months bank staements and copies of any bills paid that do not show on the bank statements. Only on receipt of this info will they decide if they can accept an offer or pass me to onto their collections team.

Please can you advise me on next steps? thanks

[Ex-MoneyShop]

If they deem you as a hardship case you will be given an instalment plan which best helps your needs (apparently!) If the deem you are financially stable still (which i warn you they do a lot of people!) then you need to stop your chq book and card before you go any further!! they will continiously rebank chqs and auto debit!!