Let the mayhem begin!

[shanticat]

Thanks JGJ, Can't see anything for lending stream...

but have sent them an email in good time

[NoMorePaydayLoans]

Hi there Hope someone can comment quick

I too have probs with some payday loans.

One of them is tower Capital.... dont they send to a Debt collector??

Because they have threatened me that they will sent case to county court now, if they dont recieve minimum token payment. And i can pay them right now..until i get paid.

Reason was i managed to negotiate a deal with them a repayment plan, with no charges. Unfortanly i could not afford anyway last months payment.

 

I know what to do, i am gonna try and settle with them anyway, and see if they can accpet payment later in month.

 

but is it true, will they send this straight to court??? we talk about an amount of under 200£.

I am just worried

Because others i deal with has gone to debt collector. And the same i normal see in this forum.

Could it just be scare tactics?? just i dont wanna gamble on that hehe and just ignore it.....would crush me total if i have to go to court, and my girlfriend finds out :(

[skyblue2027]

no more payday loans - Tower do carry out their threats, i have a claim which i am defending at present.

They are the only PD company that i have had any major problem with.

 

If they do carry out their threat, the court will send you a claim form for judgement. you just need to admit what you owe (normally the amount borrowed plus one month's interest). do not include their ridiculous charges. They will have problems defending their charges in court.

 

Once the court decides on what to pay, you will be given a full month to pay before a judgment is made. If you pay within the month nothing will be recorded on your file.

 

out of interest, how much was the original loan and interest?

[stevemcqueen]

Hi guys,

 

Sorry to jump in on this thread, but I'd appreciate some advice re my pending PayDay Loan (with The Money Shop) :-/

 

Shanticat and co -

 

My £500 Money Shop loan (taken out nearly 2 weeks back), will be due on the 8th July..

 

The Money Shop have confirmed, that they will present the cheques (each for £100) at my bank (A&L) - each seperate cheque, on 8th, 9th, 12th, 13th, and 14th of July..

 

As I'ved written on here last week, I am not going to be able to afford this :-/

 

I've cancelled my cheque guarantee card, and my cheque book too, by phoning the A&L, and reporting it as lost.

 

I've now received my new card / cheque book.

 

My queries are -

 

1/ What are The Money Shop like, when it comes to negotiating?

 

I'm considering letting them know in advance, but after reading some of the tales on here, I don't think the Money Shop will listen to reason.

 

2/ As my cheques were 'guaranteed' by the card, do any of you know whether or not, the cheques will be 'honoured' by the A&L bank?

 

I thought not, as I'd cancelled the cheque book, but obviously, this was a week after I'd written the cheques..

 

Am due to see the CAB about this, and my other £9K of unsecured debt, on Wednesday, which I feel positive about.

 

Any advice re, how to deal with the Money Shop, would be most appreciated.

 

Many Thanks,

 

sm

[shanticat]

Hi Steve,

 

i have no experience with money shop.....

very little knowledge on pay day loans .....yet....will soon find out more as i am about to default.....but i am learning a great deal by reading through various posts here. Am also getting some very good advice and support. I am sure someone will pick up on this and answer for you soon. The main thing is you are taking control now and taking action. Am sure that CAB will be helpful too.

 

Shanti

[cornetgirl]

Money Shop are ok if you make contact with them and negotiate pretty quickly. Don't ignore them - they have a habit of sending postcards that say you owe them money! You should be able to pay your installments at their shops in cash too.

 

Well done for taking action though - welcome to the June group!!

[NoMorePaydayLoans]

no more payday loans - Tower do carry out their threats, i have a claim which i am defending at present.

They are the only PD company that i have had any major problem with.

 

If they do carry out their threat, the court will send you a claim form for judgement. you just need to admit what you owe (normally the amount borrowed plus one month's interest). do not include their ridiculous charges. They will have problems defending their charges in court.

 

Once the court decides on what to pay, you will be given a full month to pay before a judgment is made. If you pay within the month nothing will be recorded on your file.

 

out of interest, how much was the original loan and interest?

 

Hi it was 155£, after some months, they agreed repayment of 40£ a month over 6 months. (240£)

Thats allready more than what they should demand.

I am going to try send the email, where i will ask for ALL charges removed, i dont see its fair with all those ridicelous charges they pull off..... Are they illegal do u know??? (im afraid theyve added even more)

 

But i hope they will accept my offer, i cant see why they would take the hazzel with court and all that.

If i make offer and promise, that i will pay 30£ on friday 26th, then 50£ latest 30th. june (total 80£) , and then settle loan with 75£ next month latest 30th july.

 

Shouldnt i have a good chance for accept for that? should i threaten with that the charges are illegal??

I will off course tell them, that if i fail to pay latest friday, then off course i will accept that they have to send to court, and request the charges?

 

Hope for You input....... also if im to late, and they wont give me the chance, and allready has sent for court? does it mean that i have to go into the court room somewhere? i am shaking and deadnervous for this, as if my girlfriend finds out, she will end our relationship. As i promised i would not mess up with payday loans again

[robjam1969]

Hi mate

 

You can offer but I suspect they will ignore you. Whilst there is no guarantee there is no sign of them taking anyone to court. They can of course hassle you.

 

Their only power over you is threats and embarrasing phone calls.

 

You should probably tell your girlfriend but that is easy for me to say.

[skyblue2027]

Hi it was 155£, after some months, they agreed repayment of 40£ a month over 6 months. (240£)

Thats allready more than what they should demand.

I am going to try send the email, where i will ask for ALL charges removed, i dont see its fair with all those ridicelous charges they pull off..... Are they illegal do u know??? (im afraid theyve added even more)

 

But i hope they will accept my offer, i cant see why they would take the hazzel with court and all that.

If i make offer and promise, that i will pay 30£ on friday 26th, then 50£ latest 30th. june (total 80£) , and then settle loan with 75£ next month latest 30th july.

 

Shouldnt i have a good chance for accept for that? should i threaten with that the charges are illegal??

I will off course tell them, that if i fail to pay latest friday, then off course i will accept that they have to send to court, and request the charges?

 

Hope for You input....... also if im to late, and they wont give me the chance, and allready has sent for court? does it mean that i have to go into the court room somewhere? i am shaking and deadnervous for this, as if my girlfriend finds out, she will end our relationship. As i promised i would not mess up with payday loans again

 

well, my advise is stick to your guns, TC seem to do what they want. If they accept your offer, make sure you set it up by standing oder, remember - all in writing.

 

If they do issue a claim, you have your offer in writing and you can admit the amount you borrowed only plus the original interest minus what you have already paid. In the event of a claim, the judge can confirm what you should pay. whatever is decided you can pay full in a month without a judgement being entered.

 

Tower really are the worst. i have an ongoing claim awaiting small claims (search my thread). throughout support on here i would have thrown the towel in. I absolutely will not now and hope they get some of their own medicine.

 

As for your girlfriend, not for me to say. Perhaps either be honest or tell her its an old ongoing problem.....

 

good luck pal all the same. we all need it!

[NoMorePaydayLoans]

Thank You very much for answer hope i get this correct? if they have issued and sent to court. This will mean i will only recieve letter first etc... and have to send that back. And then await. I should be able to pay the amount latest 30th july if it goes so far. But i will never haver to actually meet up in a court correct? But i hope they will accept my offer, can only be in their interest to give a last chance, so they dont need the hazzle with letting court do it.

But hope You can answer me that it will mainly be trough letters? and not that i actually have to meet in a court room? i understand only in case i ignore letters etc.. and so.

[NoMorePaydayLoans]

oh forgot they answered me earlier from the offer i had allready promised which i could not pay, they said they will need at least token payment straight away..... how much is a token payment? as i have only got like 5£ i could pay tomorrow? But i have money i can pay on friday, so i will try and settle with them this way.... just more if any of you got info on token payments? clearly 5£ will look like an insult. But ill mention that in my email, hopefully it will at least give a sign, that im am honest trying all i can, to get this settled.

[cornetgirl]

Any payment is better than none! Give them only what you can afford to - you need to pay the bills and eat, remember.

[shanticat]

Morning all,

 

Just wanted to keep you updated. This is the week i default with my PDL's

First is today with Wonga.

I sent them my email last night (ahead of time) and this morning got their standard email about them not being able to collect my payment. I simply resent the original email and asked them to read and respond asap. They are telling me that they have added £15 in charges blah blah

No phone calls as yet

 

Lending stream is one of the loans i believe i can pay off without defaulting as it is already set up in 4 installments. As i had to cancel my card, i emailed them asking for their bank details and they have obliged!

[cornetgirl]

Yay! Good on you!!! That is good!

[shanticat]

Update..

have now sent wonga 3 emails offering payment and have heard nothing.

Am assuming they are now thinking that they can ignore me and keep adding fees and interest....

[cornetgirl]

I reckon you could be right on that one!

[Jamie Kingston]

You cant do more than that. Keep a record. I have read that a good way to get Wonga sorted is cc'ing an email to the director [email protected] that should get you an answer. good luck.

[shanticat]

Thanks Jamie.

i have emailed customer care and will try that too

[cornetgirl]

LMK how you get on!

[robjam1969]

Update..

have now sent wonga 3 emails offering payment and have heard nothing.

Am assuming they are now thinking that they can ignore me and keep adding fees and interest....

 

Hi Shaniticat

 

That's Wonga's method. Make sure if Errol Damelin intervenes that his terms are acceptable. Wonga, left to their own devices will normally double loans with charges and interest - doesn't mean you have to agree/pay them.

[shanticat]

Well Errol has had an email now too...with copies of the previous emails to the team@wonga and cutomercare@wonga

I have made myself as clear as possible....i want a repayment plan (the amount i can afford) in writing and i want interest and charges frozen as of today...(being fair, i have included their £15 fee for today)

If they choose to ignore at least i have a record of my intention to pay.

I have also stated that this is my last communication until i get a response......

so watch this space

[cornetgirl]

Oooooh go you! Firm but fair!!!

[shanticat]

Stop press

Have just received a phone call...

maybe my email to Errol worked!!!!

Have been offered a 12 month repayment plan..with interest and fees frozen..and they want to see proof of my change of circumstances!

The 12 payments were not on my terms.....(though the first 3 months were) and he said they could review again after 3 months if needbe

Was told i could pay in over the counter or standing order seeing as i don't have a debit card

Sounded way to good to be true from what i've been hearing!!!

I said i needed to see that all in writing first and then i would decide if to go ahead or not

So lets see if i get such an email and if it's the same proposals....

I do not believe i am obliged to send them any information about my financial circumstances....can anyone confirm please?

[shanticat]

Well...wow!

I am amazed at an outcome...especially with wonga

have just received the email i requested....

have a 12 month plan.....with no interest or further charges

They have also sent me their bank details.....

I feel i should go with this as it is actually reasonable.

 

 

So looks like one down, two more to go!

[robjam1969]

Great stuff

 

They are not entitled to the information but up to you to decide if you want to play ball. You could take the view they are being reasonable and oblige. It can of course be difficult to document a change in circumstances unless you have been made redundant etc.

 

Is the £15 charge the only extra they have added? If so would seem reasonable to me. Hopefully Wonga will make this 12 month repayment option more widely available.

 

You mention the repayment terms are not totally to your liking. Will you be able to keep them up?