MICROLEND - . Please Help!

[Jamie Kingston]

Hey Steve, good on you. it looks like foxtro had an issue with mini credit not microlend.

[foxtrotoscar]

yes true was minicredit, thanks anyway steve

[Southweststeve]

Good evening.

 

I have had some feedback from The Financial Ombudsman. They have sent a final letter to Microlend. It is as follows....

 

I am writing to set out my assessment of this complaint. In reaching my assessment, I have considered all the evidence and documents that the business and Mr Jameson (Me) have sent us.

 

As I understand it, Mr Jameson's complaint concerns the business' actions in taking monies from his account contrary to an agreement made.

 

Mr Jameson entered into a loan agreement with the business on 2 July 2010. The terms of the agreement outline that the business will obtain the loaned amount from Mr Jameson's debit card on 30 July 2010.

 

The business emailed Mr Jameson on 26 August 2010. It asked Mr Jameson to confirm his card details so that it could collect £75.00 and 3 more payments of £75.00 thereafter.

 

Mr Jameson wrote to the business on 16 September 2010 and asked for an explanation as to why a large amount of money had been taken from his account. Mr Jameson said that an agreement was made whereby he would make four payments in instalments of £75.00. He said however the business obtained £501.00 from his account on 30 August 2010 alongside the instalment of £75.00.

 

Mr Jameson referred his complaint to the Financial Ombudsman Service for independent assessment on 10 November 2010.

 

Having considered all the evidence and circumstances surrounding Mr Jameson's complaint, I am of the opinion that it should be upheld. I shall explain my reasons for taking this view.

 

I am only able to consider Mr Jameson's complaint in relation to the evidence before me and what I believe is likely to have happened in light of the evidence.

 

I do acknowledge that the terms and conditions of the agreement Mr Jameson signed enabled the business to obtain the loaned amount from his debit card on 30 July 2010. However, Mr Jameson has provided evidence of the email correspondence he has had with the business. I have enclosed copies of the emails for your perusal. It would appear that the business asked Mr Jameson on 26 August of what date the next 3 payments of £75.00 should be taken. In response to this, Mr Jameson set out three dates for the instalments to be taken. I can see that the business responded to this email and confirmed it was okay.

 

Based on the email correspondence, it would appear that Mr Jameson provided the business with his card details on the condition that it obtained payments in instalments of £75.00. However, having looked at Mr Jameson's bank statements (copies enclosed) it seems that the business obtained two payments on 30 August 2010 totalling £576.00.

 

Whilst I appreciate that the business' original terms and conditions specified that the loan amount must be repaid on 30 July 2010, it appears from the emails enclosed that a subsequent arrangement was made. Mr Jameson has said that he was required to request this payment arrangement due to being in financial difficulty.

 

Having considered the evidence available, I am of the opinion that Mr Jameson provided his card details on the understanding that the business took payments in instalments of £75.00. In the circumstances therefore, I am not of the opinion that the business has acted reasonably in pbtaining £576.00 from Mr Jameson's account on 30 August 2010.

 

Moreover, when a business is made aware of an individual's financial difficulties, we would expect the business to act positively and sympathetically in the circumstances. Although the business agreed to Mr Jameson's proposals to pay £75.00 instalments, it appears to have acted outside of this arrangement by obtaining £576.00 from the account on one day.

 

Because of this, I am of the opinion that the complaint should succeed.

 

The business outlined in it's email of 2 July 2010 that the repayment amount payable was £325.00. I understand that under the terms of the agreement, charges are payable if the loan is not repaid by 30 July 2010. However, given that I am not of the opinion that the business acted reasonably when obtaining payments from Mr Jameson's account, I am of the view that it should refund the amounts it has taken from Mr Jameson's account less the loan repayment of £325.00.

 

In addition, I am of the opinion that the business should refund interest on the amount to be refunded at 8% simple from 30 August 2010 to the date settlement.

 

If you agree with my conclusions, and are prepared to offer the proposed settlement to Mr Jameson, I would be grateful if you would let me know by 3 June 2011.

 

However, if you disagree with my conclusions, please let me know - also by 3 June 2011 - telling me your reasons, and enclosing any supporting documentation or further evidence that you have not already provided. Could you please let me know now, if you plan to reply fully but do not think you will be able to meet this deadline.

 

As a reminder, you will also have the right to ask an ombudsman to review the case - as the final stage in our process. But in most cases, complaints will not need to be escalated to that level, and can be resolved at an earlier stage

 

 

Pretty good news, I guess. Hopefully a positive outcome can come of this.

 

I will keep you posted.

 

Cheers

[sillygirl1]

Nice one, these PDL companies are NOT above (or beneath) the law and the more it is proven that they are unhelpful and unreliable the more they will become heavily regulated.

 

I would suggest though taking your real name out of the document, just put Mr X as it might help identify you...

[Jamie Kingston]

well done, have they paid you back the money or do they have a time limit on when?

[nataliedickinson]

I know most of these messages are a bit old now but after having such a bad experience with this company I had to rant and hopefully help people having any other problems!

 

Here goes.. I haven't ever applied for a loan with this micro lend company. Never even heard of them. I get a call at work from someone called David, shouting abuse me and saying he wants his money back, saying he knows I know Iv got it and by spending it iv commited theft..! I was instantly confused and didn't have a clue what he was talking about! Asked for more details, whilst checking my online banking at the same time. He continued to speak to me in the most shocking way, I was at work do highly embarrassed! Turns out I once submitted my details to a broker company who had passed them on to various companies and this included micro lend, who accidentally paid £135 into my bank account!!! He was clearly panicking and taking it out on me. I said that I would of course refund any money that wasbt mine, gave him my personal contact details and also clearly asked him to not call my work! Then spoke to nationwide which confirmed the payment could be returned and back with

[nataliedickinson]

Him up to 5 working days. I called to let David know, end of matter... Or so u would think!

 

I have today received the worst harassment possible over the telephone! His refund will hit his account latest this Friday. But that's not good enough for him. If he didn't have it by today he would charge me interest (bearing in mind I have no agreement with this company). He rang my work phone at least 15 times, shooting, calling me names, threatening me. In the end I called the police. They are visiting me tomorrow and I can ensure that I give all dodgy details on this company. I was disgraced by them. If anyone ever considers this company - don't bother! Do not contact MICROLEND or David (if this is his real name) Im not dropping this matter and will be doing my best to write to every place there is to complain about this company!

[lanway]

Is minicredit the same company as microlend?

 

I had the exact same problem with minicredit, they was taking money out of my bank account and I am still getting letters of them. I have since cancelled my bank card so they cannot take anymore.