MICROLEND - . Please Help!

[Southweststeve]

I took out a payday loan from these (Edit)' a few months back. I was unable to make the repayment. There is £280 outstanding to pay, so I arranged with them to pay £75 a month for the next 4 months

 

Last Friday, when I got paid, they took the £75 as requested, however they proceeded to take a further payment of £501. After numerous attempts to contact them, via phone and email, I was put thorugh to someone called 'David'. Apparently he discussed with his underwriter, and came back with the conclusion that he feared that the 'goal-posts would be moved again'

 

Now, he won't give me back the £501 until the rest of the balance is cleared, and kept referring to 'Terms & Conditions'.

 

He took the money in the same manner as if you were to purchase something online. Because of this, and the fact that they are a loan company, the bank will not do anything to help either. No disputes can be raised on this transaction.

 

Now I have no money to pay bills and feed myself. Please, any help would be greatly appreciated

Edited August 31, 2010 by maroondevo52
Removed unsuitable word.

[sillygirl1]

Disputes CAN be raised on this transaction, you use the right of approbation and do a letter to the bank stating that the company had an arrangement for X amount on X day and they have clearly broken the agreement. State that you are now in a case of actual hardship and need to have the money for basic necessities.

 

Go to the police and insist on getting a crime number (tell the police the bank won't let you have your money back unless you have this) and then post back to see what can be done.

Edited August 31, 2010 by saintly_1

[sillygirl1]

You can also set up a good basic online account with the Halifax without a credit check so get that done to get your money paid into that account.

 

I now have a three bank account system, one for bills, one for my rent and house expenses and one my money goes into, that way nobody can walk in and leave me penniless for the month with arrears piling up left, right and centre.

Edited August 31, 2010 by saintly_1

[Southweststeve]

Thank you very much for that. I have taken your advice and will act on it straight away.

 

I just hope this process isn't time consuming

Edited August 31, 2010 by cerberusalert

[Jamie Kingston]

Hello mate. Sorry to hear about it. I got into a dispute with them a few years back and got taken to court and an attachment of earnings against my wages... Not too sure how lucky you'll be to get the money back, it seems as though once it's debited it's done.

 

Moving forward cancel your card because they might continue to try and then make sure never to give them the card details again...

Edited August 31, 2010 by saintly_1

[Southweststeve]

Ok, I have done everything you have advised....

 

I have spoken to the card dispute section of my bank (Santander) and they have told me that because I owe Microlend money, they cannot get involved. It's a dispute between myself and Microlend.

 

I have also said that I intend to go to the police. The bank said that when I do get a crime number, they can push through a dispute, but it is likely that the dispute will get thrown out.

 

The bank have advised me to talk to Trading Standard

Edited August 31, 2010 by saintly_1

[Southweststeve]

Thank you Jamie.

 

I fully intend to get my card cancelled. I cannot afford to be in this situation again. I have spoken to my employers, and they have said that they could possibly help me out in the meantime.

 

I wonder if it is advisable to negotiate with Microlend, and tell them to take the outstanding balance from the £501 and tell them to give me back the rest. But I am very sceptical about them, and I don't trust that they will give the rest back.

 

This fellow, David was utterly patronising and was at one point laughing at my situation. They just don't care.

Edited August 31, 2010 by saintly_1

[Jamie Kingston]

You can try but from my experience, absolute waste of time. Get your card closed and accept it as an expensive lesson. I would try and get the money from your employer - interest free and they aren't thieves!

Edited August 31, 2010 by saintly_1

[lollypops]

Believe me you will not got 1p back off this company! I have an attatchment of earnings from them yet this month they took £680 from my account when I only owe £106 on the order, luckily Lloyds are looking into this and are delaing with the dispute I have also contacted the court about them and am reporting them to wherever I can as they refuse to have any contact with me ( I have an email from them stating this) they will not give you back anything I suggest you try the pilice as I dont see how legally they can take more from your account than is owed by your agreement plus charges etc??

[sillygirl1]

Lollypops you want to raise a complaint with them to the Ministry of Justice for flouting the court order in such a blatant way. They deserve to be closed down immediately - sounds like they are in desparate straits and may not be in a sound financial position if they are 'appropriating' funds in this cavalier manner.

[Southweststeve]

Hey, this is a further update

 

I have made some further enquiries. I have reported Micro Lend to Trading Standards, and sought help from Debt Line. They have both pointed me in the direction of the Financial Ombudsman, who are now acting on my behalf

 

Trading standards have said that Micro Lend have breached the Financial Services (Distance Marketing) Regulations 2004. The Financial Ombudsman have written to them on my behalf, asking for a resolution and their reasons for what they have done. They have advised me to write to them if I haven't had a reply from Micro Lend within a few days. I am going to send them a letter, recorded delivery, so I can see who has signed for it. The FO have said that I need to give them a statutory 8 weeks. If their response isn't acceptable, or I don't receive anything within those 8 weeks, then I have to fill out a complaints form and send it, with all other correspondance and evidence, to the FO.

 

Make a complaint to Trading Standards too, because if they get a certain amount of complaints about the same company, they will fine them, or could even take away their licence to trade!

[Southweststeve]

Lollypops. I have been through exactly the same thing. Micro Lend refuse to engage in dialogue with me. Phone the Financial Ombudsman (0845 080 1800) and they will advise you on what to do, and will write to you on behalf. They will also send you documents to help you. Also report them to Trading Standards

[Jamie Kingston]

I'm really suprised! well done southweststeve, i am still reluctant to believe that it will do much good, but every little helps! keep us posted.

[lollypops]

No as of yet I have not had it back ,my bank will not refund it as they sent the original loan paperwork to say I owed the money (i only owe £106 out of the £530 they took), I have contacted the court to stop the attatchment which they wont however the judge has written a letter for me to say they are entitled to take no more from me than the attatchment which is owing which is £106 and as this legal order is in place they should not access my bank account, he has advised me to take legal advice,

 

I have emailed microlend today giving them 14 days to return the money pwed to me before I report the m to the police for fraudulently accessing my account and take legal advice regarding taking them to court to get my money back, I have also told them I will b going to the papers if they refuse to co-operate.

 

I will not be letting this rest until I have my money back!!

[Southweststeve]

My recorded letter has been signed for by 'D DAVID', which I would imagine is David Greenspan, who works alongside Brian Long. I also know the address they operate from, which appears to be a block of flats, in Barnet.

 

Lollipops, I am interested to find out how you get on. Please keep us updated. If you do go to the papers, I would be happy to join you in doing that, if you wish. If you do need further legal advice, go to the Financial Ombudsman as they seem to know everything and are excellent. I do recommend you reporting these people to Trading Standards. If they get enough complaints, they will be fined heavily, and could also lose their licence to trade.

 

Microlend didn't send me any paperwork, however I do have emails detailing the payment plan we come up with. I got into a spot of bother at work, because they were harassing me through my work's telephones. I believe the total amount I owed on that Friday they took the money was around £280 (David Greenspan wouldn't tell me the amount I owed the company after he took the money) They took £576 on that friday. In total, they have taken around £725 for a £350 loan.

[Jamie Kingston]

did you get a response from them yet?

[Southweststeve]

I too will not rest until I have received the money that they have stolen from me. I don't care how much of my time this takes up, and how long it takes

[Southweststeve]

I haven't had a response from them yet. I have to give Microlend a statutory 8 weeks to respond. If I haven't received a reply within that time, then I have to fill out a complaints form, and attach any evidence (emails, bank statements etc) and send it to the Financial Ombudsman, who will deal with them on my behalf

[Jamie Kingston]

interesting, let us know if you hear anything from them... i would highly doubt it again from reading on these forums that any of these people give a ****, wait the 8 weeks and fill out the complaints form, i'm certain it will get them moving then!! good luck.

[foxtrotoscar]

Hi Guys,

i am going down the same path with these people

 

wonder if you have any advice. i took out a loan with minicredit (microlend uk) last month and have come under financial dificulty and are really finding it hard to pay them back. i have been e-mailing them asking to set up a payment plan but are getting no help back. i asked them to put a hold on all charges and interest but as you can imagine they will not and its going up each day. should i call trading standards? and ombudsmen? any help would be much

appreciated

[Jamie Kingston]

Hello mate, think you've mixed them up, mini credit and micro lend are two different companies... who is it you are having difficulty with??

[foxtrotoscar]

sorry, i mean minicredit (microcredit ltd) different company i take it

[Jamie Kingston]

yes, just saw your new thread, will respond there...

[Southweststeve]

Hey F.O.! Have you tried physically phoning them? You should be put through to either Brian or David. (0845 116 8000) When is your payment due date? Keep all correspondence including what you send.

 

Your best bet would be to seek advice by calling someone like the National Debtline. (0808 808 400) They are very good and pretty much have the answer for everything.

 

Keep us in the loop. I hope I have been of some help

 

Best of luck

[Southweststeve]

Also just to let you all know. The 8 weeks for a reply is now up. A formal complaint has been forwarded to the Financial Ombudsman, who are now investigating