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Payday Loan trouble - need help/advice **


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Arrears Amount : 465.00

 

Despite our previous communication, your account remains in arrears.

 

Unless you contact us within three days to arrange repayment this matter will be referred to our collections dept. Their procedure will include:-

 

1) instructing a debt collection agency, MeritForce, to make contact with you directly in order to visit you at your home or place of work.

 

2) commencing proceedings against you in the County Court. There will be significant additional charges should this become necessary and your credit status will be at risk. In addition we may also apply to your bank for the entire balance outstanding on your next payday, if this payment is not honoured your bank may also impose charges.

 

If you are in financial difficulty it is important that you contact us now and we will do our best to assist you.

 

I strongly urge you to make contact today either by email or by telephone on 0800 328 9263 before further action is required.

 

A fee of £10 has been added to your account.

 

Regards

Uncle Buck

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Further to your email, all repayment arrangements need to be discussed via the telephone as arrangements are not made via email. Your account has been held until the 21st of October to receive a completed income & expenditure & proof of any change in circumstances.

Due to the fact that the loan had been taken on the 27th of August, & these type of loans are not designed as a solution to long term financial difficulties I will have to advise you that the minimum repayment on this account & the balance of £600 is £70 per month. Unless your financial statements proves that this is not a feasible arrangement that you can commit to.

 

Regards

 

 

any ideas where i go next with these??

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from what i understand £70.00 per month isnt a bad offer, but the balance of £600 - i would dispute that first. It doesnt harm to phone them as long as you have eveyrthing written once agreeed. It could actually be a good thing and help to sort out quickly with minimal charges...

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Things are moving along at last. Had interest and charges frozen and payment offers accepted by Uncle Buck, Mr Lender, Safeloans and TXTLOAN.

 

Lendingstream, payday uk and paydayexpress completely ignoring my emails choosing instead to call me and leave mssages at home and on mobile.

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GOT THIS FROM PAYDAY EXPRESS

 

Thank you for your recent email with reference to repayment.

In order to consider setting a repayment arrangement on your account we will need you to provide a breakdown of your income and expenditure, proof of the change in your financial situation since taking out the loan, and a list of creditors, along with an offer of repayment.

 

Unfortunately we are unable to hold your account to wait for these documents as it was previously held, and no proof was received. I urge you to send this to us as soon as possible to avoid further charges on your account

 

ARE THEY ENTITLED TO ANYTHING THEY REQUEST HERE. I'M CONCERNED CHARGES ARE CONTINUING TO BE ADDED ON MY ACCOUNT.

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^^thanks

 

Another creditor has come back to me saying they don't give out their bank detials for security reasons and I must give them card details. No way am I going to do that and they've already accepted my pay offer in writing so what shall I say next?

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jk1961, I had similar problem, I just told them (and you may have to repeat several times as they dont listen) that you DO NOT have an active bank account or debit card, and that you are not willing to disclose any new account details because of unauthorised access on your previous account.

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^^thanks

 

Another creditor has come back to me saying they don't give out their bank detials for security reasons and I must give them card details. No way am I going to do that and they've already accepted my pay offer in writing so what shall I say next?

 

Do not give them your new card details, I take it it is a new account?? Pester them regularly and point out that they are deliberately delaying payment. Ask them to send you a Paypal link if they have one. But beware of the amount to pay on the link, one company tried to sneak the full amount on the link.

www.bellyup4blues.com Just Go There !!!

 

Woolwich Prelim Sent 5.12.2006 !!!

S.A.R - (Subject Access Request) sent 22.12.2006 (yeah I know)

16.1.2007 £1000 offer rejected

LBA sent 31.1.2007

N1 presented to Court 15.2.2007

Won / Settled 2 days before court date

£5200 plus int charges returned.

 

All and Leics S.A.R - (Subject Access Request) sent 22.12.2006

2nd S.A.R - (Subject Access Request) sent 15.1.2007

Statements received

Prelim sent 31.1.2007

LBA Sent 15.2.2007

Won £1500 on receiving court date..

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yeah it's a new a/c no way am I giving them the card details!

 

Conmpany is TXTLOAN.

 

Also paydayuk sent me a letter saying i'[ve failed to contact them blah blah despite the numeorus emails i've sent and they've even replied to. On this letter are there bank details, does anyone recommend I pay the £40pm i've offered into that a/c despite them so far not agreeing to any payment plan? I don't really want to pay them £40 only for them to say that's coming off the interest I owe and not the balance.

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They cannot take a part payment against the interest, it HAS to come from the balance, otherwise it comes under the unfair terms and conditions, that is where Welcome Finance came unstuck.

 

As for sending an agent to your place of work, that is a very big NO NO, Meritforce has no authority to collect money from you on the doorstep and they can be told to bog off. If they come to your workplace that is blatant harrassment, as are calls to work.

 

Report all parties to Trading Standards, Information Commissioner and Ministry of Justice.

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  • 1 month later...

OK today I am scheduled to make some monthly payments but I don't have the money and therefore will default. Does anyone recommend me paying say £5 to each rather than nothing and maybe a letter I can send them to explaining what i've done?

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Nope, if you pay £5 to each they will have your bank details, nce you have defaulted you can argue the 'original loan sum plus one months interest' and stick to that. If it went to court due to the high interest rate and the poor terms and conditions and the fact they load charges on unnecessarily this is what you could expect to counter against any claim (I have a very good basic defence for this type of loan, doesn't give them ANY counter arguement).

 

Keep everything in email, even if they say they can only deal in telephone, you need to state, "telephone calls are automatically recorded and will be used as evidence of contact should court proceedings be instigated".

 

Can you pay any one company back in its entirety, arguing against the rollover fee as you have already rolled over....

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  • 8 months later...

Hello all today I have seen that despite me cancelling my card ageas ago that £200 has been taken by the money shop today. I spoke to Barclays and they say as they are a financial company me cancelling my card makes no difference at all and that they can take the money if it's owed to them?

 

I am astounded that is the case, are they right?

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Hello all today I have seen that despite me cancelling my card ageas ago that £200 has been taken by the money shop today. I spoke to Barclays and they say as they are a financial company me cancelling my card makes no difference at all and that they can take the money if it's owed to them?

 

I am astounded that is the case, are they right?

 

I believe that they can still take payment if your initial agreement included 'continuous authority'. This means that even if you cancel your card, they can still take payment against it as they use a special code that allows the bank to authorise it still. This is why many people advise that you change bank accounts.

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yep, you need to use another account and make sure your bank know you withdraw the other companies authority to take money as you are making other payment arrangements.

If you need Txt loan bank details, have got them.

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The other account HAS to be with a different bank, Halifax Easycash (sign up online), Co-op and the Post Office are all good options.

 

If you do it with the same bank they will simply allow anyone who had access to your old account access the new one, (its buried in their terms and conditions). Not very correct in many ways but then have banks ever been honest with OUR money?

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