Minicredit -advice please

[Nicolaarrse7]

Hi people.

 

Thought you might be interested to know my situation with mini-credit.

 

I originally took out £100 loan. My current outstanding balance is £607. I have made many many offers, who h they have declined. I was making headway on the telephone with a 'Manager' called Maria. They have postponed the doorstep collectors (which, after reading all this thread, I can safely assume, don't exist) until the 22nd, due to the fact that I would potentially be phoning them again on 21st, to make another offer to settle the account. However, I can't really afford to loose the money I would pay them. And after reading this thread I am suspicious, to the fact that they will then have my bank details, and because its an agreement over the phone, they may simply take that amoubt, and then continue to take money out of my account until the whole balance is paid off. Which at this moment in time, would cripple me financially. With regards to the original loan amount, I have offered them £245 when the loan stood at 550 and they refused. They wanted at least 270, which I couldn't afford at the time.

 

I have dealt with many pay day loan companies in the past. At least the others retained some kind of professionalism!

 

I am now inclined to sit tight like Delboy01 and wait for court summons, rather than give this lot a penny if my much needed cash right now!

I don't trust a word they say after reading this entire thread.

 

Peace and love

[Delboy01]

Dont give them your account details, ask for their bank details, keep that email and their reply

In fact keep all your communications Email, letters.

I would communicate with them by email. Do you have their email details ???

Talking on the phone creates more pressure and worries.

[mreyn37697]

Hi Mindsurfer

 

any luck with mini credit i rang them saying that i wasn't able to make full payment advised they do not do rollovers and that the 210.00 oweing in 30 days if no payment was made would increase to £600.00 i dont know what to do nor can i pay it

 

Matt

[karlito78]

I'm having a similar problem with this company. However, I'm confident that if they were to take me to court they wold lose and that such an outrageous claim (£600, possibly more now, for a £100 loan. Expecially as i only got £80 anyway due to sneaky charges) would basically prohibit them from having their credit license renewed.

 

Been threatened with the mythical doorstep collector, yet to receive a comical court summons though.

[themadcap]

They may well lose in court but i really don't see how small claims court outcome would have any impact on their credit licence.

I'm having a similar problem with this company. However, I'm confident that if they were to take me to court they wold lose and that such an outrageous claim (£600, possibly more now, for a £100 loan. Expecially as i only got £80 anyway due to sneaky charges) would basically prohibit them from having their credit license renewed.

 

Been threatened with the mythical doorstep collector, yet to receive a comical court summons though.

[karlito78]

They may well lose in court but i really don't see how small claims court outcome would have any impact on their credit licence.

 

Because the authorities will see they are abusing the terms of their license by making absurd claims.

 

It isn't guaranteed that this would happen but what they're asking for makes them no better than a loan shark.

[Nicolaarrse7]

HEY EVERYONE.

 

Thought just update you all and ask a quick question.

 

Has anybody had any doorstep collector visit from Mini-credit? I've now received the letter, with a time frame that the collector may visit! Got the letter delivered today, but apparently they may call between 26th of April and 3rd of May!

 

The letter also stated the threat of Legal action too.

I'm going to sit tight, possibly make them ANOTHER settlement offer next week. I've had no reply to email that I've sent.

I'm not going to be bullied into paying any amount because of a threatening letter, I'm more than happy to settle for a lower, reasonable amount, but I'm also willing to go to court over this debt, because of the underhand tactics, and threatening actions of this company.

 

Please respond at your leisure

[Delboy01]

No doorstep collector called despite 2 threats of it in letters which I have kept. Send the "I do not wish to make an appointment" letter back to them.

[sillygirl1]

Doorstep collectors have no legal right to call on you or collect money from you, they are not even 'employees' of the companies they collect for (in many cases) and they are on a commission basis salary so can be very aggressive. They have no right to come in, 'assess your assets/lifestyle' or demaind you sign anything on the doorstep.

 

You can report them for harrassment to Trading Standards and the Office of Fair Trading for that letter.

[karlito78]

Yeah, just to echo what's already been said.

 

Doorstep collectors have literally no rights whatsoever so don't be bullied by the letter. Also it's illegal, as also been stated.

 

I think these phoney letters instead of real action indicate they know they are on shaky ground.

 

Sit back, enjoy the sunshine and wait for them to be sensible.

[Nicolaarrse7]

Thanks for the quick response Guys. Appreciate it.

[Nicolaarrse7]

Thanks for the quick response Guys. Appreciate it.

[innocentstevie]

Hi guys my loan was £160 its now £910 there is no way i can pay that. Does anyone have the phone numbers? E-mail address and correspondence address for this company?

[sillygirl1]

Pass the details to

 

http://www.consumerdirect.gov.uk and http://www.tradingstandards.gov.uk immediately

 

They CANNOT justify turning £150 into £910, they can make you bankrupt with that amount should they like to try (it will cost them dearly though and they could loose their CCL licence.

 

Their contact details (according to suspect website which doesn't show licence nos or proper address..) are on this link...

 

https://www.minicredit.co.uk/contact

 

Try also reporting them to ripofftipoff.co.uk as they might be able to stop them piling on charges and atrocious interest and fees, they can't do all three as it is unfair in the extreme.

 

Keep everything in email and you will have concrete proof of their attitude. Phone calls won't help and will only cost you money.

[sillygirl1]

Out of interest googling their mailing address brings up an Italian restaurant at the address... another thing to add to the complaint, Microcredit (or Minicredit) doesn't even appear in the search for that address.

[molly74]

Took a £100 loan from this company. Offered them a settlement of £150.00 and have received the following emails from them today... Are they allowed to do this?? Please can someone comment urgently as to where to go from here.... My Hubby getting very stressed and just want to get my mess sorted as soon as so we can get on with our lives... Thanks CAGGERS!!

 

Please read the loan agreement you accepted when taking loan from us. Thank you.

 

Principal: £100

Interest to date: £57,50

First late payment charge: £25 (added 1 day after due date)

Second later payment charge: £55 (added 3 days after due date)

Debt collection charge: -£100 (added 30th of days afte due date)

Total balance today: £237,50

 

We are not able to accept the settlement offer you made however if you make the payment today then we'll remove manual debt recovery charge £100. The settlement balance would be £237,5. This is last offer from us otherwise we'll forward your case to our lega team. Thank you!

 

The charges have been added to the loan balance according to the Loan agreement.

 

 

hi im in the same situation and have been recieving emails as my loan is over due they have added 25 pound charge and a further 55 pound charge... i have offerd a payment plan but they are saying they will keep adding charges untill it is paid off...how did you do with yours did it end up going to court thankyou

[Delboy01]

Hi ( Stupid1 OH here) they issued a court summons back in January, sent the defence in and since then nothing other than the 90p per day mounting up

[sillygirl1]

Contact the court on Monday and ask what is happening, if Minicredit haven't filed their stuff yet then ask for a strike out.

 

They cannot be allowed to abuse the court system.

[Delboy01]

I would need more info on a strikeout. The Court suggested a N244 but said "I dont know what you are gonna put on it". Also there are charges for a N244??

Edited June 18, 2011 by Delboy01

[sillygirl1]

I would phone the court on Monday, I thought a N244 was for a variation, if Minicredit haven't somehow got judgement by default against you through some dodgy means then just ask what the delay is... if it is stayed ask if the daily interest rate is stayed as well.

 

I can help with the N244 - not sure if there is a charge, if you are receiving benefits then you don't pay a fee... I don't know what the fee is but you could check on the court website.

[jannac]

just what im getting from this awful company i paid 60 off a 100 pound loAn but they still added 55 quid in charges the 25 i accept as i was in hospital and was a day late !!! im goping to the financial ombudsman as i think they are just loan sharks. at lesast you got reply i never even got a reply from them

[Fagin61]

Delboy, If you defended, you will have recieved a Question Allocation from the court. If you returned this, then Minicredit will have to of returned their QA in order for the case to continue. You should of been notified by the court if the QA had been recieved.

 

Do as Sillygirl says, phone the court immediatley and give us a update.

[Cash_flo]

Right, also got myself into a right mess with these idiots. I've been reading posts on this forum to try and calm myself down every time I get one of those threats and thought I'd tell you what's happened with me.

Had a £100 loan which is now standing at £586. I have moved back with my parents and the letters have gone to my old flat. The landlord has posted my stuff including a letter dated 2 weeks ago stating that they will now start legal action.

 

How long is it usually before receiving this and getting the summons? I'm trying to stop myself getting a CCJ as my old student bank account expires soon and I will need a decent credit score to have a new account. If I have at least just over a month or two I can probably find the cash to pay it in full on receiving the Summons.

 

My parents are so strict with money. If they found all this out they would go CRAZY. I have 6 other payday loan debts and all of them have agreed to repayment plans.

 

Anyone had offers accepted when the balance is similar to mine? At a stretch I could do £250.

 

Help!!!!! Thanks

[Cash_flo]

Should probably have mentioned that I have also sent several letters, emails and phone calls to no avail.

[sillygirl1]

Under Section 87 of the CCA Act which deals with loans like this you actually owe £100 + ONE MONTHS INTEREST - NOTHING MORE.

 

Complain to the Office of Fair Trading as they are compiling a file on these twits, they continually flout the guidelines on debt collecting.

 

If you feel brave send them an email stating they can have £200 and be done with it.... you do NOT OWE THEM £586. Should it go to court they will be flattened.