toothfairy payday loan unfair treatment and threats

[DonkeyB]

OFT "behind the scenes".If it takes you 7 years to suspend a licence and then you only do something because the BBC are going to embarass you 24 hours later.Then all the stuff about legislation which never gets done because Government dont want to help poor people because you would have removed some of the legal obstacles so no Im not impressed with the OFT.

 

Don’t just blame the OFT. Here on CAG we encourage people to complain. The problem is that once CAG has helped them, most of them don’t bother – their job is done, they just slip away, never to be heard from again. Sod anyone else.

 

The OFT has a lot of faults, but it’s people who don’t bother to complain who are the real problem.

[coledog]

Payday loan companies are very high profile at the moment and every complaint counts - do not underestimate this and keep at them

[BRIGADIER2JCS]

Donkey B is right when individuals have been pointed

in the right direction for solving their individual problems

too many do not follw through with actions that may help

others in the future, there are the elements of self help,

being helped and helping others by experience and following

up with complaints.

[Grin74]

Had a response from NDR, referring to the fact the F.S.A had contacted them on my behalf, I am going to reply to see if it is their 'final response', once all the things they say have been digested. The portion I have read says that they carry out their business in an entirely legal way. Just because something is is writing, and you sign it, does not make it legal. They are missing (or rather avoiding) the point. They may carry out certain aspects of their business in an entirely legal way but the manner, wording and claims they make are certainly up for challenging. Send the O.F.T; F.O.S; F.S.A and any other regulatory bodies your complaint. The momentum is there, the publicity is there, we have to keep up the pressure - no level of apathy will achieve this.

[HANLEY40]

Well Done Grin 74, to be honest people defending OFt I have pointed out to these bodies all the laws they have broken and still people turn a blind eye.One person on another thread took them to court and got a Judgement THEN, there should have been a review of their licence but no nothing..

[iaintw]

good luck with your action I know toothfairly has gone too far not soliving ur needs and be a rude people. more complaints more action (i like action)

 

sorry no PM to me because i turn it off.

[HANLEY40]

Just re-reading page 1 of this thread someone posted Oft guidelines about False repesentation..It is taken from the fraud act 2006!.Shame oft Dont act on it.You have inspired me Grin 2012 I will also contact Fsa as a private person and via my radio station.Turning the heat up.Found my statement from OFT they only deal with Consumer groups that have the power to put forward a super injunction they said they will not help an individual.Once i edit personal details i will post their reply on here for you to read.Thought it was time to put my documentary onto I-tunes I will post the link in 4 weeks time.Time to pay a visit to toothfairy with my camera crew unlike them..If I say I am coming..HAPPY NEW YEAR..It will not be for certain organisations.Im tired of this crap.Time to end this noise...

[Grin74]

Not posted in a while.Back up to at least 2 calls a day. May wait til they call me after a few beers and really let rip.No..No..must be professional at all times. Have read an article recently where the OFT literally praise these type of lenders for offering the service they do - so f*ck all chance with them. The F.O.S haven't taken any further action. Lots of media exposure recently and nothing has changed (or likely ever will). Not one of them has ever addressed the real issue namely the threatening, untrue and practically illegal way these companies behave should you fall on hard times unexpectedly. Total cliche but they are, and always will be, legalised loan sharks - very happy to lend when you repay at their extortionate interest rates, extremely threatening of you don't or rather can't.

[sillygirl1]

Don't know what article you have read where the OFT praise these companies, they are doing an in-depth investigation on them at the moment, so a complaint is well received.

 

Can you post a link to said article, as I have not come across an official OFT praise of this type of lending.

[coledog]

There have been a number of 'debates' about Payday loans and high interest rate loans and I seem to remember that one conclusion was that they should stay because they were a protection against vulnerable people getting involved with illegal 'loan sharks' (i.e. replacing these with legal loan sharks presumably)

 

The following article is useful - read the last paragraph were they claim ' only 20 complaints were received'. THIS IS WHY EVERYONE NEEDS TO COMPLAINT TO OFT

 

http://www.ft.com/cms/s/0/6022a824-20f3-11e1-8a43-00144feabdc0.html#axzz1jJtZwsB2

[sillygirl1]

There was another carefully edited article about how CCCS have almost NO customers with payday loans, which we know is BULL, as the PDL companies refuse to co-operate with CCCS, Payplan etc.

 

The article is still incorrect in the assumption that PDL companies protect people from illegal loan sharks - in fact they probably add fuel to the illegal loan shark fire when customers fail to repay.

 

The borrow today pay whenever society is partially to blame, I have lots of things I would like but I am not borrowing any money just to get them, clothes included!

[coledog]

Another useful link to OFT consultation on Debt Collection and INPUT is NEEDED - so respond to this

 

http://www.oft.gov.uk/shared_oft/consultations/OFT1399con.pdf

 

One key paragraph is

 

We are also taking this opportunity to consult on the

specific practice of debiting monies from an account in

the absence of having the express authority to do so

(including under circumstances in which the lender may

have the authority, under a continuous payment authority

or otherwise, to recover monies from another

account(s))

[Grin74]

Although it does state a 'balanced view' it is the last 4 paragraphs that I was on about.

http://www.bbc.co.uk/news/business-16520889

"The Office of Fair Trading (OFT) is clear that lending money to people who will clearly struggle to repay it, or where that product is clearly unsuitable for that individual is irresponsible," a spokesman said.

The government believes that official student loans to eligible English students should cover their tuition costs, and contribute towards their living costs while at university.

Despite the negative publicity surrounding payday loan firms, the OFT has said that payday loans and other high-cost credit businesses - such as pawn brokers or home-credit lenders - should not have their interest charges restricted.

It concluded that they provided a useful service for some people who would not otherwise be able to borrow legitimately and who might thus be forced to borrow from illegal loan sharks.

Yet again, missing the point. The student slant is not relevant to everyone but this is clearly not a particularly negative conclusion. Perhaps if someone at the OFT was getting all the harassment and threats.........

Edited January 14, 2012 by Grin74

[coledog]

Yes - that is quite an old statement. 2010 I think.

 

More recently there has been increased pressure to look again at these companies that is why all complaints and more complaints are needed!!

[HANLEY40]

I agree Grin Had a statement from OFt 2011.It is the reason I have made a documentary for radio nothing will change we just have to make people aware not to go near these scumbags.My Chief Constable wants to help but I pointed out to him I contacted him TWICE, they only want to know I can bypass them and air this on my own media platforms now.Only Labour Mp stella creasy is campaigning with no help from her party.No-one cares about poor people,i have a file with all the criminal offences they have committed so I am just going to put the programme on air it will embarass them but they will get over it.

[Grin74]

Gone very quiet again, on all fronts. Question: If I have told MHB, NDR etc verbally, and in writing, that I want the matter to go to court to decide what is appropriate and that is my final response, can they still keep harassing me twice a day by phone and periodically via email? I was wondering if there is any basis in law to challenge them?

[HANLEY40]

Sorry Grin dont visit here much.My legal action commences week beginning February 20th.I work 50 Hour weeks so dont come on Forum.Harrassment act 1997.Time to contact the police.My local police force want to get involved because I have turned this my trials and tribulations into a Documentary.It will be available via Itunes soon and YouTube.

[Katiekay]

I've owed toothfairyfinance since December. My £300 loan has more than doubled. Recieve texts, phone calls, emails every day. I tried to sort it out with the NDR thy passed it on to, was told I would need to send in proof I had been receiving income support, which I agreed to. Before I could even send the letter in they passed it on to Marshall hoares. NDR threatened me with a CCJ, claiming bailiffs would get a warrant to seize goods of up to 9 times the value etc.

Don't know how they get away with it.

Anyway, I'd rather be taken to court, that way I can pay £5 a month like I've been offering all along, and the bastards can pay the court fees, also the courts tend to go against payday lender as they hav such outrageous interest charges an most of the time will just ask you to pay back what you owe minus the ridiculous interest.

I contacted the OFT thinking they would be able to help but no such luck I'm afraid. I sent them all the emails I had received and explained and got this reply...

 

 

 

Thank you for your complaint about Toothfairy and their associates received on 23 January 2012.

If you require further advice, please contact Consumer Direct (on 08454 04 05 06). Consumer Direct is an advisory service managed by the OFT which offers practical advice on all consumer issues.

*

Unfortunately, because of restrictions imposed upon us by Part 9 of the Enterprise Act 2002, we are unable to give information about any action that may be taken in response to your complaint. The OFT has no authority to become involved in disputes between consumers and traders and so we cannot offer you any direct help with your complaint or advise you directly in this matter.

*

Thank you again for writing to us and bringing this matter to our attention.

*

Yours sincerely

*

David Annis

Enquiries and Reporting Centre

Office of Fair Trading

[coledog]

You have done the right thing by complaining to OFT. They do not deal with individual cases but will investigate these lowlifes if they get enough complaints but are very slow, so keep the complaints going.

 

It is worth a complaint to Consumer Direct and insist that they refer the harassment to Trading Standards who can take action on your behalf.

 

Never speak to Toothfairy or their threat monkeys on the phone - keep everything in writing only. Change your phone number if you can. Send them a formal request for the credit agreement, telling them that you are disputing the amount they are claiming that you owe them. I think that contractually they cannot charge ongoing interest on this and are breaking OFT guidelines if they continue to harass you when you are disputing this. Keep copies of everything and inform them that you have made a reasonable offer of repayment, will pay the original balance plus one months interest only and if they take legal action - you understand that the court will support your efforts to repay. Some template letters below but adapt to your own circumstances.

 

 

CCA Request

 

CCA letter to send with a £1 postal order by recorded delivery, do not sign. They have 12 plus 2 working days to reply. If nothing valid is received you can send a letter to put the account in dispute and this should stop them contacting you.

 

http://www.consumeractiongroup.co.uk/forum/content.php?414-CCA-request-letter

 

Harassment Letter

 

http://www.consumeractiongroup.co.uk/forum/content.php?493-Harassment-by-telephone-response-letter

[coledog]

And there is no need to send them proof of your income, only a court can ask for this. You need to stand up to these bullies as that is all they are!

[HANLEY40]

Trading Standards sent me a statement saying they qwere not going to help.The reason I am doing it myself.

[HANLEY40]

Katiekay.NDR/Marshall Hoares it is all CMS technologies.Toothfairy.Some days I have spoke to the same person pretending to be Ndr one call and marshall Hoares the next.These days they hang up on me!!.I should post my trading standards letter.But Keep me posted.Half-term next week.From Feb 20th lets hope I can make enough noise,because NO-ONE wants to help.

[coledog]

Trading Standards sent me a statement saying they qwere not going to help.The reason I am doing it myself.

 

I would still keep the complaints going TS and OFT can help if they are minded too. Appreciate everything that you are trying to do Hanley and suggest that everyone affected by these stand up to them

[HANLEY40]

As I stated in december on this thread the OFT guidelines are based on the Fraud act 2006 which Toothfairy constantly break.As I pointed out to their solicitor.The ironic thing is Toothfairy HANG UP THE PHONE ON ME..They dont phone anymore thats why from now on I will be going straight for the jugular.As I said in December the university should refund my University fees, this company has committed fraud through their activities and Im tired of OFt and trading standards because they are a waste of skin.Talking to the courts Next week I want action talk is done..

[JESSICA2012]

I am also gettin emails from NDR and the bailiffs, will they actually come to my house? I dont understand how to solve this without just giving in and paying the excess charges?????? :-(