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Help with a Debt i owe to a payday loan company


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I am copying this from a thread i started on Moneysavingexpert to see if i can get some advice from here also.

 

Hi everyone,

 

I come to you all after advice regarding an amount of money i owe to a company as i simply have no idea what to do and am so stressed with the situation that i dont know where to turn. I am hoping people here will be able to help me sort this out.

 

Ok, so I took out a payday loan with a company approx 6 months ago. The company which i will keep nameless for the time being is not a well known payday loan company but one of the even more sub prime lenders. The loan was for £250. Anyway, as with im sure a lot of people that turn to these forums, one thing leads to another and i am unable to pay the amount back the following month, bury my head in the sand and end up in default.

 

Fast forward a few months and i enter into talks with the company about repaying the loan in installments, they tell me that due to all the costs etc i now owe over £600. I dont think this is great but ok i agree to it because i have to and start repaying. Make a couple of repayments and then miss a payment.

 

Its at this stage that it gets really messy. They take me to court via MoneyClaim online who find in their favour without me even being informed it was happening and now i owe over £1k. I contact the company again who tell me they are happy to continue the repayment program if i pay the first payment immediately which i do.

 

I ask them at the time for them to provide me with a statment of account, along with the total owed, why i owe that amount and what i have paid etc. They do not do this and now we are another month further on. This months payment is due and i ask them to let me have the information before i pay of how much i owe etc and all they will tell me is that it is now over £2k and not provide me with any reasons why it is now this much.

 

I am completely at my wits end with this, i receive threatening emails constantly, even when i am in a repayment program, and feel like i have no idea what i owe and why it is so much. They even send me emails just with screenshots of the MoneyClaim site saying pay now or we are going to apply for baliffs etc etc.

 

Can someone please help me with what i can say to this company so that they have to provide me with the information regarding the amount i owe and then let me know if what they are doing is fair and legal?

 

Im sorry if this is all a bit of a blur, ill answer any questions as we go along and thank you all for your time.

 

UPDATE

 

I tried to give this company another chance to give me the information on what i owed and they have only given me the following information. Does this seem right? it was only on an email not on official paperwork.

 

Court one

 

£293.68 due to be repaid

£15 Late Default Fee

£25 month late default fee

£75 Court Filing Admin Fee

interest£574.64 extra compounded interest from 20/12/2010 to 1/4/2011

court fee £60.00

 

 

court two

 

interest from 1/4/2011 to judgement £458.40

costs for letters text emails £225.00 includes non collection, £25.00 a letter charge(at least 15 letter emails and texts)

Admin and analysis for court £400

 

court fee £60.00

 

I am willing to name the company as i read another thread here about this company but didnt want it to sway opinion but if i need to i will.

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I am willing to name the company as i read another thread here about this company but didnt want it to sway opinion but if i need to i will.

 

I think it would help. Not sure how money claim online works but I am sure you would have had a chance to defend or question the mount.

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Hi,

 

I never got the opportunity to defend myself, apparently i was sent a letter but i did not receive this. After i was told of the action i contacted MCO and received an email back 2 weeks later basically saying sorry your too late to defend as the judgements been entered although you can challenge it at an initial cost of £80 which i didnt have at the time.

 

Regarding the company, it is payday overdraft and Andrew Hart.

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Im not on any benefits and dont qualify for working tax credits so i guess no to low income.

 

It was in April. which is when i entered back into the repayment program but without any confirmation of how much i actually owed, i just didnt want the baliffs etc that were being threatened.

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"interestlink3.gif£574.64 extra compounded interest from 20/12/2010 to 1/4/2011"

 

Surely this can't be legal, looks like lone shark rates. Mind you I saw an advert on TV that boasted a 4000%+ APR. How can that be justified with a base rate of 0.5%, or is that just for interest on savings, and the banks/lenders can charge what they want?

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OK, you need to get back to the court and get them to set an afordable repayment plan, or realistic balance.

 

To be honest this is beyond me, it justs so wrong you could borrow £250 and the courts would ask you to pay back £2K.

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Just to clarify that the court has not told me how much i have to pay. All the numbers i have are from Andrew Hart so i dont even know what the court has said that i have to pay. I have asked for official documentation of it all continuously from PDO and AH but never get given it.

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Have you received anything official from any court at all?

 

or has the 'court information' you refer to all been provided by mr hart?

 

I never received anything official from the court however when i emailed them they did reply acknowledging that the judgement was entered, but this was only the first judgement not the second that is now claimed by them

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I agree that all this smells wrong, and given AH's behaviour as exhibited in the other thread, I wouldn't be inclined to believe anything he tells you. If he refuses to give you details of the court case, you can find out directly from here:

 

http://www.trustonline.org.uk/

 

If there has actually been a case you can get it set aside on the grounds that you did not receive the papers. I wouldn't mind betting that there hasn't been any such case though :rolleyes: In which case you should report him immediately to Trading Standards and the OFT. And don't pay him any money.

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Do as huff&puff suggests.. check trust online, its only £8 and you will know for sure if any judgement has been entered aginst you.

 

As for the email reply from the 'court', where did you find their email address? Was it on the mcol website, or was it on one of the emails from honest andy?

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Go to the police about this, Mr Hart seems to be a man who thinks he can 'take people to court just like that'. I assure you if he has gone to court once over this he cannot go and get a second judgement for a higher amount without the court asking questions.

 

I would check with Registry Trust to see if that is the case, and how much his original judgement was for, the amount he now claims you owe sounds completely wrong, and he can make you bankrupt for any amount over £750.

 

He sounds like somebody to be well avoided.

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I don't like the sound od ''Interest compounded'' this would make

the amounts this moron is claiming virtually infinite.

I usuary definition ''interest,exploitation,extortion,profiteering,!!!

All applicable to Hart

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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This guy should be banned from taking any court action ever again and be treated as a vexatious litigant..Report him to the police and the OFT and Trading standards..he is a menace to society...If he claims any of his companies are linked to a trades standards organization write to them too...Don't pay a single penny till you recieve an official document from which ever court he claims he took you through...

ʎɐqǝ uo pɹɐoqʎǝʞ ɐ ʎnq ı ǝɯıʇ ʇsɐן ǝɥʇ sı sıɥʇ

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subbing also.

Please note that this advice is given informally, without liability and without prejudice. Always seek the advice of an insured qualified professional. All my legal and nonlegal knowledge comes from either here (CAG),my own personal research and experience and/or as the result of necessity as an Employer and Businessman.

 

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