Payday loan help please **

[akania]

Help!!!!

[akania]

Sorry to bump but on the edge of a nervous breakdown !!!

[azzadle]

Hi all

 

This is where im at. Still cant get any joy with MINI Credit, having an absolute nightmare with them. I have set the money aside to pay the origional loan but i cant get their bank details and dont want to pay by debit card as i dont want them to have my details.

 

Fredrickson International are calling me up to 7 timesd at day although they have stopped calling me at work as my boss had a fir at them and i very nearlly lost my job. I have been trying to get hold of their email address as i find talking on the phone to these companies very intimidating but i just cant locate it anywhere. Its not on their letters or website. The only way i can deal with them i think it through 'fredpay' but i havent registered yet as i dont want to do anything wrong.

 

They have now sent me a Letter Before Action telling me if i dont pay within 7 days they are going to take me to court. The amount of the loan has sky rocketed upto ovger £750.00, the original loan only being £300.00. Im really scared and dont know what to do. Shall I ring them? theres no way I can give them £750.00. Shall i register with fredpay and try to come to an arrangement?

 

Please help as i am in a bit of a state here.

 

Thankyou

 

Hi akania,

 

I'm new here but having read up (and being in trouble myself with) these con artists, then I'll try and give you a little advice.

 

First of all don't panic, a company like this isn't likely to go to court over such a small amount - it's not worth their time, but that doesn't mean they won't. As sillygirl said, try and offer them the amount you originally borrowed and see what response you get. Their charges are beyond ridiculous and these "doorstep collectors" must be called Casper because nobody's ever seen them!!

 

In another thread one person has recieved a court claim against her from MC and it's been sat around for a good 4 months now and they haven't heard a peep from them. Just make sure you contact them as best you can and don't bury your head in the sand or worry too much over it (I did in the past, got in way too much trouble) - if you can prove in court that you've made payments, are struggling and have contacted them as best you can without a suitable reply then it'll go against them.

 

OFT guidelines state:

 

h. asking or instructing debtors to make contact on premium rate

telephone numbers.

 

f. pressurising debtors to pay in full, in unreasonably large instalments,

or to increase payments when they are unable to do so

 

e. applying charges which are disproportionate to the main debt.

 

d. applying unreasonable charges, for example, charges not based on actual

and necessary costs

 

That these are unfair practices. If they have imposed all those against you then sit tight and complain to the OFT about it. They'll give you further advice I'm sure

[coffeeangel]

Hey Akania, try to calm down petal. Freds will huff and puff. I've had encounters with them in the past and been threatened with court action but nothing has ever come of it. If it did go to court, you can show that you have been trying to negotiate payment with them and they are just being twats! And I doubt a judge would look favourably on that kind of behaviour and Freds would have to explain themselves as to why they have been so uncooperative!

 

Don't let them intimidate you. Did you complain as SillyGirl suggested? Are they still calling you at work or on a mobile/landline? Have you sent the harrassment by telephone letter RD? If not do it as this will stop the calls or at least the frequency. Send them it to their registered address and send it by fax as well as RD if you can.

 

As already suggested complain! In the meantime relax a little, breath and I'm sure the experienced Caggers will be along soon to help you some more.

 

Chin up petal all is not lost!

 

Coffee

[akania]

Thank you so much for the advice and taking the the time to make me feel better xxxxx

[azzadle]

Thank you so much for the advice and taking the the time to make me feel better xxxxx

 

Seems like a good bunch of people here, that's why I signed up!

 

They're hard to deal with but YOU CAN get through with them, no matter how stubborn they want to be. I've stupidly been involved with these players for a few years, hopefully my hideous past experiences can help a little. I have to admit, I got a bit lairy with MC earlier when trying to sort out my loan with them, some Spanish woman constantly saying "no." gets terribly frustrating..

[coffeeangel]

A very good bunch of people. I tell anyone who has problem to come on here and get advice when all seems lost because it really isn't not with CAG watching your back!

 

So as I said chin up petal, you're in the right place

 

Best,

 

Coffee

[sillygirl1]

With Freds all they want is the money, they are not a good company at all and are hand in hand with another dodgy legal lot, these are easily beaten though.

 

Whatever they say you only owe the original loan amount and one months interest, no set up fees nor fees or charges of any kind.

[sillygirl1]

Freds use Bryan Carter (works from the same offices) he is sent packing by a defence, done it lots of times for people on this forum, if it is Carter Forbes they too back down when defended. There is little to worry about, if they go to court and loose the case they cannot chase again.

[Darren MO]

Do these companies take people to court often? When you pay them the amount owed plus 1 months interest how do they normally react?

[sillygirl1]

Yes they do take people to court, and people on this forum have beaten them in court.

 

Stop worrying and questioning everything and sit back and relax. You are EXACTLY in the position the companies want you to be in and they will pile on the pressure the more you react to them.

[Darren MO]

Yes they do take people to court, and people on this forum have beaten them in court.

 

Stop worrying and questioning everything and sit back and relax. You are EXACTLY in the position the companies want you to be in and they will pile on the pressure the more you react to them.

 

Do they ever win in court? Do you just end up paying back amount plus 1 month anyway? i know i'm questioning alot but i just wanna make sure i know everything i need too and it is hard not to worry

[sillygirl1]

They only win if you do not follow the court procedure and submit a defence.

 

They have been held to the original loan and one months interest in court.

 

You cannot possibly anticipate every move they will make, you will only make yourself very very anxious.

[Darren MO]

They only win if you do not follow the court procedure and submit a defence.

 

They have been held to the original loan and one months interest in court.

 

You cannot possibly anticipate every move they will make, you will only make yourself very very anxious.

 

i know i will.

 

Is that as a rule what courts order though original loan plus one month interest

[sillygirl1]

YES it is a court ruling.

[troughmonster]

HiCan you tell me what part of the law says that they can only claim the original loan and the original interest?I am dealing with three payday loan company debts, and have been told by one of them that they have transferred the debt to Mackenzie Hall, so I'm bracing myself for them to get in touch.If I knew what to quote to these people, I can start fighting to remove the compounded interest and charges from my accounts.ThanksDM

At the end of the day all you owe is the original loan and one months interest, they will pile on fees and charges and they cannot legally do this, they know that but hope to draw in uninformed people. Now you have found CAG you can get out of this mess.

 

Ignore Mackenzie Hall - they have no powers whatsoever and you can report them to East Ayrshire Trading Standards if they phone you (which they love to do), they will threaten (as will other DCAs and the PDL companies themselves) the following

 

Immediate attachment of earnings (not possible in the UK without you defaulting on a court order)

Sending in doorstep field agents or bailiffs (bailiffs cannot use bailiff powers when collecting on common debt unless you have breached a court order)

Immediate issue of court judgement - they can issue the paperwork but it can be defended very simply.

Taking goods up to 9 times the value of the loan - No way....

Phoning employers to tell them you are in debt - complete breach of Data Protection and debt collecting guidelines

 

Basically they will huff and puff and threaten to tear your house down but cant do very much.

 

What you do need to do is get an alternative bank account and have your income paid into that, then you are protected from raids... most of the companies above are guilty of that. Halifax Easycash (signup online), the Co-op or the Post Office are good alternatives. Keep the old account to set up any payment plans and do not give out bank details over the phone.

 

Start complaining about them ringing you at work to

 

Trading Standards (www.tradingstandards.gov.uk)

Office of Fair Trading (www.consumerdirect.gov.uk)

 

They are not allowed to do this if you tell them not to ring, Mackenzie Hall did that to me and said I would loose my job, I pointed out to the guy if I did loose my job I wouldn't be able to make any payments to them - he exploded with rage.

 

You've taken the first steps to getting out of this rut.

 

If it is possible pay one debt off completely this month and leave the others, they will soon come to an agreement with you. Then pay one of next month (its called snowballing and is better than paying a little bit to each).