Basic rules when dealing with PayDayLoan Companies.

[maroondevo52]

1. Change to a new bank account completely

2. Do not talk to them on the phone

3. Keep everything in a file on the company in date order

4. Keep all communications in writing, posted and sent recorded delivery always keeping a copy.

5. When experiencing non cooperation, request a copy of the PayDayLoan Companies complaints procedure.

6. Reply to all mail with a repeated offer based on original loan.

7. Get a prepaid card to make payments to them, always check the terms and conditions, also remember that most have minimum loading limits.

8. They all work in a similar way so stick to the above for each

 

Remind the PayDayLoan Company of their obligations to help under the Consumer Finance Association Short Term Loans Code of Practice

 

http://www.cfa-uk.co.uk/codeofpractice.asp

Edited January 20, 2012 by MARTIN3030

[MrTSmith]

Why do you have to get a new bank account? Why not just cancel the direct debits and get a new debit card?

[indebt00]

because some/most payday loan companies can still get hold of your bank account details, as and when they like x

[asmilecostsnothing]

I'd like to know how do they get round this if there has been an agreement put in place in writing ?There are still a number of PDL companies out there who won't give their bank details which is very hard, cause most people who are in debt are also unable to write cheques even as another form of payment !!!

Edited September 22, 2011 by asmilecostsnothing

[whatwasithinking]

Hi I am having problems with the money shop, the branch wont deal with it and gave me an email address that keeps sending back my emails. They gave me a phone number for headoffice that on 3 occassions have kept me on hold for over 50 mins on each occassion and I never got to speak to any one. They are phoning and when I answer an automated message comes on asking me to phone the number, when I do, I get put on hold, and now they are sending me texts saying that they are going to send my debt to the balieffs, Can someone please advise on what I need to do. Oh and I went back to the branch and they said, yeah alot of people having trouble with the email, not sure if it is working at the moment......

[citizenB]

WhatwasIthinking - They cannot instruct bailiffs until and unless they have taken court action against you and won.