Fredrickson International Ltd/moneyshop debt : Sneaky tactic or just a typo?

[losingmymind]

Hi,

 

I owe TMS £750. I've been a customer for 10 years (dread to think how much interest I've paid in that time) and took out a 'fresh loan' last October. Since then it's rolled over every month and I've paid somewhere in the region of £120 a month to keep this going, but due to the fact that my income has declined each month for the past few months, it just got to the point where I couldn't afford to roll over this month. As I had used cheques that were not guaranteed by my debit card (as a longstanding good customer my cheques had always gone through previously), I was able to stop my cheque book with the bank on the grounds I had 'lost' it, andso when the cheques were presented they just weren't paid. Consequently, 8 cheques now have TMS charges added making the original debt £200 more!

 

Last week I received a letter from TMS stating that as the cheques were returned unpaid they would be taking their money using my debit card. I transferred any money I had in the account over to another account I have with the same bank, leaving the balance on that account at £0.

 

Yesterday morning I checked my bank accounts online as usual, only to find that my current account was £250 overdrawn, on an account that has no OD authorised on the account, from a £0 balance. The overdrawn balance was made up of multiple withdrawals for £25 and 2x £50.

 

I immediately contacted the bank (Natwest) to report the transactions as fraudulent and to stop the card because at that time I had no idea what they were for. Then the bank told me it was TMS. I demanded to know why these transactions had been authorised when my account balance had been £0, and that if I had tried to use my card in a shop with a £0 balance it would have been declined. The person in fraud told me I would have to take that up with my branch. So during the afternoon I went to the branch only to be told that there's nothing they could do about the transactions and that the bank is obliged to authorise them because they are guaranteed payments (since when?) and because I owed TMS the money there was nothing they could do about stopping the transactions or refunding my money. I was also told that because TMS had tried to access money at the weekend the bank would automatically authorise payments under certain limits because on non-banking days (Sat + Sun) the system has no idea whether or not there are other incoming funds pending so they authorise it. That's on my current account. I have been told that this wouldn't have happened on my Step account, but current accounts are different.

 

I told the bank that they have now left me at £250 overdrawn, with charges racking up daily until I can pay some money in next week. I'm absolutely fuming with Natwest because they have allowed this situation to arise regarding the unauthorised OD, but they don't seem to be willing to assist. They wouldn't give me a temporary OD to cover it for a while until I can bring the account back into good standing.

 

Natwest are sending me a new debit card for my account, but even without the new card details can TMS still access my money? The woman in the bank said they couldn't, but I've read on here where people have had money taken from new cards and even new bank accounts, so don't know what to think.

 

I have paid all rollovers bar one with the card that has now been stopped. I used my debit card to my Step account once, back in November. Could they try to use this one to raid my accounts further? That account now only has about £10 in it, so I'm hoping they can't run up an overdraft on that account, even though the bank clerk told me they couldn't, but when my money goes in in a couple of weeks they could have a field day if that's the case.

 

Can I threaten Natwest with if they let any more payments be authorised I'm holding them responsible?

 

I realise I may not have a leg to stand on regarding getting Sunday's transactions refunded, although if anyone knows any ways around this, your advice would be much appreciated.

 

Still in a state of shock at having an overdraft run up and want to redress this in some way if I can. Sorry if I've rambled, I've done my best to be as concise as possible. It's been a long frustrating day!

 

Any help/advice very much appreciated.

[losingmymind]

Can anyone help, please?

[ihateyes]

Hi i would be looking at te loan agreement you should have. As your primary payment method is by cheque thier loan agreement must state that non payment by cheque, will result in them using the debit cardd. If the loan agreement doesnt state this, then they have committed theft, and i would report that to the bank and the police, using your loan agreement as evidence with the police, though they probably wont want to know as it doesnt concern a speeding ticket!!.

 

I would argue with TMS the loan is for say £100+ £25 interest, therefore the only transaction they should be doing is one of £125 and not 5*£25. - you cant cash half a cheque therefore they should only be trying for the value of the cheque.

 

Get your wages paid into a new account, as TMS will keep trying til they get their money.

Also complain like heck to the bank telling them its their systems responsibility to stp payment going thru. I would be askign for all charges to be refunded. I would complain to the FSA about this.

[losingmymind]

Thanks ihateyes. I have already written to my bank manager and laid it on thick about the fact they they have pushed me into debt with them when I didn't even have an OD facility, irresponsible lending etc. when I couldn't pay it back. Have already threatened them with FOS, and have said if anything goes out of my account from this day forward to TMS then I am holding them liable. Don't know what good it'll do, but am awaiting their response to take from there. If it's not a satisfactory outcome, then the FSA it is!

[ihateyes]

Have you got a copy of the loan agreement???

[losingmymind]

I wasn't given one. I remember the guy in the shop keeping it. I remember signing something and was told it was a direct debit mandate should I default on the loan, but I didn't realise that their idea of direct debit was to use my debit card! And because I've been rolling the damn debt over from month to month by phoning and paying the interest with my debit card I've never been given any other bits of paper telling me what would happen if I defaulted.

[ihateyes]

I wasn't given one. I remember the guy in the shop keeping it. I remember signing something and was told it was a direct debit mandate should I default on the loan, but I didn't realise that their idea of direct debit was to use my debit card! And because I've been rolling the damn debt over from month to month by phoning and paying the interest with my debit card I've never been given any other bits of paper telling me what would happen if I defaulted.

 

i would request a copy of the t&c's....

why use cheques and not make it a debit card loan like payday express..... same people

[losingmymind]

Thank you. What about the actual agreement I signed? Is that a CCA request or just a case of nipping into TMS branch where I took out the loan?

[ihateyes]

No harm in going into shop, they should have a copy of the loan agreement there.

If they dont play ball, then yes a rquest needs to be made.

[losingmymind]

Hi,

 

I received a letter from Fredrickson International today addressed to me but sent to the house next door. The neighbour very kindly reposted it through my letterbox without opening it first (phew! Don't want DCA nonsense being gossiped about because he is a gossip!)

 

Although it had my name and his address for sending purposes, once opened it wasn't actually addressed to me as in Dear losingmymind. It went straight into the letter:

 

We have made enquiries for confirmation of your current place of residence. Information has been received confirming that your address details have changed to this address.

 

Due to data protection legislation details of the account are not included in this letter. Please call us immediately on 0845 8396067 quoting the above reference for more information.

 

Yours sincerely

Fredrickson International Ltd.

 

It's not the first time they have contacted me. They have written to me two or three times at the correct address, but I ignored them.

 

Now they have written to me via the neighbour's. I'm inclined to believe it's a sneaky tactic rather than a typo. I suspect they want the neighbour to either open the letter and ring to tell them they have the wrong address, it's next door instead, confirming that they had the right address all along. Or they were banking on the neighbour doing the right thing by reposting through the correct door and then I call them because I wouldn't want them sending mail about debts to the wrong address.

 

Has anyone else had this?

[Bazooka Boo]

So what were the other letters you received saying?

 

As for freds and their misguided knowledge of Data protection they have confirmed to you in writing that they are themselves in breach of the DPA which they profess to be upholding, a complaint to the OFT&TS via consumer direct and to the ICO.

[losingmymind]

I know it's about a debt with the Money Shop. Each time they have written the debt seems to go down (?), so I was just sitting tight to see what happened next - that is, was it going to reduce further? It's not that they're writing to me that's the problem, it's the way in which they are going about it now.

[Bazooka Boo]

Could it have been a mistake by the postie?

 

If it happens again I would be inclined to start rattling a few cages.

[losingmymind]

No, not a mistake by the postie. My name, neighbour's address. Maybe I'm reading too much into it, but where DCAs are concerned I don't trust them an inch, so am more inclined to believe that Fredrickson's are trying to force the issue in a downright sneaky, below the belt kind of way. A bit like when one DCA phoned another neighbour last year asking if my housemate still lived at our address, and when the neighbour said "yes shall I get her for you?" they couldn't get off the phone quick enough, lol!

[Bazooka Boo]

Well if it happens again then just stick it back in the post, RTS not known at this address.

[whyme-agen]

Sneaky tactics

 

That's the 'code of honour' in the DCA club

[Tartan Barty]

Did all the other letter have your address on them? I would say that if they send a few letter to you at your address and then suddenly sent one to a neighbours address they have done it intentionally. Most streets have odds on one side and even on the other. So if it was a typo then, for example, a 5 would be a 4 or a 6 if using the top row of the keyboard or it could have been any number if using the key pad. If you live on a street where the normal rules apply then it seems starnge that they managed to make the mistake exactly 2 out resulting in your immediate neighbours getting it. And why would they suddenly make a mistake with your address if they have written to you before? Do they employ people to sit there editing files, replacing people's addresses with exactly the same information?Smells fishy to me!!!

[losingmymind]

My thoughts exactly Tartan Barty. The other letters were sent to the correct address, including a nice big yellow card (sent in a nice big white envelope) entitled 'confirmed resident' at the correct address, but since I didn't get back to them confirming their confirmation, they have now written to me at the neighbour's address as they believe this to be my 'new address' - not! I do believe it's a fishing exercise to elicit a response from either my neighbour (no, she doesn't live here but she does live next door) or from me. I'm thinking of phoning up posing as my neighbour's wife to throw them off the scent completely, lol (no she's not here, but she's not in this street either), just to see what happens.

[Lsch]

I need some advice about TMS repayment. My son took out a loan and landed in serious financial difficulty. I decided to pay off this load as they are adding lots of interest every month. However, I have read on here that TMS are taking out unauthorised payments from people's banks and I am now reluctant to give them even my bank details in case this should happen to me even though this is not my loan nor in my name.

 

Any advice as how I can pay this debt without giving my bank details.

 

Many thanks.

[renegadeimp]

Can you create a seperate thread for this. It would make it easier to reply to and advise.

[Lsch]

I dont know how to start a new thread yet, i have just joined this site and not sure of my way around yet.

[renegadeimp]

Go to http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?228-PayDay-loans and click " Create New Thread"

 

Enter a title, then the information. Then click submit.

 

http://www.consumeractiongroup.co.uk/forum/content.php?114-How-do-I-post-my-story-on-the-Consumer-Action-Group-forum is even better.

[renegadeimp]

Never just cancel a card. You need to walk into your branch and hand them a letter that simply tells your bank to stop any and all transactions to certain companies upon receipt of the letter. ALso you should really change your bank account. Those are the only surefire ways to stop these loan sharks debiting your account as and when they like.

[huxleypig69]

Same situation here mate, as far as I see it it IS the banks fault for allowing the transaction to go through when you didn't have the funds in there to cover it. If TMS tried to take a billion pounds would the bank do it then say you owed them a billion?? Of course not, it is the banks fault.

 

They've eaten my benefit payments too as it's just gone straight into the void that the unauthorised overdraft has created. They might as well be in it together, it's a total joke.