How to deal with Minicredit

[marts_uk]

Hi

 

I took out a loan of £250 and like most on here was unable to pay back on the due date, then tried to arrange payment plans which they obviously rejected. The debt risen to approx £1,500 within a 3 or 4 month period.

 

The way to deal with them is to make your offer of payments, they will reject, but just makesure you email or write letter with offer of payment, do this 3 or 4 times atleast so you have proof. You may also make a complaint to the fos, but personally i dont think this makes a difference.

 

Don't pay them a penny until the debt has been passed to their debt recovery company, which in my case is mackenzie hall. Mackenzie hall will then send you an offer of settlement, simply refuse this offer and you offer them the loan plus one months interest. We have come to an agreed offer of £300 to clear this debt. They accepted straight away. They obviously know that minicredit will no go to court over it as they have no chance of getting all the money from you that they charged.

 

I was stressed for weeks over this debt, you just have to pretend the charges are not there and know that you only have to pay the loan plus 1 month interest.

[ianphillips2347]

Im glad the Minicredit hell is over for you

 

Unfortunately, my nightmate is still going strong - although the fact Im having to deal with Opos and not M.Hall may have something to do with it.

[renegadeimp]

Good job marts. Goes to prove what people here are saying. That minicredit is adding random charges and hoping they can scare you into paying it all under threats of court action that would never happen. They are nothing more than glorified loan sharks, and i hope the OFT investigation manages to shut them down.