is there a reason they are unable to accept settlement offers over email?

[sarahlil]

Or is it yet another example of them being awkward so-and-so's?

 

I took out a £100 loan before Christmas, and then didn't pay back. I've been a bit stupid with payday loans but am now in payment plans with all of them apart from minicredit. They refused. Since then they've taken at least £200 from me, yet are still claiming I owe them another £600. I've received letters regarding doorstep collections, yet nobody ever showed up, and have now had a letter threatening CCJ's etc. All a bit scary to be honest.

 

In a bid to get them off my back I've emailed them with a settlement offer of £175, which is more than the original loan + one months interest. I know I've already paid more than this so 'technically' don't owe them any more money, but if I can pay that and be done with them, I'd rather do that than have to go through the courts. I just want them out of my hair now.

 

They ignored the email (surprise surprise!) so I' sent it again. And again. And again, about 8 times in total in the last 10 days. Each time saying I'm happy to pay the £175 on my next pay date (this friday) to settle the account and only wish to communicate via email. It was only when I said I was complaining to the OFT & FOS that they replied, telling me I had to call them to make an offer and it must be paid immediately.

 

I cannot afford to pay more than the £175, and to be fair I don't see why I should pay more than that. I'm worried that if they call them they'll either attempt to bully me into paying more, or raid my account when I give them my credit card details.

 

Has anyone been able to pay their settlement by standing order? Are they likely to even accept my offer of £175?

 

Thanks guys!

 

 

[renegadeimp]

They can accept ANY offer. The sad part is that they wont. They prefer to put on random charges and try to scare you into paying it. Incase you didnt know, PDL's are nothing more than legalised loan sharks. That is why they pull tactics like this.

 

 

Cancel your debit card and change your bank account number. You have already paid them the original loan plus the original interest.

If you dont change your bank details, they WILL try and debit the account multiple times even without your consent. They have done this multiple times in the past, in one instance putting a person into almost £1000 overdraft with their bank.

 

File a complaint with the OFT /FOS and make sure you tell them everything, and keep them updated. They should stop what they are doing pretty much immediatley when you file a FOS complaint. Because the FOS charges them in order to investigate. If everyone filed a complaint, theyd soon change their tune.

 

Do not call them and do not worry about bullying. They try to force people into calling them so there is no traceable evidence of communication should the OFT investigate your complaint.

 

Make sure ALL communication is in typed letter format and sent by recorded delivery.

 

You only need to send minicredit a mail once. Thats it. If they do not respond, then it is their problem. You have paid the loan plus original interest, so you do not owe anything else. Stick to your guns.

 

If they try ANY form of bullying or harassment, immeditaley inform them that you are updating your complaint with the FOS and OFT and cease ALL communication with minicredit, and get that complaint updated.

 

Also, in regards to the doorstep collectors, they have NO legal powers at all. Your neighbours cat has more legal rights to come on to your property. If they do come on to your property, do not answer the door. Inform them that if they do not get off your property immediately the police will be called.

 

In short:

 

Change your bank details and change your debit card

http://www.consumeractiongroup.co.uk/forum/showthread.php?336569-How-to-remove-a-lender-s-continuous-payment-authority read that and send it to your bank.

Type out a letter to Minicredit stating that you have already paid back the loan in full and you do not owe them anything. Also state that you are filing a complaint with the OFT.

State in the letter that from the date of the letter, ALL communication is to be done by regular mail. Any other form of communication will go ignored and unanswered.

In the letter, also state that you revoke ALL rights under common law for them or their representatives to come to your property. Any violation of this will be considered trespass and the police will be informed.

 

 

Stick to your guns, because they will try everything they can to scare you into giving them money. After all, they ar enothing more than loan sharks.

 

Let us know how you get on.

Edited March 20, 2012 by renegadeimp

[sarahlil]

Thanks, yeah I already have a new bank account and debit card after they raided my old account to get the £200+ they have already.

 

Am I best still paying them the £175 I said I could? Wouldn't like to not pay it, then have them use that against me. Like I say, I know I don't have to pay them that, but if it puts an end to this carry on then so be it.

[renegadeimp]

Do NOT pay it. You do not owe them it. They have already stolen £200+ off you and really, you should have contacted your bank and the police when they did.

 

They wont use not paying against you, because no PDL has taken anyone to court. Mainly because they wouldnt even get past the initial appraisal phase. Plus they have virtually no legal rights apart from getting back the initial loan plus the initial amount of interest that was stated on your contract

 

If you want an end to it, send the letter as i stated, then cease ALL communication with them. You are falling right into their trap, where they bully you so much, you just want to give them money to leave you alone. Even if you did pay them the cash, they will still contact you demanding more saying they have added further late charges plus interest. It's what they do and what they have done before.

 

If they spam you with calls/texts etc, then update your OFT / FOScomplaint, and contact trading standards and your local police stating that you are experiencing ongoing harassment.

 

Write that letter, file that complaint, then ignore ALL communication with them.

Edited March 20, 2012 by renegadeimp

[sarahlil]

Just to update - I've heard nothing from them for months, apart from the odd letter from Opos, still demanding a total of what was no £700+. I received a text message, followed by an email from them, offering me to pay £150 as a full and final settlement.

 

"To try and help you resolve this matter amicably and out of court OPOS would be in a position to accept £150 as a full and final settlement. With this settlement you would be saving yourself over £600! Once the account is settled your credit file will be repaired and you would also receive a letter of satisfaction. Explaining that this debt is completely clear and no-one will be chasing you for the remaining balance"

 

Again, I know I don't owe them this but it would feel a huge weight off my shoulders if I could get minicredit off my case once and for all, and can concentrate on paying off the rest of my loans.

[renegadeimp]

Discounts mean the debt is bad and unenforceable and theyre trying to get whatever they can get.

[Nao]

I took out a £100 loan before Christmas, and then didn't pay back. I've been a bit stupid with payday loans but am now in payment plans with all of them apart from minicredit. They refused. Since then they've taken at least £200 from me

 

I've highlighted the important parts in red.

Original Loan amount + 1 month interest (£30 in this case) is all that you have to pay them, the rest is fantasy charges, if they actually ever took you to court (which is very unlikely) you simply provide proof that more than £200 has already been repaid for that £100 loan and the court will tell them to go cry in a corner and throw those fantasy charges out.

[sarahlil]

Latest email from them

 

"I have not heard back from you. I have spoken with your employer today who have taken the details in regards to the possible action. Please contact me urgently."

 

What do I do? Surely they can't contact my employer?

[renegadeimp]

They are lying. ANd if its the truth you MUST report them.

[sarahlil]

I've reported them, and emailed them to say I had done so. Got back some rubbish about how I agreed to this in my terms and conditions when I applied for the loan in the first place.

[renegadeimp]

Doesnt matter what they say. Their terms and conditions do not override statutory law or the data protection qct.