Help needed please - Speed Credit say they have transferred funds but have not

[joanne19792001]

I stupidly applied for a PDL with Speed Credit on Saturday 17th March(i was desperate). I was accepted for the loan and i got an sms and email message saying the money had been transferred to my account.

 

After checking my account several times on Saturday the money did not arrive so i telephoned Speed Credit(called themselves paycheck credit on the phone). I was told that the money should be in my account any time but if it was not then the accounts department would contact me on Monday morning.

 

On Monday after receiving no call from Speed Credit i telephoned once again and was told that the same thing had happened to 2000 other people and that there was a problem with the banking system and it was not there fault I stated that i wanted to cancel the loan but was told i had to wait until the funds were in my account and then contact them. It is now 4 days on and several calls later despite me saying i wanted proof the money had been sent from them and telling them i wanted the loan cancelling immediately i have got nowhere.

 

I would be very grateful i someone could offer advice on what to do next and help me with a letter to send to them. I will be making all further contact by email so i have a record. I am really worried that speed credit are going to take the money from me even though i have not received it. I was promised yesterday the loan would be cancelled but it still has not

 

Thanks

[renegadeimp]

http://www.consumeractiongroup.co.uk/forum/showthread.php?342595-Speed-credit-Advice-needed-please-(

 

Have fun!

[katty_b]

I have had exactly the same problem just a few weeks ago and i'm not sure how to fix it, they are saying i owe them £301 but i'm not willing to pay when i havn't recieved funds from them!!!!!!! what should i do??????

[renegadeimp]

Ignore them.

 

 

They dont hold a credit license, and if they do, they are right on the verge of losing it. If they try to pass the non existant debt elsewhere, as long as you have bank statements that can be notarized by your bank manager or legal representative, you could enter a county court claim against them.

 

You also need to get a full complaint in with the FOS and the OFT as soon as possible. Your complaint could be the one that makes the agencies decide to revoke the license in full. Especially since they are right on the edge of losing it.

 

 

Send the PDL a letter by recorded delivery simply saying the following: (make sure you edit as needed)

 

 

Address

Date

 

Account number

 

Dear Sirs,

 

With reference to the alleged debt on the above account, please note that i do not acknowledge any debt with you or your representatives as i have never recieved any funds from you. I have notarized documents to support this remark in full.

 

Upon the delivery date of this letter, i am giving you 14 (fourteen) business days to send your reply stating that the above information is correct, the account in question is now closed and that i will not be receiving any communication from you or your representatives.

 

Also note that should i receive ANY communication in any form from you apart from the agreement that the debt is void , then a FULL complaint will be filed with the OFT and FOS, as well as possible criminal charges for harassment and unwarranted stress.

 

Sincerely,

 

 

 

 

Do NOT sign your name. Type it.

 

 

 

Again, as i said above, if your bank statements can verify that you didnt receive any money, then if they keep harassing you by ANY means, simply get that statement notarized by either a bank manager or legal rep, and file a county court claim against them. It doesnt cost much to do, and it forces them to send a rep out to explain themselves. If they dont send a rep or they dont explain themselves in a manner that suits the judge, then you will win. They will then be liable for any costs/damages/compensation and if they communicate afterwards, even once, then they will be breaking the court order.

 

And judging by your information, it will be a very easy win.

 

Just make sure you get that OFT and FOS complaint in asap.

Edited March 27, 2012 by renegadeimp

[katty_b]

Thankyou,,, i hope the they loose it

[renegadeimp]

I edited my post with a little more info.

[JOHNINYORK]

Dear all.

I have been reading your comments regarding Speed Credit/Toothfairy or whatever they want to call themselves.

I myself have taken out a PDL with Speed Credit,but my problem is that I repaid it withing one day.So I would appreciate any comments regarding the procedure I carried out to cancel the loan.

The money (£400) was deposited into my account 29/03/12.In the early hours of 30/03/12,I sent Speed Credit a message through their web site of my intention to cancel the loan.Then at 06.40,I sent them the following email,

 

Dear/Madam.

 

Acc.no...........XXXXXXX Ref.........XXXXXXX

 

Regarding my loan of £400,which I received on the 29th March 2012.I hereby give you notification that I do not require it,therefore I give you notification of cancellation of the agreement,which I am entitled to do so.As it is stated in the agreement,that £496 is required to be paid at the end of 14 days,I have checked on your site under the "repay now" section,it states that I owe £501,that is an extra £5 that is not in the agreement.

The agreement states "amount provided",in legal terms,that means when the money is deposited into my account.So I will be repaying you today,my loan of £400 and interest payment of £13.70,which is £413.70 in total.The interest is calculated at £6.85/day,which the agreement states.That is 2 days interest.

Failure to reply to this email,I will take it as you accepting my payment of £413.70.Any further request for payment from me,will be handed directly to the York branch of Trading Standards.

 

Then at 16.54,I sent them the following email,

 

Dear Sir/Madam.

As you have failed to reply to my previous email as I requested you to do so.

I hereby give you notice that my agreement with you has now been terminated.As today,being 30/03/2012,I have paid £413.70 into your bank account,being as of the following,

 

BARCLAYS.

Acc.no. 93462382

Sort.no. 20-50-94

 

My reference......xxxxxxx

 

The payment of £413.70 consists of the following,

 

LOAN......................£400

2 DAYS INTEREST........£13.70

TOTAL.....................£413.70

 

So would you kindly amend my details.Failure to amend my details as instructed,or make further demands for payment from me,will result in your company being reported to the Trading Standards office with immediate effect.

 

 

Has anyone any other suggestions regarding cancellations.

On Saturday,I received the agreement from Speed Credit.The agreement was headed SPEED CREDIT,PO BOX 153 SHEFFIELD S98-1HW,but the agreement was between me and "MCO CAPITAL trading as PAY CHECK CREDIT".Where does Pay Check Credit come into the equation,I do not know.I have checked on the Toothfairy and Speed Credit sites,they both show that I owe £501.For a final check,I went to the Pay Check Credit site,that diverted me back to the Speed Credit site.Besides the mentioned emails that I sent,I also sent a letter to 15 Lyndhurst Road,London.The contents of which,contained the transaction number of the money paid into Barclays,a photo stat of the transaction receipt and a further warning of the outcome if they tried to obtain further money from.How many PO BOX numbers do they hide behind.

Another interesting thing that caught attention on the agreement,was the £4.90 transfer charge.But they have put £5 onto my loan.A matter of trades description act,indicating one price,but charging another.

I feel very sorry for the people who have got caught up with these loan sharks,but their day will come.Al Capone was caught out by a simple thing like tax evasion.

 

Regards,John.

Edited April 2, 2012 by JOHNINYORK

[Annieg1g]

I have tried to conatct Speed credit and tooth fairy but every time I try to e-mail it bounces back as Mailer Demon, even when replying to their e-mail????

[JOHNINYORK]

Annieg1g.

Have you tried this address,

 

[email protected],

 

I think that you will have more luck if you send them a letter,that is if you can find your way through all their PO BOX numbers.

Speed Credit and Toothfairy are supposed to be two separate companies,but they share the same bank account and both have your details.Need I say any more.

 

Regards,John.

[renegadeimp]

Annieg1g.

Have you tried this address,

 

[email protected],

 

I think that you will have more luck if you send them a letter,that is if you can find your way through all their PO BOX numbers.

Speed Credit and Toothfairy are supposed to be two separate companies,but they share the same bank account and both have your details.Need I say any more.

 

Regards,John.

 

and theyve already been actioned for that. Thats why it is vitally important that you get a full complaint in asap.

[Annieg1g]

Many thanks John, I even went onto their website and that bounced back, but strangely today it hasn't???? I have tried the info address previuosly and that has bounced back too? Thanks for the help x