24/7 Moneybox refusing to freeze charges

[jellymelly]

Hi,

 

I have managed to set up sucessful repayment plans with the other payday loan companies i owe money to but 24/7 money box are being extremley difficult.

 

I have been in email correspondance with them regarding my account and have also spoken to an advisor on live chat,at first they agreed to my repayment offer and then contacted me to say that i will be incurring daily fees additional interest and £10 per letter being sent with 5 letters due out to me next week.

I have requested that they freeze the interest on my account and pointed out that the charges are disproportionate as they total 50% of the initial loan ammount but i am getting nowhere i just repetedly get told to ring them when i have funds to pay the balance.

 

Has anyone had any dealings with them or any advice as to how i can get this rectified?

[asmilecostsnothing]

Jel Have you been in contact before the repayment date? as someone who was hit with their charges I always remember them saying and making a point of "...if only you had contacted us before"... so if you have made contact, you need to raise a formal complaint with esculation to the FOS/OFT and don't forget their trade members of the BCCA . British Cheque & Credit Association - you can go to them too.I know people will say I'm daft and could of fought but when their in charge of payments which they were at the time (didn't know you can pay via paypal) and my debt was building up rapidly I had no choice. Up to me now whether to reclaim though I don't really feel in any position to do so as they did get sensible and stopped further charges accuring as soon as I was in contact.Though I will say it did help me win with a few others in a way! the line of always approach before default. Cheers for that 247 Moneybox! You could also try the Citizens Advice. Hope this helps.

[jellymelly]

Hi asmile,

 

Yes i have been in contact before the repayment date firstly when i knew i couldnt pay in full and was told to default first and again this week several times but i just keep getting told to ring when i am paid to make a payment?!!

 

I have repeatedly asked to set up a repayment plan and explained i will not be able to make anywhere near the full ammount owed anythime soon due to financial problems but i will and can commit to the amount i offered.

 

Extremley frustrating as all i seem to get is a robot response of call on payday and pay the full amount grrrrr lol

[asmilecostsnothing]

Sweetie please, please bcca it ! having to default is rubbish just so they can hit you with charges. Get as much as you can in written format and your next communication needs to have OFFICIAL COMPLAINT on it, refer them to OFT guidelines - others on here are better quoting their official lines then me! 247 Moneybox do accept payment plans generally they like you paid up in 4 months - this is just what I found. You are in a strong position here - trust me!

[s4ddys]

These clowns will try anything, I remember at one point they phoned me to set up a repayment plan and I explained I had put everything in writing. He read my notes and said he could only put a payment plan in place if they had a live debit card on file! Yeah right!They were stubborn to begin with but eventually gave way when they realised they would not get their money back otherwise. IIRC I paid £20 per month via direct bank transfer till the debt was clear on original loan and 1 months interest.

[renegadeimp]

Get in touch with them and send in a request for a FULL breakdown of how the debt is made up.

 

Also send a full complaint into the OFT and FOS first thing in the morning. Give them as much information as you can get. Also email Stella Creasy MP, as she is performing an indepth investigation into PDL's in hopes of getting the law changed so ALL pdl's get shut down.

[asmilecostsnothing]

Brilliant s4ddys well played and they say the loan amount plus 1 months interest larke doesn't mean much...

I was an amateur when I dealt with these, nonetheless they were one of my 1st gone

 

ooohhhh now the rebel in me...

Not forgetting there was also Steve Perry who managed to pay them actually less then owed in a settlement offer - that's in a published book hope 247 realise this

 

There you go hope this gives you something to go on OP!