Best way to deal with Minicredit? I may aswel talk to the table!!!

[Dannyde]

Hi Guys, had various loans from Minicredit and had a £600 loan and was due to repay on 30.03.2012.

As per many on this forum I have come to the point where i can't keep rolling over and paying extortionate charges so changed my DC and did not pay them.

 

I've had the usual emails, calls texts etc but have ingnored all unitl I emailed them for a breakdown of charges last week to plan what i was going to do this payday.

 

So they now want:

The total outstanding balance GBP1061.00 from the date of issuing (3rd of March 2012) until today the 19th of April 2012 consists of the following:

 

1. Loan principal GBP600.00

2. Interest in total GBP282.00 (1% of the Principal per day)

3. Overdue penalty GBP25 (was added on the 1st day overdue)

4. Overdue penalty GBP55 (was added on the 3rd day overdue)

5. Debit Attempt fees in total GBP99.00 (every unsuccessful attempt to receive the repayment costs up to GBP3)

 

The origional amount inc interest was due on 30.03.2012 was £762.00 and I am willing to pay the £762.00 to clear the account - am i doing the right thing by offering them this and do you guys think they will accept?

 

or should i just make "partly payments" to them for the next few months then offer them a full and final when i have some more funds?

 

Any help would be great.

[renegadeimp]

Keep sending letters/emails. This shows that you are trying to get in contact, but they are flat out refusing. Ignore the charges, as they are unfair and extortionate. They wouldnt be able to justify them in court. Pay the debt and original interest you agreed to, then let them try and justify the rest.

 

In regard to part payments, make sure you get confirmation from minicredit. They have a habit of denying that they agreed to anything, and also try and keep the money you paid.

[Dannyde]

Hi Guys, I have recieved this letter today - warning me of the DOOR STEP COLLLECTORS

 

 

Basically it says that they have added £100 to my debt for the doorstep collectors.

 

What happens next? I made a "partly" payment of £80 + £5.50 transmission fee on Friday to show willing but these clowns charge £5.50 per "partly" payment and even charge a fortune to phone them, 10p per minute!! Surly they should have a local rate number?

 

Help would be appriciated please!

[Dannyde]

JESUS - if you want to pay by UKASH voucher it will cost you the amount PLUS 6.5% plus VAT!!!!!!!

 

Robbing b****ards

[renegadeimp]

You need to make the picture bigger dannyde. It''s way too small to read.

 

But from your info, they cannot charge you £100 for doorstep collectors, not to mention they are not allowed to come to your home if you tell them not to. It is classed as an unfair charge, and really, you need to get a formal complaint into the PDL's complaints department, and the OFT.

[Dannyde]

Minicredits latest email - They refuse to accept a payment plan or freeze interest:

 

The total outstanding balance GBP1317.00 from the date of issuing until today consists of the following:

 

1. Loan principal GBP600.00

2. Interest in total GBP372.00 (1% of the Principal per day) (62 days)

3. Overdue penalty GBP25 (was added on the 1st day overdue)

4. Overdue penalty GBP55 (was added on the 3rd day overdue)

5. Debit Attempt fees in total GBP165.00 (every unsuccessful attempt to receive the repayment costs up to GBP3) (55 tries of my card where i do not keep any money)

6. Debt Recovery fee GBP100 (was added on the 30th day overdue)

 

The Loan Agreement states that Interest on any sum in arrears will be charged at the contractual rate, both before and after judgment, until payment. An also that the Customer has to cover the costs and expenses we incur (including any legal costs on a full indemnity basis) in tracing the Customer, or enforcing, or attempting to enforce, our rights under this Agreement.

 

Microcredit Ltd considers that all the overdue charges and interest have been rightfully added to the outstanding balance according to the Loan Agreement You accepted. We are willing to consider the possibility of a settlement figure if it is reasonable and paid in full. Please contact our Customer Support on the number 08718903015 when You have funds available to offer as full and final settlement. If the settlement is agreed, the payment has to be made with a debit card immediately.

[renegadeimp]

They cannot refuse to accept a repayment plan. Doing so means that they are refusing to accept a legitimate payment from a debtor which is a direct breach of what the OFT has stated. If i'm honest, you'd be better off taking this to court, filing a defence to force them to appear and explain themselves. They've added unfair interest charges. 2 overdue penalty charges of differing amounts for 3 days overdue, debit attempt fees that would never stand up in court. Plus a £100 Debt recovery fee which is unfair. Also, the loan agreement does not superceed the law.

 

They also cannot force you to call a phone number and make a payment with a debit card.

 

 

Theyre just trying it on with you. Send them the repayment plan email again, and again and again. in the meantime, just pay them a token payment of £1 a week/month until the agreement is in place. this shows any court that you are completely willing to repay the loan, but they refuse to accept any kind of payment unless it is in full.

 

Then get a formal complaint into minicredit and ask for a FINAL RESPONSE within 8 weeks. Contact the OFT and put a complaint in. Once you have a final response letter, send it to the FOS as part of a complaint and they will investigate for you. It's a long process but it works.

[Dannyde]

saw this on Money Saving expert from King Elvis - Made me LOL!!!!

 

"Doorstep collector?

 

My doorstep is held in by like concrete, bricks and stuff......wonder what they do with them? is there a market for previously enjoyed doorsteps? "

 

[Dannyde]

Latest Letter from Mini Credit

[Dannyde]

So basically today my loan of £600 on the 3rd March now stands at £1403 and they are still refusing to agree to a repayment plan. I am sending all my paper work to FOS today.

These lot are the lowest of the low in my opinion, they need shut down

[Dannyde]

Just had the automated call from Minicredit:

 

"you have an overdue loan with minicredit, please fund your account so we can rip your eyes out and leave you pennyless" thank you"

 

Sounds like phonejacker

[sillygirl1]

Tell them that you are reviewing your finances and that you can only pay them x x x

 

Have you already got another bank account - simply changing your card isn't sufficient to stop these people dipping in when they want - which is against the OFT Guidelines on Debt Collecting.

 

All of their 'trumped up' charges are not enforceable via court, a judge would seriously query why they are charging £3 daily for attempting to take money when already told not to, and again the £100 debt collection charge is wrong, so are any file transfer fees.

[Dannyde]

Hi Sillygirl, I have told them so many times now that I simply dont have the money to pay them and have offered £80 per month if they agree to freeze the interest and stop adding made up charges, they just keep replying with "

"All the overdue charges and interest will be added until full repayment"ive already changed my account, they have details of my Natwest Basic one which the card has just expired for so they wont get a bean out of there as i dont keep any money in it and Natwest are tighter than 2 coats of paint so they wont pay anything lol.I offered them the origional loan amount plus a months interest last month when I got a bonus from work but they refused to accept this as full and final so i told them to go forth........ I havesince used that money for other debts so they can have that now, they are the last ones on my list now.

[renegadeimp]

Keep pushing with your repayment plan and also keep any and all records of phone calls from them, along with any letters and emails.

[tottys]

Have you already got another bank account - simply changing your card isn't sufficient to stop these people dipping in when they want - which is against the OFT Guidelines on Debt Collecting.

 

hi please could you tell me where i can find this part of the guidelines on oft site as this company are lifting money from my account 3 times a day everyday even though there is no money in the account.

thanks

[renegadeimp]

See sig.

[sillygirl1]

OFT Guidelines on Debt Collecting state that they are not allowed to do this, your contract also states that the contract is for x amount on x day, not xxx amount on xxx day which would make the initial contract unenforceable due to an unfair term and condition.

[Dannyde]

Hi Guys, I am still battling on with MiniCretin and have sent them this hoping they may send the account to opos....Got the LAST LETTER BEFORE LEGAL ACTION on 03rd July, someone really needs to teach these lot how to write a letter as it is only 'partly' english!!!

 

The current balance on my online account today stands at £1688.00 for a £600 Loan due on 31.03.2012!

 

 

Dear MiniCretin,

 

Thank you for your letter dated 28.06.2012, headed, LAST LETTER BEFORE LEGAL ACTION, the contents of which have been duly noted.

 

I would like to draw your attention to the following:

 

Despite all of my efforts, you have chosen to ignore my attempts to come to a payment arrangement.

 

You have sent me several letters demanding payment in full which I have told you on several occasions that if I had the sum of money involved to settle this loan I would have settled the loan on the due date, I did not have the money and still do not have the money, you are adding charges to the account by the day as per your agreement so in short and simple terms I will never have the money to pay this debt in full as the outstanding balance continues to rise every day.

 

You have not offered any form of 'payment options' as mentioned other than that I can make 'partly payments' which cost £5.50 each time one is made, I have made two payments of £80 (PLUS £5.50 FEE) to my account which you are not taking into account as you are saying that I have 'chosen to ignore your efforts'.

 

I can not avoid legal action as you put it as I can not settle the account in full as I do not have the funds available.

 

Your mention of my 'forthcoming CCJ' is of particular note;

 

You as a company have to file a claim in the county court against me providing a breakdown of charges, at which point I get the chance to defend the claim. I will defend the claim and will attend court, I will show willing to pay the balance and the judge will decide which charges you have added are justified and what a reasonable amount is to pay you back that I can afford from my earnings as this type of debt is not classed as a "Priority Debt", once I have provided them with an income and expenditure form the will decide how much of the debt i have to pay and what payment I have to make. I would then have to BREAK this agreement and not pay you back for you to be able to send door step collectors/bailiffs to my home to recover the debt.

At this point, you have not filed a claim and you have not received a judgement against me so please do not threaten me with mention of a 'forthcoming CCJ' which you as a company can not give me.

 

I have repeatedly offered a payment of £80 per month to clear this debt for the original amount borrowed plus one months interest which equates to £762.00

 

I have paid £160.00 leaving a balance of £602.00. I am willing to pay this monthly by 7 instalments of £80 then a final instalment of £42 beginning on the 1st August 2012.

I will pay this ONLY BY MEANS OF STANDING ORDER TO YOUR BANK ACCOUNT; you will need to reply with your bank details as I refuse to pay £5.50 per time to make a payment which would be free of charge using bank transfer facilities.

 

If you are not willing to accept my offer of payment, please begin proceedings against me as at least that way I will be able to defend my self in court and will not have to continuously be harassed by your company for this debt as once (and if) judgement is granted I will only have to pay what I can afford and by accessible means, i.e. via a standing order. No Judge in the country would agree to the only payment method to be one that costs £5.50 each time, after all, once they have seen my I & E form you may only get £5 per month.

 

I would like to come to agreement regarding this outstanding balance and request the you reply with the information i have requested, how ever, any reply and previous replies/letter from you company may me used as evidence in court should your company try to get judgement granted against me. Also please note that any telephone calls received will and have been recorded.

 

...............................................................................................................

Edited July 5, 2012 by Dannyde

[Welshy27]

Great letter to them (especially the 'Dear Minicretin bit lol) but doubt they will respond proactively to it - at least you are showing that you have made the effort to contact them to set up a suitable arrangement. If you want your account to be passed on to a DCA like OPOS then you need to fill in the Hardship Application which you can see on your MiniCredit account.

[Dannyde]

I think this should be their new name, MiniCretin!! It pretty much sums them up:

 

Cretin: A Person that is: brainless, stupid, child-like, and full of pointless information that makes no sense and appeals only to other cretins.

 

 

(Taken from Urban Dictionay! Not meant to offend anyone just a bit of humor that keeps people going when they are low due to the treatment these companies give out)

Edited July 5, 2012 by Dannyde

[postggj]

a cretin is a person deformed and mentally handicapped due to a congenital thyroid deficiency.

 

the urban slang below is what you are quoting

 

Cretin: A Person that is: brainless, stupid, child-like, and full of pointless information that makes no sense and appeals only to other cretins.

 

the only brainless cretin is the person making the above bold statement

 

 

i am old enough to remember in the 70s the term spastic for people with cerebral palsy

 

i thought we had all moved on with those past Neanderthal thoughts now we are in the 21st century

 

i guess not

[Dannyde]

a cretin is a person deformed and mentally handicapped due to a congenital thyroid deficiency.

 

The urban slang below is what you are quoting

 

cretin: A person that is: Brainless, stupid, child-like, and full of pointless information that makes no sense and appeals only to other cretins.

 

the only brainless cretin is the person making the above bold statement

 

 

i am old enough to remember in the 70s the term spastic for people with cerebral palsy

 

i thought we had all moved on with those past neanderthal thoughts now we are in the 21st century

 

i guess not

 

this was not intended to offened anyone it was only meant as a laugh in between being hounded by this company, I made no reference to your version of the meaning of cretin or about those with cerebal palsy, it would seem that you are trolling the boards looking for an argument?

 

if you do not like what i have written - do not read my thread,

 

if you have nothing worth while to add - please do not add to my thread.

 

It strikes me that you calling me a cretin for making the comments makes you as Neanderthal as me? your attitude would be better suited on the MSE forum, you would fit in well with the judgmental lot on there.

Edited July 5, 2012 by Dannyde

[Dannyde]

Mini Credit reply today by email:

 

Dear ..........................

 

Your account is overdue for 97 days. You have 23 days to continue making partly payments towards Your balance via Your Minicredit.co.uk online account and if You wish to avoid the Legal actions, within 23 days gather up funds as much as You can, give us a call and make us a settlement offer. If it is agreed, then the payment must be made immediately via same phone-call via debit card or Ukash voucher only.

 

 

Kind regards

MiniCredit.co.uk

Client Support Team

.....................................................................................................................

 

Thanks MC, very helpful, gather up as much as you can and we will then tell you that we won't accept it lol! Think i would rather go to county court as i'm sure the Judge would't tell me to "gather up as much as you can" to make a payment!