PayDay Loan HELL featuring WONGA, Quick Quid,Tooth Fairy & PayDay UK

[jacktheladuk]

wontdoitagain, that's great CFO have agreed to a repayment plan with you, I'm getting nowhere with them, insisting on nothing till 33 days after default. Any tips you can share with us in getting a repayment with them?

Edited May 15, 2012 by jacktheladuk

[renegadeimp]

To be honest, i would ignore the DCA and go through the Original Creditor UNLESS the DCA is able to give you an easy repayment plan and it pays off the debt directly. A lot of DCA's agree to a plan, but most of the payments go towards their "fee's and charges" not the actual debt.

[willnotdoitagain]

wontdoitagain, that's great CFO have agreed to a repayment plan with you, I'm getting nowhere with them, insisting on nothing till 33 days after default. Any tips you can share with us in getting a repayment with them?

 

The account was in default with CFO when i offered repayment they didnt accept the first offer but increased it a little. The email I recieved to say they accepted the offer but didnt include what I was outstanding so have emailed them back to ask for a breakdown, lets wait and see, will keep you all posted. QQ are been a real pain one more email and they getting reported to OFT.

[renegadeimp]

. QQ are been a real pain one more email and they getting reported to OFT.

 

Why are you waiting? You should have reported them a long time ago and included every letter/email in your complaint.

[willnotdoitagain]

I thought you had to wait so long before doing this

[jacktheladuk]

The account was in default with CFO when i offered repayment they didnt accept the first offer but increased it a little. The email I recieved to say they accepted the offer but didnt include what I was outstanding so have emailed them back to ask for a breakdown, lets wait and see, will keep you all posted.

 

My original loan of 300 plus 117 interest was due on 30/4/12, as of last week that figure had shot up to 609!! And they saying they cant accept/consider repayment plan until 33 days after default. I hate to think what that figure is going to end up looking like then!

[renegadeimp]

I thought you had to wait so long before doing this

 

Thats only for the FOS and is 8 weeks from the time you send a formal complaint to the PDL. The OFT which is the regulatory body can be contacted at any time, and they keep a record of all complaints against a PDL. Thats why it is so important that anyone with problems needs to get their complaints in so the OFT can actually crack down on them.

 

If peopel dont complain, then the OFT just thinks that the PDL's and DCA's are working within the law and people are just not paying their debts. They're not psychic. They need to be told.

[renegadeimp]

My original loan of 300 plus 117 interest was due on 30/4/12, as of last week that figure had shot up to 609!! And they saying they cant accept/consider repayment plan until 33 days after default. I hate to think what that figure is going to end up looking like then!

 

Completely against OFt regulation. You need to get that letter/email to the OFT so they can do something.

[jacktheladuk]

Completely against OFt regulation. You need to get that letter/email to the OFT so they can do something.

 

Will do rene, together with a few others

[willnotdoitagain]

I will too

[loveliness86]

I found a template letter on here by rene - have filled out complaints to send to OFT and FOS tomorrow- what do you think about me sending the following to toothfairy via recorded delivery? :

 

Dear Sir/Madam,

NOTICE OF FORMAL COMPLAINT

Please find below the reasons for the complaint.

 

I took out a loan on 16/04/2012 for the amount of £400 with £149 interest. Total amount for loan = £549 which was due 14/05/2012.

 

I have contacted you several times regarding a payment plan for my current loan as I am currently experiencing financial difficulties due to change in my current financial situation. As soon as I was aware of the change in my financial circumstances I notified you to see if an alternative repayment arrangement was possible and I made you aware of what I can afford to pay per month.

You have shown a complete lack of regard for my current situation and declined my offer of a repayment plan. Your rejection of my repayment plan is a breach of Office of Fair Trading guideline regulations which states you must acknowledge a debtors current financial situation and must come to a mutually agreed repayment plan which does not leave the debtor in more financial hardship and must not add on extra charges/interest, thereby inflating the outstanding debt to an amount that is unreasonable and unrealistic for the debtor to repay in any realistic timeframe.

I have notified you multiple times as follows:

 

Email sent : 08/05/2012

Email sent : 09/05/2012

Email sent : 10/05/2012

Email sent : 11/05/2012

Email sent : 14/05/2012

Email sent: 15/05/2012

Telephone Call made: 15/05/2012

Due to other higher priority creditors demanding repayments, I have to use my surplus money that I have in order to meet their repayment plans. This has the effect that my other creditors would need to take a lesser repayment amount until such a time that I was able to repay the amount stated.

 

I have approached a debt management plan company who have advised me that my high priority creditors should take precedence over low priority creditors such as yourselves. Due to this, I now have no spare monies in order to pay anyone else.

 

Regarding the outstanding debt I have with you, you seem to be increasing it as and when you feel like with little to no regard to unfair charges/interest charges. In fact it seems you are randomly increasing it for your own gain. This in legal terms is defined as "unjustly enriching" yourselves. I require you to remove these charges and freeze the interest on the outstanding loan amount to enable me to pay back the outstanding loan amount.

 

I made a telephone call to yourselves on 15/05/2012 at approximately 10am where in which I spoke to an advisor regarding a payment plan. Your advisor was extremely rude and attempted to pressure me into paying more than I can afford by threatening me with additional interest.

Following that initial phone call I then received an offensive email from your in house debt collection agency on 15/05/12 Northern Debt Recovery. The email from Northern Debt recovery states the following:

 

Your current outstanding balance is £631.

On 29.05.12 you will incur the following charges:

£350 recovery fee

1 interest charge of £72 which will make your outstanding balance £1053.

You must pay either:

1) £631 by 28.05.12,

OR

2) £1053 by 11.05.12.

Failure to make either payment will result in your file being passed to a third party bailiff company who will commence proceedings against you in your local county court.

You threaten me immediately with even more unfair interest amounts and penalty charges without acknowledging my attempts to come to a repayment agreement. As you can see, this email is a direct breach of OFT regulations on debt collection practices.

Due to all the above, I now have no other alternative but to file a full and formal complaint with the Office of Fair Trading, Financial Ombudsman Service, OFCOM and Trading Standards. During which you may not pursue this debt in any way until an official response is known.

 

The only way YOU can avoid this action and avoid a lengthy, costly and full investigation is to remove all extra charges and interest accrued on my account, issue a full apology for yours and your partners actions against me, and accept my repayment plan of £200 a month on the total debt owing of the original contracted amount of £549.

Please note, I have NEVER tried to evade or reject responsibility for my outstanding loan. However, I do reject the charges which you have illegally and unfairly added to my account.

 

You have a total of 8 weeks to issue me with a FINAL RESPONSE to this complaint, or accept my proposals and notify me by way of email or letter. Please understand that you must NOT contact me by telephone or text message.

 

I look forward to your acceptance of my proposal.

 

 

Yours Sincerely,

Loveliness

 

Let me know what you think?

[suzyem]

Hi Loveliness

 

Was the payment arrangement you set up with wonga for the original loan plus interest and had you rolled over at any time and was that taken into account?

 

My loan with them is due to be repaid in a few days - they are wanting £1234, but I have already paid £826 in rollovers. I am wondering whether i can get them to agree to the original loan plus 1 month interest with them taking into account what i have already paid them

 

Suzyem

[loveliness86]

Hi Suzyem,

 

The wonga loan that I had wasn't rolled over and hadn't defaulted when I got them to agree to a payment plan. I've posted the emails I sent on this thread you may want to use them as a template to help you get them to agree to a payment plan.

 

Hey everyone,

 

Heres the latest in the ToothFairy/NDR/Paycheck credit saga!

 

I sent my complaint to OFT last week and sent Tooth fairy my formal complaint on monday by recorded delivery. I have been bombarded with emails ever since and texts- which I haven't replied to as I'm waiting for a response to my complaint and heres the one that I received this morning:

 

Dear Loveliness,

 

You agreed to automatic payments to settle your Pay Check Credit Loan .

 

You are aware that these payments are necessary to avoid further charges, recovery and legal action.

 

You were committed to pay GBP 216 by 23.05.2012.

 

The following payment of GBP 216 in relation to your loan Pay Check Credit Loan - Ref 12508241 has been DECLINED by your bank today.

 

Your transaction reference is: 3800101774454597 / 24

Error Code: Card has already expired - The supplied expiry date is in the past

This may appear on your statement as a transaction processed by: tf-f or London Treasury Services

 

Your outstanding balance is GBP 631.

 

By failing to honour this agreement all charges will immediately become due. Recovery Agents will be sent to all addresse s we have on file for you in order to obtain payment. Should this also prove unsuccessful we will be liaising with solicitors who will obtain a County Court Judgement against you. Once this is secured we will return with a Warrant of Execution from the County Court and certified Court Bailiffs to seize goods at 9 times the value of what you owe.

 

It is essential that you honour your commmitment .

 

You should pay GBP 216 by:

 

1. going online at http://www.northerndebtrecovery.com and clicking Pay Now;

 

OR

 

2. making payment to:

Barclays Bank

Account Number: 93462382

Sort code: 20-50-94

Reference: Use your mobile number (447892995018) as a reference so we can match it correctly

 

Please ensure that these funds reach us by the end of business.

 

Note: We reserve the right to contiune to automatically debit your account for the agreed scheduled amount OR the full amount if payment is not received.

 

If you have already repaid and this is not reflected in the above statement please contact us so we can investigate this further and correct your file.

 

Kind regards

 

Pay Check Credit - Collections

 

Bearing in mind I have NEVER agreed to that amount on that date so not sure where they get this info from??? I've always said £200 a month on the 15th of each month and every response I've received is a rejection of my payment plan. They make me sick!

 

I'm awaiting a response to the formal complaint and I am filling out my Financial Ombudsman complaint form also- I think I have to wait for a response before I submit my form to the Financial Ombudsman?

 

Any advice in the mean time? Do I continue to send them emails with my payment plan or just leave it until the complaint is responded to?

[renegadeimp]

Make sure to get everyone of those texts etc in your complaint as its classed as harassment.

 

Also that letter is classed as threatening and needs to be reported as such.

[loveliness86]

Hey Everyone!

 

Here's the latest. I sent my complaint off to the Financial Ombudsman- I have received confirmation of receipt but they stated that it could take up to 8 weeks for them to respond due to a large number of cases they have.

 

The saga continues with PayCheck/Tooth Fairy Finance - I have received several emails from Northern Debt Recovery- they called me last week and caught me off guard- I told them that I refuse to come to a payment plan for £1053 ( That's how much they've added in interest and charges in the space of less than a month- given the amount owed is £400 (£549 with the interest)) So I explained the situation to the person I spoke to and told them that my file was with the Financial Ombudsman- after telling them this they dropped the amount down to £750 and I refused to come to any form of arrangement for that amount and told them that I am only willing to come to arrangement to pay the original amount owed of £549.

 

Following the conversation that I had with NDR I received a letter in the post from Appleton Massey Solicitors saying that they will be applying for a court judgement if I don't pay within 7 days. Today I received a email from Marshall Hoares Bailiffs saying they will be applying to the court for a judgement/ warrant of execution against me if I don't pay in 7 days!!!

 

So do I just leave it until the Financial Ombudsman get back in touch? How likely is it that they can take me to court considering the day that the amount was due was the 14 May- this all seems to be moving too fast if you ask me! I have all the emails and everything that shows that I have tried to come to a repayment plan on 8 occasions so I should be fine- should it go to court.

 

ANY ADVICE WOULD BE APPRECIATED!!! Thanks Caggers!

[renegadeimp]

See what we've been talking about? They know the charges/interest is not enforceable, and youve actually got them on unsteady feet now

 

You MUST update your complaint with the FOS with details of Appleton Massey. Especially if the PDL, NDR, MH and AM are after the same debt.

 

Also:

Appleton Massey Solicitors saying that they will be applying for a court judgement if I don't pay within 7 days. Today I received a email from Marshall Hoares bailiffs saying they will be applying to the court for a judgement/ warrant of execution against me if I don't pay in 7 days!!!

 

You must report that to the FOS and OFT as it is a blatant breach of the OFT guidance on debt collecting. I'm not sure, but i dont think they are able to take you to court while the FOS have an investigation going on, plus if what i have said is correct in this post, and you can confirm it, they will pretty much lose the case before it even starts.

 

If they do try and take it to court, you can submit a full defence stating what you have said here, or even force it to mediation. Although i would ignore the DCA and force it in front of a judge so a rep for each company has to explain themselves, and thats even if they show up.

 

 

OFT guidance on debt collection:

 

Physical/psychological harassment

2.5 Putting pressure on debtors or third parties is considered to be oppressive.

2.6 Examples of unfair practices are as follows:

a. contacting debtors at unreasonable times and at unreasonable intervals

b. pressurising debtors to sell property, to raise funds by further

borrowing or to extend their borrowing

c. using more than one debt collection business at the same time

resulting in repetitive and/or frequent contact by different parties

 

Also, if the original debt is in dispute (edit the following to suit):

 

Dear Sir or Madam,

 

Account number: XXXX XXXX XXXX XXXX

 

ACCOUNT IN DISPUTE

 

I must admit that I am rather bemused as to why this account has been passed to yourselves, as it is in dispute with the **original/DCA** and has been since DATE 2008. Not only is this a breach of OFT collection guidelines, but also in breach of the Consumer Credit Act 1974 and Data Protection Act 1998

 

As **original/DCA** are now in default of my Consumer Credit Act request, OFT Collection Guidelines, Subject Access request and have also breached s10 Data Protection Act request , I consider this account to be in SERIOUS DISPUTE.

 

As you are aware while my Consumer Credit Act request remains in default enforcement action is NOT permitted, under s127 this constitutes a complete defence at law.

 

Consequentially any legal action you pursue will be averred as both UNLAWFUL and VEXATIOUS.

 

Now I would respectfully suggest that this account is returned to the **original/DCA** for resolution of these defaults and breaches, as **New DCA** cannot lawfully pursue any enforcement activities.

 

If **New DCA** chooses to ignore my dispute and attempt enforcement, I will initiate legal action and file reports with the appropriate authorities, including, but not limited to, Trading Standards, Office of Fair Trading, Information Commissioners Office, Financial Ombudsman Service and possible court action.

 

After taking advice, I am of the opinion that any continued pursuit is in violation of the Administration of Justice Act 1970 section 40 as well as breaching a number of the OFT Collection Guidelines

 

Also be advised that I will only communicate with you in writing.

 

Furthermore, should it be your intention to arrange a “doorstep call”, please be advised that under OFT rules, you can only visit me at my home if you make an appointment and I have no wish to make an appointment with you.

 

There is only an implied license under English Common Law for people to be able to visit me on my property without express permission; the postman and people asking for directions etc (Armstrong v. Sheppard and Short Ltd [1959] 2 Q.B. per Lord Evershed M.R.). Therefore take note that I revoke license under Common Law for you, or your representatives to visit me at my property and if you do so, then you will be liable to damages for a tort of trespass and action will be taken, including but not limited to, police attendance.

 

I hope that this will not be necessary and an acceptable solution can be accomplished.

 

I would appreciate your due diligence in this matter.

 

I look forward to hearing from you in writing.

 

Yours faithfully

xxxxx

 

Of course, if you have multiple debts and the DCA's are going for each separately, then ignore the above

Edited June 11, 2012 by renegadeimp

[sillygirl1]

From now on every bit of communication from the unholy trinity of companies MUST go to the FOS... they are unbelievably slow and then do very little, you jumped the gun by complaining to them and not the OFT and Trading Standards who have already sanctioned this mob.

 

If they send court papers get back on here and we can do a defence for you very quickly, these PDL companies use court as a threat and you have a right to defend their mad charges - we have had a few wins and a few losses, a lot depends on the judge on the day and the other side's legal representative. We also have had even more cases where the PDL company has discontinued their case and not filed their £100 allocation fee.. you don't pay this fee at all.

 

You don't need a fully particularlised defence, a factual defence is much better and sets out how you have corresponded with the company and they have refused all offers and increased the debt beyond reason.

 

You can still contact the OFT and Trading Standards and let them know the FOS has your case and copy them in on the correspondence.

[loveliness86]

Hey All,

 

I have updated my complaint to FOS who have only been in touch to say that they have a huge backlog and wont be in touch for 8 weeks. In the meantime I have changed bank accounts and I am managing my money better than before.

 

Only issue I'm having currently is that I entered a repayment agreement with Quick Quid to pay £380 over 3 months because at the time I was in a position to pay that. I have defaulted on that loan over the past two months because after recalculating my finances in reality all I can afford to pay them is £50 a month otherwise I wouldnt be able to pay bills rent etc.. They have sent me numerous emails demanding payment and threatening recovery action. What shall I do? Should I contact them again with a list of my outgoings that shows that I can only afford to pay £50 a month? Or is that pointless as I have broken the original agreement? Has anyone ever seen them agree to a payment plan longer than 3 months?

 

HELP!!!

[renegadeimp]

If your situation changes, then you MUST advise them as you did before. This covers your back as they cant say you never tried to inform them so alternative arrangements can be made.

 

Quick Quid have a nasty habit of lying to authorities. They will harass, bully and intimidate you every second of every day, but if you dont inform them of your situation and a regulatory investigation happens, they will simply say " Well, if Mr/Mrs X had advised us of their new circumstances, we would have been able to update their plan".

 

 

Thats why, regardless of what the PDL's choose to do, it is vitally important you keep a creditor advised of your financial situation and keep a copy of the communication and record of delivery. As i mentioned, it covers your back, and stops situations like the above from happening.

[2009dg]

Hey All,

 

I have updated my complaint to FOS who have only been in touch to say that they have a huge backlog and wont be in touch for 8 weeks. In the meantime I have changed bank accounts and I am managing my money better than before.

 

Only issue I'm having currently is that I entered a repayment agreement with Quick Quid to pay £380 over 3 months because at the time I was in a position to pay that. I have defaulted on that loan over the past two months because after recalculating my finances in reality all I can afford to pay them is £50 a month otherwise I wouldnt be able to pay bills rent etc.. They have sent me numerous emails demanding payment and threatening recovery action. What shall I do? Should I contact them again with a list of my outgoings that shows that I can only afford to pay £50 a month? Or is that pointless as I have broken the original agreement? Has anyone ever seen them agree to a payment plan longer than 3 months?

 

HELP!!!

 

I'm having the same problems with QQ. They are refusing to agree to £50 a month and initually the plan was for only 10 months then they eventually went to 12 months but it still wasn't £50 a month that I could afford. Yet again I shall be writing to them and updating the OFT.