FLM QUICK Where’s the justice???

[geeza2012]

Hi I’ve taken a small loan with FLM Quick of the amount £500 in approximately in May to July 2011.

 

I at that time was in full timeemployment and had been for 9 year’s.

Towards the end of February I resignedand now I am unemployed and am on JSA.

 

Since I’ve taken this loan I’ve been charged £558.23 & that’s all INTREST& CHARGES.

Some month I get INTREST & CHARGES two times within a month and even three timesa month.

 

They are now e-mailing me and textingme They are now e-mailing me and texting me also I have a Guarantor that’s unemployedand was when I was given this loan from them.

 

She can’t afford to pay it back soI will have to but not until I start working again.

It’slike I have paid nothing off and am still at square one.

 

 

1)What can be done about this?

 

2)Wouldn’t you say this is unfair xxxxxxxxxx making working class peoplevictims???

 

3)I don't know what next steps to take I need some ideas please if anyone hasbeen in the same situation.

[rebel11]

Hi geeza

 

You don't need a 'Poll' to get help and advice, you thread has been moved to the correct forum.

[renegadeimp]

You are unemployed so only offer £1 a month. They can take whatever action they like. A court wouldnt make you pay a penny more and could even tell you to stop paying altogether until a certain date.

 

Quick question? How much have you paid so far, and what was the FULL amount stated in your original contract? (Loan plus interest)

Edited May 13, 2012 by renegadeimp

[geeza2012]

Hi geeza

 

You don't need a 'Poll' to get help and advice, you thread has been moved to the correct forum.

 

I am new to this so learning as i go a long,thank for letting me now and moving me to the correct forum.

[geeza2012]

You are unemployed so only offer £1 a month. They can take whatever action they like. A court wouldnt make you pay a penny more and could even tell you to stop paying altogether until a certain date.

 

Quick question? How much have you paid so far, and what was the FULL amount stated in your original contract? (Loan plus interest)

 

So what do i do now like my step by step move??

 

My loan was of £500

I have paid so fare £558.23

I have paid INTREST AND CHARGES OF £558.23

SO MY OUTSTANDING BALANCE IS NOW £522.80

This is the agreement when payments are missed.

 

8. DEFAULT AND OTHER CHARGE8.1 You will reimburse us in respect of any costs or expenses that we reasonably incur in enforcing the terms of this

agreement following your default or an event described in clause 7.2 including legal costs, court fees and costs

incurred in tracing you if you change your address without notifying us.

8.2. The following charges will also be payable:

8.2.1. £20 if we do not receive an amount due from you within 3 days of its due date;

8.2.2. £7 if an amount due from you has not been repaid within 7 days of it falling due;

8.2.3. £7 if an amount due from you has not been repaid within 18 days of it falling due;

8.2.4. £20 if an amount due from you has not been repaid within 40 days of it falling due;

8.2.5. £20 for each occasion when a cheque or claim for payment by direct debit is not met on first presentation;

8.2.6. £7 if we have to write to you when you miss a payment.

[renegadeimp]

Please reread my post and provide the info i asked for. You dont owe them all that interest or charges. You need to change your entire mindset when dealing with PDL's. The key info here is that you need to be sure of the original contracted amount and you NEED a full breakdown of the entire debt before you pay ANYTHING else.

 

So in short:

 

Find the original loan amount plus original interest.

 

Write to the PDL or email them ( dont phone them) and demand a full breakdown of the debt.

 

Once you have that info, post it up here, and remove any personal info.

 

You have pretty much paid off the entire amount you owe if youve already paid them £558.23. We just need the above info to be 100% sure in order to advise you further and to make sure they dont chase you any further.

 

 

Also in your post, they talk about default and other charges. Ignore that entire section. They cannot charge you 4 times for a default, they cannot charge you £20 for a DD or cheque that doesnt go through and they cant charge £7 per letter.

Edited May 13, 2012 by renegadeimp

[geeza2012]

Please reread my post and provide the info i asked for. You dont owe them all that interest or charges. You need to change your entire mindset when dealing with PDL's. The key info here is that you need to be sure of the original contracted amount and you NEED a full breakdown of the entire debt before you pay ANYTHING else.

 

So in short:

 

Find the original loan amount plus original interest.

 

Write to the PDL or email them ( dont phone them) and demand a full breakdown of the debt.

 

Once you have that info, post it up here, and remove any personal info.

 

You have pretty much paid off the entire amount you owe if youve already paid them £558.23. We just need the above info to be 100% sure in order to advise you further and to make sure they dont chase you any further.

 

 

Also in your post, they talk about default and other charges. Ignore that entire section. They cannot charge you 4 times for a default, they cannot charge you £20 for a DD or cheque that doesnt go through and they cant charge £7 per letter.

 

I see what your looking for its saved on line and i have to log in to see the agreement as i don't have it in writing.

 

Total Amount Payable and APRWe are required to provide you with an example of the total amount you would pay if you were to have a

credit limit of and borrow £500.00 and repay that amount, together with interest, over the period of one year

by 12 equal monthly instalments, assuming there was no change to the interest rate during that period. On

these assumptions the total amount payable would be £861.65 and the annual percentage rate of charge

would be 199%. The actual amount you will pay under this agreement will depend on how long you take to

repay the Initial transaction, the amounts you draw down under this agreement in future and how long you

take to repay those drawdown's.

I do have a statement online but its not on paper and don't explain much.

Ok once i can get the template and how to write it out i will post it here once i get the breakdown.

Thank you once again

[geeza2012]

Please reread my post and provide the info i asked for. You dont owe them all that interest or charges. You need to change your entire mindset when dealing with PDL's. The key info here is that you need to be sure of the original contracted amount and you NEED a full breakdown of the entire debt before you pay ANYTHING else.

 

So in short:

 

Find the original loan amount plus original interest.

 

Write to the PDL or email them ( dont phone them) and demand a full breakdown of the debt.

 

Once you have that info, post it up here, and remove any personal info.

 

You have pretty much paid off the entire amount you owe if youve already paid them £558.23. We just need the above info to be 100% sure in order to advise you further and to make sure they dont chase you any further.

 

 

Also in your post, they talk about default and other charges. Ignore that entire section. They cannot charge you 4 times for a default, they cannot charge you £20 for a DD or cheque that doesnt go through and they cant charge £7 per letter.

 

Ok now i need to write to the PDL, can you direct me into which template i can use or even better help me word it please?

 

Total Amount Payable and APRWe are required to provide you with an example of the total amount you would pay if you were to have a

credit limit of and borrow £500.00 and repay that amount, together with interest, over the period of one year

 

by 12 equal monthly instalments, assuming there was no change to the interest rate during that period. On

 

these assumptions the total amount payable would be £861.65 and the annual percentage rate of charge

 

would be 199%. The actual amount you will pay under this agreement will depend on how long you take to

 

repay the Initial transaction, the amounts you draw down under this agreement in future and how long you

 

take to repay those drawdown's.

 

Now i need only how to word the letter and also a template really for the breakdown.

Thank you for your time.

 

[renegadeimp]

All you need to do is write and ask them for a full breakdown of the amount they claim you owe. Chances are they've applied a LOT of unfair and possibly illegal charges on to it.

[geeza2012]

All you need to do is write and ask them for a full breakdown of the amount they claim you owe. Chances are they've applied a LOT of unfair and possibly illegal charges on to it.

 

Great do you have a template I could use please?

[renegadeimp]

No need for a template. Just write and ask for a full breakdown of the debt. They are obliged to give you one upon request.

[geeza2012]

Type or write it?

Shall I type and then sign print and date it??

[renegadeimp]

Type it and type the signature . NEVER ever sign it. There have been way too many reports of PDL's and DCA's taking someones signature and attaching it to bogus documents so they can try and win a court case or force you to pay more money,

[renegadeimp]

Hi again Geeza2012. I'm going to give your thread a good read again, and i will try to set out things as simply as i can for you.

 

Meanwhile, have a read of my thread , http://www.consumeractiongroup.co.uk/forum/showthread.php?349703-Payday-Loan-Companies-and-OFT-Guidance-on-Debt-Collection and compare your dealings with the PDL to that info, and let me know if you think they have broken any guidance regulations.

[geeza2012]

Thank you very much later tonight I will go throw the link you sent me. Im glad these kind of companyies can't get away with this bad practice.

[geeza2012]

Hi again Geeza2012. I'm going to give your thread a good read again, and i will try to set out things as simply as i can for you.

 

Meanwhile, have a read of my thread , http://www.consumeractiongroup.co.uk/forum/showthread.php?349703-Payday-Loan-Companies-and-OFT-Guidance-on-Debt-Collection and compare your dealings with the PDL to that info, and let me know if you think they have broken any guidance regulations.

 

Can i post you the letter for the breakdown ive requested from them, see what you think,but i will exclude my details.

[renegadeimp]

Sure. Go for it.

 

I'll write up a overall response for you later today regarding your situation. I was going to do it last night but was called into work.

[geeza2012]

Sure. Go for it.

 

I'll write up a overall response for you later today regarding your situation. I was going to do it last night but was called into work.

 

 

MY NAME :

ADDRESS:

 

FLM Quick HaymarketLending Ltd. Walton House, 56-58 Richmond Hill, Bournemouth, BH2 6EX.

 

DATE

 

Dear Sirs

 

Re: Agreement:REFERENCE NUMBER

 

 

I would be grateful if you could, within the next 12 working days, provide mewith the following information, pursuant to Section 77 of the Consumer CreditAct 1974:

 

A copy of my original loan agreement along with a breakdown of the total sumpaid under the agreement to date and the total sum which is left to be paid.

 

I would be grateful if you could also advise me of the outstanding amount Iwould be required to pay, should I wish to redeem the loan I have with yourfirm now. As well as this figure, please also send me a redemption statementshowing how the redemption figure is made up.

 

Finally, I would be grateful if you could also send me any other data held byFLM QUICK, Haymarket Lending Ltd pursuant to S7 ofthe Data Protection Act 1998.

 

Yours sincerely,

NAME

 

Hope the address is right if not can you send it to me,i have not yep printed it out only added my details once its checked i will then print and send it.

Hope this helps other to.

[renegadeimp]

Finally, I would be grateful if you could also send me any other data held byFLM QUICK, Haymarket Lending Ltd pursuant to S7 ofthe Data Protection Act 1998.

 

Change to " I require you to send me any and all other data held by FLM Quicj, Haymarket Lending Ltd holds on me pursuant to S7 ofthe Data Protection Act 1998."

 

I would be grateful if you could also advise me of the outstanding amount Iwould be required to pay, should I wish to redeem the loan I have with yourfirm now. As well as this figure, please also send me a redemption statementshowing how the redemption figure is made up

 

Change to i "require that you advise me" and "i require a redemption statement."

 

I would be grateful if you could, within the next 12 working days, provide mewith the following information, pursuant to Section 77 of the Consumer CreditAct 1974:

 

Again, " i require that you send within the next 12 working days."

 

 

 

Don't ask them. DEMAND it as it is your legal right.

[geeza2012]

I also just now found this template which one would you say is better? lol.

 

The Loan Company

Company House,

Church Street,

Newtown,

Kent,

R1 7HG

 

Date

 

Dear Sir/Madam

 

Re:− Account/Reference Number 1234567890

 

I do not acknowledge any debt to your company or its clients. (delete this line if you are not disputing the debt)

With reference to the above agreement, I require you to supply the following documentation before I will correspond with you further on this matter.

 

1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement, under the legislation contained within s.78 (1) Consumer Credit Act 1974.

 

2. A full statement of account.

3. A signed true copy of the deed of assignment of the above referenced agreement that you allege exists.

4. A copy of any other documents referred to in the agreement.

 

I understand that under the Consumer Credit Act 1974 (Sections 77−79), I are entitled to receive a copy of our credit agreement on request. I enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act. Please note that under no circumstances should this payment be set aside any alleged debt. If you are unable to supply the documentation requested, this fee should be returned.

 

I understand a copy of our credit agreement should be supplied within 12 working days.

I understand that under the Consumer Credit Act creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.

 

I look forward to hearing from you.

 

Yours faithfully

 

 

 

Mr A N Other

[renegadeimp]

If its a CCA you are after then yes.

[geeza2012]

Change to " I require you to send me any and all other data held by FLM Quicj, Haymarket Lending Ltd holds on me pursuant to S7 ofthe Data Protection Act 1998."

 

 

 

Change to i "require that you advise me" and "i require a redemption statement."

 

 

 

Again, " i require that you send within the next 12 working days."

 

 

 

Don't ask them. DEMAND it as it is your legal right.

 

 

Finally this is my version edited aswell.

 

NAME :

ADDRESS:

FLM Quick HaymarketLending Ltd. Walton House, 56-58 Richmond Hill, Bournemouth, BH2 6EX.

DATE

Dear Sirs

 

Re: Agreement:REFERENCE NUMBER

I require that you send me within the next 12 working daysthe following information, pursuant to Section 77 of the Consumer Credit Act1974:

 

A copy of my original loan agreement along with a breakdown of the total sumpaid under the agreement to date and the total sum which is left to be paid.

 

I require that you advise me of the outstanding amount I would berequired to pay, should I wish to redeem the loan I have with your firm now. As well as this figure I require a redemptionstatement showing how the redemptionfigure is made up.

 

I require you to send me any and all other data held by FLM Quick,Haymarket Lending Ltd holds on me pursuant to S7 of the Data Protection Act1998."

Yours sincerely,

NAME

[geeza2012]

well thank once again ome morning im going to post this als they habe charged my Gartor allready.

[geeza2012]

If its a CCA you are after then yes.

 

Hirenegadeimp,

I’ve posted it off today so let’s see what they say to me, I also got a letter from them saying the amounts £4....p was due on..... May 2012 has failed to clear.

 

Despite repeated attempts to contact you by phone and SMS we have been unable too btain a payment etc.......

We are also in the process of contacting your guarantor.............. About the arrears.

 

Logging on www.flm........And make a payment immediately.

Also you said CCA what is that???

 

Edited May 18, 2012 by geeza2012

[geeza2012]

Hirenegadeimp,

I’ve posted it off today so let’s see what they say to me, I also got a letter from them saying the amounts £4....p was due on..... May 2012 has failed to clear.

 

Despite repeated attempts to contact you by phone and SMS we have been unable too btain a payment etc.......

We are also in the process of contacting your guarantor.............. About the arrears.

 

Logging on www.flm........And make a payment immediately.

Also you said CCA what is that???

 

Ok I have my breakdown from FLM QUICK can you please have a look and tell me what I can do?

I'm using my iPhone and have a copy which is edited on my iPhone I scanned it in.

How can I post it here? Or is there a e-mail I could send it to pleas?