Payday loan mess

[Dizaster]

OK. making a complaint to the OFT is very easy. You can either do it by post: http://www.oft.gov.uk/shared_oft/Credit/complaint-form.pdf and send that form to:

 

Enquiries and Reporting Centre

Office of Fair Trading

Fleetbank House

2-6 Salisbury Square

London

EC4Y 8JX.

 

Or you can do it by email: http://www.oft.gov.uk/contactus or [email protected]

 

How would I word such a complaint does it matter how I word it or what I say? What happens after I make a complaint would they get in touch with the DCA?

 

I want them to drop the charges so I can start paying the balance.

 

 

Thanks once again

[renegadeimp]

Best thing to do is fill the form in and send it. When it asks for additional infi, simply write in the box " see attached notes" and type them up on A4 paper, clearly labelled.

[Dizaster]

Best thing to do is fill the form in and send it. When it asks for additional infi, simply write in the box " see attached notes" and type them up on A4 paper, clearly labelled.

Ok thanks I'm filing that in now.

 

What happens next? How do I prevent these sharks from turning up at my door?

[renegadeimp]

Have a read of http://www.consumeractiongroup.co.uk/forum/content.php?441-If-you-do-receive-a-doorstep-visit-we-give-these-suggestions-to-Members

 

If they turn up after sending the letter, tell them in whatever language you want to get lost.

[Dizaster]

You have still not contacted us regarding your outstanding debt with our client Speed Credit in respect of your Speed Credit Pay Day Loan*.

 

Please note that:

- all evidence and correspondence will shortly be sent to Solicitors and a case file prepared to be presented to the County Court for Judgement

- expect Recovery Agents to visit all addresses we have on file for you.

- your file is also with Bailiffs who will be pursuing this in conjunction with Solicitors.

 

We recommend you call immediately as we may be able to freeze any imminent activity on your file and come to a suitable arrangement with you.

 

You currently owe:

 

Loan and Interest GBP196

Cash Transmission Fee GBP 5

Missed Payment Fee 1 (day 29) GBP 10

NDR Accept Case File GBP 200Missed Payment Fee 2 (day 43) GBP 10

Solicitors - Case Preparation GBP 150

 

Repayments todate GBP24

Total GBP 547

 

You will be liable for the full amount and further Court fees if you do not contact us immediately on 0843 381 0843.

 

Yours sincerely,

[renegadeimp]

Get that letter to the oft. It breaches regulation in multiple ways. Those charges are unfair and if you contested them youd find that they would be removed completely before any court action ever happens.

[mori101]

Hi

 

I have tried to barter with my PDLs and the only one playing ball is Quick Quid. Payday express, Payday UK - are being blatantly pedantic even tho I have sent them an income and expenditure breakdown - and Lending stream have not replied yet. This is seriously stressing me out and its making me depressed. I know I was so stupid to take out these loans but I feel I have no where to turn to. heres what i owe:

 

Quick Quid: 875 (payment plan over 4 months at 218.75)

Payday Express: 415 (offered 90 over 5 months approx)

Payday UK: 310 (70 offered over 5 month approx)

Lending stream: £600 (offered 70 over 4 months then 288.75 for 2 months)

1month loan: 75 (plan to pay this off in July)

 

At a stretch I can afford to pay £480 among these creditors - I have other debts that I am paying as well but its the PDLs that are killing me every month.

 

Payday UK wont accept as 'the amount offered is higher than the deferral fee' so essentially because I can afford to defer they wont accept! I said quite clearly, that I did not wish to constantly pay interest and deferral fees, I wanted to pay my balance and as I was in financial difficulties I would never be able to afford to pay it off in one go.

 

Payday Express say they need proof of income loss etc

 

Lending stream have not bothered.

 

Any help with dealing with this would be appreciated. I work in finance and I'm also very afraid that I will lose my job if I have to default or be in arrears.

[Dizaster]

I just found out that ToothFairy/speedcredit are the same company as NDR! And that they have been investigated in the past for thier charges and practises, there is even rules to which they have to obide by otherwise they face an £50,000 fine and could be stripped of thier consumer credit licence.

 

.http://blogs.mirror.co.uk/investigations/2011/09/this-wont-hurt-a-bit-says-payd.html

 

I can't believe noone pointed this out before, this changes everything!

 

I have sent them a very nice and long email and hope we can come to some arrangement.

QuickQuid and PaydayExpress are still being *ssh*les

[renegadeimp]

Theyve already been investigated and almost lost their lcense. Theyre about to be invstigated again due to possible major breaches of their license.

[MARTIN3030]

I can't believe noone pointed this out before, this changes everything!

 

Its well reported on the site-many times.

[MARTIN3030]

http://www.consumeractiongroup.co.uk/forum/showthread.php?324445-Toothfairy-Finance-CIM-Technologies-Marshall-Hoares-Northern-Debt-Recovery

[Dizaster]

Ah I didn't see that one, I have seen a lot of people saying the same as me. These people need to be shut down!

 

I'm sure if we all put our complaints in they will be investigated I can't belive how blazè they are knowing why they are doing is breaking all the rules.

[renegadeimp]

Toothfairy very nearly lost their license last time. This could be the nail in the coffin for all 3 companies now. Lets hope so anyway. If you know anyone that has had any dealings with any of these 3 companies, please, PLEASE tell them to file full complaints with the OFT. It's the only way anything can actually happen. If nobody puts in complaints, then the OFT can't do their job, nor can the FOS.

[Dizaster]

SpeedCredit is the worst company I've ever had the pleasure to converse with. They are constantly calling me every day dispute me sending the don't call letter and many of my own on soapy occasions.

 

They refuse to let me set up a payment plan, they actually accepted a £35 a month plan, as I thought it would stop them turning up on my door step and calling me. But then I sent NDR an email requesting them to stop calling me since it breaks the OFT Guidlines (which I have been reading and is interesting how many rules this company and they are still operating) and I have set up a plan do I don't see why I'm still getting calls, 8 so far today.

 

I then get an email back demanding the £581! This is a joke, I emailed them and told them to take me to court as I'm fed up with the way I'm treated. Because I'm not going to lock myself into a payment plan for a year when they won't stop calling me and their charges are just extortionate.

 

Paydayexpress are still calling and texting on a daily basis, I have sent them many emails but they have chosen to ignore them.

 

QuickQuid are also being difficult, I sent an email regarding a payment plan last week, but it seems they are ignoring me too.

 

PaydayUk have frozen all charges and calls and have agreed to £15 a month plan. It turns out it wasn't them calling most of those times from before, I suspect it was SpeedCredit.

 

I have already sent complaints to the OFT regarding SpeedCredit.

 

ADoes anyone have any advise regarding speedcredit?

 

They keep sending an email Stating they are dispatching ground units (LOL) and theta more charges are going to be added.

 

And what about the OFT? What will happen next?

[Dizaster]

10/07/12 12:33

 

Dear Anon,

 

Thank you for your message.

 

We are willing to accept £35 per month for a period of 3 months starting from July 27.07.12, after 3 months we will need to review and you will have to increase you offer.

 

Please confirm if you wish for us to take the payment automatically from your card ending with ****5650?

 

Yours Faithfully

 

samanthaconner

 

Door Collections

 

Marshall Hoares Bailiffs

 

Then I get this...

10/07/12 16.04

 

Dear Anon,

 

Thank you for your message.

 

A letter pack will be sent to your address.

 

The quickest way to pay is directly via out website. Our website is http://www.marshallhoares.com

 

Our bank account details are as follows:

 

Account number – ********

 

Sort code – **-**-**

 

Ref: either your mobile number or loan ID number (********* or *********)

 

Please note if you decide to transfer money into our bank account, you need to allow 5 business day for the money to clear and for it to be logged onto your file.

 

Yours Faithfully

 

samanthaconner

 

Door Collections

 

I think it's strange that they say it takes 5 days for the payment, even though they are instant. It's like they want the payment to be "late" so they can take me off the plan and add more charges.

 

I get this email next...

Dear Anon,

 

Thank you for your message.

 

You will incur an interest charge and a miss payment fee on the 23.07.12 as you will only pay on the 27.07.12, so your total outstanding balance by then will be £615.

^^^^(2)

We have schedule a payment for the 03.08.12 for the amount of £615 so you will not incur any other interest or charges and it gives the necessary time for the money to be logged on to your file.

 

Yours Faithfully

 

samanthaconner

 

Door Collections

 

Marshall Hoares Bailiffs

 

(2) yet another way they have found to add more charges

(1) have you noticed the name looks strange? I had one email and where the name is supposed to be it said [stagename] looks like they are using fake names.

 

It gets more strange ....

 

10/07/12 17:13

 

Dear Anon,

 

Thank you for your message.

 

We have amended the schedule payment.

 

We have schedule a payment for the 03.08.12 for the amount of £581 so you will not incur any other interest or charges and it gives the necessary time for the money to be logged on to your file.

 

Then I get this from NDR!...

10/07/12 17:31

 

Dear Anon

 

I am writing to confirm your conversation with our agents / debt collection agencies regarding your Speed Credit Pay Day Loan* and your agreement to pay:

 

03.08.12 - £581

 

 

This agreement has been noted on your permanent file.

 

PLEASE NOTE:

 

If YOU fail to HONOUR this agreement, and pay as agreed, our systems will AUTOMATICALLY take the following actions:

 

1. FULL fees and charges will be added to your account.

 

2. Full interest will be added retrospectively.

 

3. An application will be made to the courts for a County Court Judgement to be registered against your name, an application will then be made for a Warrant of Execution to either seize goods and/or obtain an attachment of earnings / benefits. Bailiffs may be instructed.

 

This should be taken seriously. It is ESSENTIAL you honour the agreement you made

 

Yours sincerely,

 

 

DEBT MANAGER - Greg Campbell (108)

NORTHERN DEBT RECOVERY

 

Obviously confused by this as we had just previously set up a plan, I send them a message to that effect and get this reply...

 

10/07/12 18:09

 

Dear Anon,

 

Thank you for your message.

 

You are in an active repayment plan.

 

Your payment is on the 03.08.12 for the amount of £581.

 

Yours Faithfully

 

samanthaconner

 

Door Collections

 

Marshall Hoares Bailiffs

 

After sending a long message blah blah OFT blah blah

 

I get this...

 

11/07/12 09:50

Dear Anon,

 

Thank you for your message.

 

We have amended your repayment plan as you requested.

 

Your first payment is on the 27.07.12 for the amount of £35.

 

Please be aware that after 3 months you will have to contact us and increase your offer.

 

Yours Faithfully

 

samanthaconner

 

Door Collections

 

Marshall Hoares Bailiffs

 

You think that would be it, then I get this ...

 

11/07/12 15:19

 

Dear Anon,

 

Thank you for emailing us.

 

 

 

Payment Plans

 

It is always advisable to stay in contact with your creditors to avoid additional penalty charges.

 

Loans are meant to be repaid in full at the end of the initial loan term. This is made very clear in the terms and conditions you agreed to when you took out the loan.

 

We cannot accept a payment plan.

 

Please confirm when you will be making FULL PAYMENT to close your file.

 

Please note payment of GBP 581 needs to be made by 23.07.12 to stop this file being passed to third party Recovery Agents and further fees being added.

 

however......

you can rollover / extend your loan by just paying the interest on day 28 of your loan. You will receive an email explaining this when you are eligible

 

 

Yours sincerely,

 

 

COLLECTIO NS

NORTHERN DEBT RECOVERY

0843 381 0843

 

 

 

What do you guys make of that?

[renegadeimp]

Can you format your posts so each letter is in a "quote" box. It would make it much easier to read. As for Marshall hoares demands/unltimatums, tell them to go take a running jump. YOU are in control of what you repay. NOT THEM. Tell them to go and study OFT guidance on debt collection in detail, then file a full complaint with the OFT. Include as much info and evidence as possible, as these morons are goign to be investigated alongside toothfairy and speedcredit.

[Dizaster]

Can you format your posts so each letter is in a "quote" box. It would make it much easier to read. As for Marshall hoares demands/unltimatums, tell them to go take a running jump. YOU are in control of what you repay. NOT THEM. Tell them to go and study OFT guidance on debt collection in detail, then file a full complaint with the OFT. Include as much info and evidence as possible, as these morons are goign to be investigated alongside toothfairy and speedcredit.

 

Sorry about the format I'm using an iPhone and it doesn't let you do anything apart from post.

 

SC have said they are sending me a pack in the post wheni asked for thier formal complaints procedure as I intend on making a complaint to the FOS, let's see if that actually turns up!

[renegadeimp]

Make sure you report marshall hoarea as they are under invlestigation atm.

[Dizaster]

Make sure you report marshall hoarea as they are under invlestigation atm.

I have included them in the complaint about SpeedCredit as they are obviously one company

[renegadeimp]

Yep. There is plenty of evidence to support it. Some people not connected to this site have even done deeper research "behind the scenes" and foudn them to be working as the same company. At one point, i think a PDL called Bonza loans or some name like that was using the same details as the other companies.

[MARTIN3030]

Licence Number:0613263

Licence Status:Current

 

Current Applicant / Licensee:

 

Business NameCompany Registration Number MCO Capital ltd6472855

 

Public Notices:

 

StageDateDocument LinkEvent NumberNotes Minded To Revoke13/03/2012

8 Minded to Refuse to Vary13/03/2012

11 Minded to Refuse to Vary13/03/2012

5 Minded to Refuse to Vary13/03/2012

4 Minded to Refuse to Vary15/09/2011

4This notice has been withdrawn before any determination was made and a new notice issued on 13 March 2012. Minded to Refuse to Vary15/09/2011

5This notice has been withdrawn before any determination was made and a new notice issued on 13 March 2012. Minded To Revoke15/09/2011

8This notice has been withdrawn before any determination was made and a new notice issued on 13 March 2012.

 

Categories:

 

Consumer credit

 

Right To Canvass Off Trade Premises:No

 

 

Trading Name(s) (Current):

 

Paycheckcredit Popcredit Speedcredit

 

Issued Date: 06-Feb-2008

Expiry Date: 06-Feb-2013

 

 

Legal Formation:

 

Body Corporate (incorporated inside UK)

 

Current Individuals that run the organisation:

 

NamePosition Antti Osmo Ritvonen Gordon John Reykdal Stefan William Johnson

[renegadeimp]

Looks like this time will be their last martin

[MARTIN3030]

The variations they were after appears to have included a trading name - Getlolly

 

Event Details:

 

 

Event Number Event Type Date of Receipt Closed Date Status 11 Variation 31-Oct-2011

Open Licence Event Details:

 

Public Notices:

 

StageDateDocument LinkNotes Minded to Refuse to Vary13/03/2012

 

 

Address TypeAddressAction CorrespondenceGrundberg Mocatta Rakison LLP, Imperial House, 15-19, Kingsway, London, WC2B 6UN, United KingdomPending Principal Place Of BusinessGrundberg Mocatta Rakison Llp, Imperial House, 15-19, Kingsway, London, WC2B 6UN, United KingdomPending Registered Office11, Pilgrim Street, London, EC4V 6RN, United KingdomPending

Trading Names:

 

NameAction GetlollyPending

[MARTIN3030]

The 2 directors running MCO Capital are listed on CH as being Gordon John Reykdal and Stefan William Johnson.

 

 

 

In addition Gordon John Reykdal holds directorships of 3 further companies,one of which holds a current CC licence. http://www2.crw.gov.uk/pr/default.aspx

[MARTIN3030]

I did not find any evidence that suggests speedcredit or MCO Capital have any connections with MH NDR or other PDL companies outside those listed on their CC licences.