Toothfairy fast-track loans

[devonlad]

I am writing in the hope that someone else has experienced this and may be able to clarify things for me. I can't seem to find any information about this anywhere.

 

I have taken out 5 loans in total with Next credit. I can't remember the exact application process I went through with the first loan but all other 4 loans were applied for using their "fast-track SMS service" where you text the word LOAN followed by your surname to a certain number. You then get a reply asking you to send another text containing the word LOAN followed by the amount you want (100, 200, 300 or 400). Then you get another text about 5 minutes later saying that the money had been transferred meaning the loan is active.

 

Now the last loan I took out is in default and has escalated from the original £400 to £1374 within about 6 weeks (a complete joke I know). I have CCA'd them and they have responded with something that vaguely resembles a credit agreement.

 

Along with the document they wrote that:

 

"You should note that you have demonstrated acceptance of the published terms and conditions by virtue of the compliant digital signature (double email) inherent in the audited application process (as per the 2006 European Commission Electronic Signatures Directive)."

 

The thing is I never entered my email twice anywhere during any part of the application process (for this loan). I just sent the 2 text messages as described above. Do they mean the possible double signature I gave them for my first loan? Surely they have to get a new double signature for every new loan that's taken out, correct?

 

I'm in no way trying to get out of paying them back but I want the upper hand when I negotiate what I am prepared to pay them back (certainly not £1374!)

This way I can say that, should this go to court, they don't have a leg to stand on without a properly executed credit agreement and that any offer I make them is is purely to close the account once and for all. Either that or we can slug this out in court (which I am getting more and more prepared to do).

 

Of all 7 creditors I'm currently dealing with this lot are by FAR the most difficult to deal with.

 

Sorry that this post is so long winded but I hope that someone else could make use of this information (should I get a response )

 

Thanks guys

[sillygirl1]

You owe the last loan amount and interest as stated in the final contract - no point CCAing them.

 

Read other Toothfairy threads and be prepared for misguided info from Marshall Hoares bailiffs - who cannot use their bailiff powers on this debt and their other cronies.

 

Then complain to the OFT.

[devonlad]

You owe the last loan amount and interest as stated in the final contract

 

Do you mean the interest that applies for the duration of the agreement (14 days)? This would be the loan amount of £400 plus £120 interest. Or do you mean from the start of the agreement to todays date? I read somewhere that creditors cannot charge extra interest until a default notice has been issued and 29 days have passed since issuing the default notice. This would make the extra incurred interest unenforceable.

 

 

no point CCAing them.

 

Why? I'm guessing that you are certain that they won't be able to comply. Or is there another reason?

 

Then complain to the OFT.

 

Ive already done so but will update my complaint and include all the other drivel these idiots have sent me!

 

Thanks again for the response. I really appreciate it!

[renegadeimp]

There was a recent court case i think that basically made the CCA useless unloess used in certain situations.

[devonlad]

Really? So will that work in favour of the creditor or debtor? Would be interesting to see the details of this case

[renegadeimp]

Im not 100% sure of the specifics. I just understand that the CCA request doesnt have the power it once did.