Payday loans (Prob heard it all before

[vegas2003]

HI I have got myself into a mess with some payday loans.

 

I took them out over the last year and have been roling them over ever since and using other ones to pay them off and back and forth-- ie taking from Peter to pay Paul

 

At present I owe

Wonga 450

Quick Quid 950

Txt loan 700

 

My original loan with Wonga was £400 and i did pay rollover payments for about 4 months

 

My original loan with QQ was £700 and also paid a number of months interset ect

 

My original loan with Txt loan was 350 and again i had paid this back a number of times and took it out again.

 

I had other smaller ones which i have now cleared,

 

at present i have not paid these loans for the last 3-4 months and have been ignoring constant calls and letters ect.

 

I no what to get rid of them and a family member has today taken a loan of £2000 out for me,

however I think the charges and rates they have added are ridiculous and

given the fact i had paid so many months interest on them dispute what i owe.

 

Does anyone no if these companies will accept a reduced settlement to get rid off them

and making sure my defaults on my credit file become satsified?

 

Or do i have to request my credit agreemtment to work out exactly how much i owe and have paid ect...

Any advice will be great,

 

this is my first post an

 

i am new to this.

[evelynwaughwasaman]

Hi and welcome.

 

I have had no personal experience with Quick Quid so someone else will need to advise you on them. I have however had dealings with Wonga and TXT Loan. First and foremost you should email each of them advising them of your situation. I would acknowledge that you’re aware you have not paid anything to them in the last few months but make them aware that this has been down to stress and worry.

 

When I was dealing with Wonga and TXT I did not submit any expenditure information; however a lot of posters on here recently have indicated that they’re asking for these more often. They might come back to you and request this and as far as I’ve read the best thing to do is include as little information as possible – only monetary values incoming/outgoing.

 

I have to say that my experience with both of these companies were fairly timid in comparison with some of the things I’ve read online. You have to be firm with them though and let them know that the interest/charges/any other fees are too much for you to afford and you won’t be paying them any more than the original loan was for and one month’s interest.

 

You should ask them to accept your offer and make it clear that you do wish to honour your debt but that things have just got on top of you. Make it clear that you’re suffering financial hardship and simply cannot afford the sums they are asking along with your other monthly commitments.

 

I found TXT to be very accommodating actually – I used one of the templates from the library here and edited it slightly. They accepted my terms and I only paid back the original loan amount with no extra fees. With Wonga I was a bit like you – I ignored it for about six months before getting fed up of the letters and realising how ridiculous I’d been. I emailed their generic address and go a reply from a guy (can’t remember his name; will check paperwork later to confirm) who asked me to call his direct dial. I know phoning is the number one thing to never do but he was actually really helpful and I got email confirmation afterwards and managed to settle the debt, which was about £600.

 

Things to remember: don’t offer to pay more than you can afford, make them sure you do wish to get this resolved asap and make sure they’ve agreed to your terms (ensuring they won’t raid your bank account come pay day!)

Edited July 3, 2012 by evelynwaughwasaman
typo!

[vegas2003]

Hi Brilliant, thanks a lot for the advice and info.Just a few questions, how much did Wonga say you owed them before acceptiing your £600 offer and were will I find that template.I was thinking of offering Wonga 250-- they say i owe 450Txt Loan 350 -- they say i owe 700QQ 500 -- they say i owe 950what do you think on these offers?

[vegas2003]

this is what i sent to the PDL companys, one has replied i need some advice..

 

 

Re Account number*********

 

With reference to the money which you are calming on the above account.

 

I have managed to secure a loan from a family member and would like to make an offer of £350 in full and final settlement of the above agreement

 

I can confirm that I am unable to offer to pay the money which I owe in full. But have raised £350 and I want to offer this without predjudice payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released for any liability.

 

I also request that, if accepted, you will make an entry on a credit reference agency file relating to the above account as "satisfied" in full.

 

Please let me know if this is acceptable, and confirm by email or post that this is acceptable as a full and final settlement, i will then transfer the money into your account by direct transfer, payment can be made within 1 week of receiving your written agreement of this offer.

[vegas2003]

This was their reply- will this be the end if i pay it???

 

Customer # *********

 

Thank you for contacting us to inquire about how to settle your balance. Please be advised, acceptance of the settlement offer constitutes the due date will not change and you will be ineligible to receive funds from Quick Quid or our affiliates in the future. The settlement we can offer is detailed below.

 

£500.00__________due 13/07/2012 via debit card

 

Our records indicate we do not have valid banking details on file which is needed in order to set your arrangement in place. Please contact us immediately to update your debit card or banking details. You can contact us via email, phone, and Live Chat. To update a Direct Debit please provide: Sort code and Account number. To update a Debit Card please provide the Card type, Card long number, 3-digit Security Code, Issue number, Card Expiry Date, and Card Start Date.

 

To confirm your agreement to this payment plan, please reply to this email stating that the terms are favorable. You must include the original email with the terms to which you are agreeing in your response. Once we have heard back from you, we will set up the agreed upon debits to come out of your bank account or be charged to your debit card.

 

Collection procedures will continue until an acceptable payment arrangement is made.

 

If you have any queries, our Collections Department is here to help.

 

QuickQuid Collections Department

Direct Line: 0808 234 4561

 

 

Call free from landlines. Mobile phone companies may charge up to 40p per minute.

 

Please note that QuickQuid only operates on the QQ omain and never requests customers to click on an email link to read a personal message or to reset their password.

 

Terms and Conditions apply. All loans are subject to status and affordability checks prior to approval. All applicants must be 18 or over.

 

QuickQuid is the trading name of CashEuroNetUK, LLC. CashEuroNetUK LLC is a Limited Liability Company incorporated in the United States. Head Office: 200 W. Jackson Blvd., 14th Floor, Chicago, IL USA. Correspondence Address: 483 Green Lanes, London, N13 4BS. Consumer Credit Licence #: 603395.

Antonia P

[vegas2003]

ANyone one here who can offer advice to all this I have sent them am email asking will that be classed as full settlement and their next response is below.Customer # ********In regards to your recent query, our records indicate your outstanding amount is £949.50. If you have any queries, our Collections Department is here to help.

[renegadeimp]

Dont give them your bank details. tell them you will only pay by standing order. this pdl is well known for taking much more than they are allowed and will take it whenever they feel like it.

[vegas2003]

If I get their bank acc details and pay them will that be the end of it or will they still chase me, as i have offered £500 and in one email they accept my payment plan and in another they say i owe £950How should i go about dealing with this to make sure the £500 is full and final settlement?

[vegas2003]

This has been my next step..Many people dont seem to be giving much info on here, maybe i am being inpatient and on edge as really trying to deal with this..thanks to you guys who who haveDear sir in response to your correspondence dated********I am only able to offer £500 as a full and final settlement on this account, as this is a one off payment it would make sense to transfer the payment directly into your account. The payment will be made from my family members account on my behalf.If this is acceptable please confirm, if it is not please send a statement of account showing all activity on the account since inception in order for me to verify the amount claimed.I repeat i am unable to offer any more than stated and if this is unacceptable your only option is to commence court proceedings, if this is your Choice i again request a statement under pre action protocol procedure

[vegas2003]

Anyone?

[vegas2003]

Txt loan have contacted me saying the debut is with Mckenzie and Hall - i called them an have offered them £350 - they have accepted the offer and told me that will be final settlement. Do you think that will be it now?

[renegadeimp]

You need that in writing before you pay anything. Plus you need written confirmation that the remainder of the debt will be wiped and it will not be sold to anyone and will jot be chased in the future.

 

You also seem to be falling into their trap by panicking , losing your cool and phoning them up.

[vegas2003]

I have paid them the £350 - have a made a big mistake?

[renegadeimp]

Never make a payment without prior written agreement. Especially if you gave them your bank details. There is a very good chance that they will debit your account for more as and when they like.

[vegas2003]

It was my mums account and i told them this surley they can not do that.

[renegadeimp]

They will if you give them a chance. It is very well documented all over these forums.

[vegas2003]

What am i best doing wait and see what they send me out?

[vegas2003]

What am i best doing wait and see what they send me out?

 

This is the email QQ sent me back, I need advice.. Are they accepting this as a final payment?

 

Customer # *********

 

Thank you for contacting us to inquire about how to settle your balance. Please be advised, acceptance of the settlement offer constitutes the due date will not change and you will be ineligible to receive funds from Quick Quid or our affiliates in the future. The settlement we can offer is detailed below.

 

£500.00__________due 13/07/2012 via debit card

 

Our records indicate we do not have valid banking details on file which is needed in order to set your arrangement in place. Please contact us immediately to update your debit card or banking details. You can contact us via email, phone, and Live Chat. To update a Direct Debit please provide: Sort code and Account number. To update a Debit Card please provide the Card type, Card long number, 3-digit Security Code, Issue number, Card Expiry Date, and Card Start Date.

 

To confirm your agreement to this payment plan, please reply to this email stating that the terms are favorable. You must include the original email with the terms to which you are agreeing in your response. Once we have heard back from you, we will set up the agreed upon debits to come out of your bank account or be charged to your debit card.

 

Collection procedures will continue until an acceptable payment arrangement is made.

 

If you have any queries, our Collections Department is here to help.

 

QuickQuid Collections Department

Direct Line: 0808 234 4561

Fax: 0808 101 1381

[email protected]

www.QuickQuid.co.uk

 

Call free from landlines. Mobile phone companies may charge up to 40p per minute.

 

Please note that QuickQuid only operates on the QuickQuid.co.uk domain and never requests customers to click on an email link to read a personal message or to reset their password.

 

Terms and Conditions apply. All loans are subject to status and affordability checks prior to approval. All applicants must be 18 or over.

 

QuickQuid is the trading name of CashEuroNetUK, LLC. CashEuroNetUK LLC is a Limited Liability Company incorporated in the United States. Head Office: 200 W. Jackson Blvd., 14th Floor, Chicago, IL USA. Correspondence Address: 483 Green Lanes, London, N13 4BS. Consumer Credit Licence #: 603395.

Antonia P

 

 

 

I have spoke to qq and they have told me that this email they sent should be taken as full and final payment if I pay them 500 pound. They will only accept A card payment should I pay them?

[Bombaymix]

They're full of..... Poo. DO NOT Under any circumstances pay with a debit card!!!

 

That all sounds a bit generic to me!

 

You need confirmation from them before parting with a penny!

 

Of course they can accept payment via other methods!

[Bombaymix]

Just read up. Apparently they accept paypal payments? Buy still, don't pay until you have 100% confirmation that the £500 is f&f settlement and that they won't sell on the remainder

[vegas2003]

Cheers.How will i get confirmation, as they are telling me that the email they set confirms F&F. I have also been told i can pay by cheque?

[vegas2003]

This is one of the emails they sent about paying by card- ill will post the other one also to Customer # 1604792The acceptable payment methods used by Quick Quid are: Bank Account, Debit Card, Bankers Cheque or Cashiers Cheque. Unfortunately, we do not accept PayPal, standing orders, giro slips, or provide an account number that you can make cash payments into. We apologize for any inconvenience this may cause. You may also have a friend or family member call in the payment on your behalf. Both yourself and the card holder must be present at the time of your call. If you have any queries, our Collections Department is here to help.QuickQuid Collections Department

[renegadeimp]

Remind them of their obligations under OFT guidance on debt collection.

 

They CANNOT refuse a valid method of payment towards the debt. Especially when they have a long history of fraudulent use of debtors details. Doing so means they they have specifically refused to accept your legitimate form of payment towards the debt.

 

I think the idiots behind QQ need to realise they are operating in the UK, and not the U.S where the laws are very different.

 

Personally i would escalate this to a formal dispute/complaint now. Write to them and ask for a copy of their complaints procedure. Exhaust this and then take it to the FOS.

[vegas2003]

When reminding them of their obligations any idea how i should word the email?

[vegas2003]

Also Wonga have now responded after my offer by email wanting me to call them, should I?