speed credit

[renegadeimp]

Write to all of them and ask them who owns the debt. If its anyone but the OC, demand a Notice of Assignment. If multiple companies state they own the debt, then throw the debt into serious dispute, and contact the OFT and FOS.

[tinkerbell_2k12]

Thanks ren im very grateful for your guidance and help

[tinkerbell_2k12]

well marshall hoares messaged back again saying they legally own it, so i asked for a notice of assignment and i got the following message

 

Thank you for your message.

We believe you are in contact with Joseph xxxxxxx ( the guy from web proccessing ltd) regarding your file.

Please forward any query and questions to his email address and he will be happy to help you.

Yours Faithfully

samanthaconner

Door Collections

Marshall Hoares Bailiffs

Telephone: 0843 381 1111

 

so to me that shows they couldnt prove they own it, was just a hot air threat from them again

Edited December 1, 2016 by alanfromderby

[renegadeimp]

Thats weird, since if MH own the debt, why are they referring you to toothfairy employee?

 

Yet more evidence of them being the same company?

 

Youa re correct as well, they cant prove they own it and again, are referring you back to toothfairy, who supposedly dont own the debt anymore. Time to make sure this is reported to the OFT. Also throw the account into serious dispute and exhaust Toothfairies/MH's complaints procedure, so you can get the FOS involved.

[Placidbob]

Do you not need to wait 8 weeks of having a dispute before they send a letter of deadlock before you can take it to the fos?,

[renegadeimp]

You need to ask for a final response. The FOS wont get involved until you have that or until 8 weeks without the response has elapsed. Whichever is soonest.

[stargatemunky]

It loks like i'm in the exact same position as OP here

 

The baliffs are being used as threats to make me pay an extortionate level of interest fees (not just the APR but non existent court fees before it's even gone to cout)

 

I KNEW something was up when they threatened me the DAY after a missed deadline... as wonga have always helped me out

[renegadeimp]

Thats all they are though, threats. bailiffs cannot come until youve been to court, given your defence, the judge rejects it, issues a payment order, you default on that, it goes back to court, the judge doesnt believe your reason why payments were defaulted, and THEN the OPTION of a bailiff is there, although normally an attachment of earnings at a court decided repayment rate is agreed on before anything to do with bailiffs come into play. Especially if you are on a low wage.

[stargatemunky]

it's good to know... also how have people dealt with actual repayments.. until someone ACTUALLY communicates like a rational human being to arrange a repayment system their system only allows one ALL out payment or interest fee.

[renegadeimp]

Speedcredit are almost impossible to deal with directly. I would go into detail, but plenty of people here and the admins, know what i think about the management of this company.

 

They prefer to ignore all correspondence and say you never contacted them, and think that it is reason enough to hike up the debt ot extortionate and borderline criminal amounts. Then they pass it to their inhouse DCA who then add more charges, then finally to yet another inhouse DCA who add even more.

 

Then they start offering discounts to make out like theyre the good guys, and the debtor is the one who caused all the issues.

[Nao]

it's good to know... also how have people dealt with actual repayments.. until someone ACTUALLY communicates like a rational human being to arrange a repayment system their system only allows one ALL out payment or interest fee.

 

What I did after negotiating a payment plan failed due to them not communicating was that I simply paid off the original loan amount + 1 month interest at like £10 a week or so, then after that I simply sent a email to them saying that I consider my account settled and closed and if they disagree I'm happy to meet them in Court.

 

They completely ignored all of it and to this day still continue adding charges and passing the debt around, but all I do is laugh when I receive threats from them now as I know exactly what happens when a PDL company actually does take you to Court as I've been down that route with Cash Genie.

[stargatemunky]

#It begs the question though. If you were a braver man than any of us. surely the [problematic] are SO out of line with the law it would take someone not much effort or legal knowledge to simply rip them off by taking out loans with NO intention of paying back for an LONG time in order to gain a large level of interest and thus avoid any interest fines through the legal system

[renegadeimp]

It doesnt work like that in reality though as consumer laws are in place to stop things like that happening. Thats why the PDL's are trying every trick to find a loophole they can exploit to get more money.

[tinkerbell_2k12]

Hi Tinkerbell, found this letter on another toothfairy thread, I would send them this as an icebreaker, making your resolution clear then take it to the Fos after the 8 weeks if they don't fold (you will need to request a confimation of deadlock letter from MHB), fingers crossed they will fold though

 

£xx is the loan plus the interest for either 14 days or 28 days

 

To whom it may concern

 

On *insert date you applied for loan* I applied for a loan of £*amount initially borrowed* on your website http://www.speedcredit.com which was accepted by you and due to be repaid on *insert date loan was due* and the amount due was *insert either £xx or £xx depending on if it was a 14 or 28 day loan*.

 

Due to various reasons I was unable to meet this commitment.

Despite multiple attempts to negotiate a payment plan with your company having failed I am still willing to repay the debt of *insert £xx or £xx minus amount of any payment made already*.

 

In order to repay my debt and proof that I am in no way trying to hide or run from this debt I am willing to repay the debt of *insert £xx or £xx minus amount of any payment made already* by the following means:

 

I will pay *insert amount* *insert how often, weekly, fortnightly, monthly* by *insert how you will pay, for example standing order* to your Barclays Bank Account Sort Code: 20-50-94 Account Number: 93462382 using the following reference number: *insert mobile phone number you provided in the application* starting on *insert date of first payment* until *insert date of last payment*.

 

I do not acknowledge any debt above the amount of *insert £xx or £xx minus amount of any payment made already* and if you wish to pursue such debts above the amount of *insert £xx or £xx minus amount of any payment made already* be aware that I am prepared to report each such attempt of yours to the relevant regulatory outfits plus if deemed necessary I am fully prepared to take all legal action necessary to defend myself.

 

“Below part only applies if you already made any payments”

 

In addition to above I kindly request a formal acknowledgement that I have already made the following payments towards clearing the debt:

 

1: Payment of “Insert amount by means of “how you paid, ex standing order” on date “insert date”.

2: Payment of “Insert amount by means of “how you paid, ex standing order” on date “insert date”.

And so on

 

Regards,

 

*insert your name*

 

 

i followed yours and rens advice and started with a ice breaker email changed it to my circumstances and i got the following reply

 

The quickest method in relation to providing me with the requested evidence is to send it to me via email. Alternatively, you may send it to Marshall Hoares Bailiffs Limited, PO Box 154 Sheffield, S98 1HU or fax it to 020 3476 0520 although this will take some time to be received and passed to me for assessment.

Your offer of payment below is appreciated but not accepted. The loan you took out accrued interest of £48 every 14 day period that passes without payment being made in full. I believe you need to be realistic about the terms of the contract you signed. I am prepared to accept the following amounts in full and final settlement:

1) One off payment of £400.00 by the end of September.

2) A payment plan set up for a total amount of £600 in instalments of £40.00pcm. The first payment to be received by 30th September and then every month on the last day.

I look forward to hearing from you.

Yours sincerely,

Joseph xxxxxxx

 

 

apparently i need to be realistic

Edited December 1, 2016 by alanfromderby

[renegadeimp]

Wait. What exactly do they want to assess?

 

You also need to remind them of their obligations under OFT guidance on debt collection, as it seems they are ignoring it. Also, the loan was contracted for 30 days. They cannot keep charging you every 2 weeks thereafter. We even have that from the FOS. They state that for a 30 day payday loan, you owe the contracted loan plus interest, plus initial default charge, minus any payments you have made. Anything else is classed as unfair as it could escalate the debt to an unrepayable amount.

[tinkerbell_2k12]

Wait. What exactly do they want to assess?

 

You also need to remind them of their obligations under OFT guidance on debt collection, as it seems they are ignoring it. Also, the loan was contracted for 30 days. They cannot keep charging you every 2 weeks thereafter. We even have that from the FOS. They state that for a 30 day payday loan, you owe the contracted loan plus interest, plus initial default charge, minus any payments you have made. Anything else is classed as unfair as it could escalate the debt to an unrepayable amount.

 

 

He wants proof off my income and out goings and proof of unemployment . But by the looks of it regards off him recieving my i@e form. Hes still not going to settle for what i actually owe which is only £295

[renegadeimp]

Ok. So you can supply him with a simple budget summary, but he doesnt need proof of unemployment. Simply sign the income and outgoings form as a declaration of fact, and theres nothing he can do.

 

The Budget summary is there to back up what you are offering. Nothing more and especially not there for him to decide on a repayment plan of his choosing.

 

Send him a budget summary ( you can find one on this site or use national debtlines), and sign it as fact. This means that you swear that it is the complete truth should it go before a legal entity. If he tries to be stubborn, ill write a short letter that will kick him into gear.

[tinkerbell_2k12]

Ok. So you can supply him with a simple budget summary, but he doesnt need proof of unemployment. Simply sign the income and outgoings form as a declaration of fact, and theres nothing he can do.

 

The Budget summary is there to back up what you are offering. Nothing more and especially not there for him to decide on a repayment plan of his choosing.

 

Send him a budget summary ( you can find one on this site or use national debtlines), and sign it as fact. This means that you swear that it is the complete truth should it go before a legal entity. If he tries to be stubborn, ill write a short letter that will kick him into gear.

 

Thanks rene ive got a budget sheet cccs did for me that i orginally sent to speed credit ill send him a copy and sign it as youve said

[stargatemunky]

i.e.

 

you can't afford to pay back £400 so if you DON't we'll make it £600

 

Don't the mafia do this with protection racket? Loan sharks galore here

[renegadeimp]

Thanks rene ive got a budget sheet cccs did for me that i orginally sent to speed credit ill send him a copy and sign it as youve said

 

 

Send it with a covering letter that simply says:

As requested, please find enclosed a copy of my current I&E which is an accurate record of my circumstances as of xx/xx/xxxx. This sheet has been signed as a declaration of fact, and my repayment offer stands at £xx per week/month.

 

I expect your reply and acceptance of my plan within 7 days of receipt.

 

 

Dont go into detail. just keep it short and sweet. We'll go into legalities and regulation if he still refuses it.

[stargatemunky]

That ******* has all the time in the world to rip people off

 

Damn him to hell

[tinkerbell_2k12]

Send it with a covering letter that simply says:

As requested, please find enclosed a copy of my current I&E which is an accurate record of my circumstances as of xx/xx/xxxx. This sheet has been signed as a declaration of fact, and my repayment offer stands at £xx per week/month.

 

I expect your reply and acceptance of my plan within 7 days of receipt.

 

 

Dont go into detail. just keep it short and sweet. We'll go into legalities and regulation if he still refuses it.

Thanks ill let u know how i get on

[tinkerbell_2k12]

i.e.

 

you can't afford to pay back £400 so if you DON't we'll make it £600

 

Don't the mafia do this with protection racket? Loan sharks galore here

 

Thats how they work isnt it, luckly people here have great advice and knowledge

[stargatemunky]

well they are FINALLY contacting me via phone to at least TRY and communciate.. sounds more like intimidation

 

I'm not trying to wind THEM up but seriously they call demanding payment with no repayment plan.

 

They are NOT what I call freindly in anyway

 

Bravery to just tell them to go swing?

[renegadeimp]

I'd be funny to them. Simply answer, NEVER confirm any security questions, and overtalk them saying " Everything is to be in writing if you wish to communicate with me".

 

Then if they keep ringing, send the telephone harassment letter and report them to the OFT