MiniCredit advice

[Welshy27]

It may be worth haggling and quoting financial guidelines which people like Rene can help you with. You need to get it in writing from them that if you agree to their settlement that your file/account will be closed from that point and it won't be passed on or no further attempts to take payment will be made.

[FrugalJo]

I took out my Mini credit in November last year, in true payday loan numpty style rolled over for 4 months. It took me 2 months to get them to agree any sort of Full and final or repayment plan. When they did offer a full and final it was £685 on a £300 loan, with all those contractual interest harges and debit fee attempts. When I rejected and questioned that it was passed over to Mackenzie Hall who agreed £274 and closed account.

 

Not seen a default on my account either.

 

Like Rene says stick to your guns.

[stitchly]

Lodge an official complaint with Minicredit.Wait for the final response(i actually asked them for this!) then get it off to the fos. Include all correspondence that you and they have sent.

Worked for me! I now have minicredit wanting to come to an arrangement with me!!!

[debtfreeformeplease]

Okay great - thanks for all the advice. I am going to wait them out, make the complaint and see what happens.

 

My main concern, regardless of what settlement figure we end up at, is how to pay them (safely) without using a debit card. They have given me the option of using uKash which would involve an additional 8% charge payable by me, so that is not particularly attractive. They say they do not accept cheques or bank payments - does the DCA that they pass it to have a facility to make payment using alternate methods?

[Welshy27]

Okay great - thanks for all the advice. I am going to wait them out, make the complaint and see what happens.

 

My main concern, regardless of what settlement figure we end up at, is how to pay them (safely) without using a debit card. They have given me the option of using uKash which would involve an additional 8% charge payable by me, so that is not particularly attractive. They say they do not accept cheques or bank payments - does the DCA that they pass it to have a facility to make payment using alternate methods?

 

If it gets passed on to OPOS then yes you can pay straight into their bank account without them needing any debit card details. OPOS will set up an account with your debt owed, you make the payment and it normally takes 48 hours for the amount to be processed and viewable on your account with them.

[debtfreeformeplease]

Okay thats probably the best course of action then. And hopefully it will get passed to them before any default is put on my file too.

[Welshy27]

Plus with OPOS they are more likely to accept just repayment of the original loan and one month interest - if you dispute the extra charges added then they should immediately accept the former offer (especially since you will be making a one off payment).

[Super Daz]

Minicredit did indeed place a default on my file which I am really not happy about.

[debtfreeformeplease]

Update - still haven't heard anything further from them. Should I just continue to wait till they send it to OPOS? I have enough left to settle it now if I can get them to accept loan + 1 month int.

 

Just dont know how to get them to agree to that. Seems impossible at this point.

[Welshy27]

Update - still haven't heard anything further from them. Should I just continue to wait till they send it to OPOS? I have enough left to settle it now if I can get them to accept loan + 1 month int.

 

Just dont know how to get them to agree to that. Seems impossible at this point.

 

They normally pass it on after you request this. A 'Hardship Application' will firstly be activated on your account which you fill in with basic I&E details and then you have to either fax or post it to them. They pass accounts on to OPOS twice a month after they have approved your Hardship Application.

[debtfreeformeplease]

Okay I haven't done the hardship application yet as they haven't sent me one. They really take forever to even respond and then its mostly just a form letter of some kind. I will persevere.

[Welshy27]

Email them and ask them to activate the Hardship Application on your account because you want the debt to be passed on to OPOS.

[Sillyboywyn]

I have just had mine passed to Opos after filling in the details on the hardship form, they said they have added 120 days interest on (only defaulted 25 days ago) and alsorts of other charges and the account wont be with Opos until October now. I am going to contact Opos, contest the charges and complain to the OFT but i have no idea how to do this.

[Welshy27]

They passed my account on with 120 days worth of interest too. OPOS have been happy for me to set up a repayment based on the original loan and one months interest - they should wipe that unfair 120 day charge. Your account will be passed on at end of Sep and OPOS will contact you probably in the first week of Oct.

[renegadeimp]

They cannot add 120 days interest on. This is easily contestable.

[sarahjmat]

Don't pay them their offer of £893. Tell them you want the debt to be passed on to OPOS (their in house DCA). OPOS should wipe all those extra charges and agree for you to repay back the original loan amount and the one month interest. They will let you repay it back at a reasonable monthly rate (I'm paying them a minimum £20 per month).

 

Hi there,

 

How did you get them to agree to this. if what was your original debt and how much are you paying off?

[Welshy27]

You need to ask Minicredit to activate a 'Hardship Application' on your account with them. It is just a basica income/expenditure form - no in depth details required. Fill it in and then fax or post it back to them (they don't accept it sent back by email). It takes them five days to review your application and they then should approve it for it to be passed on to Opos. They pass accounts over to them at the end of each month and you will hear immediately from Opos.

 

My debt got passed over at nearly £1200 but Opos have agreed for me to pay back the original loan and one months interest which is £590. I'm currently on a £20 per month plan, am three months into it and have always been able to pay more than £20. I'm reviewing my payments in two months time with them when I will be in a position to pay more so to clear the amount more quickly - hopefully by Feb. I've had no problems with Opos - everything by email and no further contact/harrasment made by Minicredit which was one of the reasons why I wanted the debt to be passed over so to have no further dealings with them.

[sarahjmat]

thank you i have sent my form in just waiting for the response now

[sarahjmat]

Hi there, I have now received a phone call saying i owe £500!! however original loan was £150 £185.50 with interest, they have already taken £50 out of my account, (cancelled the card asap) They say i will be sent to the Debt collector, will they be able to reduce the debt owed to the original loan plus one months payment? as i believe £500 it extortionate i managed to negotiate to £450 taking into account the £50 i have already paid but i still believe this is way too much.

[renegadeimp]

Let them send you to whoever you want. You're only going to be paying the original amount and not their unlawful charges.

 

 

Never agree to something you dont owe. They scare you into thinking they do, especially on the phone, just so they can get more money.

[sarahjmat]

Thanks so once they send me to Debt collection i need discuss it with them? I really dont want to be paying £500 policy has only been outstanding for one week. so from £185.50 to £500 is ridiculous. Thanks again for your help with these cowboys

[renegadeimp]

You wont be paying ANY of their stupid charges. These idiots are well known for inflating debts with unlawful fee's.

[Welshy27]

Yes give them permission to send it on (most likely to OPOS) who will be much more reasonable in allowing you to repay the original amount due.

[sarahjmat]

Thats great thank you and will the debt agency take into account that mini credit have already taken £50 from my account?

[renegadeimp]

They cant deny it, although they will try it. Just remember, OPOS is minicredit. Theyre just using a different name.