Not agreed rollover,any ideas?

[titsik]

Hi,help needed with PDL company CashChoice with trading name uklenders alliance. Took out the PDL at the end of may with them for £400 and contract was for 28 days with one onoff payment for £520 on 22nd of june. £400 for loan and £120 for interest. Checked my bank account few days later and found out,that money was taken £160 altough all the funds was avalible !!! My alarm bells was starting to ring and i knew that something was wrong,because £160,it`s not the interest,it`s just a odd amount of money??...gived a call to the bank and reporterd my debit card stolen.Went on holiday on 20th july and back in beginning of august i found the e-mail where they are saying that my account is in arrears for £680 on todays date.And they are giving totally different reference number!!! Basically,it looks like they made a deferral without me and my approve to drag out more money!!!I`ve got my contract what states clearly,one onoff payment on 22 of june £400 loan+£120 interest. Any ideas,how to deal with this matter?? Thanks for the replys,

[renegadeimp]

Before you do anything else you need to secure your money by opening a parachute account. Then you need tonwrite, not phone, the lender and demand to know whats going on.

[titsik]

Should i send CCA request letter?

[renegadeimp]

Forget about a CCA for now. It has nowhere near the power it used to.

 

As i said, you need to first secure your money, then find out from the PDL what is going on. Until you do that, you will be basing your actions on guesswork and not fact.

 

as for what you owe, deduct the 160 they already took, from the initial amount you stated and thats what you have left to pay.

[titsik]

Hi, i sended them a letter by recorded mail where i asked for a explanation. After one week i got a e-mail from them: Dear (Edit)

In response to your letter I can confirm you have an outstanding balance with UK lenders alliance in the sum of £684 from when you took out a payday loan and failed to maintain repayments.

 

 

 

Please call on 0800 533 5400 urgently so that we can discuss a payment option with you

 

 

Regards UK Lenders Alliance In that e-mail they are showing a reference nr.197623 what is untrue...i had one month loan with oneoff payment on 22of june,all the money was in the bank by that date but they took just part of the money!!! How to deal further with that problem? Thanks for your reply!

Edited September 14, 2012 by maroondevo52
Name removed

[Nao]

Do NOT phone them, only communicate in writing, demand their Bank details so you can pay them the rest of what you owe manually, 520£ - 160£, so 360£, then tell them to shove it.

[Jamie Kingston]

delete your name from posts. I would email and ask for their bank details as you would like to pay off your loan. Obviously cancel your card to stop them from trying to debit further payments.

[titsik]

Hi,got some news from them.I was offering them to pay outstanding balance £360 over the three months,this was the answer what i got Your balance is £684.00.

 

 

We have been attempting to contact you since your account fell into arrears on the 20/07/2012 but you have not responded to any calls/texts/emails.

 

We can spread this balance over 3 months which would work out to be a payment of £228 per month.

 

Regards UK Lenders Alliance what is totally untrue,been sending many e-mails to them but they been refusing to take £360 as reduced?? payment in installments. Any ideas? Cheers,

[maroondevo52]

delete your name from posts.

 

Done

[titsik]

Basically they are demanding for £684.00 instead of £360.00 ,what i really owe them!

[renegadeimp]

Ok. First thing to do is string them along, then use things against them.

 

Write to them, but do not accept any liability. Demand a full breakdown of the account from them. Post it up here and we can advise further.

[titsik]

Hi,

 

Here`s the breakdown what they sended to me

 

xxxx xxxxxx

 

 

Here is a breakdown of your account:

 

LoanNo Date Funded Date Due Date Repaid Type Loan Amount APR Duration (Days) Credit Principle Credit Deferral Credit Interest Credit Charges Debit Repaid Debit Deferral Balance

197623 22/06/12 20/07/12 Rollover 360.00 3370.0 28 0.00 360.00 432.00 0.00 0.00 0.00 792.00

193807 25/05/12 22/06/12 22/06/12 New 400.00 2957.0 28 400.00 0.00 120.00 15.00 175.00 360.00 0.00

 

Regards

 

UKLenders Alliance

 

no ideas,from where they took the rollover?? Tanks for the replys!

[Nao]

You agreed to one loan to be repaid in june, but you never agreed to take out a second loan in june, as they are treating the rollover as a new loan have them provide the credit agreement for the loan they issued in june.

[renegadeimp]

They cant say that a rollover fee is a new loan. That is against guidance regulation and can also be seen as unlawful. The rollover fee was in essence a deferral fee where you pay the interest off for that month.

 

As Nao said, get them to show the agreement that you explicitally signed that outlines the terms of the rollover and how they consider it a new loan. If they try to say it is still a new loan, then you want to be supplied with the full credit agreement. That agreement will be impossible to find as you never requested a new loan. And even if it was, getting you to take out a new loan to finance another one, is a very serious offence in the OFT's eyes. So they'd be caught out anyway.

[titsik]

Thank you for your replys!

Sended them a e-mail with request of agreement exactly how you adviced and that was the answer:

 

Dear Mr. xxxxxx

 

Please find enclosed your loan agreement.

 

Section 8.6 details the Extended Payment Option.

 

Regards UK Lenders Alliance

 

and they attached the agreement what i signed on 25/05/12 when i took out the loan at first place. section 8.6 says:

8.6 If you cannot afford to repay your loan on the Payment Date you may apply to extend it

and we will consider whether we can agree to this, but we only do so on a limited number of

occasions where we are satisfied it is responsible to do so. Please note we actively

discourage extensions which prolong your period of indebtedness and end up costing you

more than the amount on your loan agreement. We will always require you to pay off

interest and a minimum 10% of capital. You are encouraged to repay your debt as quickly as

possible to minimise your credit costs. You can request an extension by calling 0800 533

5400 or emailing us at xxxxxxxxxxxxxxx].

 

yes,but i never asked for extension,money was in the bank and waiting them!!! feels like running against the wall....found from the Google similar cases with the same company,seems like common business for them to squeeze more money out from the costumers!

[Nao]

That was your first step towards victory.

 

They write that you could apply for a rollover, but they don't mention anything about them being able to make that application on your behalf without your consent.

And even if you would have applied for a rollover they would have had to decline as you did not pay off 10% of the capital, on top of that they write they discourage rollovers....

In other words, their own agreement doesn't add up one bit with their own actions.

 

So now you got a very firm ground for a complaint, send a complaint to the PDL, OFT, Trading Standards, if you wish complain to Stella Creasy and Watchdog as well.

 

 

The only way they could come back would be to proof that you applied for an extension but you never did (which would still leave the formality problem that they called it a new loan), so they have two options, option 1: admit they messed up, option 2: run for cover and leave you alone.

[titsik]

Hi,

 

got the new e-mail from them,when i asked the agreement for a loan what they issued in june.In some reason they are quoting two reference numbers.

 

RE: Email Response, Ref: 193807/197623

 

Dear Mr. XXXXXXX

 

Your loan agreement sent to you covers your outstanding account which has been deferred.

 

Your current balance is £792.00.

 

Each time we pass your paydate, interest is being added each month.

 

Regards UK Lenders Alliance

 

 

but still no word or proof about rollover???

[renegadeimp]

Oh dear oh dear. Theyre charging contractual interest after the contract has ended. FOS has said that they cant do this, which is probably why theyll never take it to court unless theyre confident of a judgement by default.

 

As youve also seen, theyre trying to ignore what youve actually asked for, hoping youl either cave in, or forget about it.

[titsik]

Thank you for a quick reply! Should i carry on to sending them e-mails and asking proofs for the rollover?

[renegadeimp]

If you want proof, then dont let up. Theyre sending you everything else but proof.

 

 

In your next email, make sure you state specifically what you want. Dont go into a long story, just tell them that you didnt agree to it, you have asked for proof, and they are in default of your request. If they dont provide proof within x number of days ( your choice), then the account will be in dispute and formal complaints will be made.

 

This will "freeze" the account temporarily and stop collection activities until the complain is resolved. One thing you must do, is get the full and formal complaints issued. Make sure you head them as such.

[markosoft82]

Couldn't titsik provide a letter from their bank stating that the funds were there on the required date, and then ask why they weren't taken by the PDL?

[Nao]

that would be a possibility yes, however it shouldn't be necessary, i'd see it more as a last resort, if the pdl would just answer the questions the mess could already be solved.

[titsik]

Thanks for yourhelp and advice guys!

Got some news again,after couple of days my e-mail where i asked about the proof for rollover,they replyed:

 

Mr. XXXXXXX,

 

As stated in the previous message, the loan agreement sent to you covers your outstanding account. During the application process you stated that it will be better to have the roll over option.

 

Your loan current balance is £792.00, we are willing to settle your account for £400.00 wich is the original loan amount.

 

Please contact us as soon as possible in order to set up you payment.

 

Customer Service

 

what a b......t,application process was made online,there`s not even a option for that,later i found from the contract,that you can apply for rollover by the phone or e-mail.So,again a big fat lie...and the original amount is £360,because they had £160 allready and thats all what i owe them and i`ve been offering this money to them by three payment allready,but they refused.Really,i don`t even know,what to say them,after that kind of e-mail...

[Nao]

They are still dodging the core of the question.

 

the excuse with you supposedly having preferred the option to be available is not a valid reason to create a rollover without your consent, its like if you would have told them you like tigers and they would have subsequently charged your card for zoo tickets.

 

Besides, they still didn't explain why they agreed to the imaginary application for a rollover, their contract terms state you can only rollover if you paid off at least 10% of the capital.

[markosoft82]

I personally want to see their application form now (I tried submitting one with dummy information but the server spat out a page of errors). I highly doubt that if that option is there, that it's 1)in small writing 2)probably involves a tick box 3)wouldn't stand up all that well in the eyes of the FOS/FSA.