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We know taking the loan out was wrong but we had no option at the time, we took a loan of £250.00 and now unable to repay in lump sum, they text every day emails and its getting worse they demeand £359.00 now and sent this email

 

 

We have made a number of attempts to contact you by email and SMS to discuss the outstanding balance on the short-term loan you took out on 14.08.12 and you have made no effort to return these enquiries.

 

We have also warned you in advance of additional charges you have incurred.

 

As we make clear to all our customers our product is intended to be a short term financial solution. If the loan is extended this product can become expensive.

 

As we have not heard from you and not received payment we have been left with no alternative and are writing to advise you that this debt will be passed on to our Debt Collections Agency in the next 24 hours.

 

As per the terms of the contract between Speed Credit and your self (see http://www.speedcredit.co.uk/terms.html) instructing the Debt Collections Team will add a further GBP 150 to the balance you owe. Debt recovery agents will call at the addresses we have on file for you until they are able to successfully collect the sums you owe. If our debt recovery agents, after a reasonable attempt at the addresses on file, cannot successfully recover the monies owed by you, we will issue a claim against you in the County Court for the outstanding balance plus the further charges and recovery costs that have been incurred.

 

You should be aware that a County Court Judgement against your name will remain for 6 years on the National Credit Records (NCR) accessed by employers, insurers and banks and may result in:-

 

a) difficulties in obtaining future credit

b) difficulties in obtaining a mortgage

c) being questioned at a County Court as to your financial circumstances

d) any current employers being informed so an application against your earnings can be issued

e) difficulty in securing future employment due to an adverse credit history and credit score

f) a Warrant of Execution and bailiffs being instructed

 

We will apply for a County Court Judgement followed by a Warrant of Execution and a Bailiff order to seize goods from your addresses to be issued simultaneously to the County Court Judgement. This Warrant authorises Certificated Bailiffs to seize goods at the addresses held on file for you (including what may be your family home). These goods will be taken and put up for sale at public auction until the total amount you owe is satisfied.

 

The initial cost of issuing a County Court Judgement is GBP 45, this will be charged to your account on the date of issue.

The further court costs including solicitors time, application for a Warrant of Execution and the appointment of Bailiffs will also be added to what you owe.

 

As you can see thi s will ultimately cost you a great deal more if you do not deal with this matter now.

 

It will also cause you a great deal of difficulty for many years to come.

 

We strongly recommend that you settle this amount immediately to limit further costs, preserve your credit rating and your ability to gain full time employment.

 

Please immediately pay 359 by either:

 

1) Paying online by visiting http://www.speedcredit.co.uk and clicking Pay Now;

or

2) Make a bank transfer for GBP 359 to:

Barclays Bank

Account number 93462382

Sort code 20-50-94

Ref: Use your mobile number ************ as a reference so we can match it correctly

 

ALSO please EMAIL us confirming that this has been done to stop the debt being passed to the Debt Collection Team and further charges being incurred.

 

If you ignore this and our debt recovery agency is instructed it will be a short matter of time before the C CJ is issued and Bailiffs are instructed to seize goods.

 

We look forward to hearing from you confirming a speedy resolution of this matter.

 

If you have already repaid and this is not reflected in the above statement please contact us so we can investigate this further and correct your file.

 

Regards

 

 

 

Speed Credit - LEGAL RECOVERY

t: 084 3381 3381

 

Can you anyone help as they just refuse to reply to emails and letter.

 

cheers

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Its the normal form letter that they send out to everyone thats full of misinformation and lies. Ignore it and file it in a complaint with the OFT.

 

The amount they say you owe will jump around all over the place then theyll pass it on to another company who is actually the same company, but just a different name.

 

Have a read of some of the threads on this forum, it will make you breathe easier.

 

If it helps, speedcredit already lost their Credit licence, so theres not really much they can do apart from try to threaten you. Also understand that the owner of the company is a blithering idiot, who has already been in trouble a good amount of times.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Just pay them what you really owe, not the made up on the spot sums they demand and at a rate you can afford, even if that is just one pound a week. Toothfairy are really horrible to deal with, they frequently brake the law and guidelines, they don't accept payment plans other than the ones they made up themself and so on.

 

The email you quoted violates various guidelines, get that to the OFT in a complaint about the debt collection practices of Toothfairy.

 

While they won't take you to court even if you would beg them to do so it is still a good idea to pay back what you owe, but as i said, don't let their scare tactics get to you and just repay what you originally agreed to, even if they ever took you to court, the court will then be on your side.

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Well now had another email as stated below as well as texts :

 

Ref ID: ***********

21/09/2012

 

 

Mr

 

Ref Loan: ********** - 14.08.12 - Sum outstanding GBP 359

 

We have made a number of attempts to contact you by email and SMS to discuss the outstanding balance on the short-term loan you took out on 14.08.12 and you have made no effort to resolve these enquiries satisfactorily.

 

We have also warned you in advance of additional charges you have incurred.

 

As we make clear to all our customers our product is intended to be a short term financial solution. If the loan is extended this product can become expensive.

 

As we have not heard from you and not received payment we have been left with no alternative and are writing to advise you that this debt will be passed on to our Debt Collections Agency in the next 24 hours.

 

As per the terms of the contract between Spee d Credit and yourself (see http://www.speedcredit.co.uk/terms.html) instructing the Debt Collections Team will add a further GBP 150 to the balance you owe. Debt recovery agents will call at the addresses we have on file for you until they are able to successfully collect the sums you owe. If our debt recovery agents, after a reasonable attempt at the addresses on file, cannot successfully recover the monies owed by you, we will issue a claim against you in the County Court for the outstanding balance plus the further charges and recovery costs that have been incurred.

 

You should be aware that a County Court Judgement against your name will remain for 6 years on the National Credit Records (NCR) accessed by employers, insurers and banks and may result in:-

 

a) difficulties in obtaining future credit

b) any current employers being informed so an application against your earnings can be issued

c) difficulty in securing future employment due to an adverse credit history and credit score

d) difficulties in obtaining a mortgage

e) being questioned at a County Court as to your financial circumstances

f) a Warrant of Execution and bailiffs being instructed

 

We will apply for a County Court Judgement followed by a Warrant of Execution and a Bailiff order to seize goods from your addresses to be issued simultaneously to the County Court Judgement. This Warrant authorises Certificated Bailiffs to seize goods at the addresses held on file for you (including what may be your family home). These goods will be taken and put up for sale at public auction until the total amount you owe is satisfied.

 

The initial cost of issuing a County Court Judgement is GBP 45, this will be charged to your account on the date of issue.

The further court costs including solicitors time, application for a Warrant of Execution and the appointment of Bailiffs will also be added to what you owe.

 

A s you can see this will ultimately cost you a great deal more if you do not deal with this matter now.

 

It will also cause you a great deal of difficulty for many years to come.

 

We strongly recommend that you settle this amount immediately to limit further costs, preserve your credit rating and your ability to gain full time employment.

 

Please immediately pay 359 by either:

 

1) Paying online by visiting http://www.speedcredit.co.uk and clicking Pay Now;

or

2) Make a bank transfer for GBP 359 to:

Barclays Bank

Account number 93462382

Sort code 20-50-94

Ref: Use your mobile number as a reference so we can match it correctly

 

ALSO please EMAIL us confirming that this has been done to stop the debt being passed to the Debt Collection Team and further charges being incurred.

 

If you ignore this and our debt recovery agency is instructed it will be a short matter of time before the CCJ is issued and Bailiffs are instructed to seize goods.

 

We look forward to hearing from you confirming a speedy resolution of this matter.

 

If you have already repaid and this is not reflected in the above statement please contact us so we can investigate this further and correct your file.

 

Regards

 

Please note that i have sent emails asking to pay over a few months and had no replys from Speed Credit NDR Tooth etc etc , they just refuse to confirm my requests, i did take out a loan and will repay plus months int . what should do now make payments ??? or just wait to get a reply

 

cheers

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Thats a standard threat letter that almost everyone gets. Send it to the OFT and make formal complaints.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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creditors should:

 

• not use misleading or oppressive behaviour when

advertising, selling, or seeking to enforce a credit

agreement

 

• monitor the borrower's repayment record during the

course of the agreement, offering assistance where

borrowers appear to be experiencing difficulty and

 

• treat borrowers fairly and with forbearance if they

experience difficulties.

 

Quote taken from here: http://www.oft.gov.uk/shared_oft/business_leaflets/general/oft1107.pdf

 

That quote is from the OFT, all 3 points I quoted have been violated by Speed Credit.

I would recommend a complaint to the OFT.

 

Plus make it clear to speed credit that you will repay the original loan plus one month interest minus any payment already made, but not a penny more.

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Just to let you know, Speedcredit doesnt care about regulations or law. They simply want as much money as possible from you, whichever way they can get it.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Well, when I was in Court with a different PDL Company the Judge decided that the law applies to them as well, so the law does not work on a opt in system contrary to what some financial institutions appear to believe.

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Guest HardToBeat
, also do speed credit list defaults on your credit file etc.

 

Sadly, yes, they list on Call Credit only and list the account history and any defaults etc.

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Nobody said you would go to court. The fact that they are threating something which will probably never happen, so you feel so scared you have to take out more loans to pay it, is enough for the OFT to act.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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I feel even if i pay this they will just add fees

 

Yes they will do so, for me they added more than £3000 charges on a settled debt:lol: and someone else who posted on this forum had a debt with those folks turn from £100 into more than £19000.

However don't worry about legal action, they won't take you to Court.

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WHo owns the debt? If it's speedcredit, then tell the other companies to go take a running jump.

 

Dont even think about paying any money until you have found this out.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Ok. make sure you have full traceable evidence of everything that is going on. Theres no point writing to the registered addresses as they are simply empty premises. You must get the entire complaint going to the OFT. You can use http://www.oft.gov.uk/contactus#named4 to contact them.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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yep, emails bounce and physical mail wouldn't really reach them either, only way to contact tf / speedcredit is effectively the contact form on their website, make sure to screenshot what of what you send to have evidence.

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Screenshots wont normally be taken as evidence as they can easily be doctored. If the email bounces, its easier to simply save the reply you get from their email server.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Well had 5 email today from NDR now demanding £767.00.

They also state they will not accept any payment plan they state they will call to our house and take goods, also i email asking to arrange a plan and they refused in 45 sec lol what next ?????? I work away and worried

they will turn up when iam away

 

any thoughs

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just keep offering them what you actually owe and not a penny more.

 

as for the threats of them showing up, they've been telling me the same for over a year and never showed up, so don't worry about that.

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yes, they will keep demanding more and more, however once you paid off what you actually owe it leaves you in a better position with official complaints. Plus should it ever.come to legal action defending wil be much easier.

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