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Hello everyone,

 

I'll try and put this as short and sweet as possible. Basically I stupidly took out a 400 pound Speed Credit loan over the summer to relieve me of some bills I had. Inevitably, i wasn't able to pay it back when it was due, they rung me everyday for about 2 weeks until I stupidly agreed upon a payment plan of £80 a month for a period of 14 months. So the original loan had now tripled in size. I paid for 1 month but I just couldn't afford it so I missed a payment and I had ND recovery on my case and apparently, the file has now been passed onto MH Bailiffs who have sent me a threatening text, quote:"Home visit within 7 days.Speed Credit £1120 file is now owned be MH Bailiffs.Check email & call 0843381111 to settle your debt & avoid extra charges".

 

I'm a second year university student, I don't have a part time job anymore which makes this whole situation terribly stressful. I would like to set up another payment plan to something that I can afford. Any advice? Has anyone had any problems with the hellish company that is Speed Credit before? Do they or their associated debt collection companies take people to court?

 

Thank you in advance!

 

Regards.

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Hi Ben and welcome to CAG!

 

If you have a look around the forums you will see loads of threads exactly the same as yours. How many have been to Court? NONE

 

Remember that all charges are unlawful and do NOT have to be paid to them. Offer what you can realistly afford and pay by Standing order only.

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Thanks for the speedy reply :). I'll have a snoop around!

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Speed credit,ndr and marshall hoares have threatened me for months none of their threats ever happen their full of hot air. All you owe is the orginal loan plus one months interest, all the other charges are unlawful.

As havinastella has said no ones ever been takin to court by them, and probs ever will because there threats and treatment towards customers is disgusting they wouldnt want the evidence against them.shown in court.

So dont worry about things nothing bad. Will happen , if all you can afford to pay them is £1 a month just pay that

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