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Help - Im 22 and very lost..

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Hi guys having read alot of info about mini credit i sent the below email just now




My original loan amount was around £250 (I cant tell you this as i cant log into my account even though i have requested a new password 3 times).


I have to date received 6 letters from your selves stating the balance is now at ridiculous amounts.


and now my original loan of £250 is at £1,171. Which to be honest is completely laughable.


How this is escalated to this amount is beyond me but i like how you have included £100 of debt recovery costs, I would would really appreciate you justifying this amount, as all I can see

is 6 automated letters being posted out and the debt has not been passed on to another company or organisation.


and i quote your letter dated 29.11.12 " We have sent you several letters tried to speak with you offered all the payment options but You have ignored our efforts"


I must say terrific punctuation there, When i called to ask to set up a payment plan for what I could afford having lost my job and having a spell of unemployment, I was told no

payment plan could be offered and i could only have 90 days to pay the balance which was now around £490 and interest will be added daily. This is the only offer i had

and had pretty much no option to accept this,knowing my intial offer of a payment plan would not even cover the interest being added.


On a tight budget £490 to be repaid in 90 days is simply not possible, was the only option you offered and with you adding interest on.


I have arrangments in place with 2 other payday loan companies were a payment is made every week on a balance that is frozen and no interest is being applied, yet you offer nothing like this, this

is not myself not being willing this is you being complete crooks and not allowing this and continuing to add interest daily!


That is the only option you offered me, and the only option you do offer, so how you can state that in your letters is beyond me.


I have no trouble in paying the original loan amount + 1months interest but there is no way i will be paying anything close to the £490 offered or the final amount of £1,171.80.


Your charges are simply ridiculous and unjust.


Again in the last letter 3 letters prior to the most recent you have sent me you have threatened a "DOOR STEP COLLECTION" well...


To enable you to send a bailiff to my home you should in the first instance take me to court, win, get an order, I then have to break the order and then you can send a baliff. I will not be bullied into making a payment to yourselves. I feel your charges are unjust, and am offering a repayment plan of £50 per month without interest or charges being added until account is cleared OR a full and final settlement of £300 - £50 more than I borrowed. I believe your letter is breaking OFT guidelines by the threat of sending someone to my home and demand payment, so a copy of this email will be sent to them.

I am also formally requesting a full breakdown of the charges including full dates that interest was applied and at what interest rate on each date.


As mentioned earlier I have no problems with paying the intial amount and a full months interest, but you guys seem completely unwilling to help out, in means of offering a payment plan, or responding to any of my emails or

not transforming an amount of £250 to close to £1200 in less than 6 months!!


I await your urgent response.


Mr Alan Richardson




Im very worried about this, i live with my parents but would not want to embarass myself and ask for help as i have in the past, i feel terrified, its xmas and my date of 90 days expiry is 28th dec, i have next to no spare money and yet to make a payment towards it as any payment i would make would be eaten up by the £3 a day interest. Im considering getting another payday loan to cover the balance which stands at around £580 but if not paid by the 28th will go to £1200 ish.


I feel that will just make things worse, i have loans with wonga and 1monthloan and paying them weekly without any problems, they dont offer this and i dont want another default on my file as im 22 and want to get a mortage in 7 years once my silly payday loan debts are gone and off my credit file...


Is what ive sent enough to produce to a juge,


The biggest concern is i work in financial services for a supermark chain in banking and they do yearly screening and if they discover you do have a CCJ you will most likely be sacked...


This has spoilt my year and my xmas no doubt, I feel completely powerless and exhaused from lack of sleep and stress.

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