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Yet another case..

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Firstly, Hi to one and all - new member here. I'd like to say thank you to all the informative and helpful posters who I have been reading for a while now. I feel much more confident about my problems now that I know a bit more than your average Joe! Now, the problem....


Got myself into a stupid payday trap like many have on here, with multiple loans covering each other until I reached breaking point recently and couldn't keep up. Most lenders have been very understanding, especially textloan, who I e-mailed a payment plan on my balance which was agreed no questions asked, and with no extra money added. If only speedcredit were like this...


Reading around it seems, like many, I am going to have one hell of a battle to sort this one out. I took out a £400 loan in September which I extended a couple of times. SC demanded a final payment from me of £693 on 14/12/12. I didn't pay, and it zoomed up to £1169 on 16/12/12! Nearly £500 more in 2 days, incredible! They have also said it will go up to £1265 on 23/12/12.




I sent 2 similarly worded e-mails which offered them a repayment, the bottom of these below is the first sent, the top the last:




Dear Collections,


Thank you for my reply, which has addressed none of the queries I have listed below. I will only confirm payment dates and amounts to repay my loan when I have been dealt with sesnsibly and reasonably, and more importantly, relevantly!

I also find it strange that I e-mailed speedcredit, yet get a reply from NDR. Actually, not that strange on second thought, as you are both the same company. Anyway, back to my original point.


I will not be paying you £1169, £1265 or anything like the astronomical and ridiculous figures you are trying to charge me for my loan, and which I know you will keep bumping up as you keep delaying my repsonses in order to add on more of your fantasy fees. The mere fact that you were asking for £693 to settle the account only 3 days ago shows how ridiculous your demands are - how can you possibly justify demanding £476 more in the space of 2 days??! Utterly laughable.


As stated below, I offer you the full repayment of the loan funds, plus one months interest, which equates to £592. This is a more than reasonable sum for a one month loan - you are making £192 on £400, which is almost 50% of the loan amount in one month! Add on the rollover payments I have already given you, and you will have had almost £800 from me for a £400 loan, which in itself is incredible.


I have blocked any attempt you may make to take any money from me with my bank, so you will be receiving nothing from me until you agree to my more than reasonable offer. Once you agree to me paying £592, then you will start receiving payments until the account is settled. It couldn't be more simple than that.


I look forward to hearing from you,






To: xxxxxxxxxxxx

Subject: re loan ref: xxxxxxx

From: Collections@NorthernDebtRecovery.com

Date: Sun, 16 Dec 2012 17:23:00 +0000


Dear Matthew,

Thank you for your message passed to us by Speed Credit.

You currently owe £1169.

You will be incurring additional interest charges on the 23.12.12 making your total outstanding balance £1265.

If you are unable to pay in a one off payment, but are willing to pay £150 per month starting from this month, we are prepared to FREEZE all interest and charges.

Please confirm the dates that you will be making payment on and whether you wish for us to set this up to take payment automatically.

If you have any questions please do not hesitate to contact us on 0843 381 0843

Failure to make a payment or come to an amicable agreement will result in your file being passed to a third party bailiff company who will commence proceedings against you in your local county court.

Yours sincerely,



0843 381 0843

NOTICE: The contents of this e-mail are intended for the named addressee only.

It contains information which may be confidential and which may also be privileged. Unless you are the named addressee (or authorised to receive for the addressee) you may not copy or use it, or disclose it to anyone else. If you received it in error please notify sender immediately and then destroy it.

Northern Debt Recovery Limited (NDR) is a company registered in England and Wales whose registered address is Northern Debt Recovery Limited, 15 Lyndhurst Terrace, London, NW3 5QA, United Kingdom. Company registration number 6956396. Northern Debt Recovery Limited (NDR) is licensed by the Office of Fair Trading under Consumer Credit Licence number 631166.




Dear speedcredit,


I am writing to you to arrange a final settlement on my account. I am experiencing some financial difficulty, and am unable to make a full payment - I am therefore asking you to help me with a reasonable repayment plan.


I am not trying to escape or get out of paying back what I owe, but am refusing to pay all of your additional late fees, as they break OFT guidelines in the unfair terms in consumer contracts act, as well as potentially invalidating the loan with unfair charges under section 140a and 140b of the consumer credit act 1974. Simply ignoring my previous correspondence in order to give yourselves more time to add on these late fees is disgraceful.


You have tried to chase my debt with three 'different' collectors - speedcredit, northern debt recovery and Marshall hoares bailiffs. A quick search of company check shows NDR and MHB to be dormant, a search of the postal address for MHB shows this to be a dead address, and the registered address for the company is also empty. Even more incredible is the fact that having had threatening calls and letters from all three, in which they all claim to be independent, all have demanded payment with exactly the same bank details. You may be able to leech extra money from some less informed 'customers' of yours, but unfortunately I am not one of these. I know exactly what you are trying to do, and will not be intimidated or scared by your bullying and threatening tactics. I know for a fact all of these are the same company, with these fantasy fees added or purely to extort as much money from each customer as possible.


My initial loan was for £400. One months interest on this figure equates to £192, giving me a total to repay of £592. I will happily pay this back, and not one penny more, in reasonable monthly payments, until fully repaid.


Please reply to this email, and I will happily negotiate a fair and reasonable time in order to pay you back. Until this is agreed, I will not be paying you anything.









As you can see, they did nothing to address any of my queries, merely telling me I owe £1000+ again, and threatening further fees and court action etc. Decided I'd try the phone option, and phoned NDR today and made them a final offer of £592. All he would do was offer me a payment plan on £1169, which i immediately rejected. I then said I will pursue other avenues such as the OFT, FOS etc to assist me. He also threatened court action, to which I openly invited NDR to take me to court so that they could justify adding nearly £500 to my loan in 2 days as a fair and just fee, along with all of their other stupid breaches of code and practice.

I said to him I would be 100% confident of success in court if they wish to choose this option, he just laughed and said 'Sir, there is no way you would win'. At this point it was obvious he was running out of ammo, so i just decided to terminate the call as It was clearly getting me nowhere.


Where to next?? Are there any other email contacts who will possibly deal with my query without firing back some standard reply without giving any answers to my queries and offers?


Sorry this post is so long, hoping someone will be a kind soul and further advise my next move. I have cancelled my card and blocked CPA's and any attempt from SC to take anything from me, so they will be getting nothing at all until they accept my more than reasonable offer.


Many thanks :-)

Edited by freakyleaky

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Will remove name now TT. Thanks.



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If that is an exact copy of what they said you need to report them to the oft. They can not say they will take you to court etc and only the owner of the debt can do that anyway

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If that is an exact copy of what they said you need to report them to the oft. They can not say they will take you to court etc and only the owner of the debt can do that anyway


Thanks for the reply. Not sure where to go, but had an unexpected bonus in that I instructed my bank to remove and CPA to speedcredit immediately....did this yesterday, and today had a £96 refund from visa in my account saying it was unauthorised! Bonus! Maybe this will show them I mean business. Could be a long struggle, but worth the effort.


Incidentally, could anyone suggest an email contact that will reply to me as a human rather than spitting an auto templated response to me??

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I do not know what else to suggest other than keep off the phone and to every letter they write reply with your offer. However i would start off with a letter asking them for a full statement of account and making your offer. Keep records and take it from there

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