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Hi

I was wondering if anybody can help, I made the stupid mistake of getting into debt but I have got most of it sorted other the then my payday loan from swift money.

 

I have tried to come to an agreement to clear the debt but they are asking for 8000 pound for a 100 pound loan.

 

I cant afford to pay very much towards them and hoping for some advice to deal with them

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Hi,

 

A bit history of how this loans gone from £100 to £8,000 would help, or is that a typo and you've added one zero too many ?


 
 

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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No typo, my outstand balance is 8000, im not sure how it has gone so high. I got the loan a couple of years ago and defaulted, from what I can understand they charge 1% each day of the balance. Up to November last year I was paying them 20 pound a month but they kept adding charges and interest.

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Hi,

 

Send them this e-mail or letter.......................

 

 

Dear Sirs / Madam

 

I am in receipt of your email / letter dated XXXX

 

Firstly your claim that I owe £8000, I would like to state categorically that I dispute the amount owed. By return I would like you to please give me a full Breakdown of how this debt is made up, including your charges.

 

Secondly if it is your intention to issue a statutory demand then it will be defended with vigour. In fact it would be extremely interesting to see what a judge would say in light of CPUTR2008, the Consumer Credit Act and your governing body's code of conduct.

 

If you do not give me a complete breakdown within 7 days I will open a case with the Financial Ombudsman who will charge you £500 just to investigate my complaint. I am also forwarding your email to the Office Of Fair Trading, my local MP.

 

Once I have a full breakdown of how the debt is made up then I may be in a position to make some repayments.

 

However if it is your intention to issue a statutory demand then I will produce this letter to the judge when the issue of costs arises.

 

I trust this makes my position completely clear.

 

Yours faithfully

Edited by maroondevo52

 
 

Any advice I give is honest and in good faith.:)

If in doubt, you should seek the opinion of a Qualified Professional.

If you can, please donate to this site.

Help keep it up and active, helping people like you.

If you no longer require help, please do what you can to help others

RIP: Rooster-UK - MARTIN3030 - cerberusalert

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One thing to add to the advice above, copy in Stella Creasy MP. She has some pull with journalists for national newspapers, especially the Daily Mail, and once she hears about the extreme charges being levied against you, im sure she and her friends would be VERY interested.

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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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Thank you for the reply's.

 

I will email them and let you know what they say to me

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