Help with TXTLOAN

[mjb1987]

Hi All,

 

New to this forum but unfortunately got myself in a bit of a mess with txtloan, i owe them money and am trying to negotiate a repayment plan but they dont want to know and keep referring me to a debt collection agency. They have already stated that the DCA are acting on their behalf and they dont own the debt but txt loan wont help. I sent them an email saying as the dca dont own the debt i would like to deal with txtloan direct and could they propose a repayment plan that would be suitable for both parties. They responded with the following...

 

Thank you for contacting us.

 

Unfortunately, we kindly have to decline your offer one more time.

 

Please bear in mind that in the credit agreement you agreed upon registering with us, in section 2, paragraph 2.4 it states the following:

 

"If you fail to make payments under the Agreement we may send your personal details, including name and contact

details and details about your payment history under the agreement, to third party debt collection agencies so that they

may collect the money that you owe under the agreement."

 

I am certain that you can come up with a mutual agreement with them as well in regards clearing the outstanding balance.

 

If you have any other questions or concerns, please do not hesitate to contact us on 0871 705 0000* or send an e-mail Please have your mobile number and PIN ready before calling our customer support number.

 

Kind regards,

 

 

What should i do next??

 

Thanks in advance for any help.

[meepfest]

Have you contacted the DCA at all or just tried to deal with TXTloan?

[mjb1987]

Just tried to deal with Txtloan so far as im not even aware who the dca are, what would you advise?

 

On their website they state "Please don't ignore this matter - it will not go away on its own and we will do all we can to find ways to help you" But so far they have just been disinterested.

 

What would you advise?

[meepfest]

Most PDL companies will be entirely disinterested in offering any kind of help unfortunately. Certainly don't contact them by telephone, all contact with anyone involved should be in writing. Out of interest is your money still going into the account that you're in debt with TXTloan with? If so, I'd suggest opening another, basic bank account with another bank in order to protect your money because if the lender has your card details they'll undoubtedly try to dip into the account.

 

You say TXTloan have advised the DCA don't own the debt, did they provide this in writing? If they don't, then as far as I'm aware you're not obliged to deal with them and can in fact deal with the lender direct (other CAGers may be able to confirm this and provide a supporting regulation). As for not knowing who the DCA is, I'd be inclined to ask TXTloan to confirm who they've passed your details onto...

[mjb1987]

Most PDL companies will be entirely disinterested in offering any kind of help unfortunately. Certainly don't contact them by telephone, all contact with anyone involved should be in writing. Out of interest is your money still going into the account that you're in debt with TXTloan with? If so, I'd suggest opening another, basic bank account with another bank in order to protect your money because if the lender has your card details they'll undoubtedly try to dip into the account.

 

You say TXTloan have advised the DCA don't own the debt, did they provide this in writing? If they don't, then as far as I'm aware you're not obliged to deal with them and can in fact deal with the lender direct (other CAGers may be able to confirm this and provide a supporting regulation). As for not knowing who the DCA is, I'd be inclined to ask TXTloan to confirm who they've passed your details onto...

 

I am in the process of opening another account however after my last pay i basically waited up till midnight when it had gone in then transferred it to my savings account which they cant access.

 

I don't recall them informing me that they had passed the debt over however even if they have they have clearly stated the dca is only acting on their behalf and do not own the debt, surely i can deal with them direct? I would have thought it would be in their best interest as im actively looking to pay back what i can afford.

[Jamie Kingston]

sometimes you find good stories about them where they'll agree to get it sorted... just keep offering what you can or a weekly or monthly basis and see where it takes you...

[meepfest]

Tend to agree with Jamie - have you actually proprosed a repayment plan to them or just asked them what they're prepared to offer? I'd be inclined to respond to their email with an affordable repayment offer requesting their bank details so that you can pay by standing order as you would prefer to continue to deal with them.

[mjb1987]

Tend to agree with Jamie - have you actually proprosed a repayment plan to them or just asked them what they're prepared to offer? I'd be inclined to respond to their email with an affordable repayment offer requesting their bank details so that you can pay by standing order as you would prefer to continue to deal with them.

 

Yes this was my response...

 

Ok, seeing as your website states the following "Please don't ignore this matter - it will not go away on its own and we will do all we can to find ways to help you"

 

I am going to propose the following repayment plan to clear the original debt and interest of £351.

 

1st instalment payment of £51 to be made on the 7th February 2013 with £30 per month to be repaid on the 7th of each month thereafter. Unfortunately I do not have any further funds to clear this any quicker and if I cant agree an acceptable repayment with each of my creditors i may have no other choice than to declare bankruptcy (not something i wish to do if it can be avoided).

 

Please supply me with the bank details for TXTLOAN so i can set up a standing order to commence these repayments.

 

Regards

 

 

They responded with......

 

 

We are unable accept your proposal and will not be able to set up a repayment plan with you.

I am certain that you can come up with a mutual agreement with Collection Agency as well in regards clearing the outstanding balance.

 

Sorry we are unable to assist on this occasion.

 

I feel stuck

[renegadeimp]

Report them to the OFT, and file a formal complaint as they are not following OFT guidance on Debt COllection.

[mjb1987]

Report them to the OFT, and file a formal complaint as they are not following OFT guidance on Debt COllection.

 

Thanks for your response, is there a particular part of the OFT guidance i should quote in my correspondance? What guidance are they actually breaching? I just want to make sure i have all the facts before responding here as im sure they are in the wrong. Like i have said i dont understand it as im actively trying to come to an agreement with them.

[renegadeimp]

Have a read of http://www.oft.gov.uk/shared_oft/consultations/OFT664Rev_Debt_collection_g1.pdf

 

Not any parts you feel they have breached and note them in a formal complaint to the OFT and the lender. With the complaint to the lender, make sure you head it FORMAL COMPLAINT. This starts the 56 day timer where they have to provide you with a final response or you can go to the FOS.