Motormile Finance chasing Payday Loan debt - Up to date on Credit file - Next step?

[MattStockton]

Hello, after years of burying my head in the sand about my debts I'm finally trying to get sorted and move on with my life. I looked at my Noddle Credit report and as expected found a number of defaults primarily relating to 2009/10 when I got a lot of credit and failed to keep up payments. Since that time I have took just one loan, a payday loan for £100 with Peachy Loans (aka Cash on Go Ltd) in 2011. I failed to pay this back and Peachy chased me as expected and then passed it onto Mackenzie Hall. I didn't respond at all and subsequently I heard nothing until earlier this month when Motormile Finance (MMF) started e-mailing me threatening home visits and have started sending automated call’s to my work which could be highly embarrassing if I’m not there as other people pick up my calls. I have contacted their MD about my rights and the Prevention of Harassment act etc which I did yesterday and hopefully this might stop them. I have checked Noddle and surprisingly the debt states “Up to date” with Opening Balance of £100 and regular payment of £350. I investigated it further and the account was marked for Sep, Oct, Nov of 2012 only with “UC” which according to Noddle is defined as “Unclassified or recently opened account payment delay” and this was last updated on 01/11/2012. I was hoping for some advice what to do. MMF are demanding a payment of £349.84 which ties in with the regular payment of £350 stated on Call Credit. I have started recently saving money and have enough to pay this debt. Please can anyone help? Should I go direct to the original creditor, Peachy Loans and contact them or speak to these awful people at MMF? I would like to try and negotiate a smaller payment than £350, maybe £225? Do you think I have the best chance of doing this with MMF or Peachy Loans? Finally, I am worried about this on my credit file. If it goes to default that will be another 6 years staying on it. Can I maybe say to MMF or Peachy I will pay it if I get a guarantee they mark the account as settled and do not mention the default pretty sure I did get a default letter from Peachy last year but cannot find it). Any help would be much appreciated. Kind Regards Matt

[renegadeimp]

Can you tell us who are the named owners of that entry in your credit file? MMF are run by some shady people, and the company has a dubious past.

 

However, you need to provide the entry info to us, so we know which advice to give you, as it would be different depending upon the owner of the debt.

[MattStockton]

Hello,

 

The entry has been made by Peachy Loans under their other name Cash on Go Ltd. No mention of anyone else on it. This is what MMF sent me by e-mail (they had not sent me any other correspondence prior to this even though they state that below);

 

"

HOME VISIT- Pre-Appointment Notice

Our Ref: ***

Peachy Payday Loans

Debt Value: £349.84

We note that we have not heard from you in response to our earlier communications.

Your file is shortly scheduled to be transferred to one of our Home Visit Divisions.

 

We are happy to try to resolve this matter without conducting a Doorstep Visit and would ask you to contact us by telephone or email to discuss repayment terms.

 

Please note that if we do not hear from you, then you will be visited to assess your personal circumstances with a view to passing your account to our Legal Department.

 

We would, lastly, advise that if you are able to make a lump sum settlement offer, then we would be willing to allow a 25% discount on the outstanding balance and to waive the default costs and interest that have not yet been added to your account balance.

 

Please contact us urgently on 01138 876 876 quoting reference"

 

Thanks

 

Matt

[renegadeimp]

Ok. Peachy still own it. Tell MMF to take a running jump and go play with some traffic. MMF cant do ANYTHING whatsoever. Only Peachy can as they own the debt.

 

MMF is basically the kid in the playground who thinks theyre tough but still behind the bully.

 

Peachy Loans: You owe us Money. Give it to me NOW.

MMF standing behind the bully: Yeah or else!!!!

 

See what i mean.

[MattStockton]

Okay so I will contact Peachy Loans about it. What do I do if they say I must communicate via their DCA, I have experienced tis before with another couple of creditors? Does anyone have an idea what my chances are of getting them to mark the entry on my credit file as settled if I pay a reduce settlement offer? I was going to say somthing on the lines; "Dear Sir/ Madam, I took a loan out with you on xxxx for the amount of £100.00, loan reference number xxxx. Information provided from my credit file states that I am in arrears of £350. I am currently attempting to sort out my outstanding debts and wish to make a full and final settlement offer £175.00. If you accept this offer please state in writing and confirm that you will instruct the Credit reference agencies to mark this account as settled. I will then send a cheque to you for this sum." Does this sound okay? Thanks Matt

[renegadeimp]

Theres no obligation for you to speak to a third party about the debt. Of course, in some cases, it can be more helpful as they are sometimes more leniant, simply because they want the money.

 

However, in regads to PDL's and their DCA's, this is rarely the case, and they continue to barrage you with threats and harassment. A lot of the time they wont even consider your reasons that the majority of the debt is made of unlawful fees. Remember, to a DCA, you are a line on a spreadsheet with an amount to repay. They dont care who you are, or what your circumstances are. They just want as much money as they can get from you.