Mr Lender

[JohnAMiller]

Hi All,

 

I had recently taken out various loans with Mr Lender and paid them off all in good faith, now I have issues paying one back and they are being obtuse.

 

I have changed my debit card and cancelled all direct debits with them, as such they cant take payments.

 

I am speaking to them about a payment arrangement but they are unwilling to write off any interest etc, even though I could have already paid 50% of the loan off in rollovers.

 

Any advice?

 

J

[renegadeimp]

Could you post some more info on the outstanding amount? Any charges or fee's/extra interest that has been added? Also, could we have the initial loan amount plus repayable interest, and if possible the length of the loan, and if you gave them any kind of permission to extend it?

[JohnAMiller]

Hi There

 

I owe just under £900. The loan amount was £650 and the interest was 548% per annum or 24,376% APR.

 

There has been a couple of charges on the account - but I have refused to pay these.

 

Unfortunately the loan rolled over a couple of times

 

J

[PDLVictim]

Hi JohnAMiller, Do not pay anymore rollover fees or charges to them and communicate in writing. They will try to insist but in the end they will give in. They do repayment plans over 12 months and I would offer (and insist on it) to repay the original loan amount of 650 GBP in either 10 instalments a 65 GBP or in 12 instalments a 54.17 GBP (depending on what you can afford). I would ask that the remaining charges/interest should be discounted at the end of the agreement (they did this with me and it worked). Only pay by standing order to their Barclays account. Depending how much you can afford you can also offer a full and final settlement of 60% (i.e. 390 GBP).

[JohnAMiller]

Hi There

 

I have done as you said - and agreed a loan repayment that is affordable to me.... and they are instructed only to deal in email with me .... which they have been doing ...

 

However - today I receive an emailed "Notice of Default Sums" to be applied to the account .... £60 .... HOW THE HECK does it cost £60 to write an email?

 

I am NOT paying that .....

 

J

[renegadeimp]

Its an unfair/unlawful fee. They are trying to chance their luck.

[PDLVictim]

Hi JohnAMiller, Ignore that email for now. Keep to the repayment plan agreed and that is it.