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Couldn't agree more and if that is nothing for a while so be it.

I tend to be more amenable to those that treat me fairly but i always check the legality of any claim they make. That is why i do not always agree with some people.

Just remember CB, i think of you as one of the good/fair/reasonable people so please don't take comments i make as an attack,normally just my bad grammar and expression.

Any opinion I give is from personal experience .

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Citizen B I didn't really understand that bit. However from experience,particularly with PDL s they do not care about other non priority debts. In two cases they both wanted a sum that if i had paid to all creditors would have left me with negative money each month.

 

They originally offered me a payment plan of £480 p/m, so I restarted the online assessment and added some of my non-priority debts (which they classed as non-secure debt, credit cards etc) into the essential expenditure column to see what would happen, and then the payment plan went right down to below £200 p/m. Thats why I think they don't really take them into account. As fletch70 mentioned above, if I had taken the payment plan of around £480 I wouldn't of been able to pay any of my other creditors.

 

I was meaning the total amount not the monthly installment. In my example if minicredit came back saying i owed them a reasonable amount i would talk to them. They know that and until they do they can whistle

 

I owe just over £1200, which is total amount I needed to repay from what I borrowed in January. I have never defaulted on a PDL and this was the first time i had ever contacted one to arrange a payment plan.

Edited by bbfc
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That's fine. Just so long as they aren't trying to screw you any more than they have already. That's just my opinion on their business practice and not you.

 

It is just so wrong how they try to get their money first or insist you follow their online assessment etc.

Any opinion I give is from personal experience .

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That's fine. Just so long as they aren't trying to screw you any more than they have already. That's just my opinion on their business practice and not you.

 

It is just so wrong how they try to get their money first or insist you follow their online assessment etc.

 

Well they obviously were trying to from what their online assessment was telling me. I just realised what they were doing and made my non-priority debit more of a priority, which reduced the monthly payment.

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  • 4 weeks later...

So for an update on my situation, I defaulted on both the quick quid and wonga loan. I sent quick quid the following email

 

 

To whom it may concern

 

I am writing regarding a loan I have taken with you that is now unfortunately in default. Due to unforeseen circumstances I was unable to repay the loan on the original repayment date.

 

I am committed to repaying this loan however I unfortunately do not have the funds to repay it all at once so I am proposing a repayment plan.

 

I propose to pay £100 on the first of each month in order to clear the loan so my payment plan would be

 

01/04/13 £100

01/05/13 £100

01/06/13 £100

01/07/13 £100

01/08/13 £100

01/09/13 £100

01/10/13 £100

01/11/13 Final payment £124.50

 

I would be grateful if you dealt with this request quickly and emailed me with confirmation that you accept this repayment plan as I feel this is a fair proposal as it is the maximum I can afford.

 

I also request that all interest be frozen on this loan and all communication be through email.

 

Thank you in advance for your help with this matter.

 

Within 3 hours I received an email agreeing to the terms and my online account was updated.

 

I had heard good things about Wonga so I thought I would ring them and see what they had to say before going down the email route. I also offered them £100 per month and immediately received an email agreeing to this.

 

I am very shocked at how easy it was and I'm just hoping it's not too good to be true! I know these companies aren't exactly the most trust worthy but I will definately have the funds to stick to that payment plan and I will keep you informed if they stick to it as well!!

 

Oh and I will never ever go near another PDL again!!

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Jendev, the cynic in me believes their co-operation probably has something to do with the fact that they are very likely one of the PDL companies in the sights of the OFT

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?384484-50-payday-lenders-face-ban-warning-from-OFT

 

However, well done in being able to resolve this without too much hassle and it is very good to hear that you wont take out any more PDLs :)

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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CitizenB I completely agree thats what I thought to be honest but it's good news for me and others like me. I hope all the recent news coverage makes people realize that it is just not worth taking a PDL out. I am looking forward to a future of happy pay days rather than setting my alarm for the middle of the night to move money around!

 

I have found the advice on here so helpful so thanks a bunch everybody :-)

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The PDL's will find a way around it. Take the real owner of Toothfairy/speedcredit and that group of companies. He's gone into hiding and took himself off the list of directors and passed them to his friends, but he's still behind the scenes.

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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CitizenB I completely agree thats what I thought to be honest but it's good news for me and others like me. I hope all the recent news coverage makes people realize that it is just not worth taking a PDL out. I am looking forward to a future of happy pay days rather than setting my alarm for the middle of the night to move money around!

 

I have found the advice on here so helpful so thanks a bunch everybody :-)

 

Yes, I can imagine that was pretty traumatic and agree, that whatever the reason for their co-operation, it is still excellent news :)

Have we helped you ...?         Please Donate button to the Consumer Action Group

Uploading documents to CAG ** Instructions **

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

BCOBS

1: How can BCOBS protect you from your Banks unfair treatment

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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CB how could you be so cynical? Next you will be telling me minicredit are playing ball.

 

Btw does anyone know what happened to tower. Their website is sadly down lol

Any opinion I give is from personal experience .

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A LOT of PDL's have suddenly shut down or gone away. Or at least theyve closed down a lot of their trading names.

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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If a dca is only acting on behalf, tell them to bugger off. Deal with the OC direct. If the OC wont play ball, report them to the OFT.

 

Also, if the web address is towercapital.co.uk then chances are they ar ein the OFT's firing line.

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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