Peachy

avocados · February 25, 2013

I have been having fun with peachy loans. I have been playing email tennis with them. They reply very quick but I seem to be getting nowhere. Ill post up our correpondence in a minute, its quite long so a big thanks in advance for the time of anyone that reads through and advises.

It was for a £160 loan. I am struggling to keep my replies to them polite as they are really testing my patience.

1st email I sent them when I realised some money had not gone into my account, I was just asking them not to raid my account while I looked into why I had not been paid....

Dear Peachy.

I was expecting to be paid some money into my bank account today by my University and it has not gone in yet. Therefore, this morning funds are not available in my bank account to be able to repay the loan.

I need to chase up why the money has not cleared and request that you do not attempt to take payment by the debit card details I supplied as this will put me in a mess with my bank.

I will be in contact later today with an update (and hopefully payment!)

Regards

#####

And their unhelpful reply

Dear #####

Thank you for writing.

Please note that we follow strict policy procedures determined by our Credit Risk Committee and therefore we cannot stop the system from collecting the funds.

Please be advised that all our collecting procedures are automatic and we are not able to stop them until the balance has been cleared.

Therefore our system tries to collect the funds every day until the debt is cleared.

The card registered with us ends with *####, the amount outstanding today is £176.20.

If you have any further questions please do not hesitate to contact us via e-mail [email protected], by calling us on 08 723 310 433 (calls cost 10p per minute) or by visiting our website www.peachy.co.uk GET HELP section.

Thank You for choosing Us,

Chanette Kodres

Peachy Customer Service Team

So i fired them back the cancelation of the CPA Dear peachy

Thankyou for your reply

I only wanted to suspend your collection attempts until I have figured out why I have not been paid, I may be able to resolve this payment problem with my university today but it may take longer. OFT guidlines state that debt collectors should "exercise forbearance and consideration, in particular towards debtors experiencing difficulty – we would expect businesses to work with debtors with a view to providing them with reasonable time and opportunity to repay debts and, where

appropriate" http://www.oft.gov.uk/about-the-oft/legal-powers/legal/cca/debt-collection#.USSlo6V9CtY

I do not know what has happened to the money that was due to be paid into my account, I have priority debts that need to be paid and I cant put myself at risk of not being able to pay these due to you putting me overdrawn or stripping my bank account. Due to your reply to my email I feel I have no choice but to cancel the Continuous Payment Authority.

I am withdrawing my authorisation for any more payments to be taken from my account for this debt.

The last 4 digits of the card these payments are being taken from are ####

In line with the payment services regulations which are run by the Financial Services Authority, any more payments taken from the card will be an unauthorised transaction.

I have enclosed some information below from FSA should you be unaware of your obligation to cancel the authority.

Please send me confirmation you have done this.

Regards

#######

No reply so I sent them a reminder...

Dear peachy

I have been informed that I will not be receiving the money I was expecting. I only borrowed from you as I believed I was able to pay you back from this today.

I can not afford to pay you back as agreed in the original agreement. Money is tight and now even tighter after receiving news today that money I was expecting will not be paid to me. I need to set up a repayment plan with you and will be in touch within the next few days once I have worked out how much I can afford to repay you after I have repaid my priority debts.

Please confirm that you will no longer be taking payments from the debit card ending #### as in my last email I withdrew my consent for you to take payments form this card and I have not received a reply from you.

I look forward to your reply.

Regards

#####

reply from them ....

Thank you for the e-mail.

Please note that you need to set up a repayment plan with our Collections office as soon as possible, otherwise your loan will be handed over to our external Debt Collection partner.

Please write an e-mail to [email protected] saying when you could start making your repayments to cover your outstanding balance (the first date needs to be within a month), how often you could make them (weekly, fortnightly or monthly) and how much you could afford to pay each time. Please also let them know how much down payment you could make.

Our Collections Team will then either accept your offer, deny it or propose an alternative arrangement.

You could also call them on 0845 5576 508 (calls cost 10p per minute) to discuss the repayment.

Our Collections Office is open Mon-Fri from 8.00am till 4.30pm.

For further help please visit Get Help section at www.peachy.co.uk.

Thank You for choosing Us,

Kristina Luzgatsova

Peachy Customer Service Team

More to come on next post

avocados · February 25, 2013

So I make them an offer

Thankyou for your reply.

I should be able to afford to repay over 4 months which is £44.05 per month. The first payment would be on 15th of march ( i have no money at all til then). then every month on the 15th

regards

####

I receive this from them, just them quoting their terms and conditions and ignoring my CPA cancel demand(s)

Thank you for the e-mail.

lease note that if you are not able to make the payment on your

repayment date, extra charges and interest will be added.

As we value you as a customer and want to help you to avoid overdue

charges we would like to offer you the opportunity to EXTEND your

loan. You are allowed to extend your loan for up to five times. You

may apply for a loan extension through the ‘my account’ area or by

simply sending an SMS saying EXTEND to 67788. The extension will work

as a re-financed loan. It will be for the same period of time as your

initial loan period.

Please note that in order to extend the loan you need to pay the

outstanding interest and fees of your current loan.

Please note that the loan was issued to you just 7 days ago and you

have already informed us that you would like to have a repayment plan.

Please be advised that you have electronically signed our Credite

Agreement including the following clause:

"1.9 By signing this Agreement, You confirm that Your wages are

regularly paid into the Account. You also agree to ensure that there

are sufficient funds available in the Account on the agreed repayment

date(s) to repay any advance, interest and transfer fees to Us.

1.7 You agree that at the date of applying for and accepting an

advance from us, you are not:

a) in a Debt Management Plan (or similar scheme) or considering

entering a Debt Management Plan (or similar scheme);

b) in an I.V.A or are considering entering into an I.V.A.;

c) bankrupt or considering filing for bankruptcy;

d) under notice of termination of employment, redundancy or any other

notice which could affect your employment status;

e) in receipt of Statutory Sick Pay or suffering from any medical

condition which would cause you to apply for Statutory Sick Pay during

the period of the loan;

f) in receipt of any benefits instead of your usual wages, salary or

other income declared to us in your application."

Also, we would like to draw you attention to the fact that by law we

are obligated to consider offers by debtors to pay by instalments

provided such debtors have supplied evidence of inability to pay in

full, and accurate income and expenditure information demonstrating

the maximum amount they can afford to pay.

Our accepted criteria for a repayment plan are as follows:

• Significant Loss of income

• Unexpected change in personal circumstance, e.g. Long term sickness

• Severe Disability or illness (including close family members)

• Terminal illness or Mental illness (including close family members)

• Deceased (including close family members)

• Redundancy or Reduced hours (contractual hours reduced by company)

All or any of the above require documented evidence. I.e.:

• If you are now unemployed or in receipt of financial support, please

provide proof of unemployment or redundancy. If your contractual hours

have been reduced by your employer, please provide a letter from your

employer on company headed paper to confirm this.

• If your circumstances have changed due to personal illness, please

provide a copy of a doctor’s note or hospital letter.

If your financial circumstances have changed we may be prepared to

consider a reasonable and affordable repayment plan. Once we receive

the required evidence of the change is your financial circumstances,

we will be able to arrange a repayment plan for you. Please note that

in order to arrange a repayment plan you would need to make a down

payment of £30.00 as a sign of good will immediately. This amount

would be deducted from the credit amount.

Until we haven´t arranged a repayment plan our system still tries to

collect the full amount and also additional charges and interest will

be added.

Please note that our system is automatic and tries to collect the

outstanding payment on a regular basis and overdue charges will be

added. Please make sure you have sufficient funds available as soon as

possible.

--

Kind regards,

Karen Randoja

Peachy Collections Department

http://www.peachy.co.uk

So i tell them again I am skint, and remind them once more that they cant take money from my card...

Thankyou for your reply.

I do not have any money in my account to extend the loan, I do not have any money in my account to offer you £30 today. I have already told you this. I do want to repay you and I am not trying to get out of this, but due to not being paid today as I was expecting to be I will have to arrange a repayment plan. The earliest payment I can make is 15th March for £44.05 followed by 3 further monthly payments on the 15th .

You can not continue to attempt to collect funds from my card. I have cancelled the Continuous Payment Authority. I withdraw my consent for you to do this in an email at 10.47 this morning, and I also sent a reminder at 15.46 as you had ignored me. I can fully understand now why Payday Loan companies are being investigated by the OFT as it is clear you believe that you should be able to make your own rules and regulations up. Once again I remind you of OFT guidlines. http://www.oft.gov.uk/about-the-oft/legal-powers/legal/cca/debt-collection#.USUCBKV9CtZ At the end of this email I have once more enclosed information from The Payment Services Regulations 2009.

Please reply to my offer with your bank details if expected and confirm that you will not be taking funds from my account by the debit card as I have withdraw my consent for you to do this.

regards

######

still more to come on next post

avocados · February 25, 2013

I am starting to get annoyed with them

Dear Loan Shark

I will ask you for the 4th time. Please confirm that you will not be attempting to take funds from the debit card I supplied ending ####. I no longer give you consent to take payment from this card.

I will be saving all emails to make a complaint to the OFT, Ombudsman and if needed as evidence for legal action.

Regards

####

They replied with this BS

Thank you for the e-mail.

We would like to point out that although you have every right to

cancel the Continuous Payment Authority, you have the right to do so,

when an alternative payment method is in place, it does not free you

of the responsibility to repay your loan.

We cannot simply cancel the existing Credit Agreement, without replacing

it with an alternative agreement that both parties agree to. Revising

the existing Credit Agreement and setting up an alternative repayment

plan is a matter of negotiation not dictation and we expect our

customers to be willing to cooperate, exchange information and

communicate with us. The Credit Agreement and payment methods cannot

be changed unilaterally.

We have sent a information request in a previous e-mail. In case you wish to

have a repayment plan, please be so kind and provide us with the required

documentation and evidence of your financial difficulties and we will

then require

the best offer from our Credit Committee. As long as you loan repayment is

outstanding and we have an alternative agreement in place, the system will

try to collect the payment on a regular basis.

--

Kind regards,

Karen Randoja

Peachy Collections Department

My response, with my offer again...

I never said in any of my emails to you that I was not going to repay you. I was only asking you to be reasonable due to me not receiving money I was expecting.

I do not know how you want me to prove to you that I have not been paid. This is impossible for me to show you and you will have to take my word for it.

With regards to the continuous payment authority, I initially asked you to suspend collection attempts while I looked into why I had not been paid. You refused to do this so I had to withdraw consent for you to use the debit card as I needed to protect money required for my house/council tax/etc as payday loan companies are known to strip bank accounts.

Please provide your bank details so I can set up a standing order. I will set up a payment for the 15th march. This is the earliest I can pay you as I receive nil income until then. I will set up for 44.05 a month. Please can you stop adding charges and interest as the balance will continue to go up not down as I can not pay you more than this.

Regards

####

Their reply asking me to pay in one go next month

Thank you for the e-mail.

Please be so kind and explain if the fact that you did not get paid

the funds you were expecting is just one time exception. As in case

you are not experiencing a long time financial difficulty then why

would you need a repayment plan and to make smaller payments.

Please confirm if you would be able to make the payment in one go on

the 15th of March, in which case we can negotiate with our Credit

Committee to see if we could write off some of the additional charges

and offer you a discount so that you would be able to afford the

payment in one go.

In case this is not suitable for you and you wish to have a repayment

plan then we would like to state once more that we are not able to

arrange a repayment plan without evidence of the change in your

financial situation. For this, please be so kind and provide us with a

copy of your bank statement.

You may download the bank statements from your online banking:

Step 1: Log in to your online account;

Step 2: Click "Statements" which are typically under the "Accounts" tab;

Step 3: Click "Save as PDF" and download the file to your computer's

desktop or one of your own folders;

Step 4: Send us an e-mail ([email protected]) and attach the

.PDF file into the e-mail from your desktop or folders. You can also

send the documents by fax to 0207 6811 193.

In case your bank does not have a facility to save the file in the

required format, please download a pdf writer and install it on your

computer.

Then press the button "print" when your online statements are open and

choose "print with Cute pdf" (or any other pdf writers you have

downloaded).

Your document will then be saved to your computer in a pdf format.

--

Kind regards,

Karen Randoja

So i explain my situation to them

The payment on the 20th was a one off bursary payment I was expecting from my University. I have since been told that I am not entitled for this. This has messed all my finances up as I was going to be using this to pay a few things, including higher priority debts like HP payment and this months council tax so its not just you that I need to sort out how to pay. I am seeing a financial adviser from University this week to see if I they can help me with a payment from their hardship fund and I may be able to repay you from this if you offered a reduction. Although at this time I do not know if I will receive this or how many weeks/days it would take to process

I am paid by my employer on the 15th. This only just about covers my regular bills. This is why I can only offer the amount I did. I do not want to give you my bank statement as I see this as very personal information

More to come again on next post

renegadeimp · February 25, 2013

Noce to see that they openly breach oft guidance. Adding on charges and interest when you have told them you are in financial difficulty is a big no no.

avocados · February 25, 2013

They want me to extend the loan, in other words give them more money for nothing

Thank you for the e-mail.

Your request to defer the payment for a month without any payment to

us is not acceptable and will be considered as a deliberate act to

avoid repayment.

Please note that if you are not able to make the payment on your

repayment date, extra charges and interest will be added.

As we value you as a customer and want to help you to avoid overdue

charges we would like to offer you the opportunity to EXTEND your

loan. You are allowed to extend your loan for up to five times. You

may apply for a loan extension through the ‘my account’ area or by

simply sending an SMS saying EXTEND to 67788. The extension will work

as a re-financed loan. It will be for the same period of time as your

initial loan period.

Please note that in order to extend the loan you need to pay the

outstanding interest and fees of your current loan.

As you are not willing to send us the required documentation our

Credit Committee is not willing to offer you a repayment plan without

any kind of a token payment made by you.

--

Kind regards,

Daniel Erma

I tell them again I have no money and tell them I will be paying monthly

I cant pay you a token payment as I have no money

I am not going to email you again after this as have made it clear my position. You will receive 4 monthly payments by standing order on the 15th of 44.05. I can not pay you more than this.

If you really want to go down the detailed calculation route of examining all my debts and available income after priority debts are paid. Then you will find that a fair payment based on percentage of total debts would be around 1 pound per month (based on how a court or the ombudsman would see fair and not rules payday loan sharks make up to suit them). I can provide you with all of this information and offer you this if you like? But I suggest you accept my initial offer of 44.05 a month.

This will be my last email regarding this matter

Thank you for the email.

So they dont understand wahtb having no money means and still wnat a token payment now, they still want repayment in full next month and they still are ignoring the fact that I have cancelled the CPA!

As you have been advised previously, we are not able to arrange a repayment plan for you without the down payment.

If you are not able to make us any payments until 15.03.2013, we are willing to offer you a discount if you repay your loan in full.

With regards to your outstanding balance the amount currently owed is £202.80. By 15.03.2013 your balance would stand at £286. We are able to write off all the penalties, but we are unable to remove the daily interest.

As a full and final settlement we offer you to repay £220.00 on 15.03.2013.

Please confirm if this offer is acceptable and your debit card details remain the same. :-x

Until we reach an agreement on this matter our system will try to collect payment on a daily basis and additional charges will be added.

My reply

Wow! you really do believe that regulations do not apply to you! You can no take payment from my debit card as I no longer give you consent to do so. I have told you this on many occasions over the last few days! I will be reporting you to the OFT as it is clear that you are refusing to cancel the continuous payment authority like I asked you to.

I can not pay you £220 on 15/3/13 as I do not have that kind of money, I told you I only took the loan as I was expecting to be able to repay in full from a university payment which I am no longer getting. I do not have £220 of expendable income per month.

Please provide bank details for standing order so I can set up to repay you

Regards

#####

They came back with this repayment plan

Thank you for the email.

The best offer we could obtain from the Credit Committee is as follows:

1 15/03/2013 £32.61

2 15/04/2013 £45.12

3 15/05/2013 £44.87

4 14/06/2013 £44.86

5 15/07/2013 £45.02

6 15/08/2013 £45.02

Please confirm if this is acceptable for you in order to finalise the agreement and we will provide you with our bank account detail.

Please note that once the repayment plan is arranged it will not be possible to change the repayment dates nor amounts.

Shall we fail to receive the payment on the dates agreed, all additional charges will be added and your debt will be forwarded to our external Debt Collection partner immediately.

My reply telling them thid debt is not top of my priorities

Sorry I cant accept this. I can not afford to repay £257.50 for a £160 loan. This is excessive and in my financial situation I should not be paying this.

This is not a priority debt, I struggle to meet my everyday bills yet not only do you demand that I put this first over everything else but you want me to pay extra interest and charges over all my other bills.

I have repayment plans set up with other creditors that I am in arrears with, they have frozen all interest and charges as they are aware that adding these would only make my situation worse. I have one CCJ which I repay at £10 per month for just under £3000, my income was assessed by the court for this. I have around 10 creditors all of which I owe considerably more that what I owe you and all of which I repay at a monthly rate that is much less than I have offered you.

As I gesture of good will I can reoffer you 4 payments of £44.05 per month, I will struggle to repay this but as it is only over 4 months I would be just about able to stretch to this. If this is not excepted then my next counter offer will be pro rata based on my expendable income and total debts, this will be considerably less at around £1 per month.

Regards

####

renegadeimp · February 25, 2013

Not forgetting that they are refusing to stop any transactions on your account which could be considered theft.

avocados · February 25, 2013

So now just waiting for a reply to this from peachy.

Thanks for anyone that took their time to read through this

Edited February 25, 2013 by avocados

avocados · February 25, 2013

i have received a reply from them, they are still being stubborn with a refer to the terms and conditions blah blah blah reply.

I dont see how all the charges that they plan on adding could be legal at all??

Thank you for the e-mail.

Your offer is not acceptable.

In case we arrange a repayment plan there will be no more charges or

penalties added, but a small daily interest remains as we are loan

provider and we do not offer loans for 6 month with 0% interest.

As you are unwilling to send us any of the required document as proof

of your change in circumstance we can no longer negotiate this matter

with our Credit Committee. The offer that we sent with the repayment

plan is valid for today only.

In case this is not suitable for you, please note the original

agreement is valid and according to the Credit Agreement you signed we

act as follows:

We charge you interest at the rate applicable of 1% per day (fixed)

(365% per annum);

1 day after the due date we will send you an overdue reminder

resulting in a £25 administrative fee and interest on the principle

sum at the rate applicable of 1% per day to be added to your loan.

3 days after the repayment date another overdue reminder including a

£12 administrative fee and interest on the principal sum at the rate