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Hi,

 

I am looking for a bit of advice here with regard to 247 Moneybox. I have got myself into a terrible state through Payday Loans and I am taking steps to get back on track by contacting everyone I owe money to and trying to arrange repayment plans. I e-mailed all the payday loan companies I owe money to last week and informed them I would be unable to make payment to them when I got paid on Friday. I am behind on my rent, council tax aswell as charges I owe to my bank and I also have no food in my flat. Life on a day to day basis is just a constant worry. I asked all the companies I owe money to not to take money from my account on Friday. I knew they would ignore me so I sat up on Thursday night waiting for my salary to go into my account so I could transfer my wages to my friends bank account so I could get access to the money. I was refreshing my online banking account every 5 minutes and when my wage eventually went in at 2am I attempted to transfer this money to my friends account but before I could do this 247 moneybox had taken £176.16 from my account. Is there anything I can do to get this money back. I am going to be left unable to get to work and begging people for food handouts if I cant. I don't want to be a burden on friends and or family. I hate myself for getting into this state. To put everyone in the loop this is due to a gambling addiction which i am trying to overcome. I just want my life back on track and get these people out my life. I may need further advice on other companies but I want to see if anything can be done with 247 moneybox at the moment

 

For information purposes here is a copy of the e-mail I sent 247 moneybox. Any advice would be appreciated

 

Dear Sir / Madam,

 

I am writing with regard to my loan with 247 Moneybox.

 

Please accept my sincere apologies but i am going to be unable to make my scheduled repayment of £176.16 on the 22nd February 2013.

 

I have a very severe gambling addiction which has put me in huge financial difficulties, I owe money to several payday loan companies which includes your company. My relationship with my parents has broken down and I am no longer living with them. I have had to seek alternative accomodation from the local council. I am now living at xxx and my postcode is xxx. Please do not attempt to contact me on my parents home phone number which is xxx. My new contact home telephone number is xxx. If you have to contact me at home please use this number when doing so.

 

I will not have the funds in my bank account for you to collect the payment due. The wage I am receiving will only cover what I owe the local council for rent and council tax, which is payable in advance, and also the bank charges which I am due to pay Nationwide. Therefore please do not attempt to take any payment from my bank account using my Visa Debit card details supplied. I ask that you cancel with immediate effect the CPA (contiuous payment authority) that was setup when I took this loan out. I will also be asking my bank to cancel this.

I would now at this point like to arrange a payment plan with you and ask that you freeze any interest and charges going forward so I am able to pay off this debt with you as quickly as possible. I do wish to state at this point I want to repay the debt in full and have no issue doing this. With my financial state though I wll need the support of 247 Moneybox to enable me to do this.

 

It is with great regret that I am having to ask for a repayment plan, but due to these unforeseen circumstances which have now effected my ability to repay the loan to you, I have no other alternatives available. I will have to contact all of the other payday loan companies whom i owe money to and attempt to arrange repayment plans with them which will hopefully allow me to get back on track financially.

I must inform you in the strongest manner that I do not wish to be contacted at my place of work at any point regarding this loan as this could jeopardise my employment and therefore I would not have the monies to repay the loan to you. My work telephone number was only provided for you to confirm that I was employed and that my place of work had a working land line, and this is what you informed me when setting up the loan. My work environment is not a place for me to discuss personal finance matters. Please only contact on my personal mobile number or the new landlne number I have provided you with above after 5pm or at the weekend. Any calls before 5pm will not be taken as I am at work. I am also happy to be contacted by e-mail or letter at my new address provided above. Please note should I find I am being contacted by 247 Moneybox on my work phone number then I will seek immediate legal advice as I have now given you prior notification regarding this.

 

Whilst I am arranging repayment of the loan with yourselves, and throughout the duration of any repayment period, I wish you yo be aware that I am fully aware of the OFT debt collection guidance and I will consider making a complaint about a company's behaviour under the guidance if it becomes apparent that you do not follow the legal guidelines and would have no other alternative than to seek legal advice. In particular section (2.2 g) 'Ignoring or disregarding debtors' legitimate wishes in respect of when and where to contact them.

I have no doubt that your company fully understands my situation and will adhere to Section 40 of the Administration of Justice Act 1970, the Protection from Harassment Act 1997 and The Consumer Protection From Unfair Trading Regulations 2008 when attempting to resolve these issues to the satisfaction of both 247 Moneybox and myself.

 

I do hope however that these issue do not come to pass and that we can arrange a payment plan to alleviate the stress of my whole situation, and to also enable the repayment of the loan to your company as promptly as possible

I look forward to hearing from you and will help in any way I can to organise repayments to your company as soon as possible.

Kind Regards

xxx

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Whilst you have the legal right to remove a CPA, i always advocate a completely new bank account to avoid potential problems further down the road.

 

You may be able to request a chargeback from your bank. Someone with experience of this will no doubt help ;)

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What exactly is a chargeback? Had a look through the net and it seems that it can only be used when there is a breach of contract or something that has been bought hasn't showed up? How would i go about doing this? Would I call the bank or go into the branch?

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Really feel for your situation and hope you get help with the gambling soon, it can be overcome if work hard and use the help that's available.

 

You can try phoning your bank and stating that you removed there right to taken eh from your account and if you send them proof of the email they may class it as unauthorised and credit the money back to you.

 

I would certainly get a new bank account setup ASAP for future wages.

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Thanks for the kind words I know I can and will get there but it will take a lot of hard work and effort but I really want my life back

 

With regard to 247 moneybox Nationwide are saying they cannot do anything as I didn't cancel the CPA through them. Is there anything else anyone can think of doing or am I just going to have to write this money off as gone. Like i said in my situation I cannot really afford to do this as this is going to leave me struggling to eat and more importantly get to and from work. Obviously if I am not working I wont get paid which just worsens the situation

 

I will arrange for a new current account to be opened tomorrow for my future wages. From having a look around here it seems Barclays will open me a basic current account without any credit check so think I will go with them unless anybody has any better recommendations?

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I think the coop cashminder is a decent alternative although that depends where you live as there are not many branches.


Any opinion I give is from personal experience .

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