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Tawnyowl

New payday loan survival guide by mike dailly-govan law centre./ correct at 22.09.2015

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Thanks for your post.all I want is them to accept my repayment plan I don't care about a default on my credit file iv had 1 nervous breakdown and don't want another 1.not sure what to do or what to write to them as they(CFO lending and Mr lender)won't accept my repayment offer

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Hi robo0708

Sorry about your breakdown,are you now fully recovered

Right-You say they will not accept your repayment offer.How did you send this to them.

Was it a budget sheet, and a letter,or email.,telling them your income and expenditure,and offered what was left. or on the phone.

Have you cancelled any CPAs at the bank.

If you are on benefits,i feel for now a token payment is all you could afford.

However if you feel you want to go down the misselling route,read this carefully,see what you think

As you say Quote

"Also they processed my loan without proper credit checks"End quote.

Affordability etc.

http://www.govanlc.com/PaydayLoanSurvivalGuide.pdf

Tawnyowl.

Edited by tawnyowl

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So sorry about your breakdown, I've just rooted out the email address and phone number of the O.F.T. hopefully they will be able to constructively advise/help on how to legalise an agreement therefore giving peace of mind. Also, if you have borrowed any money say from a friend or relative, get them to write a letter stating this, and this will be included in all your outgoings, keeping repayments to something manageable. They do need reporting to the O.F.T. for improper checks...it's the kind of complaint that helps close bad lenders down, if you are up to contacting them. Hope this helps.

 

For general enquiries and guidance on the work of OFT, phone 08457 22 44 99 begin_of_the_skype_highlighting numbers_button_skype_logo.png08457 22 44 99 FREE end_of_the_skype_highlighting or email enquiries@oft.gsi.gov.uk.

Edited by citizenB

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Daisy, I will start a new thread for you, so any responses do not get muddled on this particular thread. I will pop a link in a message to you and also post in on this thread.

Edited by citizenB

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Uploading documents to CAG ** Instructions **

 

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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

 

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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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

 

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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Friday, 20 December 2013 Govanhill success for GLC's Payday Loan Survival Guide as relaunched with Glasgow University's Student Representative Council

 

listen_en_uk.gif

PDLSGimage.JPGGovan Law Centre's (GLC) Payday Loan Survival Guide has been redesigned and relaunched with the support of Glasgow University's Student Representative Council (GUSRC). You can download the new GLC 'Breaking free from payday loan debt' leaflet here.

 

Working in partnership with GUSRC, we have also launched a separate Glasgow student version of the guide, which is available from GUSRC on Glasgow University's campus at the John McIntyre Building.

 

The guide has been used to help empower citizens to regain control of their finances and challenge unfair charges and interest whereever possible. Govanhill Law Centre (GhLC) solicitor, Rachel Moon, recently used the legal arguments in the guide to secure a fantastic outcome for a client in Glasgow's Govanhill.

RachelMoon.jpg GhLC's Rachel Moon, Solicitor GhLC's Rachel Moon said: "Wonga currently have an advert showing the 'real life' stories of people who use Wonga, however the stories do not correspond with our experience with this pay day loan company and others.

 

Our client was hospitalised and off work and as a result receiving only statutory sick pay. Our client took out pay day loans as she was struggling to maintain her court agreed rent payment arrangement. These loans were continually rolled over incurring the additional fees and costs in addition to the high rates of interest. The money was taken directly from her account leaving her with little or no money to buy food and other necessities and certainly no money to pay her rent.

 

We made a complaint on behalf of our client to the 23 pay day loan companies who had given her credit in a matter of minutes. This was on the basis that the companies had not undertaken proper creditworthy assessments under the Consumer Credit Act 1974, as they are required to do and that the loans should be written off as a result. We argued that it should have been apparent from the assessment carried out that the loan was not suitable or affordable for our client.

 

wonga_2384781b.jpg Payday loans aren't cuddly or cheap We have had some success and a number of the companies have confirmed that they will write off the debt in its entirety; other companies have advised that no further interest will be added to the outstanding amounts and would offer a settlement figure of capital alone. During this process, it was discovered that an administration fee was incurred when our client went through a broker website. When requested to do so, these have all been repaid within a number of days".

 

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