help absolute nightmare!!

[san67]

Hello,

 

I am about to default on several PAYDAY loans tomorrow.

 

I am really scared and dont know what to do.

 

I cancelled all CPA with my bank yesterday

 

but unfortunately 2 have been paid today with 7 to come out tomorrow.

 

Please help,

 

I know my next step is to contact the companies

 

but need advice/help on drafting a letter to them.

 

Really need some useful advice asap,

 

Many thanks

[dx100uk]

own thread created

 

can you list your PDL's please

 

dx

[san67]

Hello,Here is a list of all my PDL's: MR LENDER PAYDAY EXPRESS PEACHY UNCLE BUCK WONGA LENDING STREAM POUNDS TO POCKET PAYDAY UK SWIFT STERLING WAGE DAY ADVANCE

[renegadeimp]

The 2 that were paid. Were the cpas cancelled for them?

[san67]

Yes, I cancelled them yesterday at my bank and they came out today. I have rung the bank earlier and they said until they show up on my online statement they cant do anything about them. When I queried this with them stating that Wage Day Advance is on my statement, they siad this was a direct debit and so they cannot claim this payment back.When I asked why this didnot show up on my list of DD's they could not answer that either.Hope this makes sense.

[Desperate Daniella]

I don't know which bank you are with but it is wrong to say they can't get back direct debits if they are cancelled on the day. I think you should insist on speaking to a manager. You must insist they do not pay tomorrow's as well.

 

Don't be fobbed off by saying they can't cancel a CPA.

[Desperate Daniella]

What is the total outstanding?

[san67]

I am with the Halifax, but they dont deal with cancelling CPA's in the bank I was told yesterday, you have to ring an 0845 number which is a call centre in the Philippines

[san67]

Outstanding of today £6,000

[Desperate Daniella]

You said you cancelled them yesterday at the bank, but they have now told you that you must call the call centre in the Philippines? If the branch gave you the wrong information it is up to them to resolve this. You must insist on speaking to a manager.

[Desperate Daniella]

Can you list them one under the other with the amount outstanding for each of them.

 

How much money do you have to pay towards the £6,000?

 

You'll have to offer reduced payments, probably pro rata. One of the other people on CAG had reasonable responses from some of the PDL companies, but others were more difficult. At the end of the day they cannot take what you have not got, but it is vital to stop all the CPAs.

[renegadeimp]

Get on to the fca. Your bank MUST refund that money by law.

[san67]

Just been into bank they have said all cpas have been cancelled for payments due tomorrow but swift sterling today has showed up as a debit card payment so I have to ring the company and ask them to refund the payment to my bank, they have given me a fax number to give them, wth, have no faith in the bank at all now, I have transferred my remaining wages into another account but unfortunately with the same bank

[renegadeimp]

Get on to the fca. Halifax are wrong and are well known for doing this.

[Desperate Daniella]

You need to get this sorted out quickly as it has been known for some banks to take CPA payments from another account even when they have been cancelled.

 

I don't think Swift Sterling will give you your money back as they will say you gave them a CPA. If the debit card was used for a CPA and you cancelled it in time then the bank should not have paid it and you should insist it is refunded.

[renegadeimp]

See post #14. You NEED to contact the FCA and let them know what is going on. They are clamping down HARD on banks right now in regards to CPA's. But if you don't tell them, then they cant do anything to help.

[renegadeimp]

http://www.consumeractiongroup.co.uk/forum/showthread.php?395493-Been-refused-cpa-cancellation-since-nov-2009-Go-get-your-money-back-now!!

[san67]

Thank you for all of your advice, I really appreciate it, will let you know what happens tomorrow

[renegadeimp]

Make sure you dont take no for an answer. You dont have to go through the lender to cancel the CPA, it can and should be done through your bank. If they refuse, get the FCA involved.

[san67]

Will do, thank you so much for the excellent advice and the link to the consumer action fca page is very informative, I know I've got a very long rocky road ahead of me but bring it on

[Desperate Daniella]

You really can deal with this. You just have to be tough with the bank and the PDL companies.

[san67]

Well the proverbial has hit the fan this morning, I have have numerous missed calls, text messages and emails. I am going to start sending emails to them now explaining my financial position and requesting a payment plan. One of the threads I read said try and do all contact via email or letter, do not answer their calls. Would you say this is the right way to do it?

[Desperate Daniella]

Yes. Email them, and don't speak on the phone as many of them will try and bully you.

 

You should work out what you can realistically pay each one and put that forward as your proposal. Say it is all you can afford and if they argue tell them their option is to take it or leave it. They will know that there is actually very little they can do. They may make threats about taking you to court, but you can say that if they do that you expect a judge would actually make you pay less per month than you are offering at the moment.

 

Try and work it out pro rata so they all get roughly the same percentage of what is owing and ask them to freeze the interest.

[san67]

Thank you so much for your reply, really do appreciate being able to discuss this, as nobody else knows

[Desperate Daniella]

It's good you have been reading some of the other threads. There is one (sorry, can't remember which one) where the poster managed to get most of them to accept a payment plan with only one or two being difficult. If you can find that one you may get some info on which ones are going to be reasonable.