I have a repayment plan but payday express are referring it to a debt collector!

[Eitha22]

I have had a repayment plan in place with payday express. I have paid every single month without fail. It was for three outstanding loans. The total amount now owed is £220.

 

They told me they would take the monthly payment amount and spread it over the three loans.

 

However, about a month ago they started harassing me with 'escalation'. Perplexed, I mailed them - no reply. I checked my account and they have only taken the repayment amount off 1 loan mostly and have recorded a default on the other two even though I have it in writing that they would spread my repayment across all three loans.

 

I have now mailed 6 times - got 'read receipts' for all of them. I sent a recorded 'signed for' delivery lodging a formal complaint last week.

 

I've now just received a mail saying they have referred my account to a debt collecting agency. What the hell else can I do here?

[renegadeimp]

Can you post the letter they sent you confirming that they would apply it to all loans. If they had applied it to all loans, would some of those loans have been paid off BEFORE the date that they recorded the default? Approx how long was there between the actual date of your last payment to those loans and the date of record default

[fletch70]

I am afraid in my opinion they can both default you and pass your account to a DCA after all it is a debt. However when the DCA contact you I would write to tell them that you are in a repayment plan with PDE.

 

Have they assigned (sold) the debt or are the DCA acting on their behalf?

[Eitha22]

Hello renegadeimp - it was an email not a letter. They simply sent me a repayment schedule that showed the monthly amount spread over the three loans - it was done in a ratio so that each loan had the same percentage paid off, so no, none of the loans would have been paid off before the default day (18/0702013). I understand they can record a default regardless of a repayment plan, that's not really my isssue as Wonga have done the same, it's the fact they are sending it to a debt collector and saying I have not responded to any contact!

[renegadeimp]

Thats PDE for you. Remember, youa re dealing with legal loan sharks. They will do anything to get money from you. Including threatening and then proceeding to destroy your credit file.

[fletch70]

Remember , these are only DCA's and unless the debt has been sold they can not do anything. Who is the DCA, hope its not motormile . Many of my debts have been passed around, even when I was paying them.

 

I know what I would do now they have defaulted you , I would stop paying and maybe save that money to build up a little warchest so you could maybe pay off that £200 with £50 in a few months