Payday nightmare begins

[HULLCITYMASSIVE]

Hi all

 

I have several payday loans totalling 3500. I like many have reached the point where I can no longer carry on with roll overs etc. trawling though this site I have picked up many ideas and tips on how to start things off.

 

Firstly I rang my bank today and asked to cancel all the cpa's on my account. They advised me that none were set up and all previous payments to payday companies had been classed as one offs! This seemed a bit strange to me, but I bank with Santander and they are supposed to be one of he more reputable, so I have no reason to doubt what they say. Never the less, I rang back and reported my card as lost, and double checked with the advisor that no payments could be processed using the "lost" card, and he confirmed this. Does anyone know if this is 100 per correct? Sorry to be paranoid but have read some horror stories on here!

 

I am in the process of constructing of my initial email to the companies, using bits and pieces of other peoples letters off this site (cheers guys).

 

Obviously all of these pay day companies are going to initially reject my repayment proposal (all over a ten month period), and the days/weeks of backwards and forwards emails, my next question is in relation to the interest. I have read that some companies, for example mr lender, keep adding interest, and the amounts can get really out of hand! Now I read a lot of posts, saying this is unlawful, unfair etc but what can you do, and I mean really do, not just report them? After reading a lot, and I mean a lot of threads on here, no one ever seems to really post the outcome! Indeed a lot of threads seem to stop with out a conclusion!

 

Obviously I am extremely worried about my situation, and although I keep saying to myself this will all be over eventually, it still doesn't stop me worrying now! If anyone could answer my queries it might ease my mind a little! No doubt I am gonna be on here a lot in the next few weeks, and am hoping to find some kind souls to offer help, support and advice!

 

Off to do my email now, wish me luck

[renegadeimp]

Ignore santander. They are well known for ignoring the regulations regardibg cpas

[HULLCITYMASSIVE]

Well, will the cancelling of the debit card stop them??

[renegadeimp]

Nope. You need to get the CPA stopped, or even better DEMAND your bank cancels any and all payments to them.

[HULLCITYMASSIVE]

But I rang them and they said there was nothing to cancel. They didn't refuse to cancel, just said there was nothing to cancel. Surely, unless the bank are outright lying to me, there is nothing to cancel, so even if I rang tomorrow I will just get told the same! Also I double checked with the guy who cancelled my card and he said no payments could be taken using that card!!! I don't see what more I could do!!

[renegadeimp]

Theres your problem. You rang them and spoke to a rep that only reads from a computer screen. You need to put it in writing and get them to confirm. Santander are well known for doing this and you need to make sure you dont give them any room to breathe.

[HULLCITYMASSIVE]

Ok cheers, will try an email tomorrow, one loan due tomorrow but rest not whole Monday, so no point in posting anything, won't get there in time!!

[citizenB]

You must put your instructions to the bank in writing - this will protect you if they allow any payments to be taken. If payments are made after your instructions not to, then the bank is obliged to refund immediately.

 

Below are the PDL survival guide and some instructions for making a complaint to the FOS if you find yourself struggling with the PDL companies.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?396982-New-payday-loan-survival-guide-by-mike-dailly-govan-law-centre.(1-Viewing)-nbsp

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?399260-Feel-that-you-ve-been-treated-unfairly-by-your-Payday-loan-lender-COMPLAIN-TO-THE-FOS!!

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?395493-Been-refused-cpa-cancellation-since-nov-2009-Go-get-your-money-back-now!!(2-Viewing)-nbsp

[HULLCITYMASSIVE]

Brilliant, citizen, thanks. Do you think an email will suffice? Obviously fingers crossed that my loan doesn't go out tomorrow, and even if I posted a letter first class, when they receive it on Monday the other loans would be due!!

[citizenB]

Yes, an email should be acceptable

 

If you have a read receipt facility on your email programme, then click on that so you know they have received it.

[HULLCITYMASSIVE]

Ok thanks for your advice! Will post if anything gets taken or not! I read a lot of threads and people just seem to stop posting and we don't see any outcomes!! Then let the barrage of emails commence!!!

[citizenB]

Ok thanks for your advice! Will post if anything gets taken or not! I read a lot of threads and people just seem to stop posting and we don't see any outcomes!! Then let the barrage of emails commence!!!

 

Yes, it is very frustrating when threads are not updated

[HULLCITYMASSIVE]

Quick update, two loans were actually due today but both payments were declined and no money taken, which is a bit of a relief, but still got Monday (d day) to come! I did however still email santander and confirm in writing that I wished to cancel all cpa's and would demand an immediate refund if any payments were processed, and would lodge a formal complaint, so fingers crossed that should be that!

 

Having sent my initial emails to all creditors, only the one had rung so far (mr lender), as I am not at work today I decided to answer the phone, but instructed the advisor at the other end that I would not be able to do this again as I would be at work, and under no circumstances to ring my place of employment, or my mobile during working hours, as I am unable to take personal calls and this could lead to termination of my employment, they said they would comply with this and a note had been placed on my account!

 

The advisor explained that my card had been declined, and I explained the situation and informed em I had sent an email yesterday. They said they could set up a repayment plan with all interest and charges being frozen if I could make a payment of £142 first. I explained I couldn't make that payment this month, and they said it would remain with the collections team. All very poite.

 

I have emailed their collections team and asked them to clarify in writing exactly what they want me to pay and what the repayments would be, and also to clarify that all interest and charges would be stopped. Not an ideal scenario with the £142, but I may be able to borrow a little at the end of next month off family if it gets a definite repayment plans in place! I would want this all in writing first though, so let's see what they come back with.

 

Next is wonga on Sunday, then the rest on Monday! Will keep this thread updated

[renegadeimp]

I would yave demanded that mr lender email you concirmatio .

[HULLCITYMASSIVE]

Hi anyone who's there

 

Just an update. Mr lender emailed me later yesterday, no further phone calls by he way, but one text, and offered me a repayment plan. This was over 6 months which was a little bit quicker and obviously the amounts were a little higher than I wanted, but they agreed to add no charges or interest. So I suppose in this situation a little give and take may be the way to go! I asked them to put in writing that this would then settle the account in full, and outline all the dates payments are due, and also confirm that no interest or charges would be added. I also asked for their bank details so I could pay them as I was not willing to supply debit card details. They have done all this, so I am happy to proceed with their plan. I have read some bad things about mr lender on here, but to be fair to them, I had an acceptable repayment plan in place by the end of the day the loan was due, they were nice and polite, so can't really say anything bad.

 

I also received a response to my initial email from another lender, swift sterling, who's loan isn't due until Monday (30th), and they accepted my proposal straight away (over 8 months), at the amount I requested, again stating in writing that they will add no further interest/charges, and supplying me with their bank details, also agreeing to the initial payment being at the end of October! Not even one attempt at a phone call, or demanding email. Very surprised but happy and relieved.

 

It just makes you wonder why all payday companies cannot adopt the same attitude as these two companies!

 

So, two down three to go! Payday express,mini credit and wonga! Payday express and mini credit have both had my initial email and I have had nothing back, but loans are not due until Monday! So no doubt the "fun" will start then! I am going to fill in wongas repayment plan forms shortly!

 

As always will keep updating!

 

I'm off now to watch the mighty hull city smash west ham to bits!!

[renegadeimp]

Minicredit will have you pulling your hair out. Just be firm, take no crap from them and dont give them any leeway to move.

[HULLCITYMASSIVE]

Cheers, I am expecting the worst because I have had two fairly easy ones! But the less companies who are causing you sleepless nights the better I suppose! And three is better than five! Will keep you updated!

[citizenB]

I imagine they will likely "test drive" your bank account to see if they can take anything out.. apparently they ask for small amounts to see if money is available - if so they then take more.

 

However, as you have advised your bank these companies no longer have your permission to access your account, if they do succeed, your bank MUST repay you.

 

Please keep us informed and well done with getting the repayment plans with the others

[HULLCITYMASSIVE]

Hi anyone!

 

Further update, not much really. Minicredit, payday express and wonga all never replied to my initial email at first. I received a couple of texts and emails from all three said they would add charges etc, only a couple of automated phone calls from wonga, which I ignored the first one but answered the second through curiosity, however it was just a bionic woman not a real person soi hung up. Not really too much harassment, so can't complain on that front.

 

Today both payday express and wonga have replied to my initial email asking me to complete income and expenditure forms! I have completed the payday express forms and sent it back but have heard nothing yet. Wonga advised me that due to my financial situation they would freeze all interest and charges for approximately 40 days and await my completed forms. As there forms looks a little more extensive than pay days, I will fill these in during the next day or two. They did say I had 30 odds days to do this, and they did take 3 days to come back to my email so I think that's fair enough from me! I do have other things to do in my life!

 

Still nothing from minicredit though, apart from a couple of texts stating they will add £20 to the amount owed on due date and also on the 4th. I have resent my email but nothing! As I seem to be making progress with the other two, think If minicredit don't respond to my email, I will try and sort wonga and payday before I take this any further! Again, not putting them off but I do work full time and have two kids and they haven't even the good grace to respond to my emails, why should I rush!,

 

Just one last note, no money has left my account, and all my regular bills have been paid! Phew! So it would seem what I did (see previous posts) worked.

 

Will keep this thread updated.

[renegadeimp]

With wongas forms, if it asks for creditor names, dont fill it in. All you need do is to put

 

"creditor 1 - Loan"

"creditor 2 - credit card"

etc, etc.

 

Also to secure your bill money, look into a letter of appropriation.

Edited October 2, 2013 by citizenB

[HULLCITYMASSIVE]

Thanks for the advice renegade, anything I can pick up from other people is very very much appreciated.

[sequenci]

It is standard practice to disclose who your creditors are, and how much you owe them - this demonstrates to the creditor that your offer is fair and reasonable. If you wish not to do this please do not be offended if a lender refuses your offer of payment.

[renegadeimp]

The reason i mentioned it seq, is that wonga have been known to want a Fully comprehensive I&E. Even for a £100 loan.

[sequenci]

The reason i mentioned it seq, is that wonga have been known to want a Fully comprehensive I&E. Even for a £100 loan.

 

And they would be absolutely right to request it.

 

Transparency needs to work both ways for sure.

[citizenB]

And they would be absolutely right to request it.

 

Transparency needs to work both ways for sure.

 

To a certain degree, I would agree with you, Sequenci.. however, had Wonga done it's credit checks in the first place, then they would be aware of any other creditors that were also requiring payment.