Payday Express

[letsgetitsorted]

I was due to pay my loan off on 31st October, however I was unable to do this but i did notify them not by one email but so far this week I have sent 4, all of which told them i was unable to pay, asked them to not add charges or interest and finally i would only deal with them in writing via letter or email. yesterday I was frustrated with them in their lack of response, that I told them to email me with their response within 7 days or i will take it they do not want me to clear the account and arrange a payment plan.Well this morning I received a response from them, and here it is......any advice would be helpfull many thanks in advance

 

Thank you for your recent contact and request for a repayment plan.

 

We understand that there are a number of reasons that someone may experience financial difficulties and we will deal with all cases of financial difficulty sympathy and positively in line with our Good Practice Customer Charter.

 

If you have unfortunately experienced a bereavement of a close family member that has resulted in a reduced income, or you have been diagnosed with a severe physical or mental illness or disability which prevents you working and has reduced your income, we will on receipt of evidence immediately provide you with a suitable repayment plan to best suit your needs.

 

If your circumstances have changed due to shorter term personal illness or an agreed absence from work then we can also help but we may require a copy of the doctor’s certificate, hospital letter or confirmation from your employers. So that we can determine how we may best assist you, and provide you with an affordable repayment plan, we request you complete and return details of your income and expenditure as shown below:

 

Income:

 

Monthly Salary Net Pay: £

Other Monthly Income (Benefits, Pension etc): £

 

Expenditure:

 

Rent/Mortgage: £

Council Tax: £

Utility Bills: £

Mobile Phone: £

Broadband/Satellite: £

Food/Housekeeping: £

Credit Card and/or other Loan payments (please advise names of creditors): £

Other Expenditure (please specify): £

On receipt of this information, we will assess the income and expenditure information you have provided and contact you shortly afterwards. In the meantime your account has been placed on hold for 10 calendar days whilst this information is being provided and assessed.

 

Please be mindful that a repayment plan does not vary or release you from the terms and conditions of the signed loan agreement. If you fail to comply with the terms of repayment plan we have the right to obtain payment of the full amount outstanding together with accrued interest and charges in accordance with the terms of your agreement with us.

 

If your account remains in arrears 120 days past the original due date, whether an agreed repayment plan is in existence or not, we may register a default on your records with credit reference agencies. This will have a negative effect on your credit rating and may prevent you obtaining credit in the future for, as example, mobile ‘phones, sky TV contracts or other credit facilities.

 

Our agents are here to help. If you have any queries or questions regarding this email or any other issue regarding your account then please contact our Financial Difficulties team by email to [email protected]. You can also call us on 0115 908 1163* between 9:00am – 5:30pm Monday to Friday to discuss your request or if you have any further queries.

 

We look forward to hearing from you.

[renegadeimp]

Hold up. They say they will 'assess' it?

 

Nope. That is your current situation. They either acept the proposal, or they get a quid a month. Simple as that.

[letsgetitsorted]

Hi Renegadeimp, many thanks for your response

Am i right in thinking i do not need to send them anything apart from a brief I&E. and that i dont have to give details of creditors,

cheers lets

[renegadeimp]

Its entirely up to you, but we advise a simple budget summary for PDL's. For a small loan of £100 or so, they have no need for a detailed summary.

[letsgetitsorted]

If your account remains in arrears 120 days past the original due date, whether an agreed repayment plan is in existence or not, we may register a default on your records with credit reference agencies.

Can Payday Express do this, if a repayment plan is in force and the account is being paid off.

[renegadeimp]

They should exercise forbearance, but these are PDL's and they don't know the concept. They use it as a threat to get the debtor to do what they want.

[letsgetitsorted]

Here is my response to payday Express, any comments or suggestions are more than welcome, thnak you for reading this thread

 

 

Dear Kelly

Many thanks for your response, my response to your Email is highlighted in red at each of your comments.

i look forward to your timely response.

yours faithfully

 

 

 

Dear

 

Thank you for your recent contact and request for a repayment plan.

 

We understand that there are a number of reasons that someone may experience financial difficulties and we will deal with all cases of financial difficulty sympathy and positively in line with our Good Practice Customer Charter. Thank you, however it has taken almost a week for you to contact me following on from my initial email, of which some my points have not been addressed.

 

If you have unfortunately experienced a bereavement of a close family member that has resulted in a reduced income, or you have been diagnosed with a severe physical or mental illness or disability which prevents you working and has reduced your income, we will on receipt of evidence immediately provide you with a suitable repayment plan to best suit your needs. All you need to know is that my income has dropped, I do not need to provide you or anyone at your company any proof the reasons why especially for the reasons you have listed above.

 

If your circumstances have changed due to shorter term personal illness or an agreed absence from work then we can also help but we may require a copy of the doctor’s certificate,. hospital letter You have no right to see any medical evidence of any kind or confirmation from your employers. Again this loan is for me to deal with and any contact with my employers will breach data protection and also cause me embarrassment, not only that it will also lead to disciplinary action against me. So that we can determine how we may best assist you, and provide you with an affordable repayment plan, we request you complete and return details of your income and expenditure as shown below: This will be a brief breakdown and not a complete one as you have no right to see who I pay what, not only that only a court can order an Income and expenditure breakdown.

 

Income:

 

Monthly Salary Net Pay:

Other Monthly Income (Benefits, Pension etc): £0

 

Expenditure:

 

Rent/Mortgage:

Council Tax:

Utility Bills: breif details supplied

Mobile Phone:

Broadband/Satellite:

Food/Housekeeping:

Credit Card and/or other Loan payments (please advise names of creditors)you have no right to this information:

Other Expenditure (please specify): car expenses, fuel, insurance, tax

On receipt of this information, we will assess the income and expenditure information you have provided and contact you shortly afterwards. In the meantime your account has been placed on hold for 10 calendar day, I am afraid to say it does not look as if the account has been placed on hold, so far, since receiving your email I have had 4 text messages, 2 phone calls and interest is still being charged, so I beg to differ that the account is on hold. whilst this information is being provided and assessed. As you can see all I have left to pay this account off is £13 per month and that is all I can pay, I cannot pay any more than that so please do not ask for any more than this because you will not get it.

 

Please be mindful that a repayment plan does not vary or release you from the terms and conditions of the signed loan agreement. If you fail to comply with the terms of repayment plan. Once a payment plan that I can maintain has been set up and agreed this will be paid by standing order only, you will not be given any direct debit information. If paying by standing order is not your method of payment then I will send in postal orders the day I get paid and via recorded delivery post, this of course will incur further charges for me and of which will have to come of the balance of the account, under no circumstances will I give Payday Express my bank or card details. we have the right to obtain payment of the full amount outstanding together with accrued interest The only interest that will be paid is the amount borrow + 1 months interest. Any other amounts Payday Express are claiming will not be paid. and charges in accordance with the terms of your agreement with us. This will disadvantage me and will not help me in any way to pay of the debt.

 

If your account remains in arrears 120 days past the original due date I will not be able to clear this account within 120 days, whether an agreed repayment plan is in existence or not, Whilst we may register a default I believe this to be a threat, I am willing to pay the account off, and whilst payments are being made I think you will find a default cannot be registered with a credit reference agency, and if it is, this will be false information and of which will lead to a complaint being made to the agencies and also to the Information Commissionaire Office. and will be on your records with credit reference agencies. This will have a negative effect on your credit rating and may prevent you obtaining credit in the future for, as example, mobile ‘phones, sky TV contracts or other credit facilities.

 

Our agents are here to help. If you have any queries or questions regarding this email or any other issue regarding your account then please contact our Financial Difficulties team by email to [email protected]. You can also call us on 0115 908 1163 I will only deal with this matter by way of email or letter I WILL NOT talk to anyone over the phone about this account. between 9:00am – 5:30pm Monday to Friday to discuss your request or if you have any further queries.

 

We look forward to hearing from you.

 

Yours sincerely

 

Payday Express, Collections Support

 

*call charges may apply depending on your telephone provider.

 

 

 

DFC Online

4th Floor, Northside House

69 Tweedy Road

Bromley

Kent

BR1 3WA

 

T: 0115 908 1163

[renegadeimp]

Did you ensure you included an entertainment/socialising amount on your I&E? Normally 1/3 of the remaining amount after all PRIORITY bills are paid?

[letsgetitsorted]

i knew there was something i missed, does the rest look ok

many thanks for taking the time to look Renegadeimp

[fletch70]

I am sorry to say but looking at the ICO guidance on defaults they are perfectly within their rights to register a default

 

The definition of a default

9 A ‘default’ can be said to occur as soon as a borrower fails to meet the

terms of their credit arrangement. However, adopting this definition for

credit referencing purposes would create difficulties since it is accepted

that not all these defaults should be reported, for example, where weekly

payments are late but are quickly remedied.

The term ‘default’, when recorded on a credit reference file should be

used to refer to a situation when “the lender in a standard business

relationship with the individual decides the relationship has broken

down”2

.

Where there is an unresolved dispute about whether a default exists,

lenders should refer to paragraphs 42 -45.

10 Indicators of a default

The following indicate that a breakdown has occurred in most types of

product (excluding those in the section on Exceptions at paragraphs 12-

15). This list is not necessarily exhaustive.

 The account has been referred to a collection agency or in-house

debt collection department.

 The account has been referred for legal action.

 The account has been included in a bankruptcy, IVA, or similar.

 The asset financed has been repossessed or instructions for

repossession have been given.

 The lender takes or has taken steps to cut off the service provided (or

would do so if they were not prevented on social rather than

commercial grounds or by other regulations, codes of practice or

statute).

 The customer has not made satisfactory proposals in response to a

demand for repayment.

2

 

I sometimes wonder if it is initially worth getting confrontational with some payday loan companies. I am not saying roll over but just provide what you want to provide.

Remember that the loan is yours so any other income that comes into the house is irrelevant at this point and the CFS values are reasonably generous, certainly far more than I ever have available. As part of the OFT guidance on debt collection it states they must take the CFS into consideration.

 

So a basic

Income

Rent/Mortgage

Council Tax

Food&Clothing

Travel

Other

Priority Debts

 

should be more than enough.

 

I know I sometimes say play it differently, say minicredit I would just give them both barrels but the last thing you need is to get into letter ping pong.

If on a simple offer like that they refuse then make a formal complaint so you can escalate it

Edited November 6, 2013 by fletch70

[renegadeimp]

Very true Flethc. The sad thing is that the OFT says that the creditor should exercise restraint, but for some reason wont make it part of the regulation and keeps it as guidance. The PDL's know this and pretty much ignore it, as its simple guidance.

[fletch70]

Did you ensure you included an entertainment/socialising amount on your I&E? Normally 1/3 of the remaining amount after all PRIORITY bills are paid?

 

I am interested, where in the CFS does it suggest that amount?

[fletch70]

Very true Flethc. The sad thing is that the OFT says that the creditor should exercise restraint, but for some reason wont make it part of the regulation and keeps it as guidance. The PDL's know this and pretty much ignore it, as its simple guidance.

 

I don't think the OFT have the power to do that but come next april the FCA will have

[renegadeimp]

I think the entertainment/socialising bit was in a court case a while ago. The judge said that every debtor is entitled to some kind of social life each week, and should not hand over every single penny after priority debts are sorted, to various creditors. In effect, he's sayign people should still have the ability to go out once a week, be it to a cinema or restaurant with the family or friends, and not sit at home, moping around in front of the tv because you are forced to.

[fletch70]

Don't misunderstand me, there are plenty of non priority expenses that are allowed, internet, TV, stuff like that and also from memory a figure for entertainment but it has to be reasonable and appropriate . It was the amount that I was questioning, 33% after priority bills, that could be one hell of a lot of money

[renegadeimp]

It wouldnt be that much money for those who are struggling so bad that they need to send an I&E to their creditor. If it was 33% of a huge surplus, then there would be no need for an I&E as the debtor could simply make a sizeable repayment.

[letsgetitsorted]

in my case after doing I&E i didn't actually think about the socializing bit, but still can just manage about £13 a month to thes peeps.

 

many thanks for everyone's input so far

 

cheers

Lets

[letsgetitsorted]

Well i sent the email to them earlier and this was their response, basically they say i need to pay the whole balance by the 13th not even looking at a repayment plan.

 

Dear

 

Ref: Outstanding Loan ID 1xxxxxx

 

Thank you for your commitment to repay the above mentioned loan. Please find below the details of the arrangement that has been scheduled.

 

Date Due Amount Status

 

13/11/2013 £xxx.xx Outstanding

 

 

**Please be aware, if you are making your payment via Standing Order, please ensure that you make your payment at least 10 days prior to the dates shown above.

 

You may find it easier to manage your account online by using the following link https://applications.paydayexpress.co.uk/AccountManagement/a/Login however if there are any changes in your financial circumstances and you prefer to call then please ring us on 0115 908 1162* where one of our advisors will be happy to help.

 

Our arrears department is open between 08:00-21:00 Monday to Friday or 09:00-16:00 Saturday. Further action may be taken to recover the full balance if you fail to maintain payments in accordance with the above arrangement.

 

Regards,

 

Collections Department

[fletch70]

I take it all back

 

Now send them a letter headed Formal Complaint

List your issues

1) Refusal to accept your affordable offer

2) Their refusal to follow the OFT guidelines on debt collection OFT664(rev)

3) Their telephone harassment (if they are)

4) You will only communicate in writing (not email)

5) You have had to relook at your finances and the offer is sadly now £5 per month

6) As per guidelines would they please cease applying interest and charges

 

 

If you need the guidelines here is a link http://www.oft.gov.uk/shared_oft/consultations/OFT664Rev_Debt_collection_g1.pdf

 

the most up to date version

[letsgetitsorted]

many thanks for the Guidelines and the help, i will now wait and see what i get from them now, although today i have not received 1 txt or call.

[fletch70]

Good luck , mind you the day is still young

[der11uk]

I would watch that they don't take the full amount out of your account anyway as they use CPA. I set up a repayment plan with them earlier this year , after receiving the same reply as you did and due to their computer system not recognising bank holidays( yes!) , I "missed" a payment. My bank had paid it out on the Tuesday but they decided they would take an extra two payments adding 25 pounds on for no apparent reason!! They had the cheek to ask me if I wanted to use that money to pay towards the debt when I phoned to get it back!!!

[letsgetitsorted]

i trust you managed to get your payment back....i have told them that i will only be paying via standing order at this will be the first of the month failing that by postal order minus all the fees it takes to get and send one....just waiting to hear back now....although i have not had a text or call today...

[dickturpinn]

Payday Express is the worst PDL company I have ever came across when you try to set up payment plan I think they stall you as they TRY to add charges daily and constantly phone you (I am talking 15-20 times daily)

 

After eventually setting up a 7 month payment plan on 2 occasions they took double payments out my bank and I had to tell them to return the funds and on both occasions they asked if I wanted to settle it against my balance

 

Now after paying off loan 3 months ago I got 2 calls last week about my outstanding balance then when I went through security check they told me "I am sorry" your loan is paid up

 

I have now told them if they phone me I will be contacting my M.P.

 

Bunch of jokers

[renegadeimp]

I am talking 15-20 times daily)

 

You know you can take legal action for that, and you are very likely to win.

 

See harrison v Ford.