Payday mess - Minicredit and Unclebuck

[byedebt]

Hi,

Due to the demands of Christmas I stupidly took out two payday loans one with Minicredit and the other for Unclebuck. Both are due next week but there is no way I can afford to pay them back in full. I owe m.c. approx £300 and u.b. approx £200, I will offer them a reasonable repayment amount tomorrow via email. I have cancelled my debit card and instructed my bank to cancel the CPA on both. However I am terrified of the extortionate amount both of these lenders seem to add to loans if they default (reading other posts). I have learnt my lesson and just want to repay both but I expect these loans to escalate to huge amounts over time. Can anybody advise please on how to deal with these companies??

Thank you

[renegadeimp]

They can add on whatever they like. Doesnt mean you are going to pay it.

[byedebt]

If they add on excessive amounts which I expect them to do is the right procedure complaining to them initially by recorded post or going straight to the fos with my complaint?

[renegadeimp]

You have to exhaust the lenders complaints procedure before the FOS will even think of getting involved. This normally takes around 8 weeks. The FOS CAN jump in before, but only in very serious circumstances.

[manontheweb]

The advise I would give is to get another bank account as soon as possible, and have your wages paid into that, because it's possible they will still be able to take the money out of your account, and yes people will say that you can claim it back but that is extra hassle if you need the money to pay bills and will just make things worse. Once your money is safe then never give your card details out again and ask the loan companies for the account details so that you can pay them directly

[PDL idiot]

Hi welcome to the forum.

 

First of all calm down stop panicking. A lot of people including me have been in worse situations than you right now with PDL so this is actually quite straight forward.

 

Phone your bank to double check all CPA and any pending transactions are CANCELLED and VOID as in you have to phone to deactivate them. DO NOT PAY THESE PEOPLE BY YOUR DEBIT CARD.

 

Ask for bank details and wire it with your customer number.

 

Offer them the original loan amount + interest for the time period that was agreed on and that you will not be paying default fees. There is a lot of writing material and templates on here that can help you with that.

 

Mini off set their payment plans to a outside company whom I pay back ATM and they are fine, yet I havnt missed a payment to them either so I havnt had cause to speak to them.

 

I've never dealt with uncle buck so not sure how difficult you will find that, but stick to your guns and don't speak to these people on the phone.

 

Make sure you send a financial assessment form like in the template guide, make it so you have spare cash and what you want to pay. They can't refuse if you send this. You're in a better position than you think!

 

Good luck. Let us know how it goes.

[byedebt]

Thanks for your assistance, I will keep you updated. Nervous about the next few days as the loans are due.Hope it all works out.

[byedebt]

Just an update on my current payday issues. Unclebuck have emailed me a number of times and I have replied so it looks like we will come to an agreement soon regarding my repayment offer. They supplied me with their bank details and I have made my first repayment. Minicredit however have totally ignored all my emails which I have sent everyday to them - (coll ections @ mini credit.com). As expected they keep adding charges on daily which has me very concerned as I can see the loan increasing to a substantial sum all I want is to pay them back. Can someone advise me please should I keep emailing them daily or has the time come to write a letter of complaint to them?on their site they offer payment via ukash. I am thinking about making a repayment via this method to show I am proactive in trying to resolve my debt issues in case it goes to court.

[renegadeimp]

ignore the charges minimuppets try and add on. THey are one of the lowest forms of PDL there is. Only ever make a payment by standing order so you have a trackable method of payment.

 

If they refuse to give bank details, then its time to use the postal order method.

[byedebt]

Thank you for your advice, I will try the postal order method. Should I send the repayment amount I am offering to their registered address? also should I keep emailing them everyday or post a complaint to them?

[renegadeimp]

Their registered address is a mail redirection centre. Their actual address ( likely to be some loan sharks house) is hidden.

[fletch70]

Personally i wouldn't even entertain sending any money until they answer you and provide bank details. Put the cash to one side. At some point it will get passed to their DCA.

Make a formal complaint and wait until they reply. If you find the CCL. the oft register may give you a head office address.

[fletch70]

Have a look at their complaints procedure on the website.

 

Email is [email protected]

 

It also says put it in writing

 

I would send a letter by email and copy it to the postal address, at the same time tell them that you will only communicate in writing