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danstaa

Tooth fairy finace and black water please help me

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Hello,

 

as im sure were all aware and happy to hear about tooth fairy has finally been taken down. How ever i now have black water asking me for money they have contacted me 3 times once by text asking me to contact them, once by email saying i owe the £464 and then they phoned me last night saying they will clear the debt if i pay £314 within 28 day

 

now we all know how much they paid for the loans book and even stated i knew this information to the person on the phone how ever he dismissed what i said saying they still had to cover there over heads ect. and unfortunately £314 is the lowest they will accept and even if i spread that payment out over three months the total payment would reach over £600 i said this isn't acceptable

 

given what i no about the log book being brought for 7.5% im tempted to just say i will pay £50 and that is it as they still make a profit but scared about being brash as im not sure what there debt collectors may be like i did discus about paying £100 but he then said that he couldn't do that as my original loan was £200 and so i would be making money from toothfairy

 

please someone give me some advise as i do have mental health problems and finding this matter hard as there isnt much info about them or there powers as there where with tooth fairy

 

thanks in advance

 

Danstaa

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Until something is put in writing, ignore them. Theyve already lied by saying they have to cover 'overheads'. Overheads have NOTHING to do with debt. You pay what the debt was. Not fall for a blatant con by this outfit.

 

Im still of the opinion this new company is ran by the same people as toothfairy.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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I do wonder where this 7.5% has come from. The way i read it that only 7.5% was collectible. I.e Book worth 10000000 and only 75000 is collectible.

Now i am all for screwing the dcas but a balance has to be achieved.

I would ask how much did you borrow and how much have you paid back. Do not include any voluntary rollovers in that figure.


Any opinion I give is from personal experience .

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i borrowed £200 on 01.03.2013 and i have paid back £36 in total but to tooth fairy but black water is still counting that payment towards my debt

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You owe the following.

 

Original loan, plus original interest over the contracted period, minus anything you have already paid. Thats it.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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TBH on that figure and taking into account the pdl lending guidelines £300 is a fair amount but that should be over however long it takes you.

 

I am using the standard of loan +interest added to the two months interest the firms signed up to.

By the way if you can't afford it then pay them what you can and no more


Any opinion I give is from personal experience .

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Until something is put in writing, ignore them. Theyve already lied by saying they have to cover 'overheads'. Overheads have NOTHING to do with debt. You pay what the debt was. Not fall for a blatant con by this outfit.

 

Im still of the opinion this new company is ran by the same people as toothfairy.

 

"Overheads" mean the costs associated with chasing and collecting a debt. If you do not pay x amount for a certain amount of time and they have to employ staff to chase you, pay for contact information to be updated or for legal advice in regard to taking you to court then your balance will increase accordingly.

 

You can argue whether or not the charges are fair or reasonable, but they exist and are likely detailed in the terms and conditions of the original loan or available upon request.

 

You owe the following.

 

Original loan, plus original interest over the contracted period, minus anything you have already paid. Thats it.

 

No.

 

TBH on that figure and taking into account the pdl lending guidelines £300 is a fair amount but that should be over however long it takes you.

 

I am using the standard of loan +interest added to the two months interest the firms signed up to.

By the way if you can't afford it then pay them what you can and no more

 

This.

 

I'd advise against simply offering an arbitrarily low amount though, they may decide to pursue it through court or request evidence of your circumstances. Neither would be desirable if you are dishonest regarding the amount you can realistically afford.

 

Also, in regard to the 7.5% it's simply the percentage they estimate could be collected of the loan book. The debt which cannot be collected may be due to the age of the date, lack of contact information for the clients/difficulty in tracing and portions of it may even be outright unenforceable. This does not mean they will accept 7.5% of your balance.

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just an update

 

that £300 quote was only if i paid it in 28 days however i couldn't afford that so they say the total loan amount is something like £480 i cant remember the exact figure but have agreed to pay £20 for the next 6 months where they say they will then review the loan and aslong as i have kept up with the repayments they will discount the loan i am a bit skeptical if this is true or not but guess i will find out i think i have done the right thing just hope they will keep to there word

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before you pay a single penny to them, you want ALL interest and charges stopped and a fully itemised statement of account so you know what you are paying. If they refuse to stop interest and charges, then they can be in breach of OFT guidelines and also it owuld be pointless paying more than £1 a month.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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just an update

 

that £300 quote was only if i paid it in 28 days however i couldn't afford that so they say the total loan amount is something like £480 i cant remember the exact figure but have agreed to pay £20 for the next 6 months where they say they will then review the loan and aslong as i have kept up with the repayments they will discount the loan i am a bit skeptical if this is true or not but guess i will find out i think i have done the right thing just hope they will keep to there word

 

They usually only add an arbitrary time limit to prevent people saying things like "I want a payment plan that starts in June".

 

In regard to making £20 payments on the basis that they will clear an unspecified amount, it's usually best to get them to state exactly how much they will discount for keeping to the arrangement. Reviewing the arrangement can also sometimes mean they will threaten to fail it if payments don't increase after the set period, not a particularly nice tactic but one that is hard to fight against if you've agreed to it.

 

£20 over six months is also £120, if you think you can save ~£30 on top of that you could after this period offer to close for the £180 to make up £300? This would be a little devious on your part, but when making an offer like this it's usually best to claim a relative or friend is willing to lend you the money if (and only if) it would settle the account. If pressured to choose between £20 per month and £180 there and then most collections staff will simply take the £180 to save on hassle, and claiming the money is not your own will stop any questions regarding affordability of the £20 per month plan should they refuse.

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hi people,can someone please advise,i have sent copies of emails to ombudsman to make further complaint but,since toothfairy/webloan demise,i,ve had emails from ndr,then dhr capital,then blackwater and now dmr,what i want to know is why are all payment details,ie,reference no,s and bank account no,s the same this cannot be right,only one should be contacting ,and why are ndr still involved,these no,s are the same as webloans who i paid every month,also as you will be aware ombudsman ruled 700,they now saying 2400,im not paying untill i have proof,also iv,e asked ombudsman to get this written off, stressed again now ,thanks

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Theyre simply doing what they always do. They are trying to confuse youbso you give in and do what they want. I would get the fos to escalate to the ombudsman as this company clearly doesnt want to follow the rules.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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hi people,can someone please advise,i have sent copies of emails to ombudsman to make further complaint but,since toothfairy/webloan demise,i,ve had emails from ndr,then dhr capital,then blackwater and now dmr,what i want to know is why are all payment details,ie,reference no,s and bank account no,s the same this cannot be right,only one should be contacting ,and why are ndr still involved,these no,s are the same as webloans who i paid every month,also as you will be aware ombudsman ruled 700,they now saying 2400,im not paying untill i have proof,also iv,e asked ombudsman to get this written off, stressed again now ,thanks

 

I'd probably put this in your own thread with all the background history supplied.

 

Sounds dodgy, and posting it in someone else's thread will confuse things further as most readers will assume it is related to the OP's problem.

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