PEACHY LOANS - Bit of advice please.

[Discodevil]

Hi,

 

So I've thankfully managed to pay off most of my Payday Loans.

 

Had a bit of an issue this month with a flood at home so all of my income went to sorting that out and I'm now awaiting insurance money (Should be latest next week). I cancelled CPA from remaining lenders also.

 

The last lenders I owe to are 24/7 & Peachy.

 

24/7 were kind enough to freeze interest etc. Until next Friday at which time I will pay off the remainder.

 

PEACHY on the other hand flatly refused to freeze anything, Offered a rollover and said that the loan of 500 which with 150 interest and charges currently stands at 685 - Which I have said I would pay next week in full will be 790 and I will need to pay this amount next week.

 

Any ideas.

 

DD.

[renegadeimp]

You need to cancel the CPA with your bank as well as the lenders.

 

Regarding what you pay, check the library on this site for some letters. If they refuse to acknowledge your financial circumstances then you drop them to £1 a month until such a time as they listen. The interest they add on is challenge-able as your agreement only states the loan is active for a set period of time. All their charges can be checked and are very likely unenforceable as they are penalty charges.

[Saffa49]

Trust me Peachy are horrible to deal with and I raised a complaint after adding on nearly £600 charges eventually had to take to FOS and then Ombudsman found in my favour.

[SabreSheep]

And those charges, maybe they can be reclaimed as well.