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    • @BazzaS No..  Just that I like to make new ideas work, but have yet to get good at making money out of them! The ideas have worked, and I am now on my sixth startup. I didn't consider contract law in the past though. I have learned my lesson!
    • thanks EB, for clear and concise advise. should i send it by recorded delivery to ensure receipt. i have been hovering about a little, pondering over the situation
    • What is that? Does it have a DSM-5 (or ICD-11) coding?
    • I have tried to track down a site manger but it appears the site has been sold again - London and Cambridge properties.  I have spoken to a local councillor Tony Robertson, he advised that the council are responsible for the CCTV cameras, and to contact the council switchboard. I have rang the switchboard and  spoke to a general operator who advised me to write in requesting the information. I will advise when I receive a reply. Of the three people that drive the car, there are two main drivers no-one has seen a ticket put on the car at any time.
    • @Pierre GA - The jargon behind DD 'guarantees' is, to my mind, mostly marketing. Direct Debits only serve to profit banks. The consumer does not benefit at all. It is far better to pay, via instant transfer from modern digital banks, than by an outdated Direct Debit scheme. Just think for a second.. Does one really want to hand over one's (in my case 'dubious') financial wealth to a third party computer? I would far rather transact and settle my bills myself; I think I should proffer the term 'Financial Zen.'  
  • Our picks

    • Future Comms issues. Read more at https://www.consumeractiongroup.co.uk/topic/416504-future-comms-issues/
      • 3 replies
    • This is a bit of a lengthy one but I’ll summerise best as possible.
       
      THIS IS HOW THE PHONECALL WENT 
       
      I was contacted by future comms by phone, they stated that they could beat any phone contract I have , (I am a limited company but just myself that needs a business phone and I am the only worker) 
      I told future comms my deal, £110 per month with a phone and a virtual landline, they confirmed that they could beat that, £90 per month with a phone , virtual landline  they also confirmed they would pay Vodafone (previous provider) the termination fee. As I am in business, naturally I was open to making a deal. So we proceeded. 
      Future comms then revealed that the contract would be with PLAN.COM and the airtime would be provided by 02, I instantly told them that this would break the deal as I have poor 02 signal in the house where I live as my partner is on 02 and constantly complaining about bad signal
      the salesman assured me he would send a signal booster box out with the phone so I would have perfect signal.
      so far so good.....
      i then explained this is the only mobile phone I use for business and pleasure, so therefore I didn’t want any disconnection time in the slightest between the switchover from Vodafone to 02
      the salesman then confirmed that the existing phone would only be disconnected once the new phone was switched on.
      so far so good....
      • 14 replies
    • A shocking story of domestic and economic abuse compounded by @BarclaysUKHelp ‏ bank complicity – coming soon @A_Gentle_Woman. Read more at https://www.consumeractiongroup.co.uk/topic/415737-a-shocking-story-of-domestic-and-economic-abuse-compounded-by-barclaysukhelp-%E2%80%8F-bank-complicity-%E2%80%93-coming-soon-a_gentle_woman/
      • 0 replies
    • The FSA has announced large fines against DB UK Bank Limited (trading as DB Mortgages) - DeutscheBank and also against Redstone for their unfair treatment of their customers.
      Please see the links below for summaries and full details from the FSA website.
      It is now completely clear that any arrears charges which exceed actual administrative costs are unfair and therefore unlawful.
      Furthemore, irresponsible lending practices are also unfair and unlawful.
      Additionally there are other unfair practices including unarranged counsellor visits - even if they have been attempted.
      You are entitled to refuse counsellor visits and not incur any charges.
      Any charges for counsellor visits must not seek to make profits. The cost of the visits must be passed on to you at cost price.
      We are hearing stories of people being charged for counsellor visits for which there is no evidence that they were even attempted.
      It is clear that some mortgage lenders are trying to cheat you out of your money.
      You should ascertain how much has been taken from you and claim it back. The chances of winning are better than 90%. It is highly likely that the lender will attempt to avoid court action and offer you back your money.
      However, you should ensure that you receive a proper rate of interest and this means that you should be seeking at least restitutionary damages - which would be much higher than the statutory 8%.
      Furthermore, you should assess whether the paying of demands for unlawful excessive charges has also out you further into arrears and if this has caused you further penalties in terms of extra interest or any other prejudice. This should be claimed as well.
      If excessive unlawful charges have resulted in your credit file being affected, then you should take this into account also when working out exactly what you want by way of remedy from the lender.
      You should consult others on these forums when considering any offer.
      You must not make any complaint through the Ombudsman. your time will be wasted, you will wait up to 2 yrs and there will be a minimal 8% award of interest and no account will be taken of any other damage you have suffered.
      You must make your complaint through the County Court for a rapid and effective remedy.

      http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/120.shtml
      http://www.fsa.gov.uk/pubs/final/redstone.pdf
      http://www.fsa.gov.uk/pubs/final/db_uk.pdf
       
      http://www.fsa.gov.uk/pages/consumerinformation/firmnews/2011/db_mortgages.shtml
      Do you have a mortage arears claim to make? Then post your story on the forum here
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Ariste Holding Limited, trading as Cash Genie, has entered into an agreement with the Financial Conduct Authority (FCA) to provide over £20 million of redress to more than 92,000 customers for unfair practices.

 

http://www.fca.org.uk/news/cash-genie-redress-unfair-practices


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The payday lender, Cash Genie, has been ordered to pay £20m to people they’ve ripped off. The lender was told by the Financial Conduct Authority (FCA) to dole out the money to more than 92,000 customers.

 

Turns out that they’re been ripping off customers in a number of ways, with Cash Genie charging fees which they were not entitled to, according to customer contracts. In some cases, they charged people who weren’t able to repay their loans £50 to transfer them to their own debt collection firm, Twyford Developments.

 

Basically, they were taking money needlessly from people who were already struggling with debt.

It transpires that Cash Genie were also rolling over and refinancing loans without customers’ consent, which of course, all means that people in financial hardship were being hit with extra interest and additional costs.

 

Cash Genie also traded as the online brands txtmecash and paydayiseveryday, with customers advised to go to these websites on the promise of a fresh loan. Then, when customers went to these sites, they were used to harvest banking information so they could take payments from existing loans without permission.

 

So, Cash Genie will reimburse some people and write-off the debts of others.

 

Linda Woodall of the FCA said: “We expect all firms to notify us of any unacceptable past or current practices and provide appropriate redress to anyone affected.”

 

What Do I Do Next If I Was A Cash Genie Customer?

For the time being, if you’ve been swindled by Cash Genie, you don’t need to do anything. Cash Genie is going to contact affected customers by 18th September.

 

There’s more info over at the Cash Genie website, if you think you’ve been affected. The FCA also have some information as well.

 

For the time being, sit tight and wait for Cash Genie to get in touch with you. Do not appoint a claims management company to sort this out either, as they’ll charge you for a service that you won’t need.

 

If you feel that it is important to talk to someone, you can contact the Cash Genie Customer Service team on 0333 366 0023, or email them at customerredress@cashgenie.co.uk or by letter at Cash Genie, 2 Reavell Place, Ipswich, Suffolk IP2 0ET.

 

If you’d prefer, you can get in touch with the FCA by calling 0800 111 6768 or 0300 500 8082, or email them at consumer.queries@fca.org.uk.

http://www.bitterwallet.com/cash-genie-to-pay-20m-for-ripping-off-borrowers/86917

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I'm surprised with the £20m figure it seems very high for a small company like this. I think Wonga which is much bigger made £80m profit in its best year.

 

According the competition commission readings (I'm not allowed to post links) Cash Genie made £1m profit in 2012 so this redress scheme must have pretty much wiped all their profits since their existence in 2009?

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No it wasn't that one but it was on a similar heading. This one was a summary of all the top 10 or so payday lenders and told you the revenues and profits for some of them.

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anybody know why they would 'voluntarily notified the FCA that it had engaged in unfair practices'

and why the FCA didn't know?

 

or were there loads of complaints that the FCA was not, or at least had not yet actioned?

 

Update

Jesus Wept :

Interest charged at a higher rate than what was stated in customer contracts, which was equal to 30% of the outstanding balance per month,


I express my honestly held opinions - they are nothing more or less than that.

... Its just doing some due diligence that makes them seem unusual ...

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I'm surprised with the £20m figure it seems very high for a small company like this. I think Wonga which is much bigger made £80m profit in its best year.

 

According the competition commission readings (I'm not allowed to post links) Cash Genie made £1m profit in 2012 so this redress scheme must have pretty much wiped all their profits since their existence in 2009?

 

It's not difficult [or unlawful] to move profits offshore, purchasing services, leasing equipment or engaging in credit control with group child companies is generally a good earner.

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Does that mean that any defaults registered by them should be removed.

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Cash Genie have sent 2 e mails saying I am due a redress of 472.88 and 108.71 both have been for not providing statements no mention of the fact that they kept rolling over my loans. Thankfully I have not had any dealings with them for nearly 2 years now.

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I'm only getting the template letter at the moment.

Although on the phone they have told me I am due for redress, but not the amount.

 

Also they said that no electronic payments will be made until after 10th August.

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I have received my redress today

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They refused me as my last PDL loan EVER was back in 2011 - so it is off to the FOS/FCA I go - they did this behaviour way way before 2013 so why can't they go back to 2011 - still within the Statute of Limitations period.

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They refused me as my last PDL loan EVER was back in 2011 - so it is off to the FOS/FCA I go - they did this behaviour way way before 2013 so why can't they go back to 2011 - still within the Statute of Limitations period.

 

Good luck

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i was offered under £10 redress, so i complained, and ended up getting back near £130... im a happy camper. i had paid near £360 on my loan!

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i was offered under £10 redress, so i complained, and ended up getting back near £130... im a happy camper. i had paid near £360 on my loan!

 

 

Hey - I have just been offered £12. What did you say to get them to pay you more?

 

Thanks :)

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I got extra as I complained that CG treated me unfairly by refusing to accept a small amount which was offered by PayPlan.

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I received a letter yesterday informing me that a cheque had been sent to a previous address and to confirm my details with the company. The letter was dated 17th September. I tried using the telephone number which is currently "not in service", their website is down and my email was returned as not delivered. :|. Just about to email FCA.

 

**Update** just contacted FCA. It appears CG have been sending out letters with incorrect contact details which the FCA "are aware of". Anyone trying to contact CG should use 0333 366 0023.

Edited by Crashed767
Update

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