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Hi there,

 

just looking for abit of advice here,

i have no idea why i didn't know anything about this at the time/how i didnt clock on or what have you but the following is this -

 

in 2011-2012 ish i took out the following loans with TXTLoan (now MyJar) which all paid back as you can see which is attached to this post .

 

Confuses me here,

the dates of when the loans were paid and taken out seem to be weird and it doesn't add up,

i kept paying them back more than i ever borrowed in such short space of time,

i.e £51 interest over a day?!

 

 

in one case i apparently seem to have paid £196.20p in a few days interest alone!

 

 

in total it seems i have paid out £1,896 from a total of £1,400 over the course of 6 months, that's alot of interest.

 

Looking back in my emails / bank statements,

all i have are correspondence from the very date i first took out the loan with txtloan (26th July 2011) till the last payment was taken,

 

 

then in 2012/2013/2015 i had threatening emails trying to get me to pay,

there were no further loans from txtloan after i repaid £496.

 

this email in particular i find amusing

 

 

Your account with TxtLoan Limited will be assigned.

 

You have an outstanding loan with TxtLoan limited, details of which are as follows:

Loan reference number .......

Customer number ....

Your loan agreement date 25/07/2011

Date your took your loan 03/01/2012

Date repayment was due 18/01/2012

Amount borrowed £300

Amount now outstanding £692.5

 

As you are not making any repayments to your outstanding loan and in accordance with the loan agreement between us, TxtLoan has decided to assign the account to MYJAR Ltd.

 

 

The contact information for the company is:

 

Address PO Box 609, Salford, M5 0HD

Phone 0203 371 3080

 

The assignment is due to be completed on 28/2/15. MYJAR Limited, will then own the debt and all money due by you under this loan agreement, will be owed to them.

MYJAR is authorised and regulated by the Financial Conduct Authority with interim permission number 658236.

 

You will shortly be hearing from MYJAR and we would urge you to work with them to agree repayment of the sum that you owe.

 

If you are in financial difficulty, please see the information on the attached sheet about where you can get free, independent debt advice.

 

Yours sincerely,

TxtLoan Limited

 

 

how does one loan go from £300 to £692 within 15 days?

not to mention the fact that it looks like they already took a payment of £496 in January!

 

they defaulted me in April 2012 which still exists on my credit file and it had affected my ability to get credit and eventually spiralled me into another payday loan hell circle in 2013 as i was unable to gain any affordable credit (another story i guess)

 

a few things this looks to me like is

1. unaffordable lending to the extreme

2. unfair default charges

3. extortionate interest rates

4. taking money without me apparently realising (not sure if this is one?)

 

i've lodged a complaint against MyJar now with the FOS

but i've yet to include all this information which i found today..

 

 

. the only reason i looked into it again today was that MyJar replied to a complaint letter i did to them (and many other payday loan lenders)

 

We are contacting you to provide you with a progress update on the recent complaint you made with us. Unfortunately and despite our best efforts, we are not yet in a position to give you a final response and have therefore, forwarded the matter on to our Complaints team.

 

We will be contacting you again shortly and we will either issue our Final Response giving our decision on the outcome of your complaint and the reasons for this or, an explanation of why we have not yet resolved your complaint.

 

Although we endeavour to resolve your complaint as soon as possible, due to the time it takes to thoroughly investigate your claim, we expect to be able to provide you with a response by 18 January 2017 but in any case, we will make sure that you receive a final response within 8 weeks of the date of your complaint.

 

For more information about how we deal with complaints,

 

Feel free to contact us at any time for an update on your complaint.

 

Kind regards,

 

 

What are my options here along with the complaint to the FOS,

what do i reply to Myjar?

 

Thanks for the help.

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irresponsible lending complaint I gather?

 

 

dx


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