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NovaLoans / cash4younow default

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Can they placed default knowing that I am on the process of complains???

I sent complains to NovaLoans / cash4younow on the 6th of October 2017 and asking on the same time to put my account on hold  until my complains will be resolved by Novaloans Team. This means that during this time they will not ask me to make any payments and no additional charges or interest will be applied to my balance to allow them to investigate my concerns and contact me  after. I had only response on the end of December 17 where after I forwarded my complains to Financial Ombudsmen Services and again I asked for the same, to put my account on hold. They agreed a reduced amount and remove all interest and charges from my balance, meaning that I would just repay the amount I borrowed, (£600) what I was not happy as I asked to write off all outstanding amount (I had so many payday loans on that time) During all this time, when  awaiting responses from October 17 until June 18 I did not pay any instalments as I was waiting for final Decision from Financial Ombudsmen Services.

 

 Novaloans knowing about my complains process and my difficult situation placed a Default on my Credits accounts in December 17 anyway. 

 

“Despite us agreeing the above reduced repayment plan with you, we were still legally obliged to advise you of the arrears on your account and as such we emailed you on 29.12.2017 advising you that your account was now £561.18 in arrears as you had defaulted on your contractual payments of £187.06 per month. On 29.12.2017 we forwarded you a summary of borrowing email which advised you that your account was in default as you had failed to maintain payments in accordance with the terms and conditions of your contract. In accordance with the requirements of part 4of the Payday Lending Market Investigation Order 2015, effective from 13.08.2016 we must ensure we provide our customers with a summary of the cost of borrowing. This summary must be made available to you when: 1. You settle the balance of your loan with us; or 2. Your account with us is closed as a result of default or forbearance; or 3. Three months have passed since you last made a payment to us and we have not closed your account We did not receive your first payment until 02.07.2018, (£50), some 10 months after your first payment was due therefore the summary of borrowing condition number 3 was met and you were provided with your requisite documentation Outcome of my investigation Cash4unow takes all complaints very seriously and we have taken some time to thoroughly investigate your concerns. I do not agree that Cash4unow unlawfully registered a Default on your credit file.”

 

 

Can they placed default knowing that I am on the process of complains to Financial Ombudsmen Services??? I asked them to put my account on hold ? Please note that on the same time I was complaining against Wonga, Satsuma, Sunny, Money Boat, Unclebuck and more and only one Company Novaloans placed Default on my account. I was not able to pay requested instalments on that time.

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In short yes they can...if you have defaulted on the contractual monthly/weekly payment.... its a default ....irrespective of any dispute or complaint.

 

Andy


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