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Parcel delivery insurance is prohibited under section 57 – Consumer Rights Act – Read about It Here and in The Times.

acid53

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Everything posted by acid53

  1. acid53
    If you look at the recent pattern of ombudsman decisions on the FOS website, there are quite a lot related to CFO with virtually all being upheld. I thought minicredit were the worst of all these sharks but reading the stories on here and on the FOS website, this crew are shocking. How they allowed to get away with some of these actions which almost border on the criminal is very disturbing.
  2. acid53
    Yes, have replied pointing out the missing information that I am aware of but just checking that a SAR means everything?
  3. acid53
    Hi, In support of a complaint I have lodged with FOS about MoneyShop, I sent them a SAR based on the template in the library. In response to this, they have provided some information but also lots of things missing such as emails I had sent them, various phone calls and some account information missing. If I was being cynical, I'd guess they are not providing some of the info which would be detrimental to them but it just may be incompetence or bad record keeping. Thankfully, in terms of emails, I have kept copies but am I right in thinking they should provide all data held about me to comply with the SAR? thanks,
  4. acid53
    do we know who the other lender was who referred themselves?I personally cannot see given the practices of the industry, and my own personal experience of many of those lenders, that any of the companies can stand over the afforability practices of the past. Not so much in terms of the actual original loan per se but the continual rollover practices that I and many others would have experienced. Having entered a cycle of continual rollovers, it is fairly damning evidence of unafforability - the question is whether many of them will stay in business in order to offer redress or just close down having enjoyed the payday market when it was at its most profitable. Wonga seem to be front loading the pain so that they come out of it as a sustainable business - quite a few of the other operators I am sure will exit the market and not have to deal with the sins of the past..
  5. acid53
    thanks renegade. so does anyone know know if it was just microcredit who had their licence suspended or the did it affect the wider minicredit parent group
  6. acid53
    thanks silverfox, bit confused whether microcredit and minicredit are the same entity
  7. acid53
    hi, just noticed this article about minicredit http://www.google.info/forums/showthread.php?47704-Micro-Lend-Uk-Credit-Licence Was doing a bit of research as I have an FOS complaint against them for irrresponsible lending. Have got recent emails from the lovely Kristale. Has anyone got a loan from them recently? What happens my claim if they go out of business?
  8. acid53
    if you look at the FOS website and the decisions database and do a search on payday, you will see there is already a fairly strong case of irresponsible lending being built up with most of the cases being upheld due to unaffordability. The wonga story I think sets a massive precedent now though and i believe it will hard for any of the payday lenders to argue about affordability practices of the past - i believe some of them will be looking at settling claims like wonga to make it a least-worst option but the majority of smaller ones will simply go out of business and i doubt there will be any re-dress. Having experienced nearly all of the payday lenders at some stage, wonga were definetely one of the better ones - when you think of the behaviour of the likes of minicredit, it is astonishing they were allowed to get away with some of their practicesjames31- i had something like 50 rollovers with moneyshop which i thought was impressive but you have set a new record lol. whatever the rights and wrongs of payday lending, no one can argue that allowing people to rollover to the volume of 50-70 times is anything but a profit racket. desperation makes people do funny things...
  9. acid53
    i assumed the post was one payday lender down (wonga) and three to go!
  10. acid53
    who are the other three lenders? Surely the vast majority of payday companies are now screwed by this decision, there is no way wonga can claim its previous lending in the past up to now has been responsible given its admission at this stage which will surely open the floodgates for lots of claims similar to ppi misselling. and in my experience, wonga were the better side of a lot of these outfits in terms of treating customers. considering the shenanigans the likes of minicredit and others were at in their treatment of customers, this really is a new dawn for payday lending
  11. acid53
    yes it appears as settled - however should the status it not be marked as up-to-date at point of settlement when the final payment is made? All other accounts appear as satisfactory on my credit file at the point they were settled whereas this one remains settled but showing it three months late (despite me being in arrears with a number of them) the attachment shows my payment sequence shows as following on my credit report. I am happy that it reflects the historic status of the account being 4 months in arrears at a point in time but assumed it would show as satisfactory at point it was settled
  12. acid53
    thanks brig - yes appreciate with the historic entries that I am going to have to swallow my poison on it and I have no problems with that (have been battling a gambling problem for a number of years which has resulted in me taking numerous payday loans out). However, I would at least like these entries to reflect the most positive view of things as my credit score is very low and every bit helps Do you think I have merit in contacting safeloans and requesting them to mark this account as satisfactory and not as 3 months late at the point that I settled it The new ICO guidelines seem to enable some of the more trigger-happy payday lenders to register defaults exactly on 90 days irrespective of payment arrangements or not.
  13. acid53
    thanks for reply brigadier - yes, seen the recent thread about AP being as toxic as defaults and problem with the timescales. thats why i hope the account entry remains deleted. any thoughts on my second question about an account being settled that is show as 3 months late. At the point the account is settled is it not up-to-date?
  14. acid53
    complained to moneyshop along the lines of thread above and they replied immediately indicating they would update it to arrangement to pay instead. however, when I checked credit report this morning, the entire moneyshop account has been deleted from experian which is great! They did say they would update it to arrangement to pay instead. Another general question - for accounts that are a few months in arrears and marked as status 3 for 3 months late for example, should these accounts be closed with the status indicating the arrears status or as satisfactory? e.g. at the point of final payment of an account, I assume it is back to satisfactory and up to-date. I have only credit account from safeloans which stands out like a sore thumb showing as 3 months late even though I cleared it a year ago
  15. acid53
    hi, I entered into payment arrangements with money shop and paydayuk in feb this year and agreed repayment plans over a 6 month and 12 month period respectively which I have honoured and, due to receiving some some bonus money from work in May, I was able to settle both accounts just after the three month period. I checked my credit file today and noticed that money shop have registered a default bang-on the 90 day mark from my revised agreement. As paydayuk are part of the same company group, I am anticipating that they will do likewise especially as they stated in the payment arrangment something like they reserve the right to record a default if the debt is over three months old Am I right in thinking this contravenes the new ICO in Jan 2014 that a default should not be marked if a payment arrangement is in place and being honoured (principles 3 and 4)? In the case of the default information recorded on my Experian file, it shows the incorrect balance and in one fell-swoop has jumped from status 2 to status 8 whilst showing it as satisfied
  16. acid53
    thanks sillygirl, yup you are right, they are not giving an inch...on one hand i guess they did not put a default on my account which two other companies did (although i have since got them removed). On the other hand, the late payment markers and the dozen or so credit file entries are not doing my credit rating much goodIncidentally, i tried arguing with them that at the point I paid my final installment of my arrangement that it should be marked as up to date - they are insisting that the file is marked as satisfactory but status is 3 months late. I am going to request copies of my credit agreements from them to see where that leads
  17. acid53
    hi,I've just contacted safeloans re the multiple entries on my credit file asking them if each loan was an individual credit agreement or a revolving credit agreeement and received a bizarre meaningless response from them stating:"Please note that it does state we will up date the account accordantly. Which we have done.Regards Safe Loans"Heropanda, any chance of sending the text of your letter? I dont believe the word "accordantly" is in the english language unless it is a legal term?
  18. acid53
    emailed info@cashbob one final time - putting CUSTOMER COMPLAINT in the subject line in case that triggers something with them. They have not acknowledged responded to my previous 3 emails -email thread initially started 17th July. Also, copied in mike.batenberg at cashbob.co.uk (not sure if this is his actual email but gave it a shot anyway)will give them 5 days then I think i will complain to FOS and information commissioner
  19. acid53
    thanks ocelot - i never thought about it in those terms but yeah one agreement should equate to single entry
  20. acid53
    great news ocelot - can you share the email addy?. I still have no reply to the emails I sent to their info address. On the verge of escalating the complaint to information commissioner and financial ombusdsman service but I may try emailing their CEO first
  21. acid53
    thanks ocelot - very interesting about cashbob, im about to escalate this now having emailed them 3 times but to no avail. what is the lenghty process of getting multiple accounts removed you refer to?
  22. acid53
    thanks for replies guys - no matter what the legalities of what they are doing, in my view this is clearly in bad faith but hopefully i can get it resolved in a similar fashion to yourself heropanda. At least they did the decent thing in the end and removed the defaultAny views on how long I should Cashbob to reply before i escalate - is it ok just to email the address or their website (info@cashbob) or do I need to specifically write to the Information Controllor at the company?Renegade, any thoughts on the other payday loan accounts showing multiple entries. On what basis can I go back to them? thx
  23. acid53
    thanks for the reply heropanda. what way did you go about getting the default removed? Yes, thats what is so frustrating - agreed the plan in good faith, stuck to it, they didnt update my credit file and no default notice etc. I've written to them twice now and no reply, will give them a few more days then start escalating it
  24. acid53
    renegade, any thoughts? thx
  25. acid53
    please see entries - my cashbob ones do not seem ordered together so i've shown similar entries from wonga and safeloans

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