Sorry for the delay in replying - its 247 Moneybox Is the 2 months max interest the acceptable rate now?

Hi I have a payday loan which is now 4 months overdue. I contacted my lender before the payment date requesting a repayment plan and have little or the same repeat response. Have heard nothing since 2 weeks after default date and all my emails and written attempts at contact have been ignored. The interest is still being added,I did not roll over and have not been issued with a default notice. Any suggestions what I should do and does the lack of the default notice improve my position? many thanks

Hi Jamie Thank you for your reply It is 247 Moneybox

Hello I have a £470 loan that I am unable to repay, due on the 28th Jan and have decided that I will not roll it over again. Will now try to arrange a repayment plan to pay it back over 2/3 months. I have 2 accounts with my bank and would like to know if the lender has the right to take money from the account/debit card that was not registered in the loan application. Many thanks in advance

I tried to pay QQ using a pre-paid Cashplus card last year but they would not accept it. I didn't inform them that it was a pre-paid card ,just used the number. The banking systems can detect what type of card you use by the number coding. I have paid them by paypal with no problems but by sending the money from my account - refer to your customer number and the loan agreement at all times. I suggest that you do not use their Paypal payment requests so you can keep in control of things.

There are a few posts on the forum from posters querying why QQ have informed them that their balance is zero. I have now just received an email from them saying my balance of £10 is overdue - I actually owe £00s. I wonder if they have a problem with their payments/information recording system, or are as others have said trying to get as much as they can before they are kicked out - interesting

Sorry at work and didn't get chance to finish my post. It was £545.40 and the total to be repaid was £1231.70 Only the 1st monthly payment was made in full and I have paid another £160 over the 5 months Contacted them numerous times to request repayment options but only one reply - what I would have to pay back if I repaid early - Settlement figure valid until 27/10/2011 -£884.00 (Arrears included) To me the loan repayment seems reasonable unless they try to add more. Just trying to work out my best options of repaying it.

Hi sillygirl1 Thank you for the reply and the advice The original loan was to be paid back over 6months and I did know the total I would have to pay back when I took the loan out (was desperate at the time) Have been making reduced/nonpayments for 4 months The original Payment Schedule was * Date * Amount Due * Aug.26, 2011 * £163.50 * Sep.27, 2011 * £272.50 * Oct.27, 2011 * £272.50 * Nov.25, 2011 * £272.50 * Dec.23, 2011 * £272.50 * Jan.27, 2012 * £272.50

Received an email from LS yesterday informing me that they had changed their trading name slightly. Received another email today informing me that as I had no replied to their constant attempts at contacting me regarding my reduced/non-payments the debt which has now passed the completion date (31/1/12) was being passed to MacKenzie Hall - this is rubbish as I have heard nothing and they have been ignoring me. The balance (£1374.40) they have given me is about right and has not changed in 2 weeks so I accept that this is the figure I should pay. LS have informed that I should contact MH now to fully pay the debt and/or make arrangements. I cannot afford to pay more than £60/70 per month and willingly will pay what I owe. My thoughts are I should wait until MH contact me officially in writing and then I ask them for a letter of assignment - this will give me more time to pay other debts off. After they have replied as requested I will then try to make an arrangement plan or if I can make a F & F What are your thoughts on this idea or would you do it differently? All replies greatly appreciated

This thread was originally started in March 2011 and some of the posters had mentioned that they had defaulted many months before that but had heard nothing. I have a loan with LS that I will have to default at the end of this month. If possible I would be interested to know what the outcomes were for the other members that were in the same situation Many thanks in advance

Sorry for resurrecting an old thread. I have tried contacting LS by email,phone,letter etc but either get no reply or am left waiting on the phone for ages. Are their bank details in this thread still correct and if so do I make the payment to LS or Barclays? Apologies if I have missed the obvious as it has been a very long day

I have had dealings with them and if you are committed to the loan then please make sure you pay it off when you are supposed to. They had been chasing me for non-payment and tried to raid my account even though they had been paid. Their charges for late payment and interest are ridiculous Best advice - avoid.

£11,800 is what I currently owe with interest being added as I am paying less than the original monthly sum. Not defaulted yet - they sent me the standard you will default if you don't pay by letter. What gets my back up with Barclays is that there are so many divisions and contacts you have to deal with and it is clear they are totally unable to communicate with each other. To be honest it has got to the stage when I might accept the default just to be shot of Barclays. I have moved my main account to Lloyds anyway and just have the Barclays Loan and an un-authorised OD which will be paid off next month.

Thank you for the reply Bazooka Boo Thanks to this forum and Moneysavingexpert I feel quite comfortable in how to deal with my creditors and what is/is not acceptable practice. Although it has been a struggle I have continued to reduce my debts which are credit cards and 1 loan but Barclays have been rubbish to deal with even though I have been with them for a long time. I am making reduced payments but Barclays are still adding interest on the loan but I accept this. As I already had a default assigned this year should I just go ahead with their default,get the balance established and renegotiate a more manageable repayment plan with the DCA - I owe them £11,800

I am currently self-managing my own DMP and most of my mainstream creditors are being helpful and supportive, this has helped me reduce my debt by £4600 in the past 2 years. I already have a default assigned by Mint from 2009 and a repayment plan in place. Capital One have defaulted me in the past few weeks and the repayment terms have been agreed. My other smaller creditors are being picked off quite quickly. Other than my mortgage my biggest debt is with Barclays Resolve Loan who had agreed to a short term repayment plan (which I have been paying) an assessment of my outgoings and 6 months to address my arrears. Now out of the blue they are threatening me with a default and want the £365 arrears addressed by the 8th November. As I still have a substantial amount of debt, which with my plan will take 5/6 years to pay would I be better off accepting that they default me and then arrange new payments with their assigned DCA? At least this will give me a target figure to work towards and I can make repayment offers that I can realistically sustain. Any help will be greatly appreciated.