Thats good to know lol. i hope you're right

my mistake sorry the transaction fee was £19.50 not £15

Okay so i've had a few payday loans and am on track to sorting them all out myself. Although obviously as i've come to find Mini credit are not very helpful! I've sent them an email or two and just keep getting the same automated messages back saying they are not interested in payment plans etc. Here's the main problem though, i had a loan with them for £140 although i only actually got £125 as they took £15 as a fast payment fee although i did not ask for this, (it said it would be an option) I was due to pay them back £190 odd on the 18th of January. It's now the 7th of feb and this is an email i recieved today. Dear XXXXXXXX We would like to remind you that your MiniCredit overdue loan balance is £431.40. If we are unable to recover full amount within next 10 days we'll send Your account to THE DOORSTEP COLLECTOR and You will incur extra costs. We may also contact Your employer and start legal action against You. We also report the status of Your outstanding account to Credit reference agencies. All this process affects your credit score adversely and ability to receive credit in the future. Best regards Minicredit.co.uk Debt Collection Team Tel: 08718903015 http://www.minicredit.co.uk/contact Can someone please just give me some advice and let me know if they can actually do what they are threatening? I actually can't believe that they sent me this in an E-mail?!! Please help .

Thanks for replying, i was just wondering if anyone did know about the ins and outs of interest of that sort? i did read somewhere that you only really owe them the loan and one months interest?

Hello, this is my first thread I have read the threads on this site and found them to be very useful. This is my situation... Okay so i took out some payday loans stupidly i know, one with wonga which they have kindly set up a payment plan for, i had no hassle with these atall! very helpful another with Payday express which i can pay off next month another with wage day advance which i can pay off next month So yeah all them are sorted after i worked out my finances a bit, although if it wasn't for wonga helping me out i'd be in a much worse situation. I spoke to wonga on the phone by the way and they were instantly helpful. Okay so my main problem is Payday Uk, i rang them yesterday to see if i could set up some sort of arrangement with them i owe them around £430 so i wanted to know if i could pay them off in 4 months but they weren't having any of it! they said i had to default first before we could come to an arrangement of any kind My only choice was to pay £87 to roll the loan over to next month, they said i can do this for 6months but it doesnt take anything off the loan which is frustrating. i read on the forum somewhere something about only having to pay the initial loan and one months interest. I would really appreciate it if someone could give me some advice on this matter I don't really want to default as i haven't defaulted on any of them before and don't really want to start. Thanks