understand that but like i said it with my DMC now and stress is off and all i will end up paying is £55-£193max

Got an reponse from minicredits complaints manager with the following Dear The Following Response is being sent to You according to the Formal Complaints Procedure. I am writing to You to confirm the verbal offer I made over the phone on the 21st of May 2012. Microcredit Ltd received the loan application for £150 on the 29th of January 2012. The due date was chosen to be on the 15th of February 2012 in the amount £175.50. In order to apply for a loan from MiniCredit the Customer has to sign up on our webpage http://www.minicredit.co.uk. After entering the personal, employment and Banking details the Customer receives the pre-Contract to the entered e-mail address and a PIN number to the mobile phone number in order to sign the Loan Agreement on our webpage. After signing the Loan Agreement a copy is also sent to the e-mail address of the Customer. When the Loan application is completed and the Loan Agreement signed the system performs a Credit check and verifies the Bank Account details to make sure that the personal information and address details match with Bank Account and Sort Code. All Customers have the possibility to apply for the roll-over soonest 3 days and latest on the due date if full repayment is not affordable. The information how to apply for the roll-over and how much it costs is available on the online account on our webpage http://www.minicredit.co.uk 24/7. The roll-over application can be only performed through the online account on our webpage. You neither applied for the roll-over nor made the full repayment latest on the due date the 15th of February 2012. The total outstanding balance £1034.50 from the date of issuing (29th of January 2012) until today the 21st of May 2012 consists of the following: 1. Loan principal £150 2. Interest in total £169.50 (1% of the Principal per day) 3. Overdue penalty £25 (was added on the 1st day overdue) 4. Overdue penalty £55 (was added on the 3rd day overdue) 5. Debit Attempt fees in total £535 (every unsuccessful attempt to receive the repayment costs up to £5) 6. Debt Recovery fee £100 (was added on the 30th day overdue) We have received no payments towards the outstanding balance. We are willing to decrease the total amount of debit attempt fees by £420 and waive the debt recovery fee £100 from the current balance £1034.50. We are able to accept the amount of £550.50 as a full and final settlement repayable under a payment plan through our debt recovery partner. The settlement balance consists of the original repayment amount £175.50, interest for 120 overdue days £180, debit attempt fees £115 and the overdue penalties of £80. The contractual interest rate is 1% of the principal per day from the date of issuing until default date the 120th day overdue. The first overdue penalty of £25 was added on the 16th of February 2012 and the second overdue penalty of £55 was added on the 18th of February 2012. The above described overdue charges and interest are in accordance with the Loan Agreement attached to the current e-mail. Your account will be forwarded to our debt recovery partner within May 2012 who will contact You shortly after to set the payment plan agreement in place. Please confirm whether the above described offer is acceptable? Kind regards, Kristel Martinson MiniCredit Claims Department 0871 890 3015 Fax 020 71382919 http://www.minicredit.co.uk kristel.martinson@minicredit.co.uk have left here contact details for anyone that want them as they have agree to my debt management company they are on £1per month and my DMC will offer them a settlement of between 10-35% of that £550 so in the end will only be paying back £55-£193max all in all i'm happy this is on its way to being sorted thanks all for your advice

newest reply from minicredit Dear A MiniCredit Claims Department member has replied to your claim, #526376 with the following response: The Following Response is being sent to You according to the Formal Complaints Procedure described in the pre-Contract. Microcredit Ltd has not charged GBP100.00 for a doorstep collector. The following information has been taken from the Loan Agreement: KEY INFORMATION If you break this Agreement, we will charge you if we unsuccessfully attempt to obtain repayment on the due date for repayment. A fee of GBP25 will be charged on the day that your missed payment was due. If we unsuccessfully attempt to obtain repayment on the due date, we will attempt to obtain repayment a second time 2 days later, and if we unsuccessfully attempt to obtain repayment on this second occasion we will charge you a further amount of GBP55. If we unsuccessfully attempt to obtain repayment we may charge up to GBP5. If we unsuccessfully attempt to obtain repayment 30 (thirty) days after the due date we may charge further GBP100 manual debt collection recovery fee. GBP100.00 was added on the 30th day overdue when the loan was passed over to our debt collection department to cover the costs that we incur in tracing you, or enforcing, or attempting to enforce, our rights under this Agreement. Microcredit Ltd has explained that we are willing to discuss a settlement if it is reasonable and covers the payments that were provided in the previous response. We hope this response has sufficiently answered your questions. If not, please do not send another email. Instead, reply to this email. Kind regards, Minicredit Claims Department Got to wait till 21st june for the financial Ombudsman to act has anyone had any luck after they have done there investigation?

So any help on what i should say in reply to there offer? As they are listening now the financial Ombudsman is involved

just updating you all sent this to minicredit: I hope that you have received the letter from the financial Ombudsman. i am writing to you to see if you are willing to accept my offer below as it is nearing my 1st payment date? As stated in a previous email I refuse to pay the charges you added to my account and the doorstop collection charge of £100. Your overdue charges are contrary to the OFT guidelines. A review by a court of law will not view the charges as fair. You cannot charge for "doorstop collection" - this is against the law. You cannot threaten to disclose personal financial information to a third party (such as my employer) - this is against the law. I will only pay the following in afull and final payment offer : Original loan repayment £175 due on the 15 feb 2012 plus 2 months interest at 1% per day coming to £105 Total: £280 Which I can pay in the following May 16th 2012: £80 June 16th 2012: £100 July 16th 2012: £100 I am making you aware that all of the infomation is being copied and fowared to the OFT and financial Ombudsman. As well a copy of this is being sent to yourselves via 1st class recorded delivery. Please note: - Under the Office of Fair Trading rules, you can only visit me at my home if you make an appointment and I have no wish to make such an appointment with you. Therefore the charges cannot be incurred. There is an implied license under English Common Law for people to be able to visit me on my property without express permission; the postman and people asking for directions etc (Armstrong v Sheppard & Short Ltd [1959] 2 QB 384. per Lord Evershed M.R.). Therefore take note that I revoke license under Common Law for you, or your representatives to visit me at my property and, if you do so, you will be liable to damages for a tort of trespass and action will be taken, including but not limited to, police attendance. Also i can not access my online account as stated in a previous email i no longer have access to the mobile number i signed up with so need another way of making payment so if you could provide a bank account and reference details.I will not be phoning in as stated before Any attempts to contact me must be in writing only. Regards And got this in reply: Dear A MiniCredit Claims Department member has replied to your claim, #526376 with the following response: The Following Response is being sent to You according to the Formal Complaints Procedure described in the pre-Contract. We are willing to consider the possibility to agree on a lowered settlement amount if it is reasonable and paid in full during the phone-call. A reasonable settlement amount needs to cover the Loan principal (150.00 GBP), the daily interest of 1% of the Loan principal per day for every day the funds have been used (currently 150.00 GBP), and the two penalties for breaking the Loan agreement (80.00 GBP). We are willing to waive most of the failed debit attempt fees (currently 480.00 GBP) and waive the debt recovery fee 100.00 GBP added on the 30th overdue day. Please contact our Customer Support on the number 08718903015 when You have funds available to offer as full and final settlement. If the settlement is agreed, the payment has to be made with a debit card immediately. Our Customer support is open from Monday-Friday 8AM-8PM, Saturday 9AM-8PM, Sunday 9AM-5PM. We hope this response has sufficiently answered your questions. If not, please do not send another email. Instead, reply to this email. Kind regards, Minicredit Claims Department Any thoughts on how i should reply to this? Would be greatful for advice

Hi all when contacting the OFT what do i have to do can someone explain it to me many thanks

Contacted this Finacial Ombudsman now just got to do the OFT

Got my Final Notice Before Action this morning original loan £150 now £880.50 threatening legal action. Any advice on what to say when i lodge my compaint to the OFT and financial Ombudsman when i contact them on monday about mini credit would be great thanks

this is the message i sent in reply to the break down message: As stated in a previous email I refuse to pay the charges you added to my account and the doorstop collection charge of £100. Your overdue charges are contrary to the OFT guidelines. A review by a court of law will not view the charges as fair. You cannot charge for "doorstop collection" - this is against the law. You cannot threaten to disclose personal financial information to a third party (such as my employer) - this is against the law. I will only pay the following in afull and final payment offer : Original loan repayment £175 due on the 15 feb 2012 plus 2 months interest at 1% per day coming to £105 Total: £280 Which I can pay in the following May 16th 2012: £80 June 16th 2012: £100 July 16th 2012: £100 I am making you aware that all of the infomation is being copied and fowared to the OFT and financial Ombudsman. As well a copy of this is being sent to yourselves via 1st class recorded delivery. Please note: - Under the Office of Fair Trading rules, you can only visit me at my home if you make an appointment and I have no wish to make such an appointment with you. Therefore the charges cannot be incurred. There is an implied license under English Common Law for people to be able to visit me on my property without express permission; the postman and people asking for directions etc (Armstrong v Sheppard & Short Ltd [1959] 2 QB 384. per Lord Evershed M.R.). Therefore take note that I revoke license under Common Law for you, or your representatives to visit me at my property and, if you do so, you will be liable to damages for a tort of trespass and action will be taken, including but not limited to, police attendance. Also i can not access my online account as stated in a previous email i no longer have access to the mobile number i signed up with so need another way of making payment so if you could provide a bank account and reference details.I will not be phoning in as stated before Any attempts to contact me must be in writing only. Regards

This is the contact email for minicredit for anyone that might need it: claims@minicredit.co.uk

Hello all just want some advice with guys as am at a loss with what to do. I sent them the following: I refuse to pay the charges you added to my account and the doorstop collection charge of £100. Your overdue charges are contrary to the OFT guidelines. A review by a court of law will not view the charges as fair. You cannot charge for "doorstop collection" - this is against the law. You cannot threaten to disclose personal financial information to a third party (such as my employer) - this is against the law. I will only pay: Original loan repayment £175 due on the 15 feb 2012 plus 2 months interest at 1% per day coming to £105 Total: £280 Which I can pay in the following May 16th 2012: £80 June 16th 2012: £100 July 16th 2012: £100 I am making you aware that all of the infomation is being copied and fowared to the OFT and financial Ombudsman. As well a copy of this is being sent to yourselves via 1st class recorded delivery. Please note: - Under the Office of Fair Trading rules, you can only visit me at my home if you make an appointment and I have no wish to make such an appointment with you. Therefore the charges cannot be incurred. There is an implied license under English Common Law for people to be able to visit me on my property without express permission; the postman and people asking for directions etc (Armstrong v Sheppard & Short Ltd [1959] 2 QB 384. per Lord Evershed M.R.). Therefore take note that I revoke license under Common Law for you, or your representatives to visit me at my property and, if you do so, you will be liable to damages for a tort of trespass and action will be taken, including but not limited to, police attendance. Any attempts to contact me must be in writing only. Regards then they replied with Dear A MiniCredit Claims Department member has replied to your claim, #526376 with the following response: The Following Response is being sent to You according to the Formal Complaints Procedure. Thank You for the information. You may find the partly repayment possibility on Your MiniCredit.co.uk online account 24/7 and use it for payments of any amount. You accepted the Loan Agreement and therefore also the charges that have been added according to it. As You are asking for the possibility for being able to make partly payments we would like to refer You to the "Repayment" possibility on Your on-line account. Microcredit Ltd does not forward Your account to a third party collection agency within 90 days from the due date and our own Debt Recovery department will deal with the issue instead. On the 90th day overdue we will start Legal proceedings against You. Please read more about Your responsibility to make sure that the debit card details are up to date from Your Loan Agreement that is available on Your MiniCredit.co.uk account. The partly payments can also be made with Ukash vouchers. We are also willing to consider the possibility of a settlement figure if it is reasonable and paid in full. Please contact our Customer Support on the number 08718903015 when You have funds available to offer as full and final settlement. If the settlement is agreed, the payment has to be made with a debit card immediately. We hope this response has sufficiently answered your questions. If not, please do not send another email. Instead, reply to this email. Kind regards, I followed up with I wish for a full break down of my account as i can not access my account due to no longer having access to the mobile number i signed up with and bank detail and reference number needed which i can use to make payments into. and got Dear A MiniCredit Claims Department member has replied to your claim, #526376 with the following response: The Following Response is being sent to You according to the Formal Complaints Procedure. The total outstanding balance GBP898.50 from the date of issuing (29th of January 2012) until today the 27th of April 2012 consists of the following: 1. Loan principal GBP150.00 2. Interest in total GBP133.50 (1% of the Principal per day) 3. Overdue penalty GBP25 (was added on the 1st day overdue) 4. Overdue penalty GBP55 (was added on the 3rd day overdue) 5. Debit Attempt fees in total GBP435.00 (every unsuccessful attempt to receive the repayment costs up to GBP5) 6. Debt Recovery fee GBP100 (was added on the 30th day overdue) All payments have to be made by a debit card according to the Loan Agreement. The possibility to make payments using a different debit card once only is provided on Your MiniCredit.co.uk account. If You do not have a debit card to use to make the payments please learn more about the option how to use Ukash vouchers on Your MiniCredit.co.uk online account. We are willing to consider the possibility of a settlement figure if it is reasonable and paid in full. Please contact our Customer Support on the number 08718903015 when You have funds available to offer as full and final settlement. If the settlement is agreed, the payment has to be made with a debit card immediately. We hope this response has sufficiently answered your questions. If not, please do not send another email. Instead, reply to this email. Kind regards, Minicredit Claims Department Now where do i stand any advice would be great