Hi jessiicahh, 1) DON'T PANIC 2) Speedcredit, Toothfairy, NDR, Marshall bailiffs, Appleton Massey... they are basically all the "same" people, just set up as different companies to add all these debt recovery charges. Most of these emails, letters and SMS are sent out more or less randomly by a computer to push you into paying, so please ignore these for now. 3) You have to "secure" your money on your bank account as they will definitely keep trying to debit your cards. To do so one way is to "lose" your debit card, inform your bank about this and get a new card. Also send a letter to your bank that you withdraw any continuous payment authorisation (CPA) with Toothfairy Finance/Speedcredit Finance. 4) You should try to avoid further bank charges. There is no way the bank will reverse these debits already done, so maybe you can try to lend money from friends/family to get your account at least back into the limits to avoid further charges. Another option would be to speak to your bank, tell them you were not aware of these debits and ask them, as a gesture of goodwill, to install/increase an overdraft until January to avoid further charges and to waive the existing charges. 5) You should only communicate with Speedcredit directly. Send them an email, if necessary via their website contact form (but make a screenshot as proof) and explain them your current situation and offer them a full and final settlement figure for January., probably (if you can afford this) in the region of 200 GBP.

Hi metro67, I think there is not much that can be done. 1) WageDayAdvance states nowhere on their website that the loan is for a month. Instead it is until the next payday, so she must have entered her next payday on the application form as 5 Nov 12. 2) Although their debit is showing up already Saturday 03 Nov 12, it will be calculated interest wise as if debited Monday 05 Nov 12. It is quite usual for the banks to process incoming and outgoing payments due on a Monday already Saturday.

Hi gunny45, ...and I forgot... Do NOT give them your new card details, even when you are on a repayment plan with them, as they will try from time to time to take the full amount... pay by standing order instead to their bank account.

Hi gunny45, You can check the cards they have on file online on their website when you log in. I assume, as Wonga is a lot automated, that the system will only try the primary card left in their system, but to be on the safe side I woiuld recommend to 'lose' all three debit cards and get new ones from the banks. Wonga can be easy to deal with regarding repayment plans compared to some other PDL out there. You have to request the repayment plan on the day you default (they will not issue repayment plans before default date) and I would recommend to do this by email to them. As their representative already stated, they will send you an I&E form to complete, which is an Excel form. When completing it take care to end up with an available income in the region of what your desired rate of monthly payments to them is. Keep in mind that they will agree to repayment plans of 12 - 18 months.

Hi the_pit, In addition to the charges they mentioned they will also try to charge 3 attempts of debit card payment per day with GBP 5.00 each, so this will be another GBP 90.00 until they can take repayment on 09 Nov. So in total they will try to collect on top of the amount they wanted to collect on 03 Nov another GBP 24.00 interest, GBP 25.00 default fee, GBP 55.00 default fee and GBP 90.00 debit card fee, so in total GBP 194.00 in interest and fees. If your account will give this on 09 Nov they will take it, so if you do not want to pay these fees secure your money (you might accidentally lose your card)! I understand you called them, so I would definitely put in writing to them that: - your work payment date changed unexpectedly to 09 Nov - as you informed them pre-default they cannot charge default fees - there will be no funds in your bank account between 03 Nov and 09 Nov, so you will contest any debit card debt attempt fees of GBP 5.00 during this period - you would be willing to pay GBP 24.00 in additional interest and repay this and the original loan amount and original interest amount on 09 Nov, so they should please change your due date accordingly and confirm this - you are a long term customer

Hi baggybreeches, The OFT will usually not get back to you in the foreseeable future. They might use your case once they take action against Minicredit/Opos (they must have meanwhile hundreds of complaints against them) and then they might come back to you again to ask you to make a witness statement, but this does not help you right now (though sending them this might help other people in the future...) As sillygirl1 stated you also should complain to FOS. They will look into your individual case. The default date is definitely the 25th of April and not the 23rd of August. The issue I see is that you only contact them on the 18th of June. I understand you could not use your mobile but the FOS might question why you not used a public phone or email. The debt collection attempt charge of 5 GBP is in the agreement, but obviously 128 attempts is ridiculous. According to their own statement above they are attempting collection on the due date, two days later and on day 30, so three attempts in total. They are contradicting themselves here Also I would question the debt recovery fee (although in the agreement) as they are already charging a debt collection attempt fee. They could only charge either of these in my opinion. I would write back to Ashley from Opos (copying Minicredit) stating that: - You have reported them to the OFT for their charges, their debt collection practice and their harrassment - You will report them to the FOS for their charges - You are challenging (without prejudice to the other fees) * the "2. Interest in total GBP 146.00" as this should only be 79 GBP, as you contacted them 79 days after taking out the loan and all further interest should have been frozen to enable you to repay the loan per OFT guidelines of debt collection * the "4. Overdue penalty GBP 55.00" as this is a default fee, but you already have to pay the default fee of "3. Overdue penalty GBP 25.00", so no further default fees should be added * the "5. Debt attempt fees GBP 640.00" as this would equal 128 collection attempts, however in an email from Minicredit they state they will attempt on due date, two days later and on day 30, so three attempts equals GBP 15.00 in total. * the "6. Debt recovery fee GBP 100.00" as they are already charging a debt attempt fee I would offer them a total of GBP 198.50 which is calculated as - Initial loan GBP 100.00 - Interest until first contact date 18 June 12 GBP 79.00 - Debt attempt fee (3 attempts) GBP 15.00 - Default fee GBP 25.00 - Minus payments already made GBP 20.50 I would offer them this amount (GBP 198.50) to be payable over 12 months with a monthly rate of GBP 16.55 payable by standing order to their bank account. If you can afford I would also offer them in addition a full and final settlement of GBP 120.00. (So they can either choose between getting GBP 198.50 in 12 monthly instalments or GBP 120.00 in one sum)

Hi pb811, MonthEndMoney (MEM) Sort code: 60-00-01 Account: 39524906

Hi sharpend, No worries, they have two bank accounts (old and new), one with HSBC and one with Barclays. Both accounts are still active. I would definitely send them an email again requesting a repayment plan.

Hi biffa1965, Wonga does usually repayment plans up to 18 months, but they are requesting to complete an I&E excel, which will detail what you have left this month and assess it according to this.

Hi sharpend, Wonga usually takes anything from one day up to a week to respond, and sometimes they do not respond, so carry on doing the payments until a plan is agreed and send them an email every 3-4 days. They will respond at some point, probably asking to complete their I&E form. You can also try (if not done already) to send your email to the address assessment@wonga.com. This is the department dealing with repayment plans.

Hi Thorntondog, I use my name and postcode and that works well with them.

The server in Finland on which the speedcredit webpage is run, is responding perfectly well. That can only mean they have taken the website down themselves. As this was done on a Friday, Gordon Reykdal and colleagues are probably already on their way back home to Finland or more probably further afield to Canada, where they run similar companies. Canada should be save enough to avoid paying 580,000.00 GBP

Totally agree

Hi renegadeimp, Sorry, I meant to write "email" instead of "call" in my post (as in my last sentence). I usually called, but I am aware that email is CAG preferred advice. I will take better care next time

Hi Ruth Vintr, Wonga will answer emails within 48 hours and as a first step at least tell you which bank account the original loan was paid in. If this is not your bank account they will also refund. I am more worried about hearing about the letters not arriving. Can it be that your identity was compromised and e.g. the mail is re-directed or stolen?

Hi chezelle, I would try to make them an offer without prejudice and in full and final settlement of 40% of the outstanding balance (calculated as outstanding 494 GBP - 380 GBP = 114 GBP, Offer of 40% = 45.60 GBP), they are likely to accept this.

Hi abbyyurt188, First to answer your questions: 1) Yes, if you do not pay any of the three agreed instalments then you will get 3 default notices, each 12 GBP. On the upside QuickQuid will not add any further interest or charges to the debt during these 3 months (as per your credit agreement with them), making them actually much cheaper than other PDLs during default 2) Theoretically it could affect your credit rating. Check if they a) actually recorded the loan and b) recorded it as 'Payment arrangement'. 'Payment arrangement' (Experian) or similar with the two other agencies, is not as worse as a 'Default', but will bring your score a bit down. However sometimes they will not record any further default until the three months of your agreement are over. After the three months (if you are not paying anything) they will send it to a DCA and then will record a full default on your file. If you cannot afford the three rates, you can actually stretch it a bit more (without being passed to a DCA) by doing the following (if you can afford): - Do not pay anything during October - Either if you can afford pay the first rate beginning of November. If you cannot afford do not pay anything until middle of November, when you will receive a letter threatening DCA and default. Then call and pay the first rate middle of November - Same game as above until end of December, then pay end of December the second rate - This effectively gave you 4 months for only 2 rates - Then email end of December and arrange a repayment plan over 6 months for the last rate Basically they usually in the beginning only agree to repayment plans over 3 to 4 months. This can be stretched by up to two further months (First stretch is to agree upfront that the first payment is only due one month after the loan was originally due, second stretch is to make late payments as described above). Once you paid all but the last rate, they will agree to a further six months for the last rate.

Also do not use any trigger words in the contact form (like "repayment plan") or you will get an auto-response

No worries, I just found it funny that QQ and LendingStream are not only using the same bank, but in fact the same branch QQ and LendingStream are not the same company, totally different companies and no links. If you are looking for LendingStream bank details, here they are: Account number: 13434028 Sort code: 20-19-90

Unbelievable... After years QQ finally gives out their bank details. And they are using the same bank as LendingStream

Hi chezelle82, It depends when you arranged the repayment plan. If you arranged it way after the default date, it could be they added the interest/fees all before you entered into the plan

Hi Strongereveryday, 1) It should not show as a default, but as 'Payment arrangement' (Experian) or similar. The difference is that a 'Payment arrangement' shows you have contact the lender before default and came to an arrangement to change the terms of credit which both parties agreed to. A default would be if the lender defaulted you, so much worse. However also a 'Payment arrangement' will affect your credit score. Please note that not all of the above lenders will report you to credit agencies. I am assuming that if you used payday loans your credit rating is not top anyway, so I would strongly suggest to consider repayment plans. There is no other way out and if you continue rolling over, etc. you will highly likely end up in the 10000s' of pounds over the years 2) The lenders above are very different in dealing with regarding repayment plans. Some are easy, some are tough. Instead of offering everyone 40 GBP a month I would offer them different amounts depending on their usual repayment plan "willingness". I know that sounds not fair to them, but it will help you to get out smoothly. Have a look around this forum for these lenders to get a feeling how to deal with them. E.g. both MrLender and Peachy(CashOnGo) will accept 12-month-repayment plans. So instead of paying them 2*40 GBP = 80 GBP, offer them instead 16.67 GBP to MrLender and 15.83 GBP to Peachy(CashOnGo) = 32.50 GBP for both per month. This alone will give you 47.50 GBP per month extra to spend on either the other lenders or to put into a saving accounts for upcoming unexpected expenses (so you don't need a loan in the near future)

Hi postnm, 1) At least cancel your debit card (lost) and ask your bank to send you a new one. Also send your bank a letter to cancel any CPA with those companies (this will give you the chance for a refund from the bank should they take money). Both you can do right now. There is no point in giving 100 GBP to the PDL companies before sorting out a repayment plan with them. 2) You say you have 90 GBP a week for repayments to PDL, that is ca. 360 GBP a month. Your total PDL debt is ca. 1450 GBP. So repayment plans over 4 months should solve your problem. Speedycash (SpeedyDosh) will agree to repayment plans over 8-12 months, and Wonga will agree to repayment plans over 12-18 months.Both are relatively easy to deal with. PaydayExpress however is more difficult. 3) Therefore I would propose to the PDL the following repayment plans: - Wonga: 23.61 GBP per month over 18 months - Speedycash: 44.25 GBP per month over 12 months - PaydayExpress: 250 GBP ish per month over 2 months 4) As you can see after 2 months you have ca. 290 GBP per month over as you have 360 GBP for repayment but are only repaying 70 GBP per month. Use some of these 290 GBP to put in saving account, so you do not need payday loans ever again, if something unexpected happens 5) Never ever take out another payday loan or roll over!!

Another option would be to set up a basic bank account, which you just would use to have QuickQuid paid by direct debit.

It seems that they ignored your first response and sent their standard text. Do you still have the original terms and conditions somewhere (not the current online version)? If yes, look up if there is also mentioned that you have to repay as minimum the interest and 1% of the outstanding loan. It can be that they (as they stated in their reply) changed the terms and conditions, which would mean their business model would be: - Pay out 500 GBP - Charge interest only over 2 years - Then change terms and conditions to switch to a normal loan concept (charge interest and 1% repayment) If this is the case here, then the only other option you would have is to report them to FOS and let FOS and also FLM know that it was not made clear to you that you would not repay anything towards the 500 GBP the first two years. But if their original terms and conditions also stated interest + 1% repayment, then write them again that they never took the minimum repayment and you therefore already defaulted and they can therefore only have charged 8% interest since 2010, and you therefore already repaid the loan...