After doing some reading i realise that it is futile to get defaults removed from my credit file. I am looking to get a mortgage next year, my credit file would have been clear by next year. I logged into my credit file yesterday to find two PDL defaults had appeared on my file. [ATTACH=CONFIG]59244[/ATTACH] This is obviously a pretty bad thing so i need to do all i can to remove them if at all possible. I am looking for a Full and Final Letter template to send them and couldn't see one in the document section. Can anyone help me draft one? CASHEURONETUK,LLC and PRA GROUP (UK) LIMITED Note one of the default is zero balance for some reason :S Any help would be appreciated lots.

http://digiguide.tv/pick-of-the-day/1+September+2015/documentary-cash-in-hand-payday-loans/ Looks like Uncle Buck is the subject of this programme.

Are secured loans all bad? I am currently on a DMP with Payplan end date 2020 (dependent on charges & int) and am looking into ways of clearing this quicker. I have posted on the DMP forum and am currently looking into sending out CCA requests but have also been looking into secured loans. If I can borrow a lump sump I can try and offer full and final settlements to my creditors this will reduce the debts and I will have a definate end date. My main issue with secured loans (apart from the obvious being secured on my home) is the interest rate, are there any good companies out there that offer fixed rates and can be trusted! Many Thanks (be nice lol)

Hi everyone, j ust after a bit of advice i have run into a few problems with this company, they recently rang the guarantor at their place of work, which i did think was not allowed as they did have two other contact numbers for the person, i did raise a complaint but they said they have done nothing wrong, i am sure they cant do this, also the payments are meant to be 146 a month but they randomly took 66 pounds from the guarantors account without permission which agin as far as i am aware they cant do without permission, can they really do this isnt there a code of practice they have to follow and they cant just do what they want, can they

Every now and again after spending a good few years reading many peoples stories on the consumer forums something about some peoples experiences give you a uneasy feeling in your stomach. After the subprime chaos came the payday loan crisis that is still raging in many countries causing misery for millions of people. These kinds of companies change and find new ways to extract money from their targets which is usually the hard working low paid in poor areas worldwide. Call them Legal Loan Sharks,Lepers of Lending many of us have names for them. Changing like Chameleons their products come and go hurting people, ripping extortionate rates of interest and charges which must mean money not being spent in local communities.Businesses must suffer in their target areas because the interest and charges paid to them is usually collected and shipped off to far flung destinations. Not spent locally. Then seemingly after a few years the targets are forgotten the products and people who thought of them slip off elsewhere in the world or think of a new product their targets forgotten in the mist Reading that Fathers,Sisters,Grandparents,Pensioners any relative you can think of has not spoken or fallen out with a family member for years due to these loans makes me sad as I suppose many of you feel the same. Some will say that is business, the way the world works. Some will feel stop the world I want to get off had enough of it all. I have just been reading a article abroad trying to link increases in deaths in areas targeted by the predators and their products. and it seems to stack up. If any of you have any stories or need help with these guarantor loans please write and tell us what has happened to you and how it has affected your family. When you start reading about proper checks not being carried out it usually means a bubble is bulding and ready to explode usually in this direction. Some guarantors and people who took them out must be in crisis or heading that way with implications for both. I hope that many of us on here the wise ones that I call the site team and of course myself somehow can help you in some way,just love a challenge when the odds seem stacked against you give us a shout. I feel these kind of loans have already been written about just thought I would try to get that feeling out of my head and put it down here. Here is a small article that I have just read,there are many more . Guarantor lending 'as damaging' as payday loans, warns charity http://www.bbc.co.uk/news/business-33555764 Just gathering some knowledge about these loans in 2013 50000 people took one out.Estimated. How many now. No cap in place but I believe the FCA is looking into this. Report due soon Following the Bank of England announcement that an interest rate rise is due before the end of this year and government welfare and tax credit cuts due to start, concern is being raised over guarantor loans, which are not covered by the cap. More than 50,000 people a year now take out guarantor loans, which range between £1,000 to £7,500 and are repayable over periods between 12 months and as long as five years. Pursued by debt collectors However, there is evidence that proper checks are not always carried out over who is taking out guarantor loans and more than four in ten are unaware of the liabilities they take on. Family members or friends who guarantee the loans can suddenly find themselves legally pursued by debt collectors, even in cases where the borrower has died. One of the biggest problems facing guarantors is that they are not regarded as ‘customers’ by regulators. This inevitably means that a guarantor will not be provided with the information a traditional borrower would receive and are not protected by normal rules governing the fair enforcement of debts. Citizens Advice is urgently calling on the FCA to take action to now reform how the guarantor loan system works. So fair I would say to believe due to many people now having poor if not shattered credit ratings and other pressures that possibly family members or friends are coming under increasing pressure to be a guarantor. Recipe for trouble for many. Everyone has a view what is yours. And perhaps you have felt the pressure tell us your experience perhaps it worked out for you. But with loans spread out and 1000- 7500 available plenty of time for things to go wrong. Which personally I find they usually manage to. Just read a report by Stella Creasy MP for Walthamstow. Shocked to read this. Predators must be licking their lips you feel. Unsecured personal debt has gone up by £48bn alone since March this year and that’s not by accident. George Osborne is balancing the books out of the pockets of ordinary people, expecting them to borrow to make up the difference between what they need to live and what they earn. I am not making a political point but this MP does fight for people as many on here know. Here is the article. http://www.stellacreasy.org.uk/stella-sounds-alarm-for-generation-debt/

The Student Loans Company (SLC) is overcharging almost 80,000 graduates by ten per cent every year – leaving them £580 out-of-pocket each time. Automatic income contingent repayments (ICR) begin when a graduate begins to earn over a certain amount of money once they complete their studies. The repayments are collected through the UK tax system where borrowers remain in the UK. However, as the SLC only receives information from HM Revenue and Customs (HMRC) about what customers have repaid once a year – after employers have finalised their annual tax returns – there is a ‘time lag’ which means thousands of people nearing the end of their repayments overpay, unless they opt for payment by direct debit. http://www.independent.co.uk/student/news/student-loans-company-is-overcharging-almost-80000-graduates-by-580-every-year-baker-tilly-finds-10431230.html

Hi, thank you for looking at my thread... I will try and explain what has happened to me, hopefully I don't confuse anyone In the beginning of 2009 I took a loan out with Amigo Loans, at the time I was working full time and was paying my loan of fine... However, near the end of 2009 I lost my job (the famous recession) and I fell pregnant (not perfectly timed) my pregnancy was awful, I was suffering from horrendous morning sickness and the G.P had signed me off sick, up until Nov 2010 I continued to make payments from my savings... Till it ran out, amigos didn't really send myself or my guarantor any letters chasing the debt - and I just got busy with my daughter... In sept 2013 I received documents from Amigos to take court action (it was expected) and I did everything, fill in the income/expenditure form - I can't remember if I did a defence (I have never got into debt before so this is all new to me) In Nov 2013 I was handed a CCJ in regards to this debt. Now I was making payments which the courts had stated, I made them every month without fail - with an extra £20 on top to just cover me incase I fell behind. The payments were taken via direct debit without a problem, till March 2015 - Amigos didn't take a payment in a payment, I don't know why - the direct debit is still active. I then even sent a direct payment of £10 to see if it will start the direct debits off, but it didn't - at the time I was going through depression and counselling so I had other problems. Anyways in June 2015 I requested a copy of my credit report - now on there is the CCJ which is fine, but there is also an account with Amigos on my credit report which shows as though it is in arrears - the account does not have a default on it. Now I sent an email to Amigo on 11th August 2015 requesting that they put a default on my credit file therefore allowing lenders to see the account is defaulted and not in arrears - however they refused this?! The issue I got is, I feel like I am being punished severely as this arrear will never leave my credit file - my understanding is that CCJ's are removed after 6 years but a loan which is in arrears will remain on my credit file? Is there any kind of grounds I can use for them to put a default on the account 3-6 months after it went into arrears in Nov 2010? I will try and attach a copy of my credit file showing these... Sorry my thread is so long, I thought I'd give as much info as possible.

Hi all, Can anyone help out? Do you have any information on the following company. https://www.instantdecisionloans.co.uk/ or has anyone heard of them or had any dealings with them? A colleague of mine has unfortunately been duped by them out of circa £500. A police report is in the process of being filled out for fraud. He is currently cancelling his card and changing his account details so that they can no longer take money from him. any info on these would be great if anyone has had dealings with them. Thanks

http://www.bbc.co.uk/news/business-33555764

Hello everyone ive had no end of problems with a company called MYJAR they registered a debt and default on my call credit report 3 months ago for a debt that was 3 years old and made out as if id only just started missing payments etc. I complained to the FOS who agreed fully and told them to update the default to the correct date. I checked last month and it the whole account had been removed again great so i thought. This month the debt is showing again but default has been removed and shows now that i'm 1 month late on repayments. I have been complaining to Mr Gumbley but had a reply stating he has left the company and now a lady called Birgit Noormagi is handling the account she is a quality & training manager at MYJAR and its been going back and for for a few days now as i wanted them to prove it was my debt etc. The lady has replied stating i took out a £300 loan ion the 19th June 2012 and they never received repayment so with letter fees and intrest the balance now is £554 . I have asked for the credit agreement for the loan she then sent me one from 2011 for when i took out a £100 loan for 14 days. I replied stating its incorrect as you must have a new credit agreement for every new loan unless its a roll over loan as advised by citizens advice she then sent me a email with what she called a credit agreement but its listed as a Borrower agreement on drawdown of new loan ? she said it links onto the credit agreement i was first issued months before for a previous loan I don't understand the (Borrower agreement on drawdown of new loan ) and questioned her on it and she replied saying its 100% correct but as a gesture of goodwill she will now remove all the charges and intrest from the account and all i have to pay is the £300 that i borrowed. I find that offer very fair and will accept it but she is still refusing to fully remove the account off my credit report she states it must reflect the true account dealings and would show as settled. If thats the case why not show all the other loans i had with them as fully up to date and paid on time ? but i really don't want a payday loan on my credit file So can anyone tell me if there is anyway of getting this all removed from my credit report i.e if the Credit agreement is incorrect they could not be allowed to put it on my file ? ive seen them remove other peoples so Any help would be very grateful Thanks

I took out a lbl about 10 months ago I can't remember the name of the company but I was keeping up with payments and never had an issue. I then received a letter saying that loan's 2 go had bought that company and my loan was now owed to them. I wasn't happy as I've previously heard bad things about this company and didn't / wouldn't have signed any contract with them. I carried on paying the loan as normal but then lost my job. I have missed a few payments now and I have had calls from them saying they want to look to take the car. Can they do this as my loan wasn't taken out with them and I have never signed anything with them.

I'm just wondering whether anyone has any information on Rayners who offered door step loans. They seemed to operate in the Grimsby and Scun-thorpe areas, where one of my relatives lives and she's owes them around £1K. She was recently told by the woman who collects her money each week that Rayners have sold up and got out of the business, but still has to pay. My relative has had no information regarding this or anything else from Rayners in quite a long time. I've searched the internet for information about the company and searched companies house for them, and apart from a few leads which suggest they're no longer operating, there's not much information. Could someone please advise me on how to tell my relative to proceed? She has no issue paying her debt if it's still enforceable, but doesn't want to be paying for something which is no longer being collected or if the company has become defunct. Thanks in advance for any replies.

Hi, Ive just come across a thread about BH selling on to Skye, so have started my own.. . I only have 4 months left on the loan after 5 years. I had an agreement with BH that I have in writing, that if I continued to pay the monthly repayments on time (2 years ago) that the added interest, due to a few missed payments and an added 6 months to the term of my loan, without my knowledge, (even they could not see who had done it or why just that the dates had changed ??) that they would remove everything.. they had already removed over £1600 of wrongful charges, plus the payments they say they have received are not the same as the payments to them from my bank, they has less paid, I had asked for a SAR but not recieved this as of yet and the account went to Skye Loans with a different account number etc on 1st June ..worried now that the above will not stand , how do I best deal with this, will Skye loans have to honour the agreement I have in writing ??

hi quick q re the 25 yr write off re such loans. does it run from the last loan taken, or from the date of the first loan a/c number that all have been amalgamated into one re sale? thanks

Hi after several years of depression and spiral debts I now want to sort out my pay day debts. I am currently with Pay plan but currently repayment will mean I am 80 before debt free. Looking for advice to get debts reduced due to irresponsible lending. I am not trying to get out of the debts just reduce interest they currently have charged Quick Quid after 8 roll overs borrowed £750 paid £269 Currently with Arc still owe £1107 Swift borrowed £150 now with CCM paid £72 still owe £265 pay day express after several rollovers borrowed 750 still owe 1200 Nat west went overdrawn by £10 charged me £250 in bank charges Lending stream took out 4 loans 750 in total charged £2000 reduced to 1600 Most were irresponsible as they loaned money even though I had defaulted on a a payday loan Lending stream I defaulted and they still allowed to take another loan. They also went to my account 44 times one night and each time tried to take £5.00 till the bank stopped after 4th attempt How do I start to ask these companies to take off interest. My memory regarding the loans is a little sketchy as I was suffering from depression and don't even know if I took all them out

Hi guys. I would really appreciate some help with this. A member of my OH's family has run up at least £3k credit with Provident. She is very unwell at the moment and has been hospitalised and her doctors are concerned about the impact of all of this on her mental wellbeing. I've seen agreements for 2 loans that I think are currently running, costing £30 and £200 a month each, but I haven't seen all the paperwork yet. Her husband has been signed off sick from work and is only receiving SSP and possibly some benefits. This means he can't afford next week's payments - what can he do please? The other concern is that their finances weren't sufficient to fund this borrowing so it could be irresponsible lending. Should we be sending off an SAR please? Thank you for any thoughts you have on this muddle. HB

In today's Mail On Sunday. One of Britain’s longest established payday lenders has admitted that it was ‘slightly incorrect’ in calculating its interest rates, meaning that it advertised rates that were only a third of the true figure. The annual percentage rate of 433.71 per cent advertised by Peachy Loans on its website since early this year has now been increased to 1,256 per cent after a whistleblower alerted The Mail on Sunday and the Financial Conduct Authority. The APR was misstated despite the charges for the loans being virtually identical to rivals such as Wonga, Mr Lender, Pay Day UK and Pounds To Pocket, who all state their APR at 1,200 per cent or higher. The lower rate also appeared on price comparison websites. Payday lenders are now obliged to place their rates on at least one such comparison site Read more: http://www.thisismoney.co.uk/money/news/article-3025626/Sorry-rate-1-256-cent-not-434-cent-says-payday-lender.html#ixzz3WOAJ1sso Follow us: @MailOnline on Twitter | DailyMail on Facebook http://www.dailymail.co.uk/money/news/article-3025626/Sorry-rate-1-256-cent-not-434-cent-says-payday-lender.html Regards,John.

i have taken out numerous loans from sunny over the past 2 years. in total borrowed £2700 in lots of seperate loans and paid back £3800 all together . They are now still chasing me for £600 . Over the last couple of months i had a £25 payment plan set up with them and paid them last month they said i hadnt paid when i had and i had to send them bank statements etc to prove i had . i then missed a payment waitng for them to sort it out and they then sent me a default notice served under section 87(1) of the consumer credit act 1974 for £600 to be paid in full by 8/4/15. Any help on what to do would be appreciated, I am also having big problems with mr lender. I borrowed 750 back in october but ran into financial hardship . I offered £25 a month and an in depth i/e form . They refused . in December they sent me a text saying i owe £1700 .My online account balance was a lower amount. in january the 2nd the said was to be sold to mmf . Then on 11th january offerd me a settlement figure of £750 .But when i log in they say the debt is with mmf . As of today i have not heard a thing from either mr lender or mmf but want to get this sorted before it escaltes . Thanks for your advice on therse matters in advance.

Hi. I'm 24 and looking to go back into education in September (by which time I'll be 25) to study Animal Behaviour. I was told by a university this week that I would need either A Levels or an Access to HE course to allow me to apply. There seems to be plenty of funding available for university students, but I can't seem to find any for full time college students, as you can not apply for student living grants/loans until uni. I am living away from home and have been claiming ESA for a while now, but that will be ending soon. I know I can get a loan to cover the cost of any course and exam fees (from 24+ Advanced Learning Loan), but does anyone know of any help with living costs, or even any benefits I can claim whilst at college to pay for rent, food, bills etc? I don't know if this is the right place to post this thread, or even if anyone here can help, but I thought it was worth a shot as CAG has been very helpful in the past, and I'm struggling to work out what to do now after being turned down by the university. Thanks. Matt.

Hi all, I made a big mistake and took out a Ladder Loans loan for £400. Two days later I awoke in a sweat and knew I needed to make good this awful error. I telephoned them and notified them of my intention to cancel under the CCA 1974. I paid the balance of £401.61 and asked them if it would be registered to the CRAs. They said it would, which I found hard to swallow. I have cancelled the credit agreement in the cooling-off period and believe they cannot record the loan with the CRAs. Am I right in thinking this? Also, they have emailed me confirming settlement of the loan, not cancellation of the credit agreement. Are they trying to pull a fast one here? Any help is gratefully received. Thanks.

Hello i have posted a few times before about my situation but to quickly clarify, i have taken payday loans out in the past and these have had a negative impact on my credit worthiness. I recently applied for a mortgage with skipton and was declined due to my history of payday loans. I took out loans with Wonga, Payday UK, Lending Stream and last year Quick Quid!! With the exception of quick quid the other 3 loans were from 2010 to 2012. It got to the point were i was borrowing from wonga more each month and had deferred my loan with payday uk each month for a year, which meant it almost became like a monthly bill, and then borrowing extra from lending stream to make up the short fall. i eventually got to the point were i had to contact them and arrange a payment plan. This was with payday uk and wonga as i had settled the lending stream loan. Both Wonga and Payday Uk were contacted before the loan date, they asked for an income and expenditure they then offered me another deferral!! Then i was told that i had to wait until the loan was due and i missed the payment for them to consider a payment arrangement. Both Wonga and Payday UK have marked me as defaults on my credit report and i feel this was not accurate as i had contacted them weeks before the loan date express concerns for my financial situation. I want to write to both companies asking for the inaccurate information to be removed. I understand this is a long shot but then i would also like to complain to the FOS for irresponsible lending. I was just wondering if there is a good way to start, do i start with a SAR? if so is there a template, or is there simply a template for a starting letter. I know this was my fault but i feel these companies are vampires and needs one more person to start a complaint, I was in a vulnerable position at the time, i was young and im paying for it now. Any Help would be appreciated.

I've managed to pay off most of my loans now and with two left the light is at the end of the tunnel. The final two companies owed money are Sunny and Peachy. I am loathe to compliment any PDL company yet I have to say that Sunny did the right and correct thing by allowing me to repay in reasonable installments and frozen interest and charges. Of course, it's only the start of repayment plan and these places are known for trying to change the goal posts. Peachy on the other hand... good grief.. they have to be the worst. The offer of repayments forwarded to their "Credit Committee" (That'd be the bloke on the next desk then?) and aggressive emails to perfectly reasonable emails. Luckily it's been sorted now, but I really cannot wait for it to be cleared. I guess the point of this post is to say that it's important to stand your ground and don't let them pull the wool over your eyes... But remember.. in the case of Peachy.. WINK WINK

Hi, I'd really appreciate some advice on how best to tackle Ladder Loans. In summary I borrowed £2000, have missed a few payments but even so have paid them more than £4000. I'd now like to know whether a full and final settlement is the best option, or whether I can fight this and pay nothing more The details are as follows: 1 - Ladder Loans is part of Inventive Finance Ltd, which I've found out runs a network of payday lenders. I was offered £2000 in July 2013 on an 18 month repayment schedule 2 - The APR per annum is an eye watering 299%, meaning that according to the CCA (which I now have), I agreed to pay them £5031.36 for that original £2000! 3 - I made 15 payments of £279.82 on time, so I've already paid them £4192.80 4 - Due to further financial difficulties (problems with my business), I missed payments no 16 (end Nov) 17 (end Dec) and what would have been final payment no 18 (end Jan). They've added £12 penalty charges for each of the missed payments 6 - They've never written to me about these missed payments or about adding penalty charges, I suspect they have been trying to call my mobile though. I asked for the CCA about 10 days ago and it arrived on Friday. I'm now thinking of doing one of two things. 1 - Offering them a final settlement on the £862.56 they say I still owe, to get them off my back Or: 2 - Making a formal complaint and seeing if I can eventually take it to the FOS. I'd base this on them adding on penalty charges but not writing to me as well as the fact that I already paid them more than double. Am I correct in thinking that payday lenders can't now charge more than 100% of the original loan? Or did I read that wrong? Can a hugely inflated interest rate be challenged? I'd really appreciate which is the best of the two routes to go down. Do I have a leg to stand via the complaints route, or would I be best just offering maybe £300 (so a third of what's still owed)

What does everyone make of this ? It's a reply to my recent Statute Barred Letter to Honours Student Loans for a Loan taken out in 1994 Basically they are stating my Statute Barred claim is void because I haven't informed them of any changes of Addresses I've had, is this true? Do they have a case? Do I ignore the letter or reply? I'm guessing quite a few people would have received identical letters.. Thanks

Hi, So I've thankfully managed to pay off most of my Payday Loans. Had a bit of an issue this month with a flood at home so all of my income went to sorting that out and I'm now awaiting insurance money (Should be latest next week). I cancelled CPA from remaining lenders also. The last lenders I owe to are 24/7 & Peachy. 24/7 were kind enough to freeze interest etc. Until next Friday at which time I will pay off the remainder. PEACHY on the other hand flatly refused to freeze anything, Offered a rollover and said that the loan of 500 which with 150 interest and charges currently stands at 685 - Which I have said I would pay next week in full will be 790 and I will need to pay this amount next week. Any ideas. DD.