Hi there, i have a dispute with Minicredit, i took a £100 loan out with Minicredit on the 19th April missed my loan date as i was paid 2 weeks late (contractor and timesheets sent in late) and was unable to pay the loan, i was unable to pay on the website as they removed the option to send in payments and thus i sent emails to them which they claim i never made contact till the 9th may (20 days later) and so i disputed the charges with them that they added on and coming to no arrangement (pay up in full or else!) it was still ongoing, i received a letter today claiming i now owe them £714... that is just absurd and now purely profit making. the letter i received is as f ollows surely this is not legal? how can they justify such high fees? what can i do about this? any help would be appreciated.

hi all,i wont bore you with the ins and outs of my loan,but top and bottom is i cannot afford to repay it at this moment in time. i have told minicredit and started a negotiotion /discussion with them. they have sent me this and i just wondered if the charges were legit,it seems exessive to me on an original 220 quid loan to owe 500+ i would appreciate if anybody who has had more experience with them could advise on how i proceed from here The first option is a roll-over. Roll-over is available 3 days before the due date and allows You to extend the loan for up to 30 days if You think that in 30 days Your situation will omprove. To apply for the roll-over You have to pay the interest up to date and extension fee of £15.00 however the roll-over depends on Your credit check results and might be declined. The second option we are able to provide You is a settlement plan for £511.68. We provide all our clients 120 days from the due date to make payments of any amount towards their outstanding balance. Your current loan is not even overdue which provides You 135 days to make payments of any amount. You would need to make at least one payment a month towards the balance and clear the whole remaining balance by the 7th of November 2013. The third option is a long term payment plan. We are able to accept the amount of £561.68 repayable under a payment plan through our payments collection partner. The payment plan balance consists of the following: 1. Original due date balance £300.08 2. Default charges £40.00 (Unless the loan is repaid in full before the 4th overdue day) 3. Interest for our default period of 60 days £171.60 (Will not increase even if t takes You a year to repay the Loan) 4. Debt recovery fee for setting up an alternative payment arrangement £50.00 The contractual interest rate is 1.3% of the principal per day from the date of issuing until the 60th day after the chosen due date. The above described overdue charges and interest are in accordance with the Loan Agreement. When choosing a long term payment plan option, a default will be marked on You credit reference file immediately but You will be able to make payments during a longer period of time. Kind Regards, MiniCredit Hardship Department hardship@minicredit.co.uk thanks for any advice guys just for reference sake this is the current state of my account 2013-06-12£220.00£257.18£290.182013-07-10Active loan

I had a payday loan with Minicredit due out on the 1st of this month. I contacted Minicredit via email on 2 seperate occasions a few days after my repayment date stating that I would need to setup a repayment plan...I recieved NO response to the 2 emails I sent to two different email addresses I found for them online including their own internal email address on their website. They then removed £50 from my account around a week later which I requested be reversed by my bank to which they agreed and credited the funds taken. After finding another email address for them online I requested yet again that I setup a repayment plan to which I recieved this response Dear XXX A MiniCredit Claims Department member has replied to your claim, # with the following response: The following response is being sent to You according to the Formal Complaints Procedure. Microcredit Ltd (trading name MiniCredit) has received a chargeback regarding the payments debited from Your debit card. We would like to remind You that by signing the Loan Agreement You have authorized Microcredit Ltd to debit payments from Your Bank Account using the debit card details registered with us. It is considered fraudulent behaviour to file in a chargeback when You have registered and received the service regarding which the payment has been taken. We have no alternative but to forward the information regarding Your fraudulent chargeback to our Legal department and also report Your illegitimate actions to the National Chargeback Register. The National Chargeback Register will provide information to other Companies and will severely reduce Your ability to receive credit or other services in the future. We advise You to immediately contact Your Bank and withdraw the chargeback claim to avoid further Legal proceedings. 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 Can you tell me if what they are saying is correct and the best way to proceed please?

I have been trying since 30th January 2013 to set up a repayment plan with these ! And this is as far as I have got ! Dear I have considered the hardship application and can provide you with the following payment arrangements: 1. Settlement plan for the total balance £329 repayable latest on the 2nd of June 2013. This balance consists of the following: 1) Loan Principal £100 2) Interest 1% of the principal per day up to 02/06/2013 totalling £149 3) Overdue penalty £25 added on the 3rd of February 2013 4) Overdue penalty £55 added on the 5th of February 2013 Payments should be made at least once in every 30 days, but as we have not received any payments from you we expect the first payment of any amount (token payment) to be made latest on the 17th of February 2013. In order to follow the settlement plan, please make sure that the registered debit card has been cancelled with the bank, as the system will continue to debit payment from the card registered in our system. You may make payments towards the settlement balance by calling to our Customer Support by phone and authorising each payment via debit card. The settlement plan will help you avoid the default mark on your credit report, that should be marked on the 3rd of June 2013. 2. Payment plan set up with our debt recovery partner from March 2013 for the total balance of £379 at the rate £20 per month. This balance consists of the following: 1) Loan Principal £100 2) Interest 1% of the principal per day up to 02/06/2013 totalling £149 3) Overdue penalty £25 added on the 3rd of February 2013 4) Overdue penalty £55 added on the 5th of February 2013 5) 50% of the debt recovery fee £100 The account would be forwarded to our debt recovery partner in the beginning of March 2013, who will contact you and set the payment plan up. In order to follow the payment plan, please make sure that the registered debit card has been cancelled with the bank, as the system will continue to debit payment from the card registered in our system until the account is allocated to our partner. The default mark on your credit report will be marked on the 3rd of June 2013. Please consider the above and let me know your opinion latest by the 28th of February 2013. So I got back to them after this e-mail and said I have been attempting to pay the original loan of £100 (80 received only) by a repayment plan and they have made no attempt to get this sorted so meanwhile they are adding extra ! and I then received this Dear I understand that you are claiming that the cause of the unforeseen financial difficulties is being single. The information provided to us during the registration stated that you are divorced, but not living together. We are relying on the information provided before applying for the loan because we are not able to ask any supportive documentation with this cause. The only overdue charges are the penalties totalling £80 are considered payable with the settlement plan as interest is not considered to be an overdue charge. Interest is considered a cost of using the funds provided to you by Microcredit Ltd. As payment plans last longer than 4 months and set up by our debt recovery partners, the debt recovery fee £100 is considered the cost for the administration of the payment plan. Can someone help me as to what to do next ? Please

Hello, I requested that my bank blocked/reversed a payment I made to Minicredit with reference to a payday loan, I requested this because I was unable to pay the loan and I wanted the debt incorporated into my DMP with Stepchange. Barclay's at the time refused, claiming that I never requested this before payment date and the payment had already gone through, this was a lie because I did in writing. A couple of months down the line Barclay's have now out of the blue reversed the payment, Minicredit are obviously not happy and have sent me a letter accusing me of fraud and threatening legal action! I have just e-mailed them explaining why Barclay's have done what they have done. I have told them that I will now continue with adding the debt to my DMP as originally planned. Stepchange reduced my payments to other creditors when Barclay's refused to reverse the payment so that I could afford my monthly expenses, this could be addressed if Barclay's were to ever reverse the payment. Has anybody had experience with Minicredit accusing people of so called fraud? And has anybody had any luck with actually getting a Minicredit debt added to a DMP? As always sound advice is appreciated! Cheers

A few months ago I took out several payday loans, stupid I know but I desperately needed money, I lost hours at work and was only working 9 a week so couldn't pay everything back. Anyway, one loan was from minicredit, £100 but they only gave me £80 then said I needed to pay back £130. I called a week before telling them my situations and they said I can only have a repayment plan if I pay back £400 in total, I disagreed obviously so when I couldn't pay back the £130 they kept adding charges etc. it's been about 4 months since it was due, they sent me a hardship application before for a repayment plan but then I found out it is to repay all the charges which was like £600. The letter I recieved the other day was something like "the account will be defaulted on the 2nd of may 2013... Forwarding the account to a payments collection partner... Willing to accept £527.50 as full or through repayment plan... The default will be marked on your credit file on the 28th may" So they are gonna mark it on my credit file because I can't pay their fees even though I sent them two recorded letters about my situations, I ended up losing my job then my dad passed away so things were hard, I've just got a new job but the hours are not guaranteed, I'm working about 10-15 a week still. What shall I do? What can I do apart from ignore them and refuse to pay? Will they take me to court? The breakdown of their charges Due date balance - £130 Interest until the default date - £120 Decreased failed debit attempt fees - £97.50 Debt recovery fee - £100 Overdue penalties - £80 And they won't take anything less from me. Also they have blocked my account on their website I also have payday loans which are passed due with PaydayUK Payday express Toothfairyfinance Wonga Quickquid. I have only managed to pay back amounts from wonga and quickquid as they have me reasonable repayment plans on not ridiculous charges.. I still owe wonga about £180 as I had to stop the £10 a week, and owe quickquid £40 left which should be paid soon. PaydayUK and express are useless and refuse to help. I can't seem to log on to the express website and they haven't been helpful at all. Toothfairy finance I apparently owe £900. Call me 8 times a day nearly but never answer.. Done with them. So what should I do in this situation, I'm really stuck now and worried about my credit file.

Hi there, I will try and be as brief as possible with this. Here's the deal: Originally applied for a loan with Minicredit 04/03/11 and was declined. Re-applied and was granted loan on 04/07/11. Sent notice of cancellation within 14 days, as per CCA 1974 on 12/07/11. At the same time informing Minicredit, as per rights under that act, repayments would be made within 30 days by Faster Payments, and could they please supply bank details. I also informed them that I no longer authorised them to use my card details. Here's the breakdown of events: 04/07/11 Received £130.50 (£150 less £19.50 deducted without an explicit acceptance of that) 12/07/11 Notice of cancellation given 05/08/11 Minicredit takes £85 from my debit card having still not forwarded bank details 10/08/11 Minicredit takes a further £50 by debit card It was at this point, having repaid £135 which was in excess of the £130.50 I had received that I refused to pay them any more until they agreed that the total payable (as calculated via their website) was £189. Thus I believed I actually owed them £54, but they had received more money than they had paid out (as well as a random £2.50 fee for something). Minicredit claim that my cancellation was incorrect as it was after 14 days from 4th March 2011 when I originally applied and was rejected as that agreement was in force. Well, if that agreement was in force, how come I couldn't borrow against it? AND, why did I have to signed another pre-contract agreement and Minicredit perform another credit search before being allowed the funds on 4th July 2011? They continued to bombard me with calls telling me how many hundreds of pounds I owed them ... Anyway, wind forward 600+ days and I checked my credit file with Noddle and discovered a Default from Minicredit for £547! I didn't even bother writing to them as I'd got nowhere chasing them for months long before. So, instead I wrote to Callcredit with a Notice of Dispute. Minicredit didn't reply within 28 days (there's a surprise) so then entry was suppressed. However, when they did reply, they sai they thought it was valid and thus Callcredit unsuppressed it. I have outlined by grievance about the default to the ICO following their complaints procedure, and included that with my letter back to Minicredit, but suffice to say Minicredit are sticking to their guns, although I now supposedly owe them in excess of £800. My question is how do I resolve this? They say they will not remove the detault without full payment, which is ludicrous. I assume I need to take them to court, and I have no issues with doing that, it's the how I am not sure of. What exactly do I claim for and even then, would that get the default removed? As far as I can see, of OTF664, they have flouted at least 2.2, 3.3j, 3.3k, 3.3l (your number is still listed as an 0871 number), 3.5g, 3.7a, 3.7o, 3.11a and 3.11d yet still think their action is valid. Please help! Thanks, Tim.

hi, i just received this via e-mail by minicredit. my question is should they have served me a default notice under sections 87 and 88 before this. This Notice is given pursuant to a Credit Agreement regulated by the Consumer Credit Act 1974 ('the 1974 Act') between us and you dated ............ ('the Agreement'). We provide this Notice in compliance with the 1974 Act. We hereby give you notice that the following default sums have become payable by you under the Agreement which have not been the subject of a previous notice of default sums: Amount of default sum Nature of default sum Date on which default sum became payable under the Agreement £25 Charge incurred when we unsuccessfully attempted to obtain repayment from you on the due date for repayment by debiting your bank account (refer to the Key Information section of the Agreement and also clause 8 of the Loan Conditions within the Agreement). ........ 2013 £55 Charge incurred when we again unsuccessfully attempted to obtain repayment from you 3 days after the due date for repayment by debiting your bank account (refer to the Key Information section of the Agreement and also clause 8 of the Loan Conditions within the Agreement). ........ 2013

Hello, I am a new user on here and would like some advice about an issue that i am having with a mini credit pay day loan which has been sent to the debt recovery agency of Opos. I have always had a good credit history with my bank and other financial institutions my whole life until about a year ago; I needed credit in order to pay off credit cards, overdrafts and to assist my parents. I was using loans and other credit facilities in order to pay off other debts. I had got myself into a pickle as my hours at work were severly cut instead of being made redundant. Eventually it got the stage where i was taking out payday loans in order to pay the debt repayments that i had on other debts. It got so bad that i was getting very depressed and suicidal and eventually i thought that i can no longer bury my head in the sand and sought the help of a debt management company. All my other debtors have agreed to the plan but it seems that mini credit will not accept it and have sent the debt to Opos. My inital payday loan was about £450 with the repayment total of about £850; when the debt was sent to Opos; i started receiving letters saying that the debt now stands at £2700. My debt management company is saying that Opos will not accept anything off of them and will not freeze any charges or interest as that they are saying that it is fraudulent as i took out the payday loan within 30 days of starting on the debt management plan. I have had multiple phone calls, voicemails, texts and emails off of them but after reading some stuff on the internet about them; i feel frightened to speak to them. I am at a loss of what to do and would like any support or advice off of any of the other forum members that are in the same predicament as all it keeps saying in all the emails and texts that i have had from them is that they will escalate it to the next level; what does this mean?? Any advice or support relating to this would be most assistive Many thanks

Well, It's the same story as most people on here.. borrowed £100, got £80, work hours got cut and everything piled on another.. called them to discuss a repayment plan a week before it was due but they said no and now i'm owing them like £700, within 1 month. I refused obviously.. I don't answer there calls, I sent a complaint letter pretty much explaining everything and how I now don't have a job and I will not pay anymore than £200. They sent me two letters, I'm not sure which one I got first.. one says about door step collecter etc which date says 21st feb and they will come some time next week apparently.. The other letter says 19th feb.. I've been away from 22nd until today so they must of both came either saturday or today in the morning. Anyway, second letter is about a hardship, regarding my complaint they activated a hardship application where I put my expenses and income etc then sign it and fax it. I have no income.. I lost my job a couple of days ago, no income.. only outcomes, like i'm in debt and have nothing coming in.. I need to sign on but that will take 2 weeks or something. and I only got paid £28 which had to go on bills, transport etc. So how will this hardship thing work? and if it is a repayment plan how much are they expecting me to pay back cos i can't pay the 700.. Also, Shall I sign it? or just print my name twice.. please help!

Hi I am new and a bit desperate please excuse me. I have had various Payday loans with the Minicredit, always paid them back - no problems however, yesterday I got a default notice saying that the loan had not been paid. I immediately checked with my Bank (Barclays), who told me it had gone out and they told me the time it went and also the authorization code from them!! Rang Minicredit, and informed them of all the above (they said that because I moved and hadn't updated my records with them - I moved on the 12th January and to be honest I plumb forgot, they said that because the money is pending... I have defaulted!! . I re-checked with Barclays (who I have to say have been extremely helpful) who said it is upto to Minicredit to claim the funds - I am quoting what Barclays said "it is their responsbility to claim it". I have emailed Minicredit and told them all of the above. I also filled out a complaint form. I will not ring them again, its 0871 number (so they can make even more money from me!). I haven't updated my address with them....I am too scared too! they are saying that I now owe them £55 plus another £25... the alleged loan default is 1 day old... geez these people are a nightmare!! Anyone got any ideas how to deal with these dreadful extortionate people? Thanks and any help gratefully received, I am so upset my hands are shaking as I type this!!

Hi I set up a plan with Step Change (formerly CCCS) and Minicredit is not happy. Apparently they don't accept DMP's or something like that, but what is more strange is that I recieved a call from Step Change saying that I should contact them to tell them to send the debt to a third party so Step Change can deal with the debt. (DCA or something). I don't know.. it doesn't makes sense to my, this is the email I received from them, what should I do please? Thanks! "Microcredit Ltd does not deal with debt management agencies directly due to the Loan Agreement and the payment methods we have to accept under it. All Customers have to make payments with a debit card according to the Loan Agreement and that is something the debt management agencies usually refuse to do. If You would like a Debt management company to act on Your behalf they would still need to honour the Loan agreement You have signed with our company. The debt management plans also last over 120 days from the due date so that the default on the credit reference cannot be avoided. When the loan is defaulted the account will immediately be forwarded to our Debt recovery and Legal action partner. They will then decide whether a payment arrangement can be set up with You if the payment offer is reasonable or start Legal action to have the Court order set on the payments. You are able to choose between 3 payment options: settlement amount paid in full immediately, settlement plan and payment plan. The settlement amount has to cover the loan principal amount, interest 1% of the principal per day and overdue penalties of £80, the debit attempt fees are decreased depending on when You notify us regarding the financial difficulties. The settlement payment can be made with a one-off payment with interest added up to the date we receive the payment. You may also clear the settlement payment by partly payments latest by the 120th day overdue if You wish to avoid the default status on the credit reference. The interest calculation will end with the date of the last payment. The settlement amount with default date interest can be repaid over a longer period through our debt recovery partner with a payment plan but this option will include a default on the credit reference. Microcredit Ltd has provided the Customers, who wish to apply for the payment plan, the possibility to fill in the hardship form on the online account. Many Customers do not wish to set up a long term payment plan with our debt recovery partners as they are able to settle the account within 4 months from the due date. Please bear in mind that Microcredit Ltd is not able to stop the automated debit attempts so if You have the possibility then cancel the card that is registered in the system."

Hi, I have been looking at the pay day loan forums for the last few months as like many of you I've got myself into terrible problems The main issue I have had has been with Minicredit, who are incredibly difficult to deal with. I have had an outstanding balance with them since September last year and now the total amount I owe is over £1000. From looking at previous posts from other Caggers, I have seen that Minicredit do not negotiate with debt management companies (I am currently in a DMP) and are quick to issue CCJ's. Now the last letter I had from them was stating that it was the final chance to pay before they started legal action. I had manage to come to the agreement with them that I would pay the original loan amount and original interest which was about £520 but explained that I couldn't pay in one go. They then rejected my offer to make 4 payments to total the £520 and since then they have gone quiet. I was preparing myself to receive the CCJ when I get a call from Fredericksons debt collection agency saying that they are acting behalf of Minicredit and did I now want to make a payment. I explained to them that I was in a DMP and gave them contact details of the company and they haven't bothered me again since. Now I am wondering if Fredericksons are going to try and take me court instead?? My DM company said that they negotitate with them all the time so they are likely to accept the repayment plan but this all seems completely out of character for Minicredit given the way they are known for behaving. Has anyone else had a similar experience in that Minicredit have sold the debt on and you've been able to negotiate? I'd be really interested to know!

Please help, my mother in-law had over the festive period borrowed £250 because her employer thought it would be a good idea to not pay his staff before christmas but late and at the end of the month!!! sorry bit of a rant there. She has so far paid back £280 but they are chasing here for more and have sent her a threatning letter demanding £493.98 inc debt recovery cost???? surely this is extortion seeing as she has paid back what she has borrowed at least + £30 even if it had been a letter asking for another £100 it wouold have still been extortionate but something she would have paid, but this is worring her sick!!! any info would be fantastic Thanks in advance Baz4iow

I have a mobile phone monthly contract with Talk Talk; I noticed a charge of £ 4.61 to an 0870 number which after a brief search turned out to be to Minicredit. Now I am a fairly sentient individual who does not go off in trances making phone calls, even if I have defaulted on a loan with them. The point is, there is a charge now for £ 4.61 made on 31 jan 2013 on my bill because I apparently rang this number and was on the phone for 13 minutes !!!! I beg to differ ! I was at work at the time and would remember if I had rang them yet alone go to all the trouble of finding it!!! Beware, they have ways - no I am not paranoid either!

I took out £200 with TFT end of October I think and deffered it a few times then it was due end of December and I contacted them 2 weeks and a week before saying I was struggling due to other bills and my work hours going to 10 hours a week which meant I was only getting £50 or something a week.. They weren't interested now it's been passed on to MHB and NDR, getting the same threats as everyone else and apparently now owe nearly £700.. I sent a letter but don't think they got it.. I spoke to them once on the phone and were not helpful and said to pay £400 and I only want to pay £272 (what I owe) thing is I could probably only afford to pay £10 a month at the minute then maybe more once I get a better job.. they won't come to this agreement though so what do I do? They are threatening me saying probably things you already know about coming to my house and work (where I don't work any more) and threats with a CCJ. Do I just do nothing now and wait or what shall I do because they won't listen to me. I'm also having a pretty much similar issue with MiniCredit, I took out £100 and now owe £380 apparently when it should be no more than £200, I don't know what the legitimate charges would be.. I know it was £130 I originally owed and told them a week before I could not pay all and they said I could only pay monthly/weekly if it totaled to £400, Obviously I said no, I'm not paying and extra £250 just for a repayment plan.. I'm 21, depressed, only get about £40-£50 a week. Have to get food shopping, I also pay money towards gas, electric and water to my mum about £10 a month, Then I am also still paying off QuickQuid and Wonga a little bit each week so I can't break that. Please help me on my next steps!

What is the email address for minicredit to actually talk to them rather than having their automated questions.

Hi there, First time posting on here but i always look around CAG. glad you guys and gals have this lovely little help service Im also in trouble with Minicredit which has now escalated to Opos debt collection I orginally took a loan out just after i lost my job to help pay my rent, i took a £100 loan which they charged me £20 fee for transferring the money i defaulted on the loan and they email me with "you owe us £233" thats to start with, after 2 months i recieved a letter through the post (delivered by the postman) stating they are charging me £100 for doorstep collection. .. nobody has ever knocked my door or i would have spoken the representative, a month later the same thing, postman delivered letter, £100 charge added, no person knocked my door, i email them 3-4 times saying i would not pay the amount they asked for and used an idea of offering the original loan amount plus 1 month interest, i had no response from minicredit.... 3 months passed and i recieved a lovely death threat email from Opos saying i needed to pay £1062 immediatly or court proceeding will be filed with 28 days, i emailed them just now and told them to send it back to minicredit as i will not pay £1062 for a £100 pound loan far as im concerned they can come collect the orginal loan amount and 1 month interest tomorrow if they want i got the cash in my kids saving account. what action can anyone recommend as i feel very worried that my son's saving account may be empty by christmas 2013 please help me

I have offered them original loan plus one month interest, less payments to date (I only made 2 payments because they were charging £5.50 for each part payment:jaw:) They have responded to me just now with this: A MiniCredit Claims Department member has replied to your claim, #389284 with the following response: The Following Response is being sent to You according to the Formal Complaints Procedure. The total outstanding balance GBP1066.00 from the date of issuing (31st of March 2012) until the default on the 23rd of August 2012 consists of the following: 1. Loan principal GBP100.00 2. Interest in total GBP146.00 (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 GBP640.00 (every unsuccessful attempt to receive the repayment costs up to GBP5) 6. Debt Recovery fee GBP100 (was added on the 30th day overdue) Microcredit Ltd has received payments from Your debit card towards the outstanding balance in total of GBP20.50 between the 12th and the 28th of June 2012. The mentioned partly payments did not cover the full repayment but have been deducted from the outstanding balance. The current outstanding balance that is GBP 1045.5 Microcredit Ltd received the loan application for GBP100.00 on the 31st of March 2012 which was approved and the funds were made available on that day. The due date of the loan was chosen to be the 25th of April in the amount of GBP125.00. Microcredit Ltd received the first correspondence from You regarding the loan on the 18th of June 2012. (54 days after the due date) when You contacted our Customer support. Although since the due date we sent out more than 15 TEXT messages to the registered mobile phone number, e-mail notifications to the registered e-mail address, automated voicemail messages to the registered mobile phone number and by that time two letters via post. Until the first contact is made by the Customer, all the overdue charges are justified. Microcredit Ltd provides short term payday loans. The Customer chooses the due date him/herself and it is also possible to apply for the roll-over latest on the due date and keep the loan for another period of time if the credit check result allows You to. The Loan Agreement was signed by Yourself and sent to the e-mail address You entered on our webpage during the registration. According to the Loan Agreement You have to make all payments with a debit card and the only possibility to make payments is available on Your MiniCredit.co.uk online account. We accept all payments You make and may provide You up to 120 days from the due date to clear the balance before Legal action is started. All the overdue charges and interest have been added to the balance according to the Loan Agreement and will be added until full repayment. 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. Interest on any sum in arrears will be charged at the contractual rate, both before and after judgment, until payment. Also, you must pay us all other reasonable costs and expenses we incur (including any legal costs on a full indemnity basis) in tracing you, or enforcing, or attempting to enforce, our rights under this Agreement. Repayment, Default and Recovery 8. You agree to make all payments to us under this Agreement at the proper time. We will collect payments by debiting your bank account using the debit card details you have registered with us up to three times per day. You authorise us to debit your bank account to collect payments due under this Agreement. If we are unsuccessful in collecting payment, we may try to debit your bank account again at a later stage until we have successfully collected payment. If you have provided us with details of a second debit card and we are unsuccessful in collecting payment from the first debit card, you authorise us to seek payment via the second debit card in the same way as you authorise us to seek payment via the first debit card. You must give us new valid debit card details when you cancel, lose or your debit card(s) registered with us become(s) invalid when you have unpaid loan with us. If you cancel your debit card registered with us and do not provide alternative debit card in 14 days we may add all the default charges described in the Key Information and potential attempt fees regularly charged until default date what is 120 days after the due date to your loan balance and refer your account immediately to our debt recovery partner. Microcredit Ltd considers that all the overdue charges and interest have been rightfully added to the outstanding balance according to the Loan Agreement You accepted. Microcredit Ltd has now forwarded the account to our Debt recovery and Legal partner Opos Limited. In order to agree on a payment plan or to discuss a settlement please contact them. However the amount that You have offered is not considered as a reasonable settlement as by the time You made the first contact with Microcredit Ltd Your balance was already more than GBP700.00. 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 What do I do now? I don't want to deal with OPOS as the chap who rang me was both aggressive and intimidating (I did make a note of his name). Do I carry on fighting? BTW £640 failed debit card transactions??? (128 times) Also to add that I did tell them that I couldn't make outgoing calls from my mobile because it was on a call restriction (because I couldn't pay the bill!)

Hi there I would be grateful for advice dealing with these parasites minicredit. I took out a £100 loan which I knew I would be able to repay on my payday which i told them was 28th September. Technically we should get paid on the last working day of the month but often it hits our accounts the day before. I have 2 current accounts one for credits/spending and one for household bills. I am trying to pay off my overdraft on the one account so that I can close it as Lloyds tsb have started charging for the overdraft which used to be free, in addition to the the £25 a month account fee. I arranged to have my salary credited to the second account in preparation for this and had begun the process of changing over direct debits etc but as i still have some payments (including the mini credit loan) coming out of the account I plan to close, I transferred some funds into the account for this purpose. Mini credit charge £2 for changing your debit card details and you have to have funds in your account to change the details and i didn't so i couldnt give them the card details for the preferred account prior to the repayment date. I thought as I had told minicredit that my payday was 28th that the funds would be debited on 28th. I transferred funds on 27th for this purpose.On 2nd November i noticed an email from minicredit stating I had defaulted, I was really confused. I logged into my account with them and my loan was showing as overdue. I looked at my bank accounts and it became clear that minicredit had tried to debit the funds on Sunday 30th September - who gets paid on a Sunday ?? its not a working or banking day. As on Sunday my regular direct debits were in the system and earmarked to be debited the next day this did not leave enough funds for mini credit. Whilst I had the funds available in my other account for my direct debits(lloyds give you up until 3.30pm that day to pay in any necessary funds to cover recent debits) as mini credit had tied to take a card payment this was declined by my bank. I immediately attempted to make a card payment online for the full loan amount (which included a £25 charge. The payment would not go through but there was no reason why that I knew of. A while later I got an automated call from Lloyds TSB fraudline to my switchboard at work. I couldn't complete the request as we have an analogue system so I couldn't press the appropriate buttons.I tried calling back when I got home(as I had had a missed call to my landline) but you just get a message saying they Lloyds Fraud department have called and will call again. I emailed mini credit through their stupid web form query system and they told me that another £55 charge had been added. I asked them why they had not taken the funds on 28th when they were available and they said that I had told them my payday was 30th. They also said that more charges had been added for 'failed debit card attempts They said that I should take this up with my bank as to why the online payment wasnt allowed and that they dont refuse any payments. I should also add that they charge £4.50 for making a payment or a partial payment ! on top of everything else. I was not happy about paying these charges and whilst i had the actual amount payable I didnt have another £55 for the added charges so even if I had paid they would still have kept adding charges on top of charges. I have been sending them messages through their web based form and their replies have been unhelpful,rude and at times intimidating. They refuse to help in any way shape or form. They did say they would consider a reasonable request for settlement if paid in full immediately by debit card over the phone. They said if I pay on line it will just come off the balance. They have now started helping themselves from my account whenever they feel like it taking small payments of £15 and £25 up to 3 times a day when funds are available. They have taken my child tax credits. So far they have had £155 from me. The loan was for £100 and £137.50 was payable under the agreement on 28th Sept or 30th as they claim. The interest to date they say is £58 but there are default fees of £80 and a 'broken agreement fee of £100 !plus failed payment charges of £5 up to 3 times a day. My account shows a debt of £340 and has been passed to debt collection but they are still debiting from my bank and have taken £155 already. I offered to pay them what I owe plus interest several times but told them I will not pay these ridiculous charges and I will not speak to them on the phone or give my debit card details to anyone over the phone. Up to now my bank havent allowed any payments if there have been no funds in my account but yesterday they allowed minicredit to take £25 making me overdrawn. I rang lloyds and explained the situation and they refused to help. I asked for a chargeback but they refused. The guy said that debit card payments are promised payments and they dont get involved with payday companies. I have already downloaded a form for the fos and the guy said to get this sent off as they would sort it out and look at the circumstances fairly but Lloyds wouldnt get involved. In the meantime they said they would continue to make any payments to mini credit and charge me if I go overdrawn because they have no choice as they are promised payments. I said to him if these debit card payments are promised payments why did they not let the original request for the full amount go through on 30th Sept. I would then have been able to move money , job done. I asked to speak to a manager. The manager said that large debit card payments can be refused but not smaller ones so the agreed repayment of £137.50 wouldnt have been allowed. He told me there is nothing they can do to help me and I should phone minicredit . I explained that I had already tried this but he wouldn't budge. I explained that I wanted to close my account and he said if I could go to a branch and pay in enough to cover my agreed overdraft and the unauthorised amount by 3pm they could close my account provided only if mini credit hadn't earmarked any funds !He said it will be in the minicredit terms and conditions that they can take these amounts. I agree this may be the case but I thought that you can remove authorisation for recurring payments. He said payday loans are separate issue. I have since done some reading up on here regarding chargebacks and it appears Lloyds are in the wrong and they should action my request and do a chargeback and not authorise any further payments. Can I get this chargeback and can I stop the payments. I dont have the funds to close the account at the moment and am incurring daily overdraft fees on top of everything else. Mini credit have sent a 'doorstep visit' letter. It gives no postal address for mini credit. I have emailed them telling them I do not consent to a doorstep visit. I have also told them I will not speak on the phone only in writing or email. I have also emailed them telling them I have removed my authorisation for them to take card payments.I have taken people on before and am quite knowledgeable about my rights, alot of it learned from this site. I will not be intimidated by them but this lot are the worst I have ever dealt with and after reading others experiences I am worried that my debt will just keep increasing , I now owe £500 for a £100 loan of which you only actually get £93.50. Mini credits complaints dept said they will accept as settlement the amount borrowed £100, interest to date £58, default charges £80 but they will waive some of the failed debit card fees (which stand at £159) and the £100 broken agreement fee.This means they still want £238 plus a percentage of the £159 ! but that is still increasing. I responded saying as they have already had £155 I will pay them £3 which is the remainder of the interest at that date. I await their reply which I am sure will not be a welcome one. 2 things here , how do I tackle mini credit ? If it goes to OPS which I understand is their in house debt collection, can they enforce all these charges on top of what I have paid them and do my bank have to comply with my request not to pay them any more money and to do a chargeback on yesterdays payment ? I am going to send a complaint off to the FOS but I am worried about them continuing to take money from me in the meantime. Please help ,what should I say to my bank and who should I speak to ?

Hi im a young male, and has recieved a letter from mini credit saying i took out £80 loan which now has turned into over £1,000 (which i didnt and have no knowledge of this) so went police station and was told to ignore it, which i did, then got a letter saying about people coming my house to collect my money, i told them if they come there causing trouble and the police told me they aint got the right, so i ignored them again but i replied to all there letters and even phoned and they were really rude, and recently got a final notice letter saying: FINAL NOTICE OF INTENT "We have been advised by Opos Limited that you have refused to make payment or agree a suitable repayment plan on your account despite them being unaware of any reason you may have for avoiding this matter. We are therefore left with no alternative but to consider your account for recovery of the outstanding balance through your local County/Sheriff Court. Court fees and Solicitors costs will be added to the balance for which you are liable, plus statutory interest, which will accrue at a rate of 8% P.A above base whereby the following action will be considered upon receipt of judgement/decree:- Arrestment/attachment of your earning at your place of employment securing monies owed via an inhibition charge order against your property We trust that you will now give this matter full attention and remit to ourselves the full balance outstanding within 7 days receipt. Unfortunately should you choose to ignore this document then proceedings, if instigated, will be done so without further notice. We recommend that you take this opportunity to resolve this issue Should you wish to discuss this matter further you must contact within 7days receipt on .................... this is really causing me so much stress, but im reading online many people with this problem, and was told to ignore this letter, is that right to do ?

Hello, I am not new to this being in debt thing. I know DCA's have no power but here is what happend. I took out a loan with minicredit 9 months ago for £180, I couldn't pay on due date and 16 days later they took £420 from my bank account. I have considered this theft and have asked minicredit to return any money that does not belong to them. They refused. 7 months ago I recieved £80 from minicredit in my bank, I thought this was a partial refund on the £180 they owe me however this seems not to be the case. They claim I took out a new loan with them. I've had many email arguments with them, and asked for a break down of charges which they have provided me after 4 months of asking and I have also asked them to provide me with the contract I apparently signed etc which they have not provided. So for the past 5 months or so I have ignored them. Fast forward to 3 weeks ago, I get texts, emails and letters from opos telling me I owe £1061. Ahem. Yeah. So I sent an email to them, actually I sent 11 emails to them asking them not to contact me by phone and to communicate by email only. They sent 1 reply back telling me to phone them, I send them 4 emails back telling them that they are refusing to talk to me or reply and they are playing games. Then last week I get a voicemail from a guy called fitzgerald or something leaving me a 5 minute voicemail telling me I am the one ignoring them by not phoning them lol and telling me that if I don't phone them then they big boys called DRS or something are gonna come for me and I won't be able to do anything about it. Ha. So I emailed him laughing at him and telling him what I think of opos and minicredit and they are the ones not replying to me, even though I can by law require all comminication to be done by email which they are ignoring. So my question is now what? I am gonna wait it out. I dunno who DRS is, anyone know who they are? My issue is this, I no longer live at the address they have for me and all my mail is redirected to my parents house for me, so there is like a 3-5 day delay in me getting any letters which are sent to that address. Maybe some get lost, I have no idea. My question is, if minicredit take me to court, they letter would obviously go to my old adresss, what if I never get it and judgement is made without me being able to defend myself, how would that be fair? Last thing I want is not to know that I am due in court and being able to defend myself and the judge to make a judgement like money to come out of my wages every month or something and me not knowing until BAM I open my wage slip. I am not worried about going to court, I believe I will win and claim loss of income etc for that day and claim whatever minicredit owe me but the issue is, how would I know? All help appreciated.

Hi all, Quick question. A while back I took out a £150 cash loan from Minicredit.co.uk and unfortunately, the repayment was missed on the due date. A short while after the payment was missed, my bank account was raided by these people who took 3 payments of £25 in one day and then a further payment of £15 the next day (£90 in total). The remaining £60 remains unpaid. I am now receiving letters from them demanding I pay them in excess of £1000+ I intend to dispute this and am hoping I have legal advantage in this case because. 1) They did NOT tell me when they would be retrying my debit card and their charges resulted in 2 other direct debits being declined by my bank, resulting in £60 worth of bank charges. These bank charges subsequently sent me overdrawn and without an overdraft agreement with my bank, that resulted in further charges. 2) Surely they are not legally allowed to charge interest on the loan once it is defaulted (which should have been immediately the date is was originally due for payment) - The credit agreement effectively came to an end on that day and therefore, such charges cannot be enforceable? Am I right? I plan on writing to them and letting them know that I intend to pay them back the £60 that I owe them along with 1 months interest. I shall tell them if they refuse this offer that I will file a counter claim for the £60+ I was charged in bank fees as a result of their debit card transactions because they never told me when they would be attempting to take these payments. They were certainly not 2 days after the original payment date, as stated in their terms and conditions. I guess I want some reassurance that I have a case here and am I offering the right amount of money to settle the debt or should I just be giving them the £60 owed and telling them to dance for the penalty charges with are not enforceable?

Hi, I was a very good and responsible customer of Minicredit, I got a new loan almost every month for the last 2 years or so. Amazing if I think how much I spent on them.. anyway.. The thing is the company I work for, changes the payment cycle, that means that I will receive my salary one week later than usual. I took a 400 loan due next Saturday 3/11, I called them explaining the situation and saying that I will pay on Friday 9/11, and that is something I couldn't control. They said I should pay if I can because there will be many charges.. the operator said that.. and the charges are. £4 or so per day as interest. £25 on Saturday when they fail to take the payment £55 on Tuesday when they fail again.. I think is a bit too much... It will be over £100 just for 6 days ... and willing to pay in full and letting them know in advance. They said the system will anyway try every day to take the money. And that they will call me anyway.. even when they register my situation.. what kind of company is that.? Is there something I can do to reduce the charges? Thanks a lot!

Hi everyone - I am in the process of battling my way out of what was previously a massive paydayloan/credit card nightmare. I have managed to at least make some kind of arrangement or settlement with all of them, except MiniCredit. It has in fact taken me a couple of months to even get a worthwhile response, but now that I have, and managed to get some kind of dialogue going, I have got the following response. This was after several E-mails and phone calls in which I was hoping/attempting to get them to settle for the original loan amount plus 1 months interest. Anyway this is their latest, and presumably final offer for settlement. I would like some advice as to whether this is something I should consider proceeding with (my father has offered to help me pay it off if so, but I would of course rather pay off something else with the extra funds) - original loan amount for this loan was £400 and I had had 13 loans with them previously which were all repaid on time. Any and all advice will be much appreciated. Here is their latest offer: Dear Mrs xxxxxxxx Microcredit Ltd confirms that we are willing to accept £893.00 as a full and final settlement if repaid today on the 24th of August 2012 over the phone with our Customer support on the number 0871 890 3015 before 8PM. The current outstanding balance is £1468.00 The settlement amount consists of the following: loan principal £400.00, the daily interest for the time the funds have been used (1% of the loan principal per day) currently £428.00 and the two penalties £80.00 for breaking the Loan agreement. We are willing to waive off all of the failed debit transaction fees £475.00 (£5.00 per every failed debit attempt) and the debt expense recovery fee of £100.00 added on the 30th overdue day. The settlement offer will increase daily by the contractual interest £4.00 per day. The settlement offer is only valid in case our automated system is not able to collect the full repayment from the registered debit card meanwhile. Once the payment is made we will not have any further claims against You. The account should be cleared latest by the 28th of September 2012 to avoid Legal proceedings and a default on Your credit file. Kind regards, Minicredit Claims Department