Rapid Cash/payday Loan **

[postggj]

Trying To Find A Thread On This Lot And They Issued An N1 Court Claim Against This Cagger

 

Strange As Payday Loans Dont Go Legal

 

If Anybody Finds It, Post A Link

 

Thanks

[PlumFairy]

They don't normally go legal I agree but I have seen a couple 'trying' to do so. I've read recently one about Uncle Buck?

[postggj]

good friend of mine has asked for my help

rapid cash have done an n1 claim

 

poc

 

rapid cash ltd are a small term money lender and are licensed under the consumer credit act, licence no 620650

 

mrs xyz has monies overdue under agreement no xyz. agreement noxyz was signed on xyz for a loan amount of xyz.

payment was due on xyz.

outstanding instalments amount to zyz.

letters were sent to mrs xyz on xyz and xyz informingmrs xyz that her account was overdue and asking mrs xyz to contact rapid cash regarding the overdue instalments.

no response was received from mrs xyz

 

 

its only 250 quid but i thought

sod it

 

lets give them some grief

[postggj]

interesting

 

just checked there consumer credit licence and it states

 

CHEQUE CASHING

 

not

 

payday loans

 

any thoughts on that

[robjam1969]

Hi post

 

Not seen this name on the pay day loans forums. Tower Capital and Debit card loans are the only ones I have seen issuing claim forms.

 

As you often state aboutCohens perhaps hoping your mate doesn't defend!

[postggj]

she got a bit upset but its only 250 quid

 

no probs in handling this but i want to make them work for it

[postggj]

if you find a link to debit card loans

going legal

let me know

 

post a link

 

thanks

[robjam1969]

Not sure about the licence but worth comparing with one of the other companies to see what their licence allows- say payday uk or payday express.

[postggj]

checking now

[robjam1969]

Post

 

The link I can recall never updated, definately in these forums somewhere, don't think you will get much from it if found.

[postggj]

well thats interesting

 

just checked out payday uk

 

there licence states

 

credit agreements/loans linked

[postggj]

so rapid cash credit licence is for cheque cashing

 

payday uk licence is for credit agreements/loans

 

 

with the licence status to trade

 

is there a difference

 

are rapid cash allowed to do payday loans as the credit licence states

 

cheque cashing

[robjam1969]

Interesting -maybe one for the legal forums?

[postggj]

any legal bods out there

[PlumFairy]

I'm no legal bod, but I guess it may have something to do with the way they do the pay day loans, was it a cheque one?

[postggj]

as far as i know its paid into her bank account by chaps

 

i think they stung her an extra 15 quid for that

 

same day transfer

[postggj]

bump

 

any takers

Edited October 15, 2009 by postggj

[postggj]

bump

[postggj]

Realy Need An Answer On This

 

If A Payday Loan Company Only Has A Credit Licence For Cheque Cashing,

 

Can That Company Do Loans

 

All The Other Payday Loan Companies Have A Credit LICENCE For Loans/agreements

[robjam1969]

Hi Post

 

Most of the users in this forum will probably struggle with this issue (I could be wrong!). I would have thought you would get a better response in the Legal or general debt forum.

[postggj]

Thanks Rob

 

Sent A Message To Site Team To Request Transfer To Legal

[Ell-enn]

Post, did she have to send them a pre-dated cheque to repay the loan?

[MARTIN3030]

Thanks Rob

 

Sent A Message To Site Team To Request Transfer To Legal

 

 

 

Sorted.

[postggj]

No

 

It Was An Internet Application

 

Funds Sent To Bank Account Same Day

 

No Cheques Involved

 

All On Line

[Ell-enn]

OK, just wondered - some of the payday loan companies stipulate you have to have a cheque book. Was the repayment supposed to be by direct debit?