Payday Express **

[Willo53]

Hi Guys,

 

Does anyone have any knowledge of what these lot are like for repayment plans? Have had a few glances over older posts and saw a couple with varying opinions. I am aware they are just the Money shop in disguise, so I am wondering who is the best department to speak to regarding this.

 

I have a £500 loan and wish to set-up a £50 a month repayment plan with them - does anyone have good email address or any tactics to use before I speak to them on Monday.

 

As ever all advice welcome and gratefully received.

 

Best,

 

W

[jellycubes]

Hi willow, my experience is they re ok if you can send proof of change in financial circumstances, ie reduced hours at work, loss of job, illness or overwhelming debt. With this they seem to be very professional. Without this it is much more of a struggle to get a repayment plan but not impossible

[Willo53]

Thanks Jelly Cubes,

 

When you talk about proof of overwhelming debt or a change of circumstances - what format would this need to be in?

 

Are we talking just an excel spreadsheet with all outgoing or something else.

 

Cheers

 

W

[cornetgirl]

I sent them I&E and that worked for me. They tend to be ok if you give them a bit of paperwork.

[Willo53]

Thanks,

 

I & E it is then!

[robjam1969]

Make sure you are economical with truth on I/e form so you offer a figure that suits you. By rights they are not entitled to it but if it gets you interest frozen and affordable monthly payment then not such a bad thing. They will eventually reach agreement whether you submit I/e or not.

[Willo53]

Thanks Robjam,

 

Was thinking the exact same myself. I was considering £100 a month but I don't want to leave myself too short, so £50 will have to suffice.

 

Its a £500 balance so they will have to make do with this for the time being - is £50 the lowest amount DCAs tend to agree to on repayment plans?

 

I must admit I have never paid anything lower than £50 but I know they usually try and barter wrth you to pay 3 figures each month.

[Jamie Kingston]

you should get by ok with £50.00. i think they would be more inclined and probably make it easier for you if you did £75.00 for 6 months... only if you can afford it though.... eitherway your offer is fair and shouldnt be an issue.

[jellycubes]

50 pounds is a generous figure and one i think they would accept. Dont leave yourself short or over stretch yourself as if you miss a payment due to an unexpected bill etc they come down on you hard and add interest on.

[robjam1969]

More than generous if you ask me. Make sure you get agreement in writing and frozen interest before you pay anything.

[Willo53]

Hey,

 

Rang these up today and they guy I spoke to point blank refused to set-up a plan. He said he would only set one up if I provided proof of my P45 and he would then set-up a £100 a month plan straight away. I argued with him for nearly 20 minutes about the fact that this would not be option and I did not have to do this by law. I have their email address, so I plan to send them an email stating whay my stance is on this.

 

Does anyone have any advice on what content I should put in the email? I was considering copying in the OFT and the FSA.

 

What a complete bunch of oxymorons!

[robjam1969]

Hi Willo

 

Just stand by your guns. Put you offer in writing (e-mail fine). No point in arguing with these lot over the phone. I would personally use phrases like 'I have made a reasonable offer based on my current cicumstances' and that my P45 is a personal document that you are only prepared to show to a judge in court. Also mention that other companies have accepted and are being paid at the rate you have offered. Point out no agreement means no payment.

 

Good luck

[Willo53]

Cheers Robjam,

 

I said the same words you mentioned over the phone about over companies not needing this documentation. They turned around and said it was their own internal procedures and it was a 'must' before any plan was set up.

 

I think I got the guys back-up by telling him the call was recorded and he then replied 'you have no right ot record the call' you can only do this if confirm before the call. I told my phone automatically recorded calls and I will decide if I see fit if it needs to be used as evidence later down the line to protect myself - he wasn't at all impressed.

 

Do you think there is any benefit copying in the OFT and FSA in on the email?

[Jamie Kingston]

i think you just got unlucky, normally they are ok with it... as robjam says, let them know your offer by email and when / if they contact you after you default they should accept.

 

keep us posted and wait it out...

[Willo53]

Thanks for the replies.

 

Email sent to them this morning. Decided to copy in OFT and Financial Ombusman in on the email, which states that I have been refused a payment plan with them over the phone.

 

Do you think they will climb down from their high horse now?

 

Will keep you updated as things progress.

[Willo53]

Still no reply from them - is this a usual delaying tactic that these apply. I have sent an email to collections@paydayexpress and info@paydayexpress

 

Any other useful email addresses which could be used.

[robjam1969]

They will reply when it suits. Don't worry about it and leave it with them. Whilst they dither they get no payment. I am sure you will from them soon

[Willo53]

Got a response. They want an E & I document sending over - does anyone have a template they can send over which I can use?

[Jamie Kingston]

no need, just fill out the i and e and be sure to include "all" your expenses so your offer shows correctly...

[Willo53]

These are a complete nightmare!

 

Sent them over an I & E and covering letter on Thursday night. After a few email chasers, I got a reply this lunchtime from a collections agent. He stated he has reviewed the documents and the offer seems reasonable. However, they stated the letter provided no dates for when my wage reduced down and wage slips must be produced showing where it has dropped from its previous to its present.

 

I have sent a response basically saying to get lost and I have provided ample documentation already and they have said its reasonable so accept it or thats the end of it. I made a point of saying when I applied for the loan no proof of wages was required at that point so why has it changed now.

 

They keep harping on about their own procedures anad how these need to be satisfied.

 

Do you think this lot will fold eventually?

[Jamie Kingston]

yes, stand your grounf, continue your current stance, waste of time and if they want to accept they can. their choice. dont ignore them just stand your ground, they will eventually call you, answer the phone and tell them all you;ve said in the email and ask for their bank details and email confirmation of acceptance.

[Willo53]

Cheers Jamie,

 

I think it is just a game of bluff at the moment - but they certainly like to make you put the effort in. I have copied in the FSA, Financial Ombudsman and OFT in on all the emails.

 

Do you think this will help to alter their approach?

[Jamie Kingston]

i dont think it would make a blind difference to them. the only thing that will alter their approach is talking to them and mentioning things like "payment can be made directly to your account today" and if youn cannot agree to this then i will be left with no choice but to use the money i would pay you to pay off another debtor - as you leave me no choice... dont be rude about it but be firm and ask for their help

[skyblue2027]

are these mongs still in business?

 

i had a whole lot of problems circa 2007 and am pretty sure that after my 2 debts left, these i may owe money to. after hounding me and me not paying, ive had a deadly silence for 3 years!

 

i still await a DCA letter but its still 3 years and running.........

[HFwho?]

I have been on the phone today in exactly the same situation as you. I owe £500 and they are saying I can't set up a repayment plan unless I am unemployed, argued for about 20 mins then the women put the phone down on me.

 

If I became unemployed they wouldn't be getting anything so why won't they except my £100 a month offer. What's also annoying is they said it will affect my credit rating? I've just this month got that back to normal and really don't want that on it! Can it affect your credit rating.