Minicredit -advice please

[sillygirl1]

If you were in hospital they should have showed common sense, you MUST complain about that to the Office of Fair Trading, the Financial Ombudsman can do NOTHING, the OFT CAN.

[Cash_flo]

The email address seems to bounce back telling me to send it from my account with them. When I try to send it from there it refreshes back to the homepage *sigh*

[joeboy]

Hello all,

Yes, Yes I’m another victim of the loan shark minicredit, I’ve read nearly every comment made on minicredit and thought I was doomed. But some progress has been made! Firstly I contacted The Financial Ombudsman Service. I made a full complaint about not being able to complain about the company, as getting thought to anyone is a challenge. None replies to emails/ threatening on the phones. They have 8 weeks to fix the complaint, As stated by FOS. But I’ve still not received anything from them!

But the big step is.... I called The Office Of Fair Trading which are take action for me! Harassment being the main part. Text messages every other day / letters about doorstep collector and the interest, All of which the lady at The Office Of Fair Trading said was unlawful.

Within the next three days I will know more about my case as the paper work is being sent. Please, Please follow the same steps and together we can stop these huge loan sharks.

I will keep you all updated when I know more.

JoeBoy – Much love

[Delboy01]

Delboy, If you defended, you will have recieved a Question Allocation from the court. If you returned this, then Minicredit will have to of returned their QA in order for the case to continue. You should of been notified by the court if the QA had been recieved.

 

Do as Sillygirl says, phone the court immediatley and give us a update.

Fagin I havnt received an AQ. MC have Done nothing apart from lodge it with the court, I sent my defence in and since that nothing. Whether MC thought OH would cave in at court summons I dont know, perhaps they dont want their charges and interest put before a judge.

[Delboy01]

Wierd!! this whole thread also appears here http://boardreader.com/thread/Minicredit_urgent_urgent_advice_8qjo3X5zsv.html?o=0

[indebt00]

delboy, how isit going with minicredit? X

[carnival95]

The Following Final Response is being sent to You according to the Formal Complaints Proceedure described in the Pre-Contract.

 

 

 

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 £25 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 £55. If we unsuccessfully attempt to obtain repayment we may charge up to £5.

 

 

 

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.

 

 

 

The current outstanding balance is £1635 today on the 7th of September 2011. The partly payments we received in total for the amount of £90 on the 20th and 21st of June 2011 decreased the total outstanding balance £1725 which consists of the following:

 

 

 

1. Loan principal £600

 

2. Interest in total £660 (1% of the Principal per day)

 

3. Overdue penalty £25 (was added on the 1st day overdue)

 

4. Overdue penalty £55 (was added on the 3rd day overdue)

 

5. Debt Recovery fee £100 (was added on the 30th day overdue)

 

6. Debit Attempt fees in total £285 (every unsuccessfull attempt to recieve the repayment costs £3)

 

 

 

When the loan is not repaid on the due date, the Customer receives TEXT messages and voicemails to the registered mobile phone number, e-mail notifications to the registered e-mail address and letters to the registered postal address. Our indoor Debt Recovery department is manually dealing with the debt and the fee of £100 was added on the 30th day overdue to cover the cost of the debt collection.

 

 

 

As the doorstep collector has not yet had a visit to Your address the charge for the visit has not been added.

 

 

 

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. We are willing to consider the possiblity of a settlement figure if it is reasonable and paid in full latest by the 30th of September 2011 to avoid the beginning of further action.

 

 

 

 

 

Kind regards

Minicredit Claims Department

[sillygirl1]

They are taking the proverbial, it is against the OFT guidelines on debt collecting to charge £100 for debt collecting, and there is no legal basis for their fees for attempting to take funds, as well as the two default fees. As for the 1% per day interest I think they are being 'economical with the truth).

 

At the end of the day all you owe is the original loan amount and one months interest.

 

Get your complaint in today to

 

http://www.consumerdirect.gov.uk for the OFT.

http://www.tradingstandards.gov.uk for Trading Standards

 

Also complain to the FSA - I did a bit of trawling yesterday and the FSA is a faster route than the FOS, you have the final complaint response so complain complain complain

[carnival95]

At the bottom of the email threy sent me i have just realised they had included the personal details of another person whose got a dent with them, so i emailed them to tell them they were breaking the data protection act and this was there reply

To whom it may concern,

 

 

 

Thank You for the information and helping us to locate an error made by the e-mail service provider. This will be seriously looked into.

 

 

 

We apologize for the inconviniences regarding the attached e-mail. As the e-mail did not have more information regarding the personal details of the other Customer regarding the address, date of birth and etc. It is not understandable that You as a third party sent the e-mail over to a debt management agency, Financial-Ombudsman and to media, it is also possible to have You accused of providing the details of the e-mail You received by a system error against the Data Protection Act.

[sequenci]

Also complain to the FSA - I did a bit of trawling yesterday and the FSA is a faster route than the FOS, you have the final complaint response so complain complain complain

 

Are you certain of this? I would have imagined the FSA would simply direct you back to the FOS?

 

http://www.fsa.gov.uk/pages/consumerinformation/if_things_go_wrong/who_to_complain_to_1-2-3/index.shtml

[sillygirl1]

I spoke to both organisations yesterday at great length, one does one type of complaint, the other another type. Why not phone both lots up yourself if you have specific questions for them.

[sequenci]

I think I'm going to have to. I've had extensive training about both and thought I understood the functions they both held. I appreciate the heads-up. I must admit that it does puzzle me that there is nothing on their website to indicate their ability to help consumers with complaints.

[carnival95]

Dear Minicredit. Further to your disappointing final response to my complaint I can now advise that the official paperwork together with a copy of your email and letters in which you attempt to charge me £100 for debt collection visits have now been sent to the Financial Ombudsman. The Office of Fair Trading have also been emailed over my concerns that you are breaching the 1974 Consumer Credit Act and that in my opinion your licence to trade should either be revoked or you should be prosecuted for unjustifiable and unacceptable charges and interest rates which you feel you can debit onto accounts as and when you feel like it. I have also asked that the matter regard your company and the way it trades be raised in Parliament by my MP with the Prime Minister. I would be grateful if you would stop the telephone calls to my mobile phone. I would advise that in settlement of this account I will pay £600 plus one months interest minus payments that have been made at £50 a month and will not be intimidated to pay your excessive loan shark charges, I strongly suggest you read the consumer credit act, as clearly up to now you have no idea how it works and what is required by you as a responsible lender

[Darren MO]

I am going to default with these on sunday so am expecting the harrasment, i bet they ring on a sunday too don't they,

[Darren MO]

Dear Minicredit. Further to your disappointing final response to my complaint I can now advise that the official paperwork together with a copy of your email and letters in which you attempt to charge me £100 for debt collection visits have now been sent to the Financial Ombudsman. The Office of Fair Trading have also been emailed over my concerns that you are breaching the 1974 Consumer Credit Act and that in my opinion your licence to trade should either be revoked or you should be prosecuted for unjustifiable and unacceptable charges and interest rates which you feel you can debit onto accounts as and when you feel like it. I have also asked that the matter regard your company and the way it trades be raised in Parliament by my MP with the Prime Minister. I would be grateful if you would stop the telephone calls to my mobile phone. I would advise that in settlement of this account I will pay £600 plus one months interest minus payments that have been made at £50 a month and will not be intimidated to pay your excessive loan shark charges, I strongly suggest you read the consumer credit act, as clearly up to now you have no idea how it works and what is required by you as a responsible lender

 

Have they replied to this as of yet?

[carnival95]

I am going to default with these on sunday so am expecting the harrasment, i bet they ring on a sunday too don't they,

cancel your bank card today report it lost, as these people will take out any money you have in. Dont let there texts letters or emails intimidate you, the FOS and OFT are inestigating them for breaching the comsumer credit act. Only pay back what you owe plus one months interest.

[lisag88]

I have the same problem too, I took out a loan of £250 and with interest was due to repay £325. Wouldnt let me extend and couldnt afford to pay the full amount but you can only contact them by calling their premium rate number as their contact page has never worked. They add on ridiculous interest, and after 30 days have added on an additional £100 and sending me doorstep collection letters.

 

The balance is overdue by about 5 weeks but has risen to a total of over £730!!!! Surely they cannot do this, I have tried to arrange a suitable repayment method via standing order on a weekly basis, as I had lost my job and I'm on minimum wage barely getting £150 a week. No-one speaks any English and they refuse to let me pay them in bits, I have other bills, rent etc to pay.

 

I wish I never went to them in the first place. I have no choice but to wait for the door bell to be rang as I am not calling their number again after one time my bill was over £10 in a month just calling their number and waiting.

[sillygirl1]

The Doorstep collectors have no powers and can be told to get lost, if they are bailiffs they are NOT allowed to use their bailiff powers when collecting on common commercial debt (which is what this is). At the end of the day all you owe is the original loan and interest, their charges would not stand up in a court of law (they hope you won't defend on the basis that 'you borrowed the money and haven't repaid it - which is WRONG) and hope to get judgement by default when you don't defend.

 

I've done loads of defences for this site and have had considerable success, most companies don't want to fork out another £80 for the allocation questionnaire. One recent case the company claimed £1800 for a £150 loan and settled out of court for £80.

 

If you are on benefits or minimum wage then get an appointment with the CAB and ask for their help, you can also complain to Trading Standards and the OFT about their poor/lack of communication and racking up charges.

[gaznrae]

i'm also a victim to this horrible company. took a loan out for £400 to repay £512 was unable due to fiancial problems rung and explained but there not bothered. they took near enough every penny out of my bank which wasn't alot. so cancelled card and got a new one. they sent a letter about 2 weeks ago saying i now owe them £955.50. complained to ombersman they've got 8 weeks to reply. i've sent numerous emails offering a settlement figure but there not innterested and will continue to add interest until its cleared. my last offer was them £600, 6 payments of £100 every 4 weeks. they just replied thank you but the interest will continue until account in cleared. complete nightmare. my partner has said dont pay anything let it go to court first. there is no where around here that does the ukash vouchers and i'm not using my card again and they'll no doubt keep the details and take money again as and when they please.

[roxy2010]

Dear gaznrae

 

They will eventually send your acccount to a DCA which they did with me as I refused to pay them anything else but one month's loan plus interest. I have paid them over £200 but they still say I owe £510. I have told the DCA and their sidekick solicitors to send me to court which after three month's they still havent.

[gaznrae]

just be so much easier if they would freeze interest and allow a payment plan but they won't. they told me every payment delays the debt collectors for 30 days. did you have people at your door. i'm a young mum of 2 and hate all of this. i worry every time i hear a car wondering if its debt collectors. such a weight to deal with. wish i never got involved

[sillygirl1]

When any company takes money out of your bank account they are not authorised to do so it is THEFT - so complain to the police and get a crime number, and with that the bank should return your money.

 

You only owe the original loan amount and one months interest, not their crazy charges, and because THEY breached the contract by emptying your bank account you now owe them ZILCH.

 

Go and report them and get a crime number, tell the police you need it to get the bank to stop them taking further funds they are not entitled to - and then go to the OFT and Trading Standards with the crime number.

 

This is the path everyone should take if any of these PDL companies take funds they have not been authorised. How much did they take?

 

You have proof with the bank statements if they go to court that they have misbehaved and the court will hammer THEM rather than YOU.

[gaznrae]

it was about £200 i rung the bank and they refunded straight away.did took it all in bits you know like £25 here and there £100 all added up tho. all one after the other as well. they sent me a text tho saying they were going to start legal action against me for getting the money back. not heard anything since tho and that was on the 7th

[lisag88]

I have the same problem too, I took out a loan of £250 and with interest was due to repay £325. Wouldnt let me extend and couldnt afford to pay the full amount but you can only contact them by calling their premium rate number as their contact page has never worked. They add on ridiculous interest, and after 30 days have added on an additional £100 and sending me doorstep collection letters.

 

The balance is overdue by about 5 weeks but has risen to a total of over £730!!!! Surely they cannot do this, I have tried to arrange a suitable repayment method via standing order on a weekly basis, as I had lost my job and I'm on minimum wage barely getting £150 a week. No-one speaks any English and they refuse to let me pay them in bits, I have other bills, rent etc to pay.

 

I wish I never went to them in the first place. I have no choice but to wait for the door bell to be rang as I am not calling their number again after one time my bill was over £10 in a month just calling their number and waiting.

 

 

 

Just logged into their website and have added another £50 in charges in a week, now saying i owe them just under £800, within another week will probably be nearer £900 which will be nearly 3 times the original loan amount plus 1 month interest. Will definately be making appointment with the CAB to see what my options are, i only take home around £150 a week now. Hate this company, think I have well and truly learnt my lesson with Payday Loans now. Thanks for all advice and help, would have done anything to repay them before reading everyone elses stories, so glad Im not alone and not as worried or scared now knowing what rights i have etc. Thank you

[azzadle]

The funniest thing is nothing is consistent with them (other than the harassment!!).

 

Had a letter stating (for a £100 loan) that I owed:

 

£636.50

Plus £100 debt recovery fees

Total debt: £648.50

 

Er.. that doesn't add up. I then logged into my account to see what that said and it said the balance was £730. I then clicked "cash repayment" (dont want them having my card details) and it said the balance was £786.38. WELL, WHICH IS IT YOU FOOLS?!

 

They've threatened me 3 times with court action and done nothing. I've requested a breakdown of the balance which they have ignored. I've emailed them many times, and even used their "email us" service on their site, which they have ignored. Blood, stone.