loan with minicredit.co.uk

[mreyn37697]

this company is shocking i cant afford to repay my loan was originally 100.00 loan charges for 1 month took it to just over 200.00 just rang them to ask for a re payment plan they said they don't stop interest or charged and I would be charged £10.00 per day for 90 days then they would take me to court i am seeking legal advice

 

Matt

[karlito78]

this company is shocking i cant afford to repay my loan was originally 100.00 loan charges for 1 month took it to just over 200.00 just rang them to ask for a re payment plan they said they don't stop interest or charged and I would be charged £10.00 per day for 90 days then they would take me to court i am seeking legal advice

 

Matt

 

Hi, there is absolutely no way they'll take you to court as they know it'll be thrown out.

[sillygirl1]

Keep emailing them with an offer to repay the original loan plus one months interest over a three month period, that is more than reasonable. They CANNOT charge £10 a day for 90 days then take you to court, if they did a judge would hang THEM out to dry.

[Delboy01]

karlito they have taken stupid1 to court, but not heard anything for 3+ months, but they are claiming 90 pence per day on their poc which amounts to 80 quid on top of what the summons is for. But i shall be informing the court of the stress and upset the delay is causing our family, not to mention the debt being allowed to increase. Just wish I knew how to bring this to the courts attention. Looking forward to this actually going before a judge.

Edited April 27, 2011 by Delboy01

[karlito78]

karlito they have taken stupid1 to court, but not heard anything for 3+ months, but they are claiming 90 pence per day on their poc which amounts to 80 quid on top of what the summons is for. But i shall be informing the court of the stress and upset the delay is causing our family, not to mention the debt being allowed to increase. Just wish I knew how to bring this to the courts attention. Looking forward to this actually going before a judge.

 

Have they actually taken her to court? OR have they just issued a fake court summons?

 

If it was genuine then im sure you would have heard something by now.

 

I know it's easier said than done but try not to stress, they won't get the money they're asking for and aren't entitled to so the ball is in their court.

 

Just chill and let them decide to be sensible in their own good time.

[Delboy01]

Yes they have, I have been communicating with the court and sent defence in. They are just stalling on it going before a judge.

Either that or the defence was the business.

[innocentstevie]

Hi there i sent this to mini credit so everyone can see my situation and i dont get a record of the e-mail i sent to them. Any advice?

 

Stevie Wooldridge

Ref No. **********

Hi there. If possible i'd like to know all the details about my account. I had someone paying money on behalf of me so i wanted to know if those payments had been allocated and when.

I'd also like to know a break down of all charges so im fully aware about what i owe.

Due to my calculations i owe £465.60

From after i paid the roll over fee on 27th jan

Original loan: £160

Interest @ 1% per day x 141 days: £255.60

Plus the two extra charges of £25 and £55

Comes to £465.60

You say that you charge £100 everytime a door step collector is sent out but i had had no doorstep collector, nor had any contact information do talk to them or set up the required appointment. Therefore you cannot charge for what hasn't happened yet.

Another enquiry: In "Repayments it states that i owe £953.60 as of 17th June (Today)

In "Cash Repayments" It states i owe £1027.98. How can i have two different balances?

As i am in a debt management agency all my extra money off £250 per month goes to them directly. So i have nothing else to give every month. So i have no way of getting this money to you other than through them. I am stuck as to what to do as you are unwilling to assist me when i have rung you and said i'm having difficulties and have set up a dma but the only way it would be settled is if i pay half the balance one month and the rest the next month. Which i said i cannot do. Your reply: It will just escalate further if i dont not pay the balance in full. For unwilling to assit me when i cannot pay the balance you are breaking the law and the OFT guidelines in which you are regulated.

I know i owe the money and i am willing to pay it but i cannot do this in full. I need your help so we can sort this out fairly.

If possible could you please send an e-mail back to me or something in writing.

Thankyou

 

My last letter was the "Last letter before legal action" Amount overdue £838.30 Debt recovery cost £100 Total Balance £864.40 Which again makes no sense to me whatsover.

I wait for a swift reply.

[karlito78]

Tbh, i'd just wait for them to take you to court. They've been 'threatening' me with this action for about 6 months now. I've kept a record of my emails where i make a fair and reasonable offer but it was rejeted outright.

 

They will absolutely not take you to court, especially to demand £1,000 for a £160 loan as it would be laughed out of court.

 

Just wait for them to be sensible. If they refuse to do this then there is nothing more you can do.

 

Also as there are based in Estonia it will be difficult for them to take legal action against anyone anyway, i don't think they've taken anyone to court as of yet. They just rely on making sure enough people being bullied by their letters, texts, emails and phone calls.

[innocentstevie]

Just sent this too as i workoed out the "interest charge" is £3.10 per day.

 

Ref: xxxxxxxxxx

Hi there.

I recently sent and e-mail to yourselves, but i have not heard a response.

From the 17th June the balance on my account was £953.60 and today 21st June the balance on my account is £966.00

That works out to a interest charge of £3.10 per day which is incorrect as my original loan was £160 therefore the 1% interest charge should be £1.60.

I'd like to know why this error is still in place. If the interest was correct i would have been in a position to pay off my debt. As it has now escalated due to your error, i cannot.

I would like this seen to and corrected as quickly as possible.

Thanks

 

This is on the contract

Total Charge for Credit: The 'Total Charge' for Credit depends upon the amount you borrow from us.

 

The following shows the total Charge for Credit you will pay for the different amounts that you can

 

borrow what depends of loan amounts:

 

1) Interest charges: 1% per day of loan amount.

 

2) Fixed Fast Advance Transmission Fee £5.50.

 

3) Loan request charge £1 if made by text message, online request is free

 

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 3 days later, and if we unsuccessfully attempt to obtain repayment on this

 

second occasion we will charge you a further amount of £55.

 

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.

 

So am i right to think that as my original loan was £160 the interest should only be £1.60?

[sillygirl1]

STOP! This is a PAYDAY loan, the original loan term has elapsed and there can be no default charges or default interest. In a court of law (and there have been payday cases there) the original loan amount and one months interest is the formulae for short term loans.

 

Section 87 of the CCA applies here, stop trying to find ways to 'wind them up', stick to the fomulae of the original loan and one months interest.

 

If they are not playing ball you complain to the OFT and to Trading Standards. Also keep emailing them your offer based on the above, and put the money to one side.

 

Last time a PDL company went to court because of the length of time it took them to get there and they bumped £150 up to £1500 the original loan amount was saved up and lodged with the court as a sign that the person had the means to maintain the payment they had been trying to arrange.

 

Remember short term payday loans are only meant to be short term, not drag on and on for months due to excessive charges. They already carry the 'penalty' of ultra high interest so that in itself is enough for the courts to wipe the charges.

[molly66]

im having this with mini credit at the moment you email them and they send the same reply .you just cant get any help

[Resident Evil]

Hi. I'm also having problems with these cretins. I took what I thought was a £100 loan that I only wanted for a couple of weeks only to find that they'd only put £19.50 in my account. I tried to compain by email but only got an autoreply telling me to contact them via their website, where you can only ask questions specified by them! I then tried to phone but couldn't get to speak to anyone so I made sure my account was empty when they came to collect their money. They're now trying to hound me with texts, emails and recorded message phone calls. I've since cancelled my card and tried to phone them for bank details so I could give them their £80.50 back but they're refusing to give me bank details and are trying to tell me that I owe them in excess of £350.00. They also said that you can make a payment using UKash vouchers at extra cost. I'm not interested in doing this, I just want to give them their £80.50 back but they're not having it.Should I just ignore them until the court summons comes in and see if they bother turning up in court?By the way, I recently discovered that their "office" is an Italian Restaurant in Waterloo.