Finally Taken The Plunge but....

[Penny Dropped]

Hi

I've been hanging around reading the threads for the past couple of months after a temporary post I was seconded into suddenly came to an abrupt end with a minimum notice period. Although fortunately I am able to return to my permanent substantive post, it pays over £450 a month less. I am already in the cycle of rolling over my 7 paydaly loans and literally have no spare cash each month.

 

After reading all the excellent advice on this site, I finally plucked up courage to take my head out of the sand and take action. After working out a realistic payment plan for each I changed my bank account, then wrote to each company, using your template letter, requesting a payment plan over 9 months. I also included a copy of the letter my company sent confirming the end of my temporary post and copies of January and Februarys paylips showing the reduction in salary. At the end of March I defaulted on all the loans a none had replied in time for me to commence a plan. It certainly felt liberating to finally be tackling a problem that has been going on for almost 2 years, however I've had mixed reactions from the companies and I'm not sure what I should do next and am hoping you wonderful people can advise.

 

Cash Choice have agreed, in writing to accept a one off payment of £100 as full and final settlement. I am most suprised and extatic and I am making a payment by bank transfer tomorrow.

Payday Now have agreed in writing, including their bank details, to a 7 month plan and will freeze my account following tomorrows first payment by SO.

Lending Stream have written a letter to tell me I have defaulted (surprise) but have not responded to any of my emails or request to enter a payment plan. They also keep sending me emails informing I could take out a second loan with them!

Poundstilpayday, as with everyone else, didn't respond to my emails but after emailing me a default notice informed me by phgone as I wasn't going to make the fgull payment, they will forward my details to a DCA who may well call at my home, take goods to cover the amount I owe and/or take legal action. I think, although correct me if I'm wrong, Bailiffs can only enter your property and seize goods after going to court.

Wageday Advance did send a number of emails requesting bank statements, and a SOA. I declined and kept sending my letter requestin a payment plan and after sending me a very threatening letter threatening to send bailiffs round (which I informed they couldn't do without first going to court) they agreed to consider my request but are wanting an SOA. So far I have not responded as I'm not sure how much info to give.

Payday Express do not want to play ball informing unless I now fall into one of their listed categories ie have an enduring physical disability or mental health problem they will not consider my request and will continue to add interest. I have continued to maintain my offer but they are now saying they are "unable to discuss your account infomration by email due to security implications that relate to our company complying with Data Protection Act 1998." They inform I must call but as I am unable to record conversations I cannot prove any discussions so I've not contacted them Should I continue with the emails or should I write a letter?

Mr Lender - they were crafty by getting me to pay a bank transfer of the rollover amount of £50 informing they will not respond until this has been received then they will negotiate. Guess what - they haven't replied to my emails just sent emails and texts advising I can again rollover. They wont be paid tomorrow so I expect a barrage of phone calls. Not sure what more I can do.

 

I also have a loan with The Money Shop and because I hadn't received my debit card when my last payment was due, they allowed me to pay cash with the proviso I give them my details when I receive them. However, I have since found out they are affiliated to Payday Express so have decided to pay the loan in full tomorrow when I'm paid to ensure PDE don't get my details.

 

Sorry for the lengthy thread but I hope some of you can take heart that some PDL Companies will accept your request more easily than others.

 

Can anyone advise what response I can expect from PDE, WDA, Mr Lender and Lending Stream? Thanks

[rebel11]

Hi penny

 

Welcome to CAG

The guys will advise as soon as they are available.

[robjam1969]

Hi Penny

looks like you have made a good start and I assume your funds are totally safe (new account/cxd card etc).

PTP - pass to DCA who are normally fine to deal with

PDE - usually agree plan but may pester you for an I/E form

WDA - usually good for a plan but you may have to play hardball on their charges.

Dont know much about the others but plenty in this forum

Other than that stick to your guns and only offer reasonable repayments that you can afford. Also never more than original amount plus one months interest.No agreement made = no payment! - they will soon be in touch Good luck

[Penny Dropped]

Thanks for your responses. Just come back from a few days away so sorry for not replying. Well robjam I did think my new account was safe, however after my card was refused in the supermarket this morning(how embarassing!) I checked my account online and £512.50 has been taken from my account by DD making me overdrawn on a basic account. After speaking with the bank it appears Wagedayadvance had managed to take the money by DD from my new account. When I set up a new account I highlighted the DDs I wished to transfer and signed the paper. However, even though the bank have now cancelled my old account the DD had not been cancelled, hence they have been able to get to my new account. Unfortunately the guy today couldn't help but has requested the branch call me first thing Tuesday. I though I would be covered by signing that paper. Please could anyone advise me further. Thanks.

[robjam1969]

Hi Penny

 

Get the bank to recall/reverse the direct debit. they have no choice but to do this if you are quick.

[stressedx]

Your bank can recall the direct debit, funds should go back in overnight. Happened when i changed phone providers. They took 3 months i hadn't used yet but i had changed to someone else. Natwest recalled it back.

[Penny Dropped]

Thanks for the info. I shall contact the bank again tomorrow although given how difficult these companies can be I don't hold out much hope.

I did hand deliver a letter of complaint to the bank yesterday requesting they call me asap today. No such luck. After two calls I ended up going to the branch to speak directly with them. It appears that for some reason they thought I wanted my old account left open until 28th April - my next pay date! Why would I want that given I had told them my account had been compromised and all ongoing DDs and SOs had been transferred? It seems during that time Wageday Advance had tried to set up the DD at least three times and although they got money on 28th they had also requested it again today!

Although in my letter I had requested an immediate refund from the bank as I believe it was their incompetence that tled to the money being taken from my bank, I wasn't sure what could be done so accepted they would into it further and will call me tomorrow to advise of their course of action. If they are being swkward I will request they do a recall.

The cashier did say though that even if I had cancelled the DD and requested it not be reinstated, if the original agreement states they can request money from any account held with the bank and the bank are at liberty to give it to them. Surely this can't be right, can it? Unfortunately I can't find the original agreement.

 

If anyone else opens a new account with the same bank I suggest rechecking the old account has been cancelled and not just take their word for it. Initially both accounts were showing when I logged onto the online banking but on 2nd April the old one disappeared so I just assumed it had been cancelled as requested.

 

Just wondering what response I should make to Payday Express who inform me they will not correspond via email due to data protection. Has anyone else had this response? I will write letters but, given the number I may have to send, can't really afford to send them recorded delivery. The only alternative I can think of is to phone but advise I will not action any payment unitl the write to me confirming they accept my offer and won't add interest. Does anyone have any alternative suggestions please?

[robjam1969]

Hi Penny

 

Data protection? - it is your data and you are happy to deal in this way. No doubt they were happy to make the loan to you on line and no doubt sent a copy of the CCA to you by this method?

 

They are talking rubbish. By all means write to them just refuse to talk to them on the phone, just in case this is what they are after.

[Penny Dropped]

Result! My bank have credited the money back to my account. Mr Lender have also agreed to a payment plan without much of a fight. Still no nearer with Wageday Advance, Payday Express, Lending Stream or Poundstilpayday.After further contactl from Wageday Advance telling me I have failed to make a payment (surprise), I have again forwarded an email requesting the plan andtheir bank details.I received a letter from Payday Express now informing me my loan has gone from £600 (inc 1 month's intereste) to £855! I will write to them again. Thanks for the advice robjam - much appreciated.Why do these two make everything so difficult? Do they not realise if they had made the agreement earlier, as Cash Choice and Payday UK had, they would've already received the first payment of my plan. I'll just keep plugging away.I have not heard anything from Lending Stream or Poundstilpayday recently so will just send the occasional email to show I am still making attempts to negotiate shoudl the worst come to the worst and it go to court.For those of you who are trying to pluck up the courage to make the first move, read the threads to gain as much advice as possible and just do it. Taking that first step is so scary but everyone hear is so supportive and will give you guidance. The overwhelming sense of relief when you do take the first step is worth it alone. Lol! I've certainly slept better. I realise I'm not out of the woods and need to continue to state my case, which is frustrating, but I wont give up. There is light at the end of the tunnel.

[andy07]

Thanks for your responses. Just come back from a few days away so sorry for not replying. Well robjam I did think my new account was safe, however after my card was refused in the supermarket this morning(how embarassing!) I checked my account online and £512.50 has been taken from my account by DD making me overdrawn on a basic account. After speaking with the bank it appears Wagedayadvance had managed to take the money by DD from my new account. When I set up a new account I highlighted the DDs I wished to transfer and signed the paper. However, even though the bank have now cancelled my old account the DD had not been cancelled, hence they have been able to get to my new account. Unfortunately the guy today couldn't help but has requested the branch call me first thing Tuesday. I though I would be covered by signing that paper. Please could anyone advise me further. Thanks.

 

What is it about banks , they really do get my goat , am I being stupid or something but I would imagine that the fact that I pay a monthly charge for my account and also lend my salary to the bank every month which along with everyone elses deposits they use to make money for themselves (the reason they pay you interest) that they technically work for you or atleast have a realationship with you that should at a minimum mean that they are on your side.

Example !!

If I parked my car on my friends drive and then told him to give the car to peter but before peter picked the car up I rang my friend and said under no circumstances give the car to peter would I expect him to hand the keys to peter and then claim that he was only following my initial instruction ?????? I doubt it but this is exactly what the banks are doing , they forget it is YOUR MONEY and you lend it to them

 

 

Rant over !!!!!!!

[sillygirl1]

Firstly congratulations for taking the first steps to get off the bandwagon of payday loans.

 

You need to report PTP and Wageday Advance to the Office of Fair Trading and Trading Standards via Consumer Direct, their emails are very much against debt collecting guidelines.

 

PTP and other payday loan companies sometimes use bailiff companies to collect, these companies CANNOT use their bailiff powers to collect on 'common debt' and should be reported for attempting to misuse their powers.

 

A bailiff cannot come into your home to 'assess your assets' nor 'examine your finances' or anything else WITHOUT having a court order. You are a long long way from that at the moment. They will threaten the 'doorstep collectors' but again they have no legal standing and you have every right to refuse to see them.

 

Keeping everyting in email is excellent, and if any PDL companies ask for a 'set up fee' to help you report them to the Office of Fair Trading, this is not acceptable, as is the 'discretionary list' that some companies have invented.

 

If you can get another bank account set up to protect your income (Halifax Easycash online account is a good option) then do so.

 

Another thing, these companies cannot write to your employer asking for the debt to be paid from your salary, this HAS to be done via the courts and you are a long way off from this. The company would first need to get a CCJ awarded (not just ISSUED) against you and you default on that before they can get at your salary. This is partly why you need to protect it in another bank account, companies have been known to 'empty' peoples accounts in the past (and I have evidence of this....)

[sillygirl1]

Wageday Advance MUST be reported to the Office of Fair Trading, they have already told a couple of payday loan companies NOT to empty bank accounts.

 

Just getting a new card and account number with the same bank is not enough - you need to get another account such as the Halifax Easycash account where you apply for it online... (unless you already bank with the Halifax).

 

What the bank have told you is rubbish, if Wageday Advance have that clause in the original agreement it then comes under the Unfair Contract Terms and Conditions acts and again needs to be reported to the relevant authorities.

[Penny Dropped]

Thank you once again for your advice upon which I will be acting.Almost immediately after I forwarded my last response I received a call from the head office of Payday Express requesting an update as he had been given very little info. Where have allmy emails and faxes gone I ask? After explaining the apparent unwillingness of his colleagues to make any payment plan arrangements unless I meet "set criteria", or to correspond with me via email. I had a surprising response. He appeared perplexed that they would not correspond via email and informed that the company do make payment plan arrangement (via email) although not usually over more than a couple of month's.At this stage he advised he was unable to remove the added interest but did want to come to an amicable arrangement so would liaise with his colleagues and call me today. Unfortunately he didn't! I did receive a text advising my account was now being handled by the Debt Recovery Team and to call them. They will have to wait for my letter.Wageday Advance emailed me on 7th Mayto inform me I must respond to their email within 5 days with an I&E and a copy of a month's bank statements. Do they have a right to an I&E? I know not to forward a bank statement, particularly if it has my bank details, although should I send it with all info blacked out other than my salary being shown? Today I received a letter advising if I didn't make contact with them within the next 7 days my file would be passed to their Collections and Litigation office to consider the course of action they will take to recover my debt. What the hell do they think I have been doing for the past 6 weeks? There have been so many emails, texts and letters going back and forth it feels like a full time job keeping up with it all. I will definately be taking your advice Sillygirl and contacting the OFT.After coming to an arrangement with Mr Lender and setting up the agreed Standing Order, ihave received a text from them advising they have served a default notice and added £70 to my outstanding balnce for the pleaseure!. Another email to my "case manager" to advise me what's going on. Hopefully the text was sent in error, or is that just wishful thinking on my part?

[sillygirl1]

You only need to do a basic I&E for them, not their 'form' they use, and only put YOUR income, nobody elses. The basic form is

 

Income xxx

Priority Debts (do not list them but they are rent/mortgage, council tax, gas/electric, water rates tv licenceetc)

Other Debts food, clothing, travel to work, lunches, childcare

Amount left = xxx to be divided between (or is it amongst? I can never remember!) x debt arrears

 

If they are not playing ball tell them you have no other option but to go for a debt management plan....

[Penny Dropped]

I'm starting to get angry now with Payday Express! They really do want their pound of flesh.Had another call today from the Collections Dept wanting to know why I hadn't contacted them and then when I mentioned the seemingly endless emails and a fax, he tried to telling me I had not sent them to the correct dept. Maybe not but they were all sent as a direct reply to them. However, as a FAVOUR they will halve the £255 fee I incurred on 31st March when my case was passed to the collections dept, (funny, I was told on Saturday that "head office" had only just received my case!) if I make an arrangement with them today to pay the balance off in 3 months. When I explained I would then need to pay the loan + interest + fee over 12 months, I was informed the full fee would then stand. I politely told him the company was being unreasonable and the conversation continued to go round in circles with neither of us backing down. I terminated the call informing him I would write to them AGAIN with my payment plan request and that if they had agreed to the plan in the first instance a) I wouldn't have incurred the fee and b) they would've already received 2 payments. I'm now begining to worry. What if they don't agree and take me to court? I thought they would by now be looking to sell onto a debt collection agency.Poundstilpayday have now transferred my case to Clarity so hopefully will be able to negotiate with them.Thank you Sillygirl for your response to my previous message, I'll send the I&E tomorrow.

[stressedx]

I am having the same problem. They just ignore emails and then text me to say i havn't got in touch. It is frustrating.

[ihateyes]

Clarity will accept a plan...

 

PDE ure useless..... keep sending your emails, and keep copies... if they did take you to court.. you can show the court you made all reasonable attempts to arrange a plan, but PDE only wanted to add charges, also keep the monthly payment to the side. means if they took you to court, you can say to the judge that you have kept the monthly payments to the side... looks good on your part...

 

PDE need SHUT DOWN....

[Penny Dropped]

In total agreement ihateyes!Had yet another call from another obnoxious man from PDE requesting to come to some arrangement! I continued to relay the same requested plan and advise I was no able to pay a penny more than the £67 stated in my numerous emails and was not willing to pay the fee. He then gave me a lecture, and accussed me of trying to stall the arrangement by trying to discuss the fee and suggested if I was serious about a payment plan I would've made the £67 payment regardless of their agreement! Cheek! I again explained they would've received two payment by now if anyone had bothered to provide me with their bank details as requested. After much deliberation he accepted the £67 monthly payment, reviewable in 3 months to allow me to liaise with their other office in Bromley - to whom I must have sent the emails as they Collections had no record of any correspondence - to negotiate the removal of the fee. Why do I feel they are not being truthful? When he asked for my card details, of course I explained I didn't have a debit card and could I have their bank details I was given a cock and bull story that this is not the way they operate. Strangley enough he went to speak to his manger then came back with a totally different attitude - maybe his boss was listening. He then informed he would make "a special arrangement given the obvious hassle I have experienced" and I could pay each month at my local Money Shop, but they will have to phone him to confirm I have paid. Talk about increasing your colleagues workload. I did challenge him on how I could trust him to set this up, prevent any further interest charges or fees occurring and what's to say they even take the money of my balance as they are not providing me with a payment book nor do The Money Shop give receipts.Also he would not provided me with written confirmation of our "agreement". He did then ask how he could trust me to make payment - which was fair comment.I have since read another thread where PDE's bank details were provided. I'm now wondering whether I should write to state the agreement (my original) - although disputing the fee - and that I have obtained their bank details so will set up a standing order instead of going into the Money Shop. Those of you who have dealt with PDE what do you advise?

[stressedx]

I would want it in writing. Sounds like they are being awkward, i said i would report them and got there bank details so why they wouldn't give you them is baffeling.

[Penny Dropped]

Yet agin thank you for your words of advice.Just to let you know Clarity have now contacted regarding the Poundstilpayday loan so I've sent off the same proposed payment plan.Mr Lender, who appeared very obliging and easily agreed a plan and provided me their bank details and my own account manager, sent me a default notice adding £70 to the outstanding amount. Strangely I am still awaiting a response from the email to my account manager!Lending Stream are also not playing ball. Again I have sent countless emails and a fax yet, other than a phone call prior to sending the fax, they have not responded to any of my emails. Today I receive a default notice advising me I have 14 days in which to respond other wise they will take action. What the hell do they think I have been doing since February? I will write to them but do you think I should include copies of all my correspondence to them? I might even add they must respond to me wihin 14 days. LOL!

[sillygirl1]

Respond to them every day and state that you HAVE been responding and asking for their help, and put in a complaint to the Office of Fair Trading about the £70 charge, they are not allowed to do that (whether or not it is in their Terms and Conditions it is an unfair charge and out of relation to any actual 'loss' the company may have suffered.

 

You have enough evidence to show the courts you tried to negotiate before a default occurred and there is a good basic defence you can entere which will show them in a bad light rather than yourself. It also leaves out legal pleading as some of this is irrelevant for Payday loans, and focusses on the suspect particulars of claim, high interest rate, correspondence trail and lack of communication from the other side. It also addresses their favourite 'person has posted on internet not paying' by providing details of thread and 'person not phoning us' by pointing out that emails are far more effective and leave an auditable trail where phone calls do not.

[Penny Dropped]

Wageday Advance have finally accepted my payment plan and sent me details of their bank account. Yipee! Sadly not having much luck with getting PDE and Mr Lender to remove their charges despite advising I will report them to OFT. I will now take your advice sillygirl1 and make a compaint to OFT but is it then likely that they will remove the charges?I have had some success with PDE as, despite them informing they do not confirm their agreements in writing, I have now received a letter outlining the conversation and will request The Money Shop date an sign the letter each time I make a payment.