Minicredit - I want to fight

[Grumbleguts]

Hi all, I hope someone can give me a bit of advice please.

On 11 April, I signed up with Minicredit to borrow £100.00 I went through the application process on their website and got a pre-approval and some pre-contract documents that I had to acknowledge, which I did. The clause on their 'Fast Transmission Fee' did concern me so I phoned the number on the website and spoke to a woman who told me that she didn't have my details but that the approvals team would contact me. I did make it clear that I didn't want the 'Fast' option but would wait for 3 days - but it was like talking to a brick wall. About an hour later I got an e-mail to say that my loan had been approved and the money transferred to my bank - less their fee of £19.50

I immediately queried this by sending a mail from their FAQ section, but just got a stupid response saying that I had agreed to it. I tried to query this because as a new customer I was not given the option of giving 3 days notice, but just got the same response.

Now, not wanting to have these &*%%$£*& extort me, I decided to cancel the agreement. Below is the letter I sent....

15 April 2011

Microcredit Ltd

30 Borough High Street

London

SE1 1XU

To Whom It May Concern:

Notice of Intention to Cancel Agreement

In terms of the credit agreement issued by yourselves on 11 April, I would hereby like to give you notice of my intention to cancel this agreement with immediate effect.

The reason why I would like to cancel is that I am not satisfied with your ‘Transmission Fee’ of £19.50. During the application, there is no option given to apply and avoid this excessive fee and only after receipt of the funds was this apparent. Your application process is not clear to a new customer and is deviously designed to snare people into paying this fee.

Prior to approval of the loan, I phoned the contact number given on your website and spoke to Emma. I did state to her that I did not want the ‘Fast Advance Transmission’ option, but was told that she – your representative – could not access my details and that I would have to wait for the approval. At no time was I given the option to avoid this fee and would like to take this opportunity to express my disgust at what is an obvious effort to rip me off.

Your response to my e-mail query is also highly unsatisfactory. Your client support team stated as follows – ‘Fast Advance Transmission fee is applicable to all loan applications if not stated in written form at least three days before sending every loan application.’

How, as a new customer and 1st time applicant, I could not have known this.

Given the above and my disgust at the treatment received from yourselves, I am hereby cancelling this agreement. I enclose a cheque for the amount of £80.50. Take note that as I do not accept your ‘Fast Transmission Charge,’ I will not pay that to you – you already have it.

Please do not attempt to take any money from my bank account. I will cancel my debit card and will not accept any further charges or costs from you.

Mr

 

To date, I have had no acknowledgement of receipt of this letter nor have they cashed the cheque.

I am now getting continuous texts that I owe them over £300.00 as I have not paid them. I have tried to respond to the e-mails that they have sent, but I just get an automated reply (from their support@ e-mail) that I have to logon to the website and send the mail from there. Ha-ha. Logon and all you can send are their form questions from the FAQ section.

The following e-mail came through the other day and has made my blood boil.....

 

Dear

 

We would like to remind you that your MiniCredit overdue loan balance is £313.00.

 

If we are unable to recover full amount within next 10 days we'll send Your account to THE DOORSTEP COLLECTOR and You will incur extra costs.

 

We may also contact Your employer and start legal action against You. We also report the status of Your outstanding account to Credit reference agencies. All this process affects your credit score adversely and ability to receive credit in the future.

 

 

Best regards

 

Minicredit.co.uk

Debt Collection Team

 

I was in half a mind to send them a letter telling them to go and perform indecent acts upon themselves and each other, but I would be grateful if someone could help me compose a reply that I won't live to regret.

The only mistake I may have made is that I sent the cancellation letter and cheque by normal post. It didn't cross my mind to send it by registered post, but I will not believe that they didn't receive it.

 

Thanks in advance

[Delboy01]

Re Minicredit, my OHs thread:-)

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?279679-Minicredit-advice-please

[ihateyes]

Keep everything documented.

Report them to the OFT for their somewhat empty threats.

 

THEY CANNOT CONTACT YOUR EMPLOYER.....

To have the money deducted from your wages, they have to apply for an attatchment of wages which is only GRANTED BY THE COURTS.....

 

Keep all texts/letter/emails and counter sue for harrassment.

[Grumbleguts]

Thanks for that. My issue is slightly different. I have attempted to cancel the agreement - as is my right, but they have just ignored my letter. I absolutely refuse to pay any interest or charges.

I really need to know what I need to say in a letter to them as it seems that they are going to be difficult.

I have all the e-mails saved and I will gladly make a complaint to the OFT or the FS Ombudsman.