Payday express....... Please help!!!!!! **

[dx100uk]

if you feel they are threatening

fwd them to the OFT

 

dx

[Heropanda]

If it helps anyone out, i was told in an email that they register a default on any account three months after you miss the payment regardless of whether you're on a payment plan or not.

[toptrapper]

If it helps anyone out, i was told in an email that they register a default on any account three months after you miss the payment regardless of whether you're on a payment plan or not.

 

Heropanda - can I ask who told you this? Payday Express themselves?

[Heropanda]

Yes i've got it in an email from their collections teams 'At 90 days past the original due date whether an agreed repayment plan is in existence or not we will register a default on your records with credit reference agencies.'

[toptrapper]

Is this allowed considering you've been in regular contact with them?? I'm not worldly wise enough to understand? Hopefully someone more up to speed with default regulations can comment. Or, try stepchange on 0800 1381111?

[renegadeimp]

Just remember guys, they can mark a default. It's morally wrong when you are in a repayment plan, but remember, PDL's dont respect morals or the law. They do whatever they like. All they care about is money.

[roseyln]

Not to be rude by they are a LOAN company who lend out money, so of course they are going to care about money. You've signed an agreement with them and now you want to take longer than 3 months to pay back a 30 days loan. You are not sticking to the credit agreement and so yes they should give you a default, to warn other companies that you're not so good at paying back people their money.

[renegadeimp]

Roseyln if you had any idea about the industry or the law and regulations that govern it, you wouldnt have made that post.

[toptrapper]

Roselyn,

Likewise, not wanting to be rude but have you read the thread? I can't see where anyone is trying to get out of repay the loan, I can though see examples of companies refusing to treat customers fairly, or with respect? I'm sorry you have an issue with this but it's a basic courtesy and it's strange that you're unable/refusing to see this provided to customers.

[roseyln]

My response was to renegadeimp comment about PDL companies only caring about money, not regarding the way they treat their customers. I do know about the regulators, such as FOS and the OFT and i'm sorry but PDE are not doing anything wrong by applying a default on your credit file if you don't pay the loan back within 90 days of requesting an INTEREST FREE repayment plan. If they were then im sure the OFT would have done something about that by now. If you don't want a default then you're more than welcome to look into the other options that loan companies offer, such as deferring your loan or doing partial clearance.

[Tigerlily2786]

Sounds to me like someone works for these companies

[toptrapper]

Roselyn,

 

"PDE are not doing anything wrong by applying a default on your credit file if you don't pay the loan back within 90 days of requesting an interest FREE repayment plan. If they were then im sure the OFT would have done something about that by now".

 

It's not "free". Copious and large amounts of interest were charged upfront and the PDL as more than likely added default charges to enter a payment plan. You appear to suggest the PDL market to be some form of charity institution, they're not. Have a read of some of these threads - you're eyes may open. The whole payday loan market is under OFT investigation, 81% of complaints made to FOS for 2011/2012 were upheld in favour of the consumer? No-one can prejudge the OFT guidance, but are you suggesting that an uphold rate of over 4 in 5 by the independent regulator; confirms that PDL's care about customers? Or, do they care just about £££ as renegadeimp suggested?

[roseyln]

If interest is being added then you are not really on a repayment plan, because that of course would be pointless wouldn't it. Regarding the person that said they got a letter stating after 90 days they will apply a default on your credit file, whether a RP is in place or not, then yes that is what they will do if you are set up in an interest-free RP or if you just decided not to make any form of payment for at least 90 days. This is what I am referring to. I haven't read the whole thread because I don't care what happened in 2011 or 2012, I am referring someone who posted recently.

 

In regards to the figures, I am assuming this is for PDL companies as a whole right? Not for PDE alone, which is who we are discussing? If PDE are in the wrong then fair play, I will always say I believe so....but in regards to the credit file comment, all I am saying is if certain people take out a short-term 30 days and 2 weeks later decide to call them to enter an Repayment Plan (which would be interest free if they agreed to it) then they deserve a default, unless there is a genuine reason. I have read threads where people have the excuse 'I have just taken out too many payday loans' so want an RP and for it not to affect their credit file. Errr no, take responsibility for your own borrowing please.

 

In response to Tigerlily that's a silly comment. I'm guessing most people here work for the OFT right? Just because I read the fine print doesn't mean I work for them.

[renegadeimp]

I think he;s referring to the fact that you joined CAG this month and your posts have been on a random PDE thread defending their actions and attempting to blame the debtor.

 

Besides, from all your posts, it seems you have a very weak grasp of what the companies can and cannot do under guidance and regulation/law.

[toptrapper]

Roselyn,

 

You claim not to have read the whole thread, why? Have you taken the opportunity to read any other threads? You're making assumptions without reading what's available? It's the same as saying Hitler was a charming chap (i'm invoking Godwins law here, sorry mods) as he was a non-smoking, non-drinking clean living vegetarian who never forgot mothers day? Selecting a single statement in isolation to base your argument doesn't strike as taking the full facts into account?

 

You're right that 82% relates to the PDL complaints submitted to FOS as a whole and are not split by company and doesn't include (yet) companies that have had less than 30 cases investigated. If you have the breakdown for PDE, feel free to share? I disagree it as fair to dismiss FOS complaint data as they're the only agency that are impartial and will view both sides. Taking the view of either the consumer or company in isolation does not provide a beneficial barometer to provide meaningful evidence for discussion?

 

You suggest that the default is merited without unless their is a genuine reason? I agree. I suffered a mental breakdown, lost my job and my flat. This was considered, by PDE - not genuine, the repayment plan was turned down and interest continued. I raised a complaint with FOS, who upheld my complaint which followed PDE confirming in their final response "we believe your complaint is frivolous and without merit". I comment here to try and help where I can and share my own experience, and as I haven't had the misfortune of using a wide range of PDLs', I cannot comment that they're no worse/better than other. I hope, with my own experience; they're one of the poorer ones and would benefit from stricter regulation? Just my opinion, based on my experience.

 

That said, it's a nice sunday night and I don't want to argue too much. You know what? I do not think you have some interesting points, certainly regarding repayment plans and their merits, how these can be arranged etc etc. Having submitted my own evidence to the OFT consultation paper I await with interest what their findings will be. That said, can I suggest you start a new thread as I think it's unfair to hijack this one? I'd be happy to continue the debate there?

 

PS, I neither work for the OFT or FOS. That said, I strongly commend their work due to their impartiality.

 

Best wishes.

 

TT

[renegadeimp]

That said, can I suggest you start a new thread as I think it's unfair to hijack this one? I'd be happy to continue the debate there?

 

THats actually a good idea. It saves thread derailments, like this one, and keeps all opinion, positive and negative to one area.

[roseyln]

I have no clue why you are arguing over what I said, jheeze it's easy to get under your skin isn't it. I have not read the whole thread because I didn't want to, its that simple. My reply was to 2 comments I saw, not the whole. thread. I'm not going to start a new thread if your the kind of person that takes turns someones opinion into an 'argument'. I'm not in debt with any of these companies so if you're going to get angry then please forget my posts and go ahead and listen to people that favour you. Sorry you don't like hearing negativity. Conversation done.

[dx100uk]

at the expense of extra interest and unlawful charges

 

dx

[dx100uk]

one wonders WHAT your purpose was for joining CAG

 

we are here to give HELP to people....not kick them...

 

dx

[toptrapper]

Roselyn,

 

Sorry this thread wasn't what you were looking for. I hope you find a fora suitable to share your opinions and can feel comfortable in engaging in a debate in an environment more appropriate.

 

I still think you have some interesting points; I just find it a shame you're unwilling to debate (I wouldn't class this as an argument) further.