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I am a little confused on what to do here. I took out a loan with Payday Express over a year ago now for £500, Since then it has been passed on to a debt collector working on their behalf called CCM, I've been making monthly repayments to them of £75. I have paid off the original 500 and now just owe £175 for the interest. In November I missed a payment of £75, I was waiting until they contact me to put it back in place. However... I am still waiting, it's been 3 months and I've not had one letter or call for them asking for the outstanding balance. What should I do here? I've paid the original loan back and they don't seem interested in reclaiming the interest? Do I sit and wait and hope it's for some reason been written off or do you think soon I will be receiving a letter stating some kind of legal action in the near future?

 

I have so many more creidtors who are my priority right now so I don't see why I should contact CCM/PaydayExpress if they haven't asked me too. Is this a little silly of me to try and ignore?

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  • 1 month later...

They will be back in touch I assure you. If they threaten legal action you could offer a monthly repayment plan that you can afford, and mention to them that even if it went to court, you would only be ordered to pay what you can afford anyway. So they should accept your offer and save themselves the time and expense of legal action. But state this in writing only, so you have proof.

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