Help - Threatening texts from M T Collect

[LauraBelfast]

Hi,

 

My interest payment or full loan repayment was due today. I emailed CFO this morning saying I was unable to pay and would like to set up a payment plan. Response form CFO - Laura if you do not pay the interest by 2pm your account will be passed to MT Collect.

 

2.30pom - received text message from 'REMOVAL' saying "Laura, I am due to call to your address today. to stop action call 01617381202 to make a token payment. Ian Davies CASE ID 219116"

 

I tried to call twice but it rang out. Then I Googled MT Collect and ended up here.

 

I don' have any way of recording my phone calls with them. I am terrified they are going to land on my doorstep, as I still live at home. Had someone call at my door a few weeks ago . Fortunately they were much more pleasant and reduced my balance significantly. My Dad ended up paying my debt which I know have to pay back monthly. I don't think he will be anywhere near as understanding if the same thing happens again.

 

I have transferred my wages into my savings account so they hopefully cant take it. I get the feeling that even if I do make a payment I am going to be continually harassed and threatened with door step calls! I live in N. Ireland if this is of any help.

 

Please help as I'm really stuck about what to do!

[asmilecostsnothing]

No-one will call round Laura, the numerous threads on these recently have never amounted to anything. You do however need to report them to whoever will listen be it The British Cheque & Credit Association Financial Ombudsman Office of Fair Trading Trading Standards Consumer Direct Don't be put of if some may tell you to write them (CFO) a letter of complaint for starters

[LauraBelfast]

Thank you asmilecostsnothing.

 

This may sound stupid but i'm quite inexperienced. Do you know where I could get information on how to report them?

 

Also, should I contact CFO/MT Collect in any way to arrange repayment?

[asmilecostsnothing]

Hi Laura Start on Consumer Direct - can be found online on the direct . gov . uk website (u might have irish equivelent) sorry on a machine when I cannot directly post site links : ( Take a look though some of the posts and u might find numbers or web address BCCA - bcca.co.uk Only contact CFO in writing, but I don't know got to say sometimes I did think what would happen if I didn't but everything will go your way if your showing willing Please don't be scared - think sticks and stones may break but words will never hurt xx

[Not_happy_Tone]

Hi Laura.

I second what asmilecostsnothing has said and thank you asmilecostsnothing for your response.

I do want to make payments towards my account, but I can't trust these people.

So I not sure what to do next. I think I'll call them next week and tell them I'm happy to pay X every month but only through Standing Order.

Just remember that there are lots of us in the same position. It easy to think your the only one going through this.

[asmilecostsnothing]

BCCA is trade association for Capital Finance One (they are members)so they should follow a code of conduct and should be reported on this ground as they are clearly breaking it in their treatment of debtors

[asmilecostsnothing]

Hi Not Happy ... Please no phonecalls. Letter or email is best if you can x

[Not_happy_Tone]

Good point.

I'll email them and report back how I get on.

[LauraBelfast]

Thanks both of you.

 

I am in the same situation Not_happy_tone. I do want to pay but only X amount per month with standing order - surely this should be enough to get them off your case. Any other company will set up a payment plan, possibly review it now and then but will generally be happy.

 

I can't believe that CFO say despite having a regular plan in place they will still call, text, email and turn up at your door, it's outrageous!

 

what address is best to write to or email for these people?

[LauraBelfast]

I have emailed James to say I am willing to make a token payment and set up payment plan on the understanding i will not receive further demands for the full balance. i said any time they need to contact regarding other issues should be done via email or letter. i will post his reply tomorrow.

[LauraBelfast]

just noticed this at the bottom of their email:

 

Failure to make at least the interest payment today will result in a fine of up to £75 being applied to your account.

 

surely they can't 'fine' me?!

[dx100uk]

they cant FINE anyone , its not a criminal matter!

 

and anyhow, that will be deemed a 'penalty' and as we know

they are against oft/fos/ioc/fsa regs/guidelines

 

id post that email off to them too!

 

any chance you could fwd it to me in a PM please or here

 

take out all pers info though

or do it by PM and i'll santise it

 

dx

[LauraBelfast]

hi DX,

 

thanks for your reply, all help and advice is greatly appreciated. I dont have enough posts yet to PM but I'll paste below, minus personal details.

 

Good Morning

 

Your loan repayment due to Capital Finance One today has failed.

 

If you have requested to defer your loan today, the interest payment due has failed.

 

If you haven't request to defer your loan then the full payment hasn't been made, you can still take the option to defer but will need to pay the interest today and also confirmation your February pay date.

 

Please provide us with debit card Information so that we can make the agreed payment.

 

Card Number:

Start Date:

Expiry Date:

CVV:

Next Pay Date:

 

Failure to make at least the interest payment today will result in a fine of up to £75 being applied to your account.

Please call our Collections Team on 0208 166 1472 or respond directly to this email.

 

Regards

CFO COLLECTIONS TEAM

 

to which I replied:

 

 

Hi,

 

I am unable to repay the loan in full, or repay the interest today. Would it be possible to set up a monthly repayment plan?

 

after which I got the text

 

Laura if you do not pay the interest by 2pm your account will be passed to MT Collect.

 

and on it goes.....

 

 

I am going to ask for a full breakdown of original loan and interest etc as I'm unsure about the amount they say i have outstanding

 

also, the doorstep visit letter mentions English Common Law - I assume this is still applicable in NI?

[dx100uk]

no-one ever calls so dont worry

 

thanks for the email here

 

dx

[LauraBelfast]

Great thanks DX.

 

I'm going to report them to the ombudsman and OFT tomorrow.

 

One more thing, assuming my request to set up a payment plan is refused, what should I do next? Is reporting them enough? I obviously am willing to pay back any money I owe, but at a reasonable rate and preferably without interest.....

[dx100uk]

then just do it

use your internet banking site

 

you haven't got ask their permission!

 

dx

[LauraBelfast]

yes, i know, thats fair enough.

 

But from reading through all the different threads, I can see some seriously high charges being added to my account

[dx100uk]

they are penalty charges and are unlawful

 

dx

[LauraBelfast]

I took a loan out a long time ago with CFO. Defaulted on it today. Was given until 2pm to pay interest or it would be passed to MT Collect. 2.30pm 2 x text messages from MT Collect titled 'REMOVAL'. told me they were calling to my house today unless I called to make a token payment. tried the tel no twice - no answer. Googled it and ended up here

 

Feeling a bit less stressed in relation to the doorstep call but very worried about the amount of 'fines' and charges i will incur. I'm simply not willing to pay them. Have emailed asking for a payment plan but dont have much hope!

 

I will pay them what I can on a set date each month. ill sit up until midnight to see my wages go in and transfer them straight into my savings account. Will look into gettin a new bank account but my credit rating is awful so i dont think ill get one. Any suggestions where I would be successful?

 

when paying them is it best to get their bank details and make a payment online rather than setting up a direct debit? or will this make no difference - will they continue to try to take money as and when?

[LauraBelfast]

Thanks. So I pay back only what I owe (original loan amount + interest) then simply stop paying them?

[dx100uk]

i cant see why not

 

there is noway any pdl co will ever go to court for solely unlawful penalty charges

 

dx

[havinastella]

just noticed this at the bottom of their email:

 

Failure to make at least the interest payment today will result in a fine of up to £75 being applied to your account.

 

surely they can't 'fine' me?!

 

Does this say 'fine'?

[dx100uk]

post 21

 

dx

[sillygirl1]

Pay them online.

 

Get a Halifax Easycash account set up - you can do this online and then you have a safe account for your next lot of salary to go in.

[LauraBelfast]

havinastella - yes - 'will result in a fine of up to £75 being applied to your account.'

 

still not heard back from the email i sent to James Keeble but did get a letter in the post. It states if I fail to make payment then my account will be passed to MT Collect - funny how I've already had 2 texts form them then - talk about not giving you a chance!