Mini Cash - Nightmamre

[charles34c]

Hello,

 

I was stupid enough to take out a loan with these people. Basically last week I asked them to delay taking payment by 2 days. They refused and added 25 + 55 and now daily interest plus about 5 pounds each time they try my card. (Which I have had to block) My stance is because I consider this to now be in dispute. My loan of 150 has now escalated to 327 and they seem to be adding about 15 pounds per day!! (It was only due on the 14th and I asked to pay it on the 16th which they refused, hence this dispute)

 

I have even had to change banks!!

 

I really do need advice. I have emailed them this morning:

 

Was hoping if anyone can advise anything else I should do or not do.

 

Thanks

 

 

PLEASE INCLUDE ALL COPIED BELOW ON ANY REPLY.

 

NOTE ALL CORRESPONDENDE IS BEING SENT IN DUPLICATE TO CAB/FOS. (FOS - Please retain for your records)

 

IT IS ODD THAT YOU WILL SEND ME EMAIL FROM support@minicredit.co.uk but will not respond to any sent to you and insist that your website is used!!

 

ALL CORRESPONDECE SHOULD BE VIA EMAIL AND NOT YOUR WEBSITE WHICH OBVIOUSLY KEEPS NO HISTORICAL RECORD.

 

Hello,

 

 

Thanks for your reply below.

 

 

Firstly I contacted you as below with a reasonable request, which any reasoned mind would consider to be fair, yet you showed no interest in helping.

 

I clearly stated funds would not be available on the 14th yet you still went a head to try and take payment, and applying your 25 pound default charge, showing no flexibility.

 

 

I must stress I have no issue re-paying the funds owed (£195) as soon as possible, and do understand the T&Cs, although whether they are fair and clear, well that is open to debate, but yes I did sign them.

 

 

It is odd that on the orignal application I stated my pay day was on the 15th, yet you set things up a day early, i hope this was not done with the intent of hoping people default, but yes again I should of read the contract more carefully.

 

 

Anyway first I would like you to provide a clear illustration as to how my outstanding balance has escalated to £329.50 pence which I need to present to trading standards and the FSA/FOS.

 

 

It is my understanding that at worst it should be £265. (Loan of £150 + Interest £45 + Default 1 £25 + Default 2 £55) should = £265

 

I have no idea how it can escalate to £329 in less that a week of being overdue and going up by the day!!!

 

 

I WILL COMPROMISE AND OFFER A FIGURE OF 220 POUNDS. (Loan £150 + £45+ one penalty of £25)

 

 

IF THIS IS ACCEPTABLE I WILL PAY THIS TOMORROW VIA UKCASH. HOWEVER PLEASE CONFIRM IN WRITING IF THIS IS THE CASE.

 

 

IF NOT WE CAN LET THE COURTS AND FSA/FSO DECIDE. (A meticulous record of all corresondence including screen shots of what I sent on your site is being maintained)

 

 

I am sure you will have fun justifying how a loan 3 days late has more than doubled AND EXTORNIATE INTEREST IS BEING ADDED DAILY

 

 

The FSO/CAB advised me that I should insist all correspondence should be conducted in writing.

 

 

Copies of all correspondence will be given to my CAB adviser and FSA/FOS so a independent record of this complaint is kept.

 

Best regards,

 

 

I feel I am striving to resolve this however being offered no help or compromise.

 

 

Best regards,

 

 

 

 

From: Minicredit Claims Department claims@minicredit.co.uk

-- do not edit --

 

Dear,

 

A MiniCredit Claims Department member has replied to your claim, #253356 with the following response:

 

The Following Final Response is being sent to You according to the Formal Complaints Procedure described in the pre-Contract.

 

The due date may be from 1 to 42 days but it is always chosen by the customer on the slider which means the loan needs to be repaid on that day they have chosen.

 

Microcredit Ltd provides short term payday loans. The Customer chooses the due date him/herself and it is also possible to apply for the roll-over latest on the due date and keep the loan for another period of time if the credit check result allows You to. The Loan Agreement was signed by Yourself and sent to the e-mail address You entered on our webpage during the registration. According to the Loan Agreement You have to make all payments with a debit card and the only possibility to make payments is available on Your MiniCredit.co.uk online account.

 

We accept all payments You make and may provide You up to 90 days from the due date to clear the balance before Legal action is started. All the overdue charges and interest have been added to the balance according to the Loan Agreement and will be added until full repayment.

 

 

We hope this response has sufficiently answered your questions. If not, please do not send another email. Instead, reply to this email.

 

Kind regards,

Minicredit Claims Department

 

 

 

 

Good morning,

 

 

 

Amount oustanding - £195

 

I am sorry but could I please pay the above loan on the 16th of February, rather than todays due date.

 

I assure you the full amount will be paid.

 

Just waiting for some funds to clear.

 

I would appreciate your understanding on this, thanks.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Edited February 20, 2012 by charles34c

[asmilecostsnothing]

Remove name/email addy from your post - use edit post within 24 hrs do not let yourself be id on here - it's proven these companies are no strangers to this board

Edited February 20, 2012 by asmilecostsnothing

[asmilecostsnothing]

You've done the right things, just use that Final Response to really esculate this and keep strong