Good communication with CG so far

[jelly1001]

Just wanted to let those of you who have a payday loan with cash genie how I've managed to get them to play ball. I wrote the following email to them the day before my roll over amount was due:

 

I would like to set up a payment plan. At the moment I am unable to keep making the interest payments on this loan. It is causing me to suffer financial hardship. I have a few payday loans and they are too much for me to manage. So therefore I would ask that all interest on the account be frozen and no charges added. I fully intend to honour the debt payment and will arrange to pay the amount borrowed plus one months interest. I offer a payment of £50 per month which will be paid by faster payments from my bank account. I remove all rights for you to take money from my account. I withdraw your authority to take regular payments from my bank account. I have also agreed this with my bank and they will not authorise any payment requested by you. I have not missed any previous payments. Please accept my offer of £50pcm which will be paid on the 1st of every month via faster payments (please allow up to 3 days for this to go through depending on your bank). To enable this please provide me with:

Your agreement to £50pcm

Your Agreement to accept the total amount borrowed plus 1 months interest.

Your agreement to this payment plan and to freeze all interest and charges

Your companies bank account number

Your Companies Sort code

The reference number you want me to use

As soon as I receive this information I will make an immediate payment of £50 via my online banking faster payment service for this months payment.

 

Please note I will only discuss this in writing/email, I will not call any number to arrange a payment as I will be bullied by your collections department into making payment amounts I can't afford, meaning missed payments and my account going into default. I do not want this. I want to pay what I owe. Under no circumstances do I give you permission to call my works number. You must delete my works number from any contact list you have for me. I do not wish to be contacted on my mobile phone number, but if you would like to leave a message this will be acceptable. If you do constantly text or call me this will be seen as harassment and a log of all calls and texts will be sent to the OFCOM and the OFT which means you will be liable to a substantial fine. As it would put you in breach of section 40 of the Administration of justice act 1970 and the protection from harassment act 1997, and also the communications act (2003) s.127 Any calls from your company will be recorded.

A few hours later I had this reply:

In regards to your situation, I will be happy to help you. If you were to enter a payment plan with us your total loan will add a month interest (in which you already know based on your email) your loan with us is £260.00 and adding a month interest it will become £320.00. We accept your payment of £50.00 a month until you paid of the total of £320.00. Here is our bank details: etc

I am very happy with this outcome and have made my first payment to them as promised. I did have the loan for about 4 months and rolled it over and paid on time previously and told them before any missed payment, so not sure if that makes a difference. Good luck to all others, just wanted to let you all know it could be done, well with this company anyway.

[AJ2012]

Well done Jelly! Can't believe you managed that one!

 

Defo going to use the myself if you don't mind?!!

 

Also, what email did you send that to?

 

Thanks AJ2012 x

[jelly1001]

I sent it to customersupport@cashgenie.co.uk and had a reply from M.Malabi@cashgenie.co.uk

a few hours later. Out of all my payday loans, this was the easiest to speak to by far, no rubbish, no fuss, just an agreement to the amount + 1 months interest. Gave me their bank details and they even emailed me to confirm when payment was recieved. Of course you can use the text, thought it might help others.

[Bombaymix]

Wowzers @ that response!!!!

 

Looks like M Malabi is the person who has some common sense and some respect and empathy to people situations!

 

The joy of everything! You have everything there in writing so they can't backtrack on what they've said!

 

Well done on that result!