Cash genie and other payday loans - HELP!!!!!!!!

[Sophia1205]

Hello

 

I've been reading a lot on these boards for advice and have followed the advice but seem to have hit a brick wall! I have a loan with Cash Genie who have been unwilling to communicate with me at all - in fact I received an email this morning saying that my payment to them had failed (which I'd told them it would several times) and that I could pay the whole balance plus half the interest within 14 day - and then be entered into a prize draw!! Eh??

Payday Express have demanded a letter from my employer saying my hours have been reduced (which is why I became unstuck) and also 3 months wage slips - they won't even think about a repayment plan until they receive these

Swift Sterling are acting typically from what I read on here - saying one of there advisors will contact me shortly by phone - despite me saying email contact only

The only ones that have played ball is Txtloan - affordable repayment plan in place - and were very polite on emails.

I still have Peachy to deal with - had the 'extend' offer this morning.

 

Any advice would be greatly appreciated as I don't feel I'm getting anywhere and worried about fines and fees etc (I have asked them to freeze interest etc but haven't had much reponse )

 

I'm so annoyed I got myself into this mess - please advise on what I should do next, thankyou

[silverfox1961]

Hi and welcome to CAG

Try not to worry about their 'fees' and 'fines'. These mean nothing. They can add them but you can get them removed.

 

If you have a continuous payment authority set up with any PDL and/or your bank, you would be well advised to cancel it with both.

 

In the library are letters to help negotiate with them and also some budget planners to help you work out what you can afford.

 

You could remind them of their obligations under the debt collection guidance from the OFT who licence these companies.

[Sophia1205]

Thankyou for your reply,

 

Still heard nothing from Swift Sterling although I did send them a email this morning (I found the template on in here:-) Thankyou to the person who wrote it originally) :

 

Dear Sir/Madam

 

This is the 3rd email I have sent, notifying you of my financial situation and repayment plan. I have not had a reply to any of them yet.

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 £30 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 £30pcm which will be paid on the 10th 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 £30pcm

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

 

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.

Kind Regards

I must admit the phonecalls seem to have slowed (29 missed calls yesterday ) I sent the same message to Cash Genie who quickly emailed back and accepted an affordable repayment plan! Stating "because I'd been such a good customer in the past" (this was my first loan with them)

 

Getting somewhere - just worried about Swift Sterling being so quiet (and sinister?)