Payday Express plan

[Shev]

Hi Like a lot of people on here I managed to get tangled in the payday loan web... after a lot of emails and interest I managed to set myself up on a payment plan for most companies apart from Payday express. They say that in order to be set up on a payment plan and interest to be frozen I need to fall into certain categories, I explained I was in financial hardship due to over commitment to payday loans and that it's the reason I can not afford to carry on with the roll over (£100) a month.I would like to come to an agreement with them to pay back the £400 I owe however they don’t seem interested. I have candled my cards and they no longer have my details so wont be able to get any money but what do I do next?If anyone has been in the same situation and can offer some advice I would really appreciate it.Many thanksShev

[alice.in.wonderland]

Re-approach do not give in at 1st go, get all formal, persistant and put it all in writting

letter sent recorded delivery to Customer Care Dept at Kent House 41 East Street Bromley Kent BR1 1QQ as emails are allien to them depending on who your name is

There telephone droons are not to be trusted in anyway thats why u'll need to keep of the fone and don't take what they say to heart tho they thoroughly deserve the reputation of 'black hearted' company - give them NO bank statements or debit card details - plenty of ways round this

 

Let us know wot happens next, oh and you might also want to report to OFT (Office of Fair Trading) for starters, there is a form to fill in which can be fonud on this forum - don't lose sleep their not worth it

 

Alice

 

[renegadeimp]

Hehe. Their registered office is above a fish and chip shop. How cute.

[Shev]

Hi Alice, thanks for your advice, the loan will default tomorow, i did have some emil back but there just all the same :

 

Thank you for your recent email.

 

Unfortunately we are unable to continue with your repayment plan application.

 

We are unable to set a repayment plan unless one of the criteria’s mentioned in our previous email has caused yourself financial difficulties.

 

However there are other options available to you to help clear your loan, such as our clear and extend program or deferring your loan until you are in a better financial position.

 

Should you wish to discuss these options or your account please call our office on 0115 908 1163 and one of our advisers will be able to assist you.

 

Please do not hesitate to contact us should you require any further information.

 

 

 

Regards,

 

Payday Express

 

No doubt they will start ringing in the morning ill just tell them to check their post. Does anyone know how long it is before they pass the debt on? I cant believe they are so difficult all the other companies were fine with a months interest there a joke.

Thanks again

[renegadeimp]

Tell them to read the OFT guidance regulations which they are governed by. As well as the CFA code of practice.

 

They say "We are unable to set a repayment plan unless one of the criteria’s mentioned in our previous email has caused yourself financial difficulties. " When the OFT regulations clearly state that if you are in any kind of financial difficulty and can prove it, then they must comply.

[Shev]

OK so Quick update, Loan defaulted and the phone calls start. i try not to answer as they are just automated telling me to contact payday express which is annoying as there like every 30 min. Emails sent again and finally a reply from an actual person !I sent the income expenditure sheet but not bank statements, awaiting a decision. the thing is i am left with nothing now this month as all my money has gone on Pay day loans so they cant have anything until next month.Thinking about joining a debt management company as i thought i could solve this myself but i offered too much to the other companies Advice on DMC are appreciated

[toptrapper]

Do not answer the phone to these people as they have been known to "lose call records" afterwards.

 

Keep a note of all the calls you're receiving, all the e-mails you have sent and get complaining to FOS, OFT and Trading Standards.

[Guest Poguesy]

Go through their complaints procedure and email them at customercare@paydayexpress.co.uk

 

This worked for me and it's worked for others.

[toptrapper]

Might be worth sending a copy e-mail also to Customer.Care@dfguk. com

 

These claim to be the Customer Care Team of PayDay Express.....

[renegadeimp]

its an address that redirects to the money shop. Hmm. seems a little intriguing.

[toptrapper]

Payday Express, Express Finance, The Money Shop, Dollar UK Financial and add in Castlebridge. All part of the same suite of companies.

[asmilecostsnothing]

The Money Shop is owned by DFC Global Corp. registered in England as Instant Cash Loans Ltd (they have a Natwest bank a/c) these can also be tied in with Payday Express

 

 

I hadn't appreciated The Consumer Finance Association was FOUNDED by the Money Shop so that explains why Mr Laimdey seems to have disappeared of the face of the earth I reckon

[t1ger10]

Hi All

 

I am new to here and have the same problem with PE (I am due to default tomorrow).

 

Anyway, I recently made a complaint to PE as I paid off my last loan within 5 days, but PE still charged me the full interest of £120 + £480 loan. I expected a rebate on the interest payment. I had several exchanges of email with PE who advised they will not refund any money. I then found a loophole regarding their credit agreement...as they were not providing me with one!! They wrote to me last week refunding my full interest payment of £120 for my previous loan!!! But I am not giving up there...I asked for interest on top (yes, the same rate they charge lol)..and will now take this up with the FOS.

 

But to the point now regarding PE, they stated several times in their responses that the 1st credit agreement you sign up to is like a rolling one and basically that is your credit agreement. Any new loans you take out with them does not create a new credit agreement, hence your first credit agreement remains in place.

 

Now tomorrow, I will write with a repayment plan and if they refuse....well......I will dispute their debt because i have found another possible loophole...in my first credit agreement (which they claim I should abide by) states that I have a credit limit of £400....therefore, why did they lend me £700 (on my existing loan), surely this should be void as they are legally required to draw a credit agreement, but i have no credit agreement for my £700 loan. Any advice / opinions? Maybe others should check this?

 

 

cheers

[renegadeimp]

haha what a bunch of Muppets. Each loan has to have its own credit agreement.

[2009dg]

Hehe. Their registered office is above a fish and chip shop. How cute.

 

I go to that fish & chip shop lol live 5 mins away

[Shev]

Okay so Quick update, nothing back from the managers yet there still apparently looking into the fact i cant afford to pay it all in one go. they have manageed however to add another £80 onto the sum for interest meaning £160 in interest after its already been rolled over..... I will contest this once they actually reply to me...

[2009dg]

So I've done all the emailing should i now send a letter? I have log of all calls on my phone the 0115 number. Can someone point me in the direction of the complaints form.

[toptrapper]

here you go, get started and let us know how you get on. If they're still refusing to respond, this only adds more evidence to your complaints.

 

http://www.financial-ombudsman.org.uk/consumer/complaints.htm

 

www.oft.gov.uk/shared_oft/business_leaflets/credit_licences/oft366.pdf

www.oft.gov.uk/shared_oft/Credit/complaint-form.pdf

[2009dg]

Thanks, they have added interest and now claim I owe £240, I don't think so.

[toptrapper]

So, they're continuing and deliberately ignoring you so they can add interest? Include this as part of your complaints.

[renegadeimp]

Pretty much all PDL's do that toptrapper. Their excuse is that they cant suspend the loan or arrange a payment till it defaults. When that happens, they slap on a default charge, various "admin charges", then interest on all that, then add it all up then try and get more interest on top.

[toptrapper]

Agreed renegadeimp that they do, however it doesn't make it right, fair or reasonable?

[renegadeimp]

No it doesnt. . Thats why agencies like the FOS/OFT have "regulations". If you suspect a PDL of breakign those regulations, then you NEED to get a full complaint in with both as soon as possible.

[toptrapper]

No it doesnt. . Thats why agencies like the FOS/OFT have "regulations". If you suspect a PDL of breakign those regulations, then you NEED to get a full complaint in with both as soon as possible.

 

Wise words!

[2009dg]

I have a new address for them:

 

4th floor Northside House

69 Tweedy Road

Bromley

BR1 3WA