Hello and Question Minicredit.

[BlackEyed]

Hello everyone, I'm new here and have a question to ask about the payday loan company, Minicredit.

 

I applied for, and successfully received, a loan from this company. I have been unable to pay the loan and thus the charges have begun.

 

The thing is this: there is no record of Minicredit sending me a loan agreement via email or post, nor is there any evidence of one when I log in to my account on their website.

 

I am currently in the process of adding this debt to a dmp (through issues with depression, this is one debt of a few) and was wondering what I can do.

I am of course willing to pay back what I owe, but only at what I can afford.

Any answers will be appreciated. Many thanks in advance.

[maroondevo52]

Hello and Welcome, BlackEyed.

 

I have moved this thread to the appropriate Forum, you should get some help shortly.

 

Regards.

 

Scott.

[dx100uk]

i hope all your debts SHOW on your CRA file

 

and

you've reclaimed ALL PENALTY fees an PPI

 

and

 

i hope the DMP is not a fee paying one either?

 

dx

[BlackEyed]

Just to update:

 

Got an email from Minicredit saying that my balance currently stands at £352.60 (they have added 25 and 55 to the initial 247, plus whatever interest). I haven't replied to it.

 

I did, however, send an email to them about my mental health issues and how I am willing to pay back the £247 that I owe them and nothing more.

 

I am going to be speaking about all this to my dmp advisor tomorrow and have been referred to a local financial charity by my Mind counsellor.

[maroondevo52]

Hi,

 

Make sure it's a free DMP company, hopefully your Mind councellor would have advised you of this and please let us know how you get on.

 

Good luck with that.

 

Regards.

 

Scott.

[BlackEyed]

I have a question:

 

Minicredit did not send me a credit agreement at any time during the loan period, nor does it show up on my account on their website. Anybody have anything to say about this?

[BlackEyed]

So yeah, I sent this email to them:

 

I writing to complain about the charges you are placing on my overdue loan.

 

I would like to outline straight away that I am of course willing to pay off what owe you - this being the sum of £247.

 

However, your practices do not adhere to the guidelines of the OFT.

To start, you did not send me a loan agreement via email or post, nor does it show on my Minicredit account. I am supposed to have a copy of the loan agreement and you have not provided me with this.

 

Also, I will be forwarding this debt to a debt management company and - again adhering to OFT guidelines - you are not allowed to refuse any payment plan that is offered to you if it is more than I can reasonably afford.

 

I have read stories about your company using to heavy-handed tactics to get money out of people, but being aware of all of these, if you are to threaten any of the actions that I have previously read about then I will make a complaint to the relevant institutions (namely the OFT and the FOS).

Again, I am of course willing to pay back the money that I owe you.

I have been seeking advice for mental health issues which are to blame for my taking out of payday loans - all I ask for you to be helpful in the process of my debt management plan.

 

Unsure whether it was the right thing to do now. I was rather emotional at the time.

[BlackEyed]

Kaboom!

 

Unfortunately I have not gone the conventional route with these people, so I don't think I will be of any help to anyone.

 

I paid them £100 thus far and they are willing to acceptment settlement of the rest of the debt (around £200 - I have conceded to pay one default charge) by the end of the month.

I spoke to them by phone and have received email confirmation that this would be fine and no doorstep collectors will be coming to my house (yeah, I had one come around but I wasn't in). I told them of my mental health issues and they have stopped calling and emailing me. I also mentioned I would be complaining to the OFT regardless.

My other debts have also been successfully to my dmp, which is another relief. So I think that I am nearing some kind of stability.

[renegadeimp]

Can you post the wording of the email minus any personal info? The wording of the confirmation must be specific as they are well known for taking settlement, but only marking your account and credit record as part settled. This allows them to sell on any remainder of the debt to someone else who wants some easy cash.

[BlackEyed]

The email reads:

 

Thank You for the information!

The payment of £100 is accepted and the doorstep collection is postponed to 30 days. Every partly payment postpones the doorstep collection actions for 30 days. You will pay 203 on 20 july 2012. This will be the full Repayment on your loan.

 

.Kind regards

MiniCredit.co.uk

Client Support Team

 

I paid them today and my account now says that the loan has been repaid. I asked them to close the account too.

[BlackEyed]

Just an update to my asking them to close my account:

 

As the outstanding loan was repaid today 20/07/12 with a settlement of £303 Your MiniCredit.co.uk account is now closed.

 

 

 

Kind regards

MiniCredit.co.uk

Client Support Team

 

DONE

[renegadeimp]

Have you made sure that they arent going to pass the remainder of the debt on? You want it Fully settled with no possibility of continuing.

[BlackEyed]

Have you made sure that they arent going to pass the remainder of the debt on? You want it Fully settled with no possibility of continuing.

 

I sent them an email asking them to make sure that I wouldn't be contacted any further by them or a third party regarding this debt and the above is what the replied with.

 

They also sent me an email asking to apply for another loan!

 

EDIT: I just called them and recorded the call, asking them to make sure that neither they nor any third party would contact me regarding this debt. The woman on the other end said yes to everything - "there will no contact about this debt anymore" "no claims against you".

 

Chalk it up, I think,

Edited July 20, 2012 by BlackEyed

[skadwad]

hi i took out a loan and for £100 which £80 went in my bank fell behind due to loosing my job now they want nearly 600 back said they are sendind a debt collector round to my house ???

[dx100uk]

start a new thread

 

see below

 

dx

[renegadeimp]

Sigs dont work properly in this forum DX

[dx100uk]

C

redit

R

eference

A

gencies

:

Experian

Equifax

CallCredit

noddle

 

Sort Your Debts Now - Follow this excellent guide-

here

 

How To Start Your Own Thread

:

http://www.consumeractiongroup.co.uk...on-Group-forum

1. Single Premium PPI Q&A

Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges

Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

my views are my own...seek legal advice if ness

NEVER EVER

- act on a private message asking you to visit another website, make contact 'off list' or by telephone

-

alert the siteteam IMMEDIATELY by hitting the black warning triangle on any message -

Particularly if this results in a request to pay a fee to help you.

rather than hittting to be my friend - hit the star

DX

Siteteam