Pounds to Pocket Bank Details anyone?

[Super Daz]

Hi

 

I'm having a heck of a time with these guys trying to set up a payment plan. They have accepted my offer of £10 per month but say I can only pay with debit card or direct debit which of course is a bad idea.

 

I've asked them if I can set up a standing order or pay cash into their bank but they told me they dont have a bank account !!

 

Anyone got bank details for these jokers?

[pb8111]

Pounds to Pocket

PO Box 47

Sheffield

S98 1DR

 

i send them a cheque every month

[renegadeimp]

Just be careful with a cheque as your giving them your bank details. Its not unusual for some lenders to take those details and set up another method of payment.

[Super Daz]

How can they claim to not have a bank account? I've heard they are actually based in America & dont have a credit license here. Is that true?

[renegadeimp]

Yes. Thats correct. Thats also why they cant collect an unpaid debt themselves. They have to sell it on.

[Super Daz]

If thats the case isnt it illegal for them to lend to anyone in the first place?

Edited July 24, 2012 by Super Daz

[Super Daz]

I've just received another email from them saying they dont accept standing orders & a postal order will take 4-6 weeks to reach them. What on earth are they talking about? 1st class post will reach Sheffield next day if thats where they really are. I've already paid £800 on a £500 loan with them - I'm almost at the stage of saying forget it - they arent getting any more out of me now.

[renegadeimp]

Their offices are in the United States. They only use mail redirection services here, and their UK registered main office is the same place dozens of suspect companies operate from.

 

If you have paid £800 on a £500 loan, then tell them they arent getting any more. You have paid the loan, interest and a hefty amount of charges too. It's time to let this one die out. If QQ sell the alleged debt on, any prospective buyer are going to have trouble enforcing or justifying the debt if the remainder is made up of unfair charges ( which it sounds like it is).

[Super Daz]

This was a 12 month loan which had a couple of months left to pay when I got into difficulties & stopped paying. The total to pay was £949 over 12 months I believe.

[renegadeimp]

How much was the original loan plus interest. Them trying to charge "contractual" interest on a long repayment plan could be seen as breaching OFT guidance, as it can be taken as inflating the debt to an unreasonable amount. However, its rarely black and white and more details would be needed to see exactly what you do owe, and not what they say you owe.

[Super Daz]

The orignal loan was £500 over 12 months. Total payable over 12 months was £949 or so (worked out at about £87 a month).

I had paid 10 months worth I believe & now owe just £143 or so.

The actual interest rate etc is displayed on their website (277%).

[renegadeimp]

Ahh. So it wasnt a payday loan then. QQ gave you an actual low amount real loan.

[Super Daz]

Thats it yeah. But P2P are refusing any payment method other than Direct Debit or Card payment. Both of which I refuse to do in case they try to clean out my account.

The dont accept standing order, bank transfer, cash into bank account, paypal or any other payment method.

I've said I'll pay any way but card, cheque (I dont have a chequebook) or direct debit & they say they can only accept card or direct debit so we are in stalemate.

[renegadeimp]

SInce P2P are quick quid and dont have a UK bank account, its not surprising they wont accept any other method of payment. That also breaches OFT guidance on debt collection.

[Super Daz]

In that case it doesnt look like they will be getting any more out of me.

[renegadeimp]

http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/OFT664Rev.pdf

[Super Daz]

I've looked through that link thanks but I cant find the relevent section. I'd like to reply to them with the link & point out the part which they are not complying with.

[Super Daz]

The are now threatening doorstep collection - even though they refuse any payment method I offer (ie any one which doesnt reveal my bank account details or card number).

[renegadeimp]

Send the doorstep collector letter and ignore them.

[PoundstoPocket]

Hi Super Daz,

 

I'm glad we were able to work out a payment plan for £10 a month with you. In terms of methods of repayment, if you feel uncomfortable with direct debit, debit card, or cheque, we can work together on an alternative payment method. I've spoken with our team and made them are aware of this thread and your username so they are familiar with your situation if you choose to work with us.

 

It sounds like you have been in touch with us before, so please get in touch with us by your preferred method of communication again. We can't discuss personal account information via public forums so, for your safety, please do not list any personal details of your account here.

 

Additionally, there seems to be some confusion about Pounds to Pocket on this thread. Pounds to Pocket does hold a UK Consumer Credit Licence. Our Consumer Credit Licence # is 603395.

[renegadeimp]

We know you hold a consumer license. Even though you use mail redirect centres instead of an actual office.

[Super Daz]

I'll email poundstopocket later & see what they propose do. I'll report their response here & hopefully will have satisfactory conclusion to this matter.

[Super Daz]

OK so I contact Pounds To Pocket as their rep on here suggested - their first response was (copied and pasted so all spellings etc. are exactly as they appeared in the email):-

 

Thank you for contacting ponds to pocket.

 

However, In order to set up arrangements on your account. Please provide us with your 16 digit long number , cv2 code and expiration date. You may also set up arrangements with your sort code and account number. If you have any questions please contact us back via email or land line which is free.

 

Thank you choosing ponds to pocket

 

Pounds to Pocket Collections Department

Direct Line: 0800 635 0844

Fax: 0808 234 9350

Collections@PoundstoPocket.co.uk

http://www.PoundstoPocket.co.uk

 

-----------------

OK so I emailed back:-

 

In my previous emails I indicated that I can't pay using a debit card, credit card or direct debit.

 

In your reply to me on the CAG forum you said if I contact you then you would arrange an alternate method of payment.

 

Please tell me another method I can use to pay you instead and I will start to pay you.

 

------------

 

And their reply was:-

 

*We are in receipt of your email dated 8/7/12 and your account has been notated.

 

We can offer you 6 payments of £23.85 each but we can only set up the payment arrangement via your banking details, which we requested before.

 

If your would like to set up this arrangement please provide us with updated banking details and the day of the month you would like the payment to process.

 

 

Pounds to Pocket Collections Department

 

Direct Line: 0800 635 0844

Fax: 0808 234 9350

Collections@PoundstoPocket.co.uk

http://www.PoundstoPocket.co.uk

 

---------

 

So as we all expected - they are not doing what they promised earlier in this thread. I'm really fed up with them now so I think my next step is the OFT & FOS. Sorry Pounds to Pocket - you had your chance.

[renegadeimp]

Dont provide them with those details. If they wont accept postal orders or standing orders, then they dont get paid. If you have a dormant bank account you could use that. As for their final response, it is NOT up to them how they are paid and how much. IT is up to you and your financial circumstances.

 

They might be able to get away with it in america, but not here. Remember, Quick Quid and Pounds to pocket are the same company.

 

As for their rep, you can see they are just idiots posting things on here to try and force you to play the game their way.

[Super Daz]

I'd like the rep to post back here & explain why they are being so difficult. Also I'd like the rep to state on here exactly how people can pay them if they are unable to provide card or bank account details.

I suspect we wont hear anything back from the rep which will prove they say one thing on here and another when you actually contact them direct.