Pde help!

[jojo1984]

I am in a bit of a mess with a few pdl. I have asked each 1 for a repayment plan...and as most of the post show PDE are being very difficult.

 

I gave them 2 options-

 

• £130 a month as a repayment off my existing loan and not as a roll over fee- as this is what I have been paying to rollover the loan for the last few months.
  
• £50 a month untill we can come to an arrange as a 'goodwill gesture'
  

They have not replied.

 

The loan is due out of my bank tomorrow, what should I do-

• leave £50 in
  
• leave £130 hoping theyre not going to use it as a rollover fee.
  

I have not defaulted on any PDL as yet.

[renegadeimp]

You need to secure your bank and money as a priority. Get the card cancelled and instruct the bank to cancel the cpa relating to pde and also to block all transactions on the account. dont let them try and tell you that you must talk to the lender first. The law changed in 2009 to say its between you and the bank. Not you and the lender.

[jojo1984]

thank you. luckily when I set up this loan I gave them my old bank detais so I do not have any income going in whatsoever. But when its due I transfer cash from my other account into this. How much should I transfer in as I cannot afford to keep rolling over?

[renegadeimp]

Tell them you want to default and do not want to roll it over.

[jojo1984]

Hi,

 

Defaulted on pde and they sent the following email-

 

We would like to inform you that we are willing to accept a proposal for a repayment plan arrangement.

 

Interest and charges will be frozen on the account while the repayment plan remains active.

 

A repayment plan does not vary or release you from the terms and conditions of the signed loan agreement, so if you fail to comply with the terms of repayment plan we have the right to obtain payment of the full amount outstanding together with accrued interest and charges from any of the debit cards that you have supplied to us.

 

At 90 days past the original due date whether an agreed repayment plan is in existence or not we will register a default on your records with credit reference agencies.

 

 

Regards,

 

Payday Express

 

 

what do I do now? does this mean I have 90 days from now to pay my loan, or from when I got it- about 63 days ago? Do I need to email them back saying I agree to this xxx amount per month or wait for them to give me a agreed amount?

 

Thanks

[renegadeimp]

Dear oh dear. They think their terms and conditions override regulation and law do they.

 

As for the time you pay back your loan, there is no time limit. You pay back what you can realisticaly afford. Even if it means £1 a month for years.

[jojo1984]

and I thought they was been nice.lol.

 

Where do I go from here?

[renegadeimp]

Restate your repayment plan, and this time tell them that it is NON-Negotiable, and due to the continues harassment and threats they are sending you, you will not be entering into any correspondance until your repayment plan is agreed.

[renegadeimp]

Yea, that NEVER happens unless the debtor decides to start legal action or defend themselves against the PDL's breaches of OFT guidance and unlawful business practices.