peachy loans?

[scotslad26]

hi i have been currently repaying back my payday loans one by one but i am struggling to pay off the loan i have with peachy loans i owe 200 and i am wondering if anyone has had any dealings with them coming to a repayment plan with them?

 

any help much appreciated thanks

[PDLVictim]

Hi scotslad26,

 

Peachy (CashOnGo) had arranged a repayment plan with me over 12 months. They will however not freeze interest, but instead revert to a realistic interest rate (e.g. 20% instead of 4000%).

[Jamie Kingston]

it sounds reasonable although I believe they might "have" to freeze interest rates if you are in difficulty. I dont think I would put up a fight if it's reasonable in what you are repaying to what you should have repaid.

[ihateyes]

it sounds reasonable although I believe they might "have" to freeze interest rates if you are in difficulty. I dont think I would put up a fight if it's reasonable in what you are repaying to what you should have repaid.

 

CAB would advise the company doesnt have to freeze interest, but ost companies do.

[wigan89]

I've had issues with setting up a repayment plan with them before. I offered a reasonable amount per month but they refused and haven't been in touch since. The loan probably stands at £1000 now but i've not worried about it at all as i contacted them to arrange repayment but they refused to help.

 

Just don't panic, report them and do nothing else.

[renegadeimp]

Oft guidance says intersst should be stopped if the debtor is having problems meeting current repayments. Adding on interest, therefore pushing the debt higher so the debt cannot be realistically repaid can be seen as an unfair business practice.

[scotslad26]

hey thanks for the reply guys. where they quite easy to set up a plan or take alot of time? i owe 200 willing to pay 50 per month will they set up before i default?

[wigan89]

hey thanks for the reply guys. where they quite easy to set up a plan or take alot of time? i owe 200 willing to pay 50 per month will they set up before i default?

 

The first repayment plan i offered them they accepted and that was £40 per month at £10 per week. I couldn't afford that some way through so i emailed them again for a lower repayment plan and they refused, threatened me with legal action etc and that's the last i heard from them - must be getting on for 6-7 months now so my loan is probably sitting at over £1000 including charges - but what can they do?

 

They've put nothing on my credit report, not even for late payments.

[scotslad26]

i have sent them an email about a plan i will keep you updated. dont no where i would be without this site:-)

[scotslad26]

just an update i got a 4 month plan set up which im quite happy about. as the other op said there is a small interest charge goes with this

[renegadeimp]

They shouldnt apply a charge like that, as its completely unjustified. They added it purely for their own back pockets.