Microcredit Vs Office Of Fair Trading - DUMM DUmm Dummmmmm!

[TheInQ]

About 2 months ago i made a complaint regarding a payday loan company who was basically trying to get me to pay £1120.20 for a loan of £120. I called the Office Of Fair Trading and they somewhat did agree that as i did take the loan i should have to pay it back but not at the costs they are stating so they accepted my complaint and said they would report it to the proper authorities aswell...

 

About 2 weeks after the conversation with the OFT i received a letter from my local council saying they are aware of my situation and wish me to explain further and to back up evidence of any communication between myself and microcredit.... Sorry to say i was not too impressed already explained all to the OFT so i did nothing!!!! sweet F All!!!

 

Sooo not less than 20minutes ago i recieved a call from the OFT regarding Microcredit askine ME if wanted to be a witness against Microcredit as they are preparing a case against them :O REALLLLY..... CAN I DO IT JUST NOW? Nope she said with laughter Hahahah we will call you next week for an interview over the phone that will last upto 1hr... Nice! Im very much looking forward to it!

 

 

So do you all think this will be the end of Minicredit/Microcredit or will they get let off with it?

 

Are they even trading legally?

 

Comments and suggestion where this is heading will be grateful!

[Welshy27]

I had the same email from OFT a few weeks ago and replied saying that I would be interested in speaking on the phone to them and possibly providing a witness statement but I've never heard back from them. Let us know how you get on next week when you chat with them.

[42man]

You must speak to the OFT of course, it is rare that they want to speak to 'victims' but you can be certain that they will be taking actoin......well done for talking to them..

[TheInQ]

Lets hope they get closed down.. Fair play if i need to repay the 120 i borrowed plus a months interst but no more, i would rather do jail time than be extorted!

 

Thanks for replys

[Sillyboywyn]

I have had he same with Toothfairy and they have been asking daily for different things from me.

[TheInQ]

I should maybe give them another call as toothfairy Defaulted me without sending an notice and from which im aware of but i may be wrong they have to issue one.

 

Is this correct anyone?

[Jamie Kingston]

they do in theory have to but the issue is that the finance is short term and therefore when payment is missed this constitutes as default.

[TheInQ]

After giving my statement to the OFT he said he will pass it onto Microcredit who can then give their side of events.

 

But a few things i mentioned scared them:

 

1. NO DEFUALT NOTICE ISSUED - How do i know if i have been defaulted

 

2. PASSING ON A DEBT TO DEBT COLLECTOR WITHOUT INFORMING DEBTOR - How do i know these people are acting on behalf of Microcredit, I'ts just hearsay.

 

3. DEFUALT MARKED ON CREDIT FILE @ £500 - So why are Mackenzie hall asking for £1111.20

 

4. NO CONTACT TO MY MOBILE OR HOUSE FROM MICROCREDIT - Why have they allowed the balance to reach this high

 

5. MY ACCOUNT IS BLOCKED ON MICROCREDIT - Why won't they let me go on and settle my debt?

 

6. PUT ON HOLD FOR OVER 15 MINS ON A PREMIUM LINE (10P PER MIN) - Why are they putting me on hold for such long periods?

 

7. NO RESPONSE TO MY E-MAILS - i THINK THIS IS BECAUSE THEY HAVE NOW PASSED THE DEBT ON.

 

This outfit is a bunch of snakes, they will lend you money no problem but as soon as you miss 1 payment they ignore you and pass the debt on. They are not acting under guidlines to help someone in debt fix thier problems which under OFT rules they should be.

 

PLEASE IF ANYONE ELSE IS HAVING PROBLEMS WITH THEM REPORT IT NOW - MORE IS LIKELY TO BE DONE IF WE STAND TOGETHER.