Payday Loans stopping a CPA and Santander

[ollyhawkeye]

Hello all,

 

I am getting closer, I think, to being in a position to get control of my finances. I have set up a parachute account for my wages, cancelled my card (lost/fraud) sent letters to all of the lenders asking for a repayment schedule and withdrawing the authority for the CPA.

 

I walked a letter into my local Santander to try and get them to stop the CPA their side and it's taken them three days to get back to me, but they have managed to register a dispute against each of the lenders. They have just said to me that regardless of this is the PDL go to VISA they can still get the transactions authorised!! How is that possible??

 

Santander appear to be supportive and would like me to provide them with all of the evidence of communication between the PDL and myselves.

 

The current situation is that I have not deafualted on any of my PDL yet, I have written to them explaining I will not be able to make payment and requested that they put me into a repayment plan. Should I also be doing this via e-mail or just leaving it to recorded delivery letters.

 

I cannot enter a DMP with StepCHange as my I&E puts me at a negative due to me being paid commission every month.

 

I just want to get on a repayment plan as quickly as possible so that I can get out the other side of this horrible mess. The stress is really starting to hit home as I have bills coming up that I just won't be able to pay.

[Jamie Kingston]

I would always advise contact with the lenders in writing and as early as possible to avoid them adding charges. I dont think you need to waste money on recorded delivery letters, an email exchange is more than sufficient. Contact them before default and offer x amount per month for x months. You have done the riht thing with Santander and the lenders, normally this will work, it's only in very rare circumstances that I have heard lenders being able to debit payments even after the card has been cancelled and CPA as well. Let us know what else you need.

[ollyhawkeye]

The first response was from swift sterling. They stated that they will be attempting withdrawal of the full amount immediately plus a default fee. All I did was tell them I wouldn't be able to make the payment.

 

What is the next step? Reiterate the situation again, stating that they would be unsuccessful in trying to take full payment?

 

Has anyone any experience with them and repayment plans?

[MARTIN3030]

They stated that they will be attempting withdrawal of the full amount immediately plus a default fee.

 

They would be in breach of fair business practices / regulatory guidance if they were to do this after you have informed them of the situation

 

[biggeorge]

If you have ensured all your income is protected away from these **** in another account you have nothing to worry about.

They will try and take funds from the account you gave them but if you don't have any funds available they won't be paid unless the bank want

to put you into an overdraft which will then be another matter.

 

Just sorted out my wife's Wonga loan in a similar fashion.

1: Letter to bank withdrawing authority for any CPA on her account (recorded delivery)

2: Hand delivered letter into same bank

3: Lost Debit Card reported.

4: Letter to Wonga explaining authority to debit card is no longer authorized.

5: All income moved to an alternative account

 

It seemed to have worked although the bank (Halifax) have not replied to either letter as

asked to confirm all CPA have been cancelled but neither have any funds been taken.

 

Now just need to sort out a letter for Wonga with a payment plan to cover the loan at a

rate wife can afford and not what they want.

 

George

[ollyhawkeye]

So should I reply just stating the situation is the same asking for bank details to start making payments etc?

 

I'm happy my money is safe but I just need to cajole SS into a repayment plan without them trying to force money out of my account or adding ridiculous default fees etc.

[ollyhawkeye]

Right I just thought I would give everyone an update on how I am progressing.

 

Cards Cancelled and new Bank account opened as above.

 

No reply from Wonga or SwiftSterling.

In negotiations with Lending Stream and 1st Stop

QuickQuid were the easiest to deal with, although only to repay the first part of the loan.

 

So far no calls to home phone just the mobile and the usual barage of texts but nothing threatening (although i am sure that will change).

 

I am really struggling financially this month but I have and will not take out another payday loan to pay my way through the month.

 

I'll update again as I go through the mill with these guys.