Too many payday loans :-( can't pay anymore.

[renegadeimp]

Theres a reason they are called 'Legal Loan Sharks'

[Myfamily]

I've just had enough of them now, I'm paying three of them including £10 to lending stream, I will just keep track till I get to £142 then stop as that is all I believe I owe to them although they have sent another e-mail yesterday syaing that it's £272 now!

 

£10 to Quick quid

£10 to Paydayuk.

 

Wonga wrote to me on 15/03/2013 - I have not replied, don't know what else to tell them as will not be sending any more of my personal info I gave them an I& E form, but they wrote this.

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

 

Hi, We have used the information you provided to evaluate the circumstances of the customer. We really do appreciate your current financial difficulties; however, on the basis of the information you provided, there is no offer made. We also need a list of creditors and the amounts outstanding with them, please provide us with your reason for your current financial hardship, along with any evidence to support that fact.

We do require the following:

REDUCTION IN SALARY- Salary

ReceiptBill prints or proof of debt

P45 if currently unemployed or

Proof of Benefits.

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

 

none of which apply to me, and are none of their business anyway!!

 

Paydayexpress are still calling and texting despite me sending them the telephone harassment letter by e-mail on 15 March and again offering £10 per month and asking them for bank details, but I have had no reply! I refuse to speak to them on the phone.

 

What else can I do??

[renegadeimp]

Do not supply them with ANY of that info. They have no need or right to see it. THe only thing they need is as follows.

 

Loan 1 xxx

Loan 2 xxx

 

Credit card 1 xxx

Credit card 2 xxx

 

Sign it as a declaration of fact and they are pretty much obliged to come to an agreement.

[Myfamily]

Hi All,

 

I have now received a default notice from Express Finance! Who have been ignoring all e-mails from me - they have ignored my request to stop calling ad texting me. I am livid. I have been making the same offer and getting no response. I have alsready threatened to report them to OFT because of the phone calls, but do I have to make a complaint to them first or does the telephone harrasment notice that I sent them by e-mail count?

 

Any advise please?

[renegadeimp]

Can you post the default notice? A lot of pdls send a notice of sums but try to say its a default notice.

[Myfamily]

Hi Renegade

 

Please see attached, Oh and postman just came with a lovely letter from Mackensie Hall, - I have paid two payments of £10 to lending stream even though they haven't agreed to an arrangement and the letter still says I owe £272.00 which is not right. it should be £142.

[renegadeimp]

That looks like a genuine notice. However, why arent they allowing you to make repayments? It seems they are using the default notice to effectively blackmail or force you into THEIR demands.

 

Regarding Mucky hall, tell them to bugger off as they are only acting on behalf of the creditor and they have no legal rights whatsoever. If they dont go away, then complaints will be filed with the OFT and their local trading standards office ( who have a very big file on their company).

[Myfamily]

Hi Renegade,

 

Thanks for your reply. Do you think I should now be maing a formal complaint to Payday express then and then the OFT - or straight to the OFT??

 

Also today I have found two messages on my home phone from Mackenzie Hall - who are working on behalf of lending stream. and I was working tonight and a call came in from a strange number - I didn't answer but my manager did (this was around 8pm!!, we have Voice over internet so it loggs the calls) I looked up the number and it was Mackenzie Hall!!!

 

I am so livid!! I am thinking of calling them tomorrow (recording it of course) and giving them a piece of my mind, I have no idea what they might have said to my manager, but I doubt that my manager will tell me that they called.

 

Lending stream have ignored my last e-mail at the end of April which was basically asking them why they are able to make an agreement by e-mail for the amoutn of £25 per month but can't make and agreement by e-mail for £10 and keep insisting that I call them!??

 

I am so angry that they've called my workplace, and I have read that they will continue - I need to stop them otherwise I will get into serious problems at work!!!

 

Please advise.

[Myfamily]

Hello,

 

I have today made a formal complaint to lending stream and they are the ones ignoring me|!! they have told Mukky Hall that there is no legitimate reason why I have not made payment which is a lie, I gave them I&E and explained, also paid them £20 so far - want to make arrangement to pay £10 per month, but they are refusing!!

 

I have explained to both that they are not allowed to call me at all! especioally at work and also explained to them that their behaviours are against OFT guidlines.

 

Advised Mukky Hall to pass account back to Lending stream as there is also a dispute over the amount owed as they continue to ignore my request for a breakdown of what they think I owe them!!

 

Does anyone have any more thoughts of what I might have missed??

 

Thanks

[Myfamily]

Any thoughts please?

 

Payday express called me again today, I answered becasue it was from and different number and they asked how I was doing!! Ha, felt like screaming at them but luckily for her we got cut off!

[toptrapper]

if you're thinknig Payday Express will somehow obtain some morals and deal with you fairly; you'll be waiting a while.

 

Send off formal complaints asap to payday express and the OFT.

[Myfamily]

ok this is a joke now!

 

I worte to Paydayexpress via e-mail again today, as they are still calling me. Started it as an offical complaint so I can move it on to FOS. see below.

 

To whom it may concern

 

Please treat as an official complaint

 

I have still not received any WRITTEN response to my e-mails below dated 14 March and 30 April. I am still recieving DAILY phone calls and texts which I should not be receiving as I have requested contact in writing only!

 

You now have 8 weeks to address all of the issues below before I excalate the issue to the Financial Ombudsman Service.

 

1). No response to continued offers of repayment.

2). No reponse to my request to cease all attempts to communicate by telephone.

 

And the response I got was this.

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

 

Thank you for your recent contact.

 

Unfortunately we are unable to continue with your repayment plan application.

 

Our accepted criteria for a repayment plan is proof of one of the following:

 

· Significant Loss of income

· Unexpected change in personal circumstance, e.g. Long term sickness

· Severe Disability or illness (including close family members)

· Terminal illness or Mental illness (including close family members)

· Deceased (including close family members)

· Redundancy or Reduced hours (contractual hours reduced by company)

 

Our opening times are: Monday to Friday: 9am – 5.30pm

 

Although we are unable to accept your payment offer, please contact our Financial Difficulties Team on 0115 908 1163* so we can discuss alternatives in assisting you or you can contact us at collections@paydayexpress.co.uk.

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

 

I have been e-mailing their collections address but they keep insisting that I call them and I am refusing to do that, so we're stuck!!

 

I have asked if this is their final response to my complaint and then I will forward it all to FOS I suppose.

 

 

Wonga are even more stupid.

 

I e-mailed them last on 14th March and they said based on the info I provided there was no offer made, which is rubbish as I cleary offered £10 per months - they clearly just don't like it!!

Then yesterday I got an email from them stating that they have intention to issue a default notice and I should pay within 28 days, or they will also instarust and DCA.

 

So I sent this today.

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

 

Please treat as an offical complaint.

 

I have been in contact with you last on 14 March and provided a very detailed Income and Expense spreadsheet. I have explained that I am in financial difficulties at the moment and I have offered to make payment of £10 per month.

 

However the only reply I have recieved is this.

 

Hi,

 

We have used the information you provided to evaluate the circumstances of the customer.

 

We really do appreciate your current financial difficulties; however, on the basis of the information you provided, there is no offer made. We also need a list of creditors and the amounts outstanding with them, please provide us with your reason for your current financial hardship, along with any evidence to support that fact.

 

We do require the following:

REDUCTION IN SALARY- Salary Receipt

Bill prints or proof of debt ;

P45 if currently unemployed or

Proof of Benefits.

 

 

I have stated and shown you (in I&E form) what I can afford and I am not willing to provide any further personal or financial information to you, my personal situation and other finances are not your business.

 

I require your bank details so that I can make payments of £10 per month from 25 May2013. Please also provide a breakdown of the amount owed.

 

If I do not recieve a satisfactory repsonse to this complaint then I will escalate and make my complaint to the OFT.

 

In the meantime I am requesting that you put a hold on any further action on my account, including registering any defaults and referring to any debt collections agencies. If I recieve further communication regarding a default or debt collection agency then I will proceed straight to the OFT without further notice.

 

I look forward to receiving your reply and coming to a satisfactory resolution.

 

Thank you.

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

 

I have now got a reply from Wonga as follows

 

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

 

We're contacting you about a financial matter related to Wonga.com and reference *******.

 

You may have already been contacted about this in the past, but it is possible that your situation or the terms being offered have changed.

 

 

See if action now can save you money by visiting this link

 

https://clearmybalance.wonga.com

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

 

So I visited the link and wnet through the screens and got the attached.

 

Don't they think that If I had that sort of money I would have paid them!!

 

Feel like I'm banging my head against a brick wall!!

Any advise?

[toptrapper]

Payday Express.

Keep pushing. you've lodged a complaint and been ignored, you've made a reasonable offer of payment and been ignored, asked reasonably to deal in writing and been ignored. (I'm sure you can see the recurring theme here). Complaint NOW to OFT and Trading Standards. Keep a log of all their feet stamping and threats as evidence for your complaints. 8 weeks after your initial complaint to Payday Express you can complain to FOS (using the evidence you've already gathered). You can make the FOS complaint sooner should Payday Express send you a final response which is probably unlikely considering their complaint handling skills aren't great. Make the payment you've offered them on the date you've agreed by internet banking/recorded delivery cheque. These guys are nothing but playground bullies, they;ll stamp their feet and shout a lot but so far you're doing nothing wrong, just don't be intimidated.

 

Wonga - As above. You've told them what you can afford. Make the payment as you've offered.

 

You've making reasonable attempts to make payments despite which is is the right thing.

Edited May 21, 2013 by toptrapper

[Myfamily]

Hi Toptrapper.

 

Thanks for your reply, this is the reply I have got from Express today.

 

Thank you for your recent email.

 

Please be advised we are willing to accept a proposal for a repayment plan to be placed under review in 6 months.

 

In order for us to be able to set up a repayment plan you must complete the Income & Expenditure Form attached and also provide the following information:

 

Payment Amount – please confirm a regular payment amount suitable to you to repay your loan

 

Payment Date – please advise when you can make your first payment, and a consistent date going forward for all your payments.

 

Payment Method – please advise which method payment you would like to use from the following options:

 

Debit Card - We can automatically debit the payment from your Debit Card on the agreed date only, or you may call in to our offices.

 

Standing Order / Direct Bank Payment - You may set up a standing order with your bank or transfer the funds via your bank to Payday Express.

 

Our bank details are as follows:

 

Barclays Bank

Account Name: Express Finance

Account No: 30066850

Sort Code: 20-24-61

 

On all payments please quote reference:****

 

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 the 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 120 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

 

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

 

Please contact the Financial Difficulties Team on 0115 908 1163 in the next 7 days to set up your arrangement or reply with the required information to collections@paydayexpress.co.uk

 

If you do not contact us then interest and charges will continue to accrue as well as collection activity in line with our collections policy once your account falls overdue.

 

Our opening times are: Monday to Friday: 9am – 5.30pm.

 

Best regards

 

Express, Collections Support

 

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

 

They haven't mentioned anything about the amount of phone calls they have made to me, but they usually ring in the morning so I'll see what happens tomorow.

 

But my other issue now is the next e-mail that they sent today after the one above, which is as follows

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

Overdue Loan ID – Reference Express Finance (Bromley) Limited

Thank you for agreeing the payment arrangement scheduled below to clear your outstanding debt.

Date Due Amount Status

28/05/2013 £683.40 Outstanding

 

You may find it easier to manage your account online by using the following link https://applications.paydayexpress.co.uk/AccountManagement/a/Login or if there are any changes in your financial circumstances which means that you are unable to keep to the agreed repayments then you can also call us on 0115 908 1162* where one of our advisors will be happy to help. Further action may be taken to recover the full balance if you fail to maintain payments in accordance with the above arrangement. Our arrears department is open between 08:00-21:00 Monday to Friday or 09:00-16:00 Saturday. Regards, Express Finance (Bromley) Limited

 

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

Now my orignal loan was for £400, i have logged into the express account online and it shows this but then shows total repayable is £516 and then total outstading payments is £683.40!!! Where on earth have they come up with that figure. As far as I'm concerned it should be £516. loan amount plus 1 months interest. I don't want to agree a payment plan on something that is over £160 more!

[toptrapper]

Demand they provide a breakdown of this £683 as half the charges are likely to be unfair and unenforceable. As far as the I&E is concerned, demand that they refer to the one you've already provided, they're fishing for more info than their entitled to and simply put they can whistle for it. You've told them what's affordable and you now have their bank details (don't give them your card details, they can't be trusted). I note they're using their standard threat of "If you do not contact us then interest and charges will continue to accrue as well as collection activity in line with our collections policy once your account falls overdue"; simply put; you have been in contact. You suggest in your last contact you haven't mentioned the phone contact - make sure you do! You've been entirely reasonable and honest in asking for repayment options and you've been harassed and ignored. This is their problem, not yours.

 

The simple fact they've sent 2 emails that contain entirely contradictory information suggests they cannot control they have no ideas what they're doing and more than likely they do not have the ability to ensure client records are kept up to date. Keep both emails as evidence for FOS, OFT and TS. Please send off the complaints asap. The link to the Complaint Form is half way down the below link. The more evidence is provided; the more regulatory action can be enforced.

 

http://www.oft.gov.uk/OFTwork/credit/payday-lenders-compliance-review/

[Myfamily]

Hi Toptrapper,

 

Thanks for all of your help, I absolutely agreewith everything you said. I will make payment to them using the details they have given and in the meantime I'll demand a breakdown of their figure!

 

Oh and I think I was uclear re the calls, They have called and texted me everyday since Feb and I have aksed time and time again that they stop but they were ignoring all my e-mails. What I meant to say was that THEY have not said anything about stopping their calls to me and text messages.

 

Hope this clears it up! Do you think I shaould also mention that again and demand that they stop - I mean surely once and agreement is made they shouldn't continue to call anyway?

 

Thanks Again.

[toptrapper]

Ok, so they're ignoring you after you've demanded that they stop? This is totally against OFT Debt Collection Guidance and against the OFT Payday Lending Compliance Report. You now have hard evidence that you can and must use for the OFT (and FOS) Complaint(s). You can demand again that they stop and confirm to them all attempts they make will be referred to OFT and FOS. Payday Express obviously are either convinced the rules do not apply to them OR, they’re so far in the mire with the OFT that they’re being as aggressive as possible to get as much money in prior to the 12 week expiry.

Have a read of the below taken from the OFT Payday Lending Compliance Report. Any of these sound familiar to you?

· Many lenders are not treating borrowers in financial difficulty with understanding or forbearance. Many are promoting rollovers when borrowers would be better served by a repayment plan. Continuous payment authorities are poorly explained to consumers and their misuse is causing distress to a considerable minority of consumers, in some cases leaving them with insufficient funds to cover their most basic needs.

· Across the industry we have seen evidence of poor internal procedures and processes, including a failure to put in place effective complaints handling systems

· Overall, we found that attitudes to forbearance varied - only a fifth of the lenders we inspected had specialist teams in place to deal with financial hardship. Debt advisors told us that lenders tended to focus on recovering the debt rather than on negotiating an alternative repayment plan, freezing or reducing interest and charges or suspending collection activity. Furthermore, lenders may be promoting rollovers or using continuous payment authority excessively when borrowers would be better served by a repayment plan.

· Our inspections found that lenders’ collections strategies tended to focus on recovering the outstanding debt quickly and in full - 14 lenders operated employee incentive schemes designed to achieve this.

· Most lenders we inspected said they would consider negotiating repayment plans, freezing or reducing interest or suspending collection activity, but debt advisers - both not-for-profit and fee-charging - reported that lenders typically refused to respond and were often uncooperative, obstructive and difficult to negotiate with.

• We saw a number of examples of egregious practices such as call scripts instructing staff to say ‘your problem is not our problem’.

· Of the 686 complaints received during a six-month monitoring period, 61 per cent related to aggressive or unsatisfactory debt collection practices

OFT Debt Collection Guidance clearly states:

• Debtors should not be subjected to aggressive practices, inappropriate coercion, or conduct which is deceitful, oppressive, unfair or improper, whether unlawful or not.

• Putting undue pressure on debtors [...] is considered to be oppressive and an unfair or improper practice.

The Guidance sets out examples of unfair and improper business practices including:

• Contacting debtors at unreasonable times and/or at unreasonable intervals.

• Pressurising debtors to pay more than they can reasonably afford without undue difficulty or to pay within an unreasonably short period.

Take the time to have a read of the OFT website, you’re not on your own here!

http://www.oft.gov.uk/OFTwork/credit/payday-lenders-compliance-review/

[BRIGADIER2JCS]

Pressuring debtor to borrow to pay debt or to extend existing borrowing.

[EB1989]

Hi,

 

The Which? Consumer Rights website have some helpful information about when, how and who to complaint to about Payday lenders, and what to do if you can't pay yours back.

 

There is also a template letter to cancel a continuous payment with your bank, which might be helpful,

 

Good luck!

[Myfamily]

Hi Everyone, Thanks EB for that, I have already sorted out the CPA so no probs there, but thank you!

 

However looking back I have realised that I never sent Paydayexpress I&E details I had just told them that I was in financial difficulty and offered £10 per month. Anyway after reading Toptrappers e-mail re the breakdown of £683.40 that they say I owe them, I wrote an e-mail to them see below

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

To whom it may concern,

 

Thank you for your e-mail. I will send a breakdown of my income and expenses as soon as possible. In the meantime please provide a breakdown of the figure you have given in your second e-mail yesterday of £683.40.

 

Please also confirm that all contact will now be IN WRTTING and that telephone calls and text messages will now stop.

 

I will set up a faster payment for the 25th of this month to the bank account details that you have provided once I have received confirmation.

 

Thank you.

 

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

 

And today got this reply.

 

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

 

Account number: *********

Balance £683.40

 

Thank you for your recent contact.

 

We require your income and expenditure information, plus payment details before a repayment plan can be confirmed. Your account is on hold until close of business 27th May 2013, to allow you time to send this information to us. In addition to your income and expenditure, the following details are required to set up a plan on your account:

· Payment amount.

· Date of first payment.

· Dates and frequency of regular payments.

 

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 the 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 120 days past the original due date whether an agreed repayment plan is in existence or not we may register a default on your records with credit reference agencies.

 

Best regards

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

 

I am not happy!! They have still not given me a breakdown or confirmed that they will stop all telephone contact - I didn't want to send them I&E details without the breakdown of the balance owed because if they then confirm a repayment plan it will be on this "made up" figure that I don't agree with!!

 

Am I right??

[toptrapper]

As I said earlier, if you're waiting for fair treatment - you'll be waiting a while from these clowns. Don't be surprised if they continue to phone as it's clear they're still entirely incompetent.

 

Make your payment on the 25th as you've told them previously. Send them a simple I&E. Demand a breakdown of account. Get your complaints off to OFT and ICO. Don't be bulled into phoning!!

[Myfamily]

I thought as much, o.k. will send of the I&E and make payment on 25th, I will just have to make sure keep track of my payments and only [pay them the £516 that they're entitled to.

 

Thanks all for your help.

[toptrapper]

Keep recording the e-mails of them ignoring your reasonable requests to sort this matter out for OFT and FOS. Don't forget you're in the right here and don't be intimidated by these numpties.

 

Keep us updated on how you get on.

[Myfamily]

Thanks toptrapper, will keep you up to date. many thanks for your support.

[Chris2323]

Hello guys,

How do you manage to stop the continuos payment? Can my bank simpy do this? Do i have any rights to ring the pdl company and tell them to cancel it?

 

Thanks