Peachy & Mr Lender Issues - help please

[suemumof3]

I have been struggling to get out of the payday loan hellhole for a while now but with the help of a friend am down to 3 loans.

 

Money in Advance - £219.50 outstanding - arrangement in place

Peachy - £134.80 outstanding

Mr Lender - £450 loan plus interest outstanding

 

I emailed Peachy and explained circumstances, they replied the only option was to rollover. Contacted bank and cancelled CPA by phone and letter. Today had email adding charges and stating these will rise daily. Sent email advising them that I had contacted them yesterday and they would not entertain sorting out a payment plan and did not assess affordability when offering rollover. I told them that this is a complaint and I am happy to take the matter to FOS and then put my offer of repayment to them - no response yet!

 

I emailed Mr Lender yesterday after paying yet another rollover fee though they have not once assessed affordability and I guess I have done this 4/5 times! I also cancelled CPA with bank. They are yet to respond, should I do anything else?

 

If anyone has any suggestions relating to this lot I would be happy to hear them I cannot afford Peachy adding 1% a day on the debt

[renegadeimp]

Tell peachy to have a look at their credit licence and OFT guidelines on debt collection and restate what they told you.

[suemumof3]

I can't believe it!! Had a few emails from Mr L today agreeing to freeze interest and no charges and accepted my proposal of repayment with no issues

Still waiting on next response from Peachy after reminding them of the guidelines and how they clearly breached them!!

That Govan Payday loan survival guide is a must read, I am absolutely thrilled that this seems to be going my way!

[suemumof3]

this is the latest response from Peachy

 

"Thank you for the e-mail.

 

We are sorry to hear about your situation and in case you are not able

to afford the payment in one go, then we would be willing to offer you

a repayment plan. For this, please send us the exact date when you

will be having the funds available and confirm if you would prefer to

make weekly, monthly or fortnightly payments. We will then request the

best offer from our Credit Committee.

 

Until we haven´t arranged a repayment plan our system still tries to

collect the full amount and also additional charges and interest will

be added."

 

I am really annoyed, they seem to be adding more and more charges by the day, today has seen another £12 charge and £2 fees go on there, what should I do????????

[renegadeimp]

Ignore the charges. They are unlawful penalty fees.

[suemumof3]

Just had another email stating that the best offer they can give me on a payment plan is £47.43 October, £57.23 November and £57.07 in December. I am happy that they are looking like they will agree but only 2 hours ago the total with their unlawful fees was £148.20 it has now increased to £161.73!!!!!!

[suemumof3]

Please be advised that by law, we are not obligated to consider

arranging a repayment plan without any evidence of inability to pay in

full, and accurate income and expenditure information. The fact that

we are willing to do so, is an exception which we are considering only

in order to help our customers who are experiencing financial

difficulties. As responsible lenders, we do not approve avoiding

repayment for any other reason and this is why we require proof of the

situation before we revise the existing Credit Agreement. Any other

arrangement must be suitable for and confirmed by both parties before

it can be set in place.

 

We have made the exception from our side this time and offer you the

repayment plan until the 24th of December 2013.

Please be advised that originally the loan has been taken for 30 days

period and you have agreed to repay the amount of £183.40.

Please note that if we are able to accept the repayment plan for

further 3 months,

there will be small daily interest added, as a short-term lender we will not

be able to accept the repayment plan with no interest, as we are deferring

the payment for another 85 days.

 

Oh god this is getting out of control now, what should I do, just rollover (if you pardon the pun) and accept or fight. I have already made payment of £75 so in total the full cost will be £236.73 for £100

[sequenci]

Have you sent them a financial statement? A lender would have an obligation to give serious consideration to your offer if they can see that it is reasonable - this is standard practice throughot the industry.

 

Seq.

[suemumof3]

No I haven't, would you suggest that I do this? I have one from the Money Advice Service that I can use.

[suemumof3]

I sent a few emails to Peachy stating a few facts that I don't think would go down well in with the FOS and OFT and have great pleasure in being able to tell you that a payment plan is now in place with no additional charges and I am able to pay by bank transfer as well. I am absolutely delighted and had I not been on here I would never have felt so empowered to continue the fight.

Lesson learned - never ever ever ever again will I take out a payday loan!!!

[suemumof3]

I thought I would give an update on my situation. I managed to successfully arrange payment plans with Peachy (bit of a nightmare), Mr Lender, Payday Express and Money in Advance.

 

I am now free of Payday Express and Money in Advance and on 24 December will have paid off Peachy with just Mr Lender to go which will be cleared in March!!!!

 

I am still awaiting evidence (signed copys of agreements from Wonga and Lending Stream) to show the true debts before I set up any kind of payment plans, they have been sold on and my credit rating is through the floor anyway so I am not chasing, but I do have many emails stating that this is evidence I require before I enter into negotiations in case they want to try and take me to court.

 

Life is looking so much better and though things are still a little tight, I am not paying out hundreds of pounds a month to PDL companies any more

[wilko011178]

Hi suemumof3, how did matters progress with lending stream and wonga?

[suemumof3]

Hi, I have Lending Stream chasing me round the houses but they wont actually provide any info that I ask for!!! They have passed it to Mucky Hall. I have had to enter into a DMP with StepChange due to an ongoing and not going away issue with Student Loans Company and have just added the debt to that. If I am honest I cannot be bothered to fight anymore.

 

As for Wonga, not heard a peep and I have not chased it, if they do rear their ugly heads again, I will ask for the information again and see what they come up with, I certainly wont be chasing them!

[renegadeimp]

Mr lender are very well known for ignoring the rules. They are one of the PDL's that think the rules and law do not apply to them.

[neil6534]

Today I had great news - FOS has uphelp my complaint against Mr L on the basis that Mr L said that they didn't need to carry out expenditure checks and in addition after my first loan on which I was 2 months late in repaying that this should have alerted them to any new loans being unafordable to me. So thats re-imbursement for 3 loans - all fees and interest refunded plus 8% interest and removal of all Mr L records from my credit files. Just now have to wait for Mr L to dissagree with the findings as they surely will and esulate it with FOS.