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200 quid oakam loan now 155,369.00!!!


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Yeah I have called the sun they don't seem intrested. Maybe dailymail but don't know there number

 

Probably because its late!!! ...

Daily mail contact details Here

 

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**Fko-Filee**

Receptaculum Ignis

 

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£10000 a month interest? They can be closed down for that or at least audited.

 

Give the FCA/OFT/FOS a call as soon as you can.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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£10000 a month interest? They can be closed down for that or at least audited.

 

Give the FCA/OFT/FOS a call as soon as you can.

 

OFT; 08454 04 05 06

FOS; 0300 123 9 123

FCA; 0800 111 6768

 

Think about it this way, the longer you leave it... the higher the interest and then as above from Renegade... They will be stung badly!!!

 

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**Fko-Filee**

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Just beens that theyve fallen off or the creditor hasnt reported them. Dont worry about them for now, deal with the main issue.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Also anouther strange one one of the creditors seems to be dropping its gone from 100 to 40 by 15 a month. I aint paying this so I don't know what's going on here

 

Like he said, focus on the task at hand!!

Ive just noticed that the info on your credit file is incorrect!

 

Acc Opened; 10th September 2013...

Sounds fishy!!

 

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**Fko-Filee**

Receptaculum Ignis

 

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Okay thats better...

 

Personally id make a huge shout out over this!!!!

Get in contact with the daily mail!! And also Stella Creasy!!

 

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**Fko-Filee**

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How many payments did you make to them, the default date looks completely wrong, should be registered 3 to 6 months after the missed payment date (as far as I can remember).

 

This lot sound really really bad, charging that amount of interest is appalling to say the least.

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Here is a link of their site showing a £200 loan over 6 months (I did this without filling in any info btw) http://www.oakam.com/en/

 

And a link from the Daily Mail last year...

 

http://www.dailymail.co.uk/news/article-2094115/Instant-money-loans-Payday-loan-firms-ruining-lives.html

Edited by sillygirl1
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Ford, you can only get a time order when it has gone to court - this hasn't got there yet. There are plenty of other ways of getting this stopped and reversed before going for a time order.

 

As it is a payday loan they are already under investigation so a report should immediately go to the OFT, then the FOS.

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Ford, you can only get a time order when it has gone to court...
no, a time order can be done before court action. and can sometimes be quite useful.

http://www.consumeractiongroup.co.uk/forum/showthread.php?382658-Time-Orders

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=06a_time_order_on_an_unsecured_credit_agreement

ok, was a suggestion 'aside from (ie in addition to) what already has been said' :)

Edited by Ford
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Ford, you can only get a time order when it has gone to court - this hasn't got there yet. There are plenty of other ways of getting this stopped and reversed before going for a time order.

 

As it is a payday loan they are already under investigation so a report should immediately go to the OFT, then the FOS.

 

Agree here...

This needs to be reported!

 

We could do with some help from you.

 

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**Fko-Filee**

Receptaculum Ignis

 

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no, a time order can be done before court. and can sometimes be quite useful.

http://www.consumeractiongroup.co.uk/forum/showthread.php?382658-Time-Orders

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=06a_time_order_on_an_unsecured_credit_agreement

ok, was just a suggestion 'aside from what already has been said' :)

 

A time order is inappropriate solely on the amount owed! 155k is extremely over the top...

 

We could do with some help from you.

 

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no its not irrelevant, its re the initial amount borrowed ie is regulated. and yes, re the excessive interest being ott.

if cred doesn't stop interest itself, then a court can, and even reverse it, via a TO.

Edited by Ford
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you miss the point, it would prob be 'thrown out' (or at the least interest frozen), before any court action, via a time order, if now't else proves successful. (again, a time order can be applied for before there is any court action)

Edited by Ford
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So

What are the options

1) Ignore and hope for the 6 year SB limit. If any action is taken defend at that time

2) Apply for a time order to repay a "reasonable" amount . However if I am correct it would be up to the judge to determine what is reasonable

3) Take the fight to Oakham and see what happens

 

At the moment are they chasing for money or is this just the amount stated on the online account

Any opinion I give is from personal experience .

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