Payday Express **

[madh21]

I too like yourself took out one of these loans at a desperate time and too rolled it over for several months. After learning what I have done from this site I emailed a request from them for a copy of the CCA. It doesnt actually stipulate a repayment schedule does it? Nor details of roll over? It is a pathetic excuse for a CCA. I challenged them on this and also stated that I had infact repaid the amount borrowed and more and informed them that if they wanted anymore I would challenge them in court. They wiped out the account within 10 days.

 

Hope this helps.

[madh21]

Good for you. Thats basically what they told me. In a professional way, I told them I didnt believe they had a leg to stand on and invited them to take me to court and whilst they were doing so I would prepare my defence in anticipation. Al my correspondence was by email.. they faxed me a copy of the agreement without cost at my request. I will try and dig out my emails, I'm sure I still have them.

[madh21]

This is probably the email that prompted action:- They had given me some waffle about precontract information being part of the agreement.

 

I note you comments. 'Pre-contract' information is not part of a credit agreement in the eyes of the law which I am sure you are well aware of. The 'credit agreement' that exisits between ourselves does NOT contain all the prescribed information as required under the Consumer Credit Act 1974 (amended 2006) and is in fact totally unenforceable. (again, which no doubt, you are fully aware of). Yes, you may hold cheques for a running account (which is nolonger operational as advised by myself) but my point is that the repayment schedule for banking these cheques should have been made explicit within the agreement, together with detailed information regarding the rollover of accounts.

Regarding the issue over the bank error, would you have planned to return this money had I not contacted you? It should be returned to the account from which you took it. ie, Lloyds TSB, the details of which you hold.

As for the outstanding balance, given the discrepancy identified from the 'credit agreement', I could argue that you have no right to add any interest or rollover fees to my account as I have not signed agreeing to this. I have been informed by my advisor that If I proceeded to court over this then It would be within my rights to pursue any money paid to you above £720 + 25% face value of the cheques (as stated in the credit agreement). which makes a total of £875. My repayments have already exceeded this total.

May I suggest that this now ends the matter and brings my balance to £0 and I will not attempt to recover any other monies paid to you.

I look forward to receiving you response.

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There were other issues aswell which are detailed in the email, ie, they took money without my authorisation and took a week to give it back! Basically, they did exactly as I asked so they know they wouldnt have won.

Hope this helps.