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  • FIRST POST
    • blueberry5
    • By blueberry5 18th Jun 17, 11:32 AM
    • 22Posts
    • 0Thanks
    blueberry5
    Payday Loan
    • #1
    • 18th Jun 17, 11:32 AM
    Payday Loan 18th Jun 17 at 11:32 AM
    I was wondering if anyone could tell me where I stand please?

    In 2013 I took out a payday loan, now controlled by Kapama Ltd. The loan amount was £200. I had several other payday loans at that point as I was awaiting benefits for mental health reasons and they took months to come through. I was even using a food bank at this time. When I applied I put the payment date in wrong by mistake. I didn't notice until after they had paid me the money. When I tried to change the date, they wanted the initial money back plus £35 on top to change the date. I didn't have this. So I defaulted. This within 2 months brought the debt up to £860 where it has remained.

    Do I have any rights to be able to get this amount down to closer to the amount I borrowed or do I not have a leg to stand on? I was under a psychiatrist at this point too.

    Thank you
Page 2
    • Tarambor
    • By Tarambor 19th Jun 17, 7:29 PM
    • 1,596 Posts
    • 1,098 Thanks
    Tarambor
    I don't have an issue with paying the loan or even twice the amount, but to pay £748 for a £120.50 loan is ridiculous and all because I had input the repayment date wrongly. Then the addition of charges of several hundreds, made it completely unaffordable.
    Originally posted by blueberry5
    No, it happened because you took out a loan you knew you couldn't afford, you didn't make the payment but what really racked it up is you did the sum total of sod all about it from the following month until today, choosing instead to bury your head in the sand.

    If you're wondering why you are getting the harsh responses it is because you quite clearly refuse to accept any responsibility for the situation you now find yourself in.
    Last edited by Tarambor; 19-06-2017 at 7:32 PM.
    • Fireflyaway
    • By Fireflyaway 19th Jun 17, 8:01 PM
    • 1,300 Posts
    • 1,323 Thanks
    Fireflyaway
    I'd contact them and make either an offer to settle for less than is owed if you have the cash sum or set up a repayment plan. I have done both before. They can't get more from you than you have. Explain you have a low income and propose £5 a month. Annoying but payday lenders are ruthless and don't care. Better to get them off your back and the sooner you deal with it the sooner you will be rid of them. I had 7 payday loans at one point and pleased to say I haven't touched one in 18 months now. They never solve issues only make them worse.
    • Sncjw
    • By Sncjw 19th Jun 17, 8:54 PM
    • 1,474 Posts
    • 876 Thanks
    Sncjw
    What's also fishy is all the different figures of the loan you have posted
    • blueberry5
    • By blueberry5 20th Jun 17, 1:08 AM
    • 22 Posts
    • 0 Thanks
    blueberry5



    Someone, on benefits, who no doubt convinced the company they could pay back the loan ?
    Originally posted by AndyPix
    I could have paid the loan back if I had put the date in correctly, but I got it wrong and it was a day too early. And if you are trying to start on me for developing a disability after years of working for the NHS, kindly go troll somewhere else
    • blueberry5
    • By blueberry5 20th Jun 17, 1:11 AM
    • 22 Posts
    • 0 Thanks
    blueberry5
    What's also fishy is all the different figures of the loan you have posted
    Originally posted by Sncjw
    That's because I thought it was £200, then after I went and checked historic transactions and saw it was £120.50. The repayment I referred to as £860 but if you want to nit pick it was £868 and some pennies I can't recall. I did actually specify in the thread that I had searched my bank transactions and found the payment
    Last edited by blueberry5; 20-06-2017 at 1:15 AM. Reason: Grammar
    • blueberry5
    • By blueberry5 20th Jun 17, 1:12 AM
    • 22 Posts
    • 0 Thanks
    blueberry5
    A lot of perfect people on this post clearly.
    • Catsacor
    • By Catsacor 20th Jun 17, 6:44 AM
    • 21 Posts
    • 29 Thanks
    Catsacor
    Perfect, no.
    Clued up regarding their hard earned money, yes.
    Money is too hard to come by to just sign on the dotted line (or press the 'submit' button) blithely.


    If someone needs a loan do some research on the hard facts of interest rate and terms and conditions before putting it into action
    • AndyPix
    • By AndyPix 20th Jun 17, 9:19 AM
    • 2,908 Posts
    • 1,987 Thanks
    AndyPix
    I could have paid the loan back if I had put the date in correctly, but I got it wrong and it was a day too early.
    Originally posted by blueberry5

    So you paid the full sum back 1 day late ? And the debt rose to £800 and change ?
    Or do you mean because you couldnt pay until one day later, you decided to not pay atall ..


    And if you are trying to start on me for developing a disability after years of working for the NHS, kindly go troll somewhere else
    Originally posted by blueberry5

    You are inventing accusations and then defending yourself against those accusations - how strange
    Running with scissors since 1978
    • takman
    • By takman 20th Jun 17, 10:01 AM
    • 2,825 Posts
    • 2,360 Thanks
    takman
    I could have paid the loan back if I had put the date in correctly, but I got it wrong and it was a day too early. And if you are trying to start on me for developing a disability after years of working for the NHS, kindly go troll somewhere else
    Originally posted by blueberry5
    Exactly as AndyPix said; why didn't you attempt to pay the loan one day late and arrange a repayment plan if necessary?.

    A lot of perfect people on this post clearly.
    Originally posted by blueberry5
    It's nothing to do with being perfect. You made a mistake with the wrong date so you should have attempted to pay the balance a day later when you could afford it. Instead you irngored it for four years and buried your head in the sand!.
    • blueberry5
    • By blueberry5 20th Jun 17, 1:40 PM
    • 22 Posts
    • 0 Thanks
    blueberry5
    Because a day later, the loan had already gone up beyond affordability. It wasn't a possibility. The majority of the charges for late payment had already been applied.
    • blueberry5
    • By blueberry5 20th Jun 17, 1:44 PM
    • 22 Posts
    • 0 Thanks
    blueberry5
    And for all these people criticising me about burying my head in the sand, do you actually understand mental health problems? Do you understand how it feels to wake up and not give a damn if you don't make it through the day or to feel that your kids were better off if you were dead, or to be so manic that you don't even care what the hell you do? If you want to sit there and criticise me, do one. I have no time for keyboard warriors. I asked if when the charges were deemed not to be fit for purpose, if I could possibly get them down slightly. Instead, all I get is people telling me, that I shouldn't have applied for it and should have done something sooner. Do you think I don't know that? It is why my daughter takes care of my finances now. It is part of my condition.
    • blueberry5
    • By blueberry5 20th Jun 17, 1:46 PM
    • 22 Posts
    • 0 Thanks
    blueberry5
    And YES I have every intention of paying off this debt. This is the most negative forum ever, yet it is supposed to be there to help people asking for advice. I didn't ask for your judgement, I asked if there was anything I could do, to reduce the figure.
    • takman
    • By takman 20th Jun 17, 1:47 PM
    • 2,825 Posts
    • 2,360 Thanks
    takman
    Because a day later, the loan had already gone up beyond affordability. It wasn't a possibility. The majority of the charges for late payment had already been applied.
    Originally posted by blueberry5
    So when you rang up on the day you had the money to pay and said "I would like to pay £xxx towards the loan as that is what i can afford and then £xx per week/month until it is payed off". What did they say?. I can guarantee they wouldn't have refused to accept money from you, even if it wasn't the full amount.

    Everyone makes mistakes but you should have accepted that it was your fault and talked to them to arranged paying them back at a rate you could have afforded.

    Just think if you had done this 4 years ago then it would have been payed off by now and you wouldn't have had the stress of them emailing you and calling you to ask for payment.
    • IAmWales
    • By IAmWales 20th Jun 17, 1:49 PM
    • 1,680 Posts
    • 3,465 Thanks
    IAmWales
    And YES I have every intention of paying off this debt. This is the most negative forum ever, yet it is supposed to be there to help people asking for advice. I didn't ask for your judgement, I asked if there was anything I could do, to reduce the figure.
    Originally posted by blueberry5
    Then get on the phone and see what agreement can be reached for a payment plan!

    (And yes, I have a twenty year history of mental health conditions. It doesn't mean I can use it as an excuse for poor money management.)
    • AndyPix
    • By AndyPix 20th Jun 17, 2:01 PM
    • 2,908 Posts
    • 1,987 Thanks
    AndyPix
    Do you understand how it feels to wake up and not give a damn if you don't make it through the day or to feel that your kids were better off if you were dead, or to be so manic that you don't even care what the hell you do?
    .
    Originally posted by blueberry5
    No - It must be aweful - But that's not what you were asking about


    I asked if when the charges were deemed not to be fit for purpose, if I could possibly get them down slightly..
    Originally posted by blueberry5
    You will have agreed to these charges when you signed the loan agreement


    It is part of my condition.
    Originally posted by blueberry5
    I hope you feel better as possible soon
    Rather than worrying about this - perhaps let your daughter handle things and concentrate on feeling better
    Running with scissors since 1978
    • fwor
    • By fwor 20th Jun 17, 4:05 PM
    • 5,885 Posts
    • 3,927 Thanks
    fwor
    I asked if there was anything I could do, to reduce the figure.
    Originally posted by blueberry5
    Speak to Citizens Advice, and ask them what conclusions were reached from this:

    https://www.citizensadvice.org.uk/about-us/how-citizens-advice-works/media/press-releases/citizens-advice-reported-payday-lender-toothfairy-finance-to-oft/


    If the OFT and/or FCA made a ruling on it, that may give you a way to approach the current owner of the debt and request a reduction in the amount owed.
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