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  • FIRST POST
    • darkglobe87
    • By darkglobe87 1st Jan 18, 11:55 AM
    • 5Posts
    • 0Thanks
    darkglobe87
    Dispute Default on file - Kapama / Mini Credit
    • #1
    • 1st Jan 18, 11:55 AM
    Dispute Default on file - Kapama / Mini Credit 1st Jan 18 at 11:55 AM
    Hi all.

    I know defaults and corrections are discussed in depth all over the site but I'm looking for some specific advice on a complex one.

    I had a loan back in 2013 (possibly 2012, I forget the actual original date) for £100 from a company called Mini Credit. I actually may even have not told the whole truth about income on my application, but was accepted.

    I fell into a rut and paid nothing much - if at all - off the loan. After a few months to a year the debt had risen to £1066. I started looking into disputing the rather ridiculous charges and interest, but by that point the company folded and my debt was passed on to a company called Kapama, who were not the original creditor. It's now in the hands of Opos Ltd who email me regularly to pay it. I have ignored these emails for a few years now.

    The basic question is this: is there a way for me to dispute this despite the company folding, and if so, how do I do it? It's a little while until it automatically drops off my file as the default date seems to have been updated since the original debt was built up. I'm now in a better position financially, but not good enough to even consider paying off a debt so large. I also have a bit of an issue in principle with paying such an amount relative to the original credit amount. I know it was totally my fault for being an idiotic twenty-something, but it still seems excessive. I'm looking to get a mortgage with my partner at some point soon, and she has great credit; I don't want my past irresponsibility to ruin our chances and this is the biggest black mark on my file.

    Any help on how to approach this would be great. Please bear in mind I don't have any agreements or documentation about this loan that I can access.

    Thanks again for reading.
Page 1
    • Arleen
    • By Arleen 1st Jan 18, 12:06 PM
    • 1,114 Posts
    • 841 Thanks
    Arleen
    • #2
    • 1st Jan 18, 12:06 PM
    • #2
    • 1st Jan 18, 12:06 PM
    You knew what you've signed when taking out a loan as those charges were explained to you - one way or another. The fact that you've lied on your application (in some circles that's called fraud) makes it really unwise to try to rock the boat.

    Your best course of action is to repay it and then, in a year or two, it will go away for good, not impacting mortgage applications at all. And if you plan to buy, you must have money for a downpayment, so 1k pounds should not be out of reach, but ignoring it may result in getting a CCJ against you that will add 6 more years of a tarnished file.

    So pay up and learn a lesson to never take payday loans again.
    • darkglobe87
    • By darkglobe87 1st Jan 18, 12:14 PM
    • 5 Posts
    • 0 Thanks
    darkglobe87
    • #3
    • 1st Jan 18, 12:14 PM
    • #3
    • 1st Jan 18, 12:14 PM
    Oh believe me I've not touched them since! I read somewhere that it is actually the lender's responsibility to check facts when granting loans, I think that was probably my lame justification to myself at the time.

    The partner is the one with the savings, but we are desperate to buy and need every penny of what we've scraped together for a deposit. Since her salary is over double mine, and she's putting the majority of the initial cash in, I feel it unfair to burden her with the idiocy of my past!

    Bottom line is, these charges are unfair and wouldn't be legal now, surely there's a way of disputing the original amount? I see others have had varying degrees of success with Opos and this leaves nervous. My credit rating is slowly improving all the time as I've paid off all smaller debts, just this one is ridiculous. I'm paying other debts too and am only on minimum wage.
    • Arleen
    • By Arleen 1st Jan 18, 12:20 PM
    • 1,114 Posts
    • 841 Thanks
    Arleen
    • #4
    • 1st Jan 18, 12:20 PM
    • #4
    • 1st Jan 18, 12:20 PM
    Clearly, you are still making lame justifications to yourself.

    Take responsibility, head over to debt free wannabe: http://forums.moneysavingexpert.com/forumdisplay.php?f=76 , post a SOA: http://www.stoozing.com/calculator/soa.php and finally tackle your debts responsibly. That's the bottom line here. Or you can open up another account and ask this question again, you will get the same answers: http://forums.moneysavingexpert.com/showthread.php?t=5419475
    • darkglobe87
    • By darkglobe87 1st Jan 18, 12:23 PM
    • 5 Posts
    • 0 Thanks
    darkglobe87
    • #5
    • 1st Jan 18, 12:23 PM
    • #5
    • 1st Jan 18, 12:23 PM
    Not quite sure why you linked that, you can see I posted in that after creating this thread, I found it afterwards.

    Okay, well you're not going down the same solution path as what I'm looking for but thanks for the advice nonetheless.
    • Arleen
    • By Arleen 1st Jan 18, 12:25 PM
    • 1,114 Posts
    • 841 Thanks
    Arleen
    • #6
    • 1st Jan 18, 12:25 PM
    • #6
    • 1st Jan 18, 12:25 PM
    You are looking for someone to give you a free pass and weasel out of your responsibilities, and that's not how it works. Go to DFW, post an SOA, see how it can be paid up. Or not, keep telling to yourself "ITS UNFAIR" and wake up to CCJ somewhere this year.

    BTW do you think it was fair that you lied to them about your income?
    • vinnie1208
    • By vinnie1208 8th Jan 18, 7:19 PM
    • 7 Posts
    • 0 Thanks
    vinnie1208
    • #7
    • 8th Jan 18, 7:19 PM
    • #7
    • 8th Jan 18, 7:19 PM
    Went through exact same thing a while ago.

    Send them a letter of complaint. They will most likely half the debt. If not go to the ombudsman and complain. (its easy)

    For me they reduced a 1000 debt to 130. Just trying to sort out my credit file with them now.

    Message me if you need anymore help
    • sourcrates
    • By sourcrates 8th Jan 18, 7:49 PM
    • 13,094 Posts
    • 12,396 Thanks
    sourcrates
    • #8
    • 8th Jan 18, 7:49 PM
    • #8
    • 8th Jan 18, 7:49 PM
    This is one reason why the FSA clamped down on payday lending and introduced a cap on interest and charges, although the new legislation cannot be applied retroactively, it may be worth your while writing to them telling them the accumulated interest was added unfairly to your account as it made your ability to repay the debt less likley.

    Most debt purchasers will discount when asked, or when presented with a reasonable case as to why they should do so.

    Worth a stamp.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
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