Payday Loan Company - Harassment at Work - Help!

kalifire

A company called Cash Genie are attempting to contact me, claiming that I have no right to cancel their short-term fixed sum loan agreement under the Financial Services (Distance Marketing) Regulations 2005, as they are "not regulated by the FSA" but are part of the BCCA.

They called me repeatedly at work, trying variations of my number until they got through to somebody who put them through to me. When I said they shouldn't call me on my work number, they told me that they could because I'd given them "full authorisation".

Questions:

1. I'm certain they are incorrect about cancellation - I'm perfectly entitled to cancel under the FSR (2004), which covers internet/phone agreements, whether or not they are regulated by the FSA. Right?

2. How can I withdraw this "full permission" they claim I have given them to contact me at work?

The chap who called was very agressive and tried his best to be intimidating. I rolled over to appease him but have no intention of playing ball because I'm sure he's wrong.

Help!

kalifire

I have since discovered that the Regulations I quoted are enforceable only by companies that are regulated by the FSA. Cash Genie are not. However, their agreements are bound by the CCA. They say they will not allow me to cancel the agreement until all money is repaid. Can they do this legally? My understanding was that I had 14 days within which I could cancel the agreement, and subsequent to the cancellation, the original loan amount would be payable.

Can they demand payment before agreeing to cancel this?

Can I quote OFT Debt Collection Guidelines and the Administration of Justice Act to force them not to contact me in any way other than writing?

kalifire

I note that part of their terms say:

"If you default in repaying any loan with us and as it is our lending criteria that any monies lent to you are lent on the basis that you are employed, you authorise us to contact your employer or any other relevant parties in order to secure repayment of any outstanding balance, or contact your employer or any other relevant parties to confirm any information you have supplied in your application if we believe that the information is false, misleading or inaccurate.
You consent to In Time Finance or any associated organisation disclosing any details of this agreement or use discreet actions to assist in the recovery of any outstanding balance"

Can they really contact my employer if I later ask them not to and quote OFT Debt Collection Guidelines and Administration of Justice Act?

What about data protection?

SouthCoast

you authorise us to contact your employer

What grounds do you have for rescinding the original contract and which of the OFT Debt Collection Guidelines are they breaking?

McKneff

All that being said, why have you cancelled the agreement.?

kalifire

SouthCoast wrote: »

What grounds do you have for rescinding the original contract and which of the OFT Debt Collection Guidelines are they breaking?

I don't need 'grounds' - I have a right to cancel, and I have.

Section 2.2g of the OFT DCG is the one they're breaking if I ask them not to contact me at work. The central question is: do their own terms and conditions supersede the OFT guidelines? In other words, could they turn around and say "well, you gave us permission, so we will"?

SouthCoast

My copy of the guidelines reads:

ignoring or disregarding debtors' legitimate wishes in respect of when and where to contact them, for example, shift workers who ask not to be telephoned during certain times of the day

But you gave express permission in your original contract.

kalifire

Quite. So which one stands? Their terms and conditions? Or the rules they have to abide by if I've requested they stop?

GeorgeUK

I'd give nationaldebtline a buzz to try to clear this up.

I thought that you had 14 days to cancel anything you purchased, be it goods or financial services.

Hopefully they'll be able to advise - just go through it point by point.