Urgent advice re letter from payday loan company

jaybee101_2

sparkle84 wrote: »

Actually a manager from one of the payday loan co took part in a phone in on Five live yesterday and said it never failed to amaze him what people were borrowing for - at least 90% of applications were for nights out, holidays and other luxuries

He would do though wouldn't he???? The point is the whole loan process is just a fallacy. Not just these extortionate loans that prey on the needy but all of them. The 'money' that is written onto your bank account has never actually been printed. All they need is the 10% or whatever the rate is at the mo. That hasn't changed since money began. It used to be illegal to make money from money alone.....there's a name for it.....um......

jaybee101_2

geoffky wrote: »

OH DEAR!!! i see some of the sums people have coming in each month and see the debt they are in and shake my head in disbelief...you all are addicted to debt and behave like spoilt little children who want it all now...get your spending down and you will be ok..we manage to live a totally debt free life on under £800pm and have never had any debts.

Its not us that want it all now, its the council and the HMRC and the gas / electric companies etc etc etc. This country has based its economy on debt for years, as have most of them. And just so we're clear the only debts i have ever had are these and thats because I havent had enough credit to rasie my rating. I wonder if you own your house. I find it hard to believe that £800pm allows for, rent/mortgage, council tax, car insurance & fuel, heating and electric, food and clothes.

DCFC79

Christ, did you really find it neccessary to drag up an old thread.

[Deleted User]

DCFC79 wrote: »

Christ, did you really find it neccessary to drag up an old thread.

Shhh, I'm trying to listen.

I think we're just about to get to the point where we establish money doesn't really exist so it can't lent, so no one owes anyone anything and we can all tell the banks that they never gave us a mortgage because everything is just a big dream.

Pass me the popcorn, will you......

DCFC79

Deleted_User wrote: »

Shhh, I'm trying to listen.

I think we're just about to get to the point where we establish money doesn't really exist so it can't lent, so no one owes anyone anything and we can all tell the banks that they never gave us a mortgage because everything is just a big dream.

Pass me the popcorn, will you......

lol ok ill pipe down, would you like a drink with the popcorn

joannaspanner

The Ocean Finance advert made me laugh, after his loan he was sitting on a sit on lawnmower even though his lawn was the size of a postage stamp!

Fiatvaluesbestowed

Deleted_User wrote: »

Shhh, I'm trying to listen.

I think we're just about to get to the point where we establish money doesn't really exist so it can't lent, so no one owes anyone anything and we can all tell the banks that they never gave us a mortgage because everything is just a big dream.

Pass me the popcorn, will you......

Jaybee is kinda right really, it's your future toil your being loaned, your mortgage or (mortal engagement) is your promise to do whatever it takes or whatever I decide you will do, for the right to a shelter, as it's not your birth right anymore, well certainly not after the enclosures act, or the clearances as In the case of Scotland, but don't panic, your kids can pick the tab up for you if your business
today is failing, cause that's how it works now, it's called futures.
Most people's wages have been loaned by their employers for decades, now most businesses can't afford the repayments, as profit is dead. So when you return home from your toil with your wage numbers in ones bank account, try to remember your paying debt with debt. 1+1= 11....duhhhh, good luck peeps!

[Deleted User]

Cool. I enjoyed that.

Let's see what else is on. Ooh - 'The Adventures of Spellkaster' is just starting on channel 5.....

Coke please, DCFC79.

pauletruth

before payday loans it was door step lenders. they used the same trick to get you to roll over the debts. i experianced them as a kid and know that they are nice and friendly wilst paying more and more money to them.
its not easy to say but its not there fault you either borrowed either to much or failed to pay it back. get positive plan to free yourself from the clutches easier said than done but its the only way. once you are clear you will know never to touch them again. use the money saved by not paying there intrest to save a small emergancy fund.
my heart goes out to you but just remember its just money and it can be saughted with time ans some restraint. if you need pay day loans often go and speak to the debt charities.

Fiatvaluesbestowed

zx81 get yr 3d specs on for this one!

Agreement to pay. Consequent to above, all 'payment demands', that could result in court actions against you, can be stopped by 'conditionally agreeing to pay the sum demanded', subject to proofs that the 4 rules were followed in the first place. (Make sure you send this letter by registered post, heading it 'Notice of Conditional Agreement' and including 'Without Prejudice' in a suitable place). In almost all cases no proofs are possible (because the rules were never followed lawfully). However, by 'agreeing to pay' you have removed all CONTROVERSY. Thus a court action, which is only there to adjudicate on CONTROVERSY, cannot take place. If you receive a Summons, you can write back (registered!) with a copy of your agreement to pay, subject to the proofs being presented. The court will consider that any further action is 'frivolous', i.e. a complete waste of its time, since there is no CONTROVERSY on which it can adjudicate. (The court may even consider whoever applied to the court to be in contempt). (See No. 16, below)

"I feel 'guilty', because I owe the money". No, you don't owe a damn thing! When taking out the loan, you were 'loaned' back what was yours in the first place. You created the 'money' when you signed the Loan or Credit Application. By doing so, YOU gave THEM a Negotiable Instrument called 'the money'. They cashed this in(*), and then used that to loan you back your own money. You don't owe a damn thing! THEY owe YOU - an apology at the very least - for applying this confidence trick on you - AND FOR CHASING YOU FOR SOMETHING YOU ALREADY GAVE THEM.

(* Actually they just could have walked away with your cash. But they didn't, because they are greedy, greedy, greedy, greedy. They knew they could get you to pay everything back, and also to pay them INTEREST on top of that. Thus they had already been paid in full ONCE when they cashed in on your money, took a risk by offering it back to you, and reckoned on being paid TWICE OR EVEN MORE via the 'interest'. Are you just beginning to feel slightly less sympathetic? If not, I don't know what else to say.