The Pay day Loan Company/Debt Recovery Bureau

Lolly68

I wondered if someone could give me advice please.

I took out a pay day loan with The Pay Day Loan Company of £560 with £140 interest each month (which I paid on time every month). I then got into financial difficulty and couldnt pay for one month. They were fine with this. I have since been in hospital for 3 months after an operation and obviously could not contact them or pay them anything.

I been out of hospital for 2 weeks now and have finally plucked up courage to go through my post. My ex passed me a letter that the DRB had written to his address regarding this loan and they now want £1997.64 off me for a £700 debt. Does anyone know how I can get out of paying this interest. I am about to write them an email.

Regards
Lorraine

sharpy2010

Hiya,

I honestly think you'd be better off phoning them and speaking to a real person.

You'll get an immediate response, and they won't be able to fob you off with written rubbish.

Good luck

Tixy

I would not do it by phone, with an email or letter you will have a record of what is said and what they agree to. On a phone call they can bully you or tell you complete lies about what powers they have etc.

I suspect that you will have to pay some of this interest, as it will have been written into the T&C that you signed but you may be able to negotiate some of it is waivered due to your circumstances.

Lolly68

Thank you for your responses. I have drafted them an email and I will put that I pay a proportion of their charges but not all of them. They can always take me to Court if they want to!

woody01

Lolly68 wrote: »

Thank you for your responses. I have drafted them an email and I will put that I pay a proportion of their charges but not all of them. They can always take me to Court if they want to!

How can you refuse to pay the charges when you signed up agreeing to them? You are right, they are extortionate charges, but i would bet they didn't have a gun to your head when you took the money from them.
It's not their fault you:
- were in hopsital
- didn't arrange for them to take the money when you were 'out of action'
- were mad enough to use them in the first place

Lolly68

woody01 wrote: »

How can you refuse to pay the charges when you signed up agreeing to them? You are right, they are extortionate charges, but i would bet they didn't have a gun to your head when you took the money from them.
It's not their fault you:
- were in hopsital
- didn't arrange for them to take the money when you were 'out of action'
- were mad enough to use them in the first place

Woody

Thank you for your response. I didnt once say that I oppose paying the debt back but whilst in hospital for 3 months after having a serious operation which came out of the blue I could not contact any of my creditors and not one of them (apart from PDL) have put on extortinate charges. In fact they have all been extremely helpful. I only asked as to what I could do as to paying some of these charges. I am not trying to get out of paying them at all and yes I was stupid to take out this debt of which I have learnt a lesson.

woody01

Lolly68 wrote: »

Woody

Thank you for your response. I didnt once say that I oppose paying the debt back but whilst in hospital for 3 months after having a serious operation which came out of the blue I could not contact any of my creditors and not one of them (apart from PDL) have put on extortinate charges. In fact they have all been extremely helpful. I only asked as to what I could do as to paying some of these charges. I am not trying to get out of paying them at all and yes I was stupid to take out this debt of which I have learnt a lesson.

The thing is, unless they are compassionate to your circumstance (which is probably unlikely), you will have to pay.
You cannot just refuse as it will just keep mounting up.

Lolly68

woody01 wrote: »

The thing is, unless they are compassionate to your circumstance (which is probably unlikely), you will have to pay.
You cannot just refuse as it will just keep mounting up.

I know what you are saying and thanks for your advice. This is the only bad loan I have ever taken out and wish I didnt have to. Anyways I have written to them and see what they come back with. You never know!