Payday loan company has cleared my account, what do I do?

pippitypip_2

euronorris wrote: »

OK, firstly, as there were two separate amounts taken, it's very important that you clarify whether or not that's correct. It's possible only one payment was meant to be taken, but as they kept requesting it in the days leading up to your pay pay, it's entirely possible it went through twice by mistake.

Fab advice euronorris. The only bit I wanted to mention is that this is how payday loan companies work, they usually apply for the balance in two even split payments, charged to your card.

I don't know why this is, I would hazard a guess that if you're using them, you're prob not a great bet to pay back, therefore they want to make sure they get whatever back they can. If they split it into two payments, the first one at least, has more of a chance of going through.

pippitypip

euronorris

pippitypip wrote: »

Fab advice euronorris. The only bit I wanted to mention is that this is how payday loan companies work, they usually apply for the balance in two even split payments, charged to your card.

I don't know why this is, I would hazard a guess that if you're using them, you're prob not a great bet to pay back, therefore they want to make sure they get whatever back they can. If they split it into two payments, the first one at least, has more of a chance of going through.

pippitypip

Thank you and thanks for clarifying. Never used one before so no idea about the finer details. Your guess sounds about right. In their eyes, getting 500 back is better than getting nothing.

Still worth checking though. As I understand it, they're cheeky b'ggers and not above breaking the rules if they think they won't get caught/questioned.

pippitypip_2

euronorris wrote: »

Thank you and thanks for clarifying. Never used one before so no idea about the finer details. Your guess sounds about right. In their eyes, getting 500 back is better than getting nothing.

Still worth checking though. As I understand it, they're cheeky b'ggers and not above breaking the rules if they think they won't get caught/questioned.

Yup, and you can bet they justify it by whacking on loads of fees for missed payments that would make even high interest rate credit card companies look tame! :eek:

pippitypip

Sazzle-cuz

Thank you for your help, I'm inclined to pay them a visit as they live near my parents so may get my Dad on board.... I imagine he is going to be pretty p*ssed off when I tell him the whole story, not sure if this will help tho. Your advice is really helpful Euronorris I will do as you have suggested. Work do offer an emergency loan but it does stipulate it is not for rent or mortgage arrears. Long term tho, its time ti take the bull by the horns and sort my money problems out.

woody01

iolanthe07 wrote: »

At the end of the day £1000 or so is not much. Can you ask your mum and dad or a sympathetic relative to help you out until you get yourself straight? It's only money and it's not worth losing sleep over.

It's alot of bloody money if you haven't got it.

Sazzle-cuz

I keep asking for a clealy defined statment showing charges, intrest and payments recieved but they are ignoring me, short of going there how can I get the information that I'm after? And to be honest I'm not even entirely conviced they have offices, I think its an operation ran from someones home.

fozmcfc

Sazzle-cuz wrote: »

Thank you for your help, I'm inclined to pay them a visit as they live near my parents so may get my Dad on board.... I imagine he is going to be pretty p*ssed off when I tell him the whole story, not sure if this will help tho. Your advice is really helpful Euronorris I will do as you have suggested. Work do offer an emergency loan but it does stipulate it is not for rent or mortgage arrears. Long term tho, its time ti take the bull by the horns and sort my money problems out.

Maybe he'll be annoyed at you for taking out a loan that you couldn't afford to pay back, then further foolishly failed to even pay what the payday loan company generously allowed you to.

Maybe he'll get really mad when you tell him despite this, you then took out another loan with another payday company.

Finally he might actually just go completely ballistic at you, when he then finds out that rather than accept what you have done like a responsible adult, you choose instead to try to blame everyone else.

Unfortunately I doubt he will and therefore you will no doubt continue to go through life making the same mistakes time and time again.

Premier_2

Sazzle-cuz wrote: »

...THL Direct had debited my card however the card they debited was a new card which THL had no details of. ...

As Judge Judy would say, Byrd, can you hum the theme tune from the X-files please? :cool:

If you don't believe you have given the company authorisation, as with any suspected unauthorised transaction, dispute the transaction with the card company.
They'll investigate and decide whether or not the transaction was appropriately authorised.

euronorris

Sazzle-cuz wrote: »

Thank you for your help, I'm inclined to pay them a visit as they live near my parents so may get my Dad on board.... I imagine he is going to be pretty p*ssed off when I tell him the whole story, not sure if this will help tho. Your advice is really helpful Euronorris I will do as you have suggested. Work do offer an emergency loan but it does stipulate it is not for rent or mortgage arrears. Long term tho, its time ti take the bull by the horns and sort my money problems out.

I don't think it's a good idea to take your dad, unless he's there purely for moral support. Ranting and shouting at these people won't help, in fact, it will probably just cause more problems.

And what exactly does your work define as an emergency? I would've thought that keeping a roof over your head is priorty number 1!

Head over to the DFW boards, there are some template letters there where you can ask for the information under certain regulations, give them a timescale to respond by, and if they don't you can then take it further (this usually gets a response within the time frame).

euronorris

fozmcfc wrote: »

Maybe he'll be annoyed at you for taking out a loan that you couldn't afford to pay back, then further foolishly failed to even pay what the payday loan company generously allowed you to.

Maybe he'll get really mad when you tell him despite this, you then took out another loan with another payday company.

Finally he might actually just go completely ballistic at you, when he then finds out that rather than accept what you have done like a responsible adult, you choose instead to try to blame everyone else.

Unfortunately I doubt he will and therefore you will no doubt continue to go through life making the same mistakes time and time again.

Please get down from your high horse. The air is obviously getting too thin up there!