Toothfairy Finance

michael1983l

This company is in so many violations of law it is unbelievable. They won't be around much longer as they are being investigated by the OFT and FSA. My advice to all that have to deal with these is to insist on written communication ONLY and tell them that ALL other forms of communication will be ignored. They willl try telling you that they are a paperless office, tell them they better buy some paper then. They will not send anybody round to your house and if they do ask them to leave your property immidiatly, if they dont call the police. They will never take anybody to court because they are illigal practicers, the former owner of TFF is currently having a legal battle with the sharks that stole his business. Don't pay these fraudsters a penny.

This blog is good to find out what these guys are like

http://tacklingthetoothfairy.wordpress.com/

lil_chicken_legs

Im going to have issues with toothfairy in the next few days and Im genuinely terrified.

Basically I have been using toothfairy since december, getting a £400 loan every month, paying it back in time, then immediately getting another. This was stupid but I have been in dire straits financially and trying to get it all back on track, but this month I simply cannot afford the lump sum to pay it back. Its due on the 16th (6 weeks will have passed, I got an email saying it had automatically rolled over aqfter 4 weeks) but Im just scared and dont know what to do.

One of my issues is I have moved house twice since i started getting the loans, the first address is my parents address, the second somewhere i lived for a few months before moving to my present location. I changed my address the first time I moved, but knowing I wasn't going to be able to pay it back I havent informed them I have moved again. Im terrified they will send ground agents to my parents address, my mum is a bit naive and would probably let them in not knowing anything about it.

I dont really want them to know my current address as I am someones lodger and he has no idea about my financial state...so Im just so panicked and anxious, not sure what do do...can anyone help me?

michael1983l

lil_chicken_legs wrote: »

Im going to have issues with toothfairy in the next few days and Im genuinely terrified.

Basically I have been using toothfairy since december, getting a £400 loan every month, paying it back in time, then immediately getting another. This was stupid but I have been in dire straits financially and trying to get it all back on track, but this month I simply cannot afford the lump sum to pay it back. Its due on the 16th (6 weeks will have passed, I got an email saying it had automatically rolled over aqfter 4 weeks) but Im just scared and dont know what to do.

One of my issues is I have moved house twice since i started getting the loans, the first address is my parents address, the second somewhere i lived for a few months before moving to my present location. I changed my address the first time I moved, but knowing I wasn't going to be able to pay it back I havent informed them I have moved again. Im terrified they will send ground agents to my parents address, my mum is a bit naive and would probably let them in not knowing anything about it.

I dont really want them to know my current address as I am someones lodger and he has no idea about my financial state...so Im just so panicked and anxious, not sure what do do...can anyone help me?

Do not worry, it will not go that far. Sending "ground agents" is illigal so if they do get your parents to record them with a phone camera or video camera and ask them who they are and what they want. Then report them to the police for intimidation. They cannot ask you to pay back any more than you can afford and do not pay them back a penny until they have sent you a full agreement on a payment plan, they will try not to do this so they can keep charging you. ONLY pay back the initial loan plus interest and INSIST on all communications to be by WRITTEN MAIL. If you speak to them on the phone or via email they will try to bully you. If they try to charge you extortionate interest and charges ask them to send you a full breakdown of those charges. If they do that then they will not be taking you to court because the judge will shut them down.

They are nothing short of loan sharks, do not worry nobody will be visiting your house.

lil_chicken_legs

Thanks for the reply, but I still have the problem of them not knowing my address - I cannot prewarn my parents as they have no idea about my debts and they just wouldn't understand..I know you say they will not visit any addresses, but this company is so corrupt I feel like out of all payday companies they actually would send someone round.

If I write to them Ill have to divulge my new address..which Im just uncomfortable about doing as I am just a lodger here and the owner knows nothing about my debts etc..I feel trapped and don't know what to do.

I cant even email toothfairy as they send an instant automated response to fill in the form on their website which just sends an auto response, they dont actually seem to read any emails.

Help!!

Apples2

lil_chicken_legs wrote: »

I cant even email toothfairy as they send an instant automated response to fill in the form on their website which just sends an auto response, they dont actually seem to read any emails.

Help!!

You're simply burying your head in the sand hoping this will all go away....it won't.
You're going to have to grow a pair and man up to the position you are in and deal with it.

You openly admit you owe this money but you cannot afford to repay it. That is no big deal, it happens to thousands of people every day.

Work out what you CAN afford to repay (without taking the mick!)

Either call them to discuss it or print and post a recorded letter to them with your offer.
They won't accept it, they never do but YOU have to push for a solution. They will simply keep threatening all sorts to get the money back you owe them.

Hiding your address is a bit silly, it is demonstrating your reluctance to repay anything to them.

Call the CCCS and get their help, they will deal with them on your behalf.

The sooner you start dealing with this, the sooner it will be over.

michael1983l

lil_chicken_legs wrote: »

Thanks for the reply, but I still have the problem of them not knowing my address - I cannot prewarn my parents as they have no idea about my debts and they just wouldn't understand..I know you say they will not visit any addresses, but this company is so corrupt I feel like out of all payday companies they actually would send someone round.

If I write to them Ill have to divulge my new address..which Im just uncomfortable about doing as I am just a lodger here and the owner knows nothing about my debts etc..I feel trapped and don't know what to do.

I cant even email toothfairy as they send an instant automated response to fill in the form on their website which just sends an auto response, they dont actually seem to read any emails.

Help!!

I feel for your situation but ignoreing the situation completly will only make things worse. First off it will give TFF more ammunition to levy charges and when crunch comes to crunch and they eventually catch up with you the court will want to know why you didn't give them your current address (witholding this may be illigal but better check that).

You have to do one of two things here, either come clean to your parents and give them your current address. Anything else will only make things worse for you.

You are protected by the law quite well and regardless of how they threaten you they just will not follow through, it is all scare tactics to get you to pay up.

Good luck x

lil_chicken_legs

Im just worried about ringing them as they are quite verbally abusive and threatening..I suffer from terrible anxiety and panic attacks and become a distressed state on the phone. Thanks for all of your advice its really helpful

Apples2

lil_chicken_legs wrote: »

Im just worried about ringing them as they are quite verbally abusive and threatening..I suffer from terrible anxiety and panic attacks and become a distressed state on the phone. Thanks for all of your advice its really helpful

Well that answers that question then.... write to them....now!

Once you start coming to terms with it and dealing with it, the stress levels will reduce.

Good luck

michael1983l

lil_chicken_legs wrote: »

Im just worried about ringing them as they are quite verbally abusive and threatening..I suffer from terrible anxiety and panic attacks and become a distressed state on the phone. Thanks for all of your advice its really helpful

Don't ever ring them as they can tell you anything they want and you have no come back to it. Write to them and insist on written communication only. You will never talk to a person and they will never visit your house. What they are doing is against the FSA regulations set in place so they will never take it to court otherwise they will have to explain to a judge how they can charge those fee's.

Don't worry about this, send them a letter saying that you can afford £xx.xx a month and you will pay it by direct deposit to their bank account. Explain that you will pay only the original loan plus original interest agreed in total and this will be over x amount of months with the final payment due to settle the account in full on xx/xx/2011

lil_chicken_legs

Ok sounds good, so in all the cases on these forums, has anyone really never received a home visit? That makes me feel better

Judging by all of the other threads Ive read on toothfairy, when I write to them, they will ignore it (noone really knows what their real address is) and continue bombarding me with calls.

Also, just to add, the reason I am very scared of these so called 'ground agents' is I wouldnt really blame Toothfairy for not believing that I have changed address again..they may see it as a way of evading them. So they may want to 'check' if I really do live here, and thats what is worrying to me.