Moneyshop?

climbintheladderouttadebt

I'm asking as I'm dealing with a friends debts as she's not coping.
She has taken numerous loans out with Moneyshop and 2-3 months ago could not afford to pay them off so closed her bank account and opened a new one!
Whilst that avoided the debt for awhile, I now have the info I need to help her deal with this, but I'm not sure how to proceed?
They have issued a default notice (although incorrectly!). They have supplied their address and phone number.
She can't pay by debit card nor does she have a cheque book. I am willing to write to Moneyshop on her behalf to negotiate a payment plan. Does anyone have any experience of dealing with them?
I'd like to include her first payment with the letter, although it is likely to be only £1 or so! Problem is it'd then have to be a postal order, costing more!
I've got no experience with this company myself so am totally unaware of what sort of agreement she had and what their practices are. Should we wait for it to go to a DCA?

Many thanks for reading this and any help received!

RAS

It might be better to sort this lady out with a basic bank account as that would enable you to make payments more easily.

climbintheladderouttadebt

Thanks for your reply RAS! Will get onto it today as it's her day off. I'll check again that that's not what she's already got. If not, she can go to the bank and apply for one this arvo! I'm assuming then she can set up a SO for £1 a month from the basic account?

RAS

There is a long list of basic accounts somewhere - and it tells you which allow SDs to be set up.

off hunting.

RAS

Info here, thanks to Tixy.

Here is a list of basic bank accounts (page 5) with details of what card they have etc - http://www.moneymadeclear.org.uk/pdfs/bank_accounts.pdf

climbintheladderouttadebt

Mosy helpful! thank you RAS and Tixy! Will call my friend this arvo (well soon now lol as its nearly 1pm!) and get her to the bank or building society sharpish!

climbintheladderouttadebt

The MoneyShop have taken £300 of what my friend owes from her account, leaving £200 for her to live on. She needs to pay car repairs, rent, phone bill etc. Plus food, travel to work... Now she doesn't dispute that she owes the MoneyShop, but can't afford the full amount and we've written already to resolve the situation. We have proof of delivery on these letters, too.

The money taken was using the old debit card details - friend had closed one acc. with Lloyds & opened a new one and advised them of fraud on the old account, hence the new one.

So the money taken, totalling £300 (£175, £100, £25), has come from a NEW account using OLD details. The amounts cannot be seen as corresponding to any debts either. ie NOT the full amounts asked for by MoneyShop so far (£325 with MoneyShop and £419 with a DCA that we know of/can remember/have had letters regarding).

The money was also taken 2 days before payday, account being empty, friend is now expecting charges! She's quite distraught over this!

Sorry it's a long tale, but I need to know a) can the MoneyShop just take this money b) can Lloyds just hand it over, despite being informed of fraud on account

Friend has been onto Lloyds and the fraud team's looking into it. She doesn't feel confident Lloyds will refund the money. Is there anything we should be doing or that can be done or does my friend have to struggle and essentially be further in debt because of this situation?

Many thanks for any advice, friend is very upset and her parents are none too pleased and I really want to help!

chuckley

moneyshop dont really do payment plans. they fight stating they need the whole whack by whatever their final date is. after that they sell it on. they will accept payments (because they know they have to), but will sell it on regardless.

climbintheladderouttadebt

But in this instance, it's MS who've taken the £300. This was unpaid from June. We've literally just got another new bank account sorted for 'A' to pay her debts from when this happened! Now she cannot pay debts or anything else!

And it was taken from a NEW account which MS had no details of....

chuckley

sorry confusion on my behalf.

thats defo between the you and the new bank.... was it a new card to the same acc or a totally new account with a new bank?! if its with the same bank then how were the amounts taken?! as D/D or card payments?! MS would have ur acc n sort code so could easily set up D/D's for the amount. Unless reported lost/stolen/fraud, banks wont issue new cards just coz u owe money.

HOWEVER, hsbc have this thing where they send u a new card a month b4 ur old one runs out and they say u can still use the old one until it runs out. i got caught by payments on my old card details even though I had a new card. once the new card ran out though the company foned me straight away sayin card was declined.

so check with lloyds on what happened...

climbintheladderouttadebt

Hi Chuckley, no worries! Thanks for the replies.

It's my best friends NEW bank account. Old one closed, card destroyed 21 May (confirmed by Lloyds but only by phone). She's in quite a state. She's mentally ill and I worry about her like she's my sister or something. Saw her last night and she'd become so withdrawn

Lloyds have said apparently they were in branch transactions! Which begs the question, how did they get her new account details? She defo did NOT give them to MS, or anyone else she owes money to! Card and/or chequebook reported as lost/stolen. My friend said her ex had the details and was worried he'd use or used them. She did it all in her local branch.

She's got to work today so is popping into the branch closest to her work. Lloyds have asked her to go into her own branch but she can't take the day off work and she can't spend half the day travelling from work to bank and back again! I'm hoping she calls later with some good news. She cannot get by on the money MS left her. Nor will she cope mentally with it all.

I gave her some info to take into the bank which I'm really hoping will help further. The only thing linking the 2 accounts, old to new, are 'A's name and the fact they are/were both with Lloyds. It's not the same account and I can't believe Lloyds have done this! Will hopefully be back with an update, and a good one, later!