Trouble with a Payday Loan Provider

LadBroke

I have taken out a payday loan with PaydayExpress for 300 GBP for August 2010, to be paid back on August 30th.

I have been unable to pay that loan off in full at the end of this month, I could not even pay the interest back. Instead I suggested to them to make three payments of 20 GBP on my payday in August, September and October and pay the balance off in full at the end of November as this was the only thing I could afford (this was done over the phone & by e-mail before the loan was due for repayment on the 30th). The lady from the collections department at PaydayExpress told me that they would require proof that my circumstances have changed and a list of my outgoings and incomings. I told Mitzi that I was still in employment and that I was confident of paying the loan back at the end of November as I am guaranteed a performance bonus. She said the minimum payment they can accept was 35 GBP and that they would need that list.

A couple of days later I got an e-mail from “Payday Express” , telling me that they would try to clear my balance and take the full amount on Friday, August 30th. I called their “Collections Department” and asked what this was about. The guy I spoke with (I didn’t take a note of his name) said that I can ignore this mail; he also said that I would not be required to list my incomings and outgoings as my “re-payment plan” was not a permanent one but only a temporary measure (because I was looking to pay the whole balance off within three months). He said I could make that minimum payment of 35 GBP (not before trying to put pressure on me by telling me that they could only accept a payment of 100 GBP each month) on the day that my loan was due.

All these conversations with “Payday Express” took place before my payment had been due, before August 30th. Although I had informed them over the phone and by e-mail they kept sending me these e-mails and text messages that they would reclaim the 300 GBP from my account. This was even more bizarre as I had also informed that I had lost my VISA debit card and that I would only be able to make a cash payment into their account, even if they had attempted to go for the 300 GBP, the payment would have bounced. As they had never responded to my request to provide their bank account details I gave them a call on the 30th , to obtain their bank account details and to make a cash payment. I was then informed by an extremely impolite woman that I had no right to make that payment as they had never received my list of outgoings and incomings and as a result they had never agreed to any repayment plan.

It was like all the telephone conversations before had never taken place ! I asked her explicitly whether there would be any point in me making my possible minimum payment and she clearly told me that there wasn’t, simply because they had never agreed to such a payment plan. Of course I told her what had happened before but she was having none of it.

One week later I got a text from them saying that I should call their “Collections Department” ASAP. So I did but the conversation with Paul that I then had was even worse: He said that they don’t agree to such payment plans and because my circumstances had not changed - I am still in full-time employment and not unemployed as Paul had expected me to be - the minimum they could accept was 100 GBP per month.

To make it short: I have spoken to them on four occasions and got different information four times ! In fact, according to what Paul told me they had wasted my – and their – time for two weeks as a repayment plan was never an option anyway !

They have now informed me that my account is in arrears, so while they have frozen my interest, they still feel they are entitled to charge me for missing the payment and now ask me for 375 GBP !

What can I do now ? They are clearly not interested in resolving this matter and I do not have the funds to solve the situation !

themull1

they are entitled to charge you for the missing payment. Don't get any more payday loans. I can't see that there is much that you can do other than pay as much as possible until its clear, but they will keep adding charges because that is how they make their money.

jont80

Dont talk to them on the phone do it all by letter. So you have proof of any contact and agreements you make.

R0bert_Sterling

Sounds more like the payday loan company are having trouble with the borrower.

Dig your heels, pay as much as you can and don't take anymore loans when you know you cannot repay them.



.

PNPSUKNET

Hey not the borrowers fault. Living beyond means and upset they are asking for their money

[UK]Blitzen

LadBroke wrote: »

I have taken out a payday loan with PaydayExpress for 300 GBP for August 2010, to be paid back on August 30th.

I have been unable to pay that loan off in full at the end of this month, I could not even pay the interest back. Instead I suggested to them to make three payments of 20 GBP on my payday in August, September and October and pay the balance off in full at the end of November as this was the only thing I could afford (this was done over the phone & by e-mail before the loan was due for repayment on the 30th). The lady from the collections department at PaydayExpress told me that they would require proof that my circumstances have changed and a list of my outgoings and incomings. I told Mitzi that I was still in employment and that I was confident of paying the loan back at the end of November as I am guaranteed a performance bonus. She said the minimum payment they can accept was 35 GBP and that they would need that list.

A couple of days later I got an e-mail from “Payday Express” , telling me that they would try to clear my balance and take the full amount on Friday, August 30th. I called their “Collections Department” and asked what this was about. The guy I spoke with (I didn’t take a note of his name) said that I can ignore this mail; he also said that I would not be required to list my incomings and outgoings as my “re-payment plan” was not a permanent one but only a temporary measure (because I was looking to pay the whole balance off within three months). He said I could make that minimum payment of 35 GBP (not before trying to put pressure on me by telling me that they could only accept a payment of 100 GBP each month) on the day that my loan was due.

All these conversations with “Payday Express” took place before my payment had been due, before August 30th. Although I had informed them over the phone and by e-mail they kept sending me these e-mails and text messages that they would reclaim the 300 GBP from my account. This was even more bizarre as I had also informed that I had lost my VISA debit card and that I would only be able to make a cash payment into their account, even if they had attempted to go for the 300 GBP, the payment would have bounced. As they had never responded to my request to provide their bank account details I gave them a call on the 30th , to obtain their bank account details and to make a cash payment. I was then informed by an extremely impolite woman that I had no right to make that payment as they had never received my list of outgoings and incomings and as a result they had never agreed to any repayment plan.

It was like all the telephone conversations before had never taken place ! I asked her explicitly whether there would be any point in me making my possible minimum payment and she clearly told me that there wasn’t, simply because they had never agreed to such a payment plan. Of course I told her what had happened before but she was having none of it.

One week later I got a text from them saying that I should call their “Collections Department” ASAP. So I did but the conversation with Paul that I then had was even worse: He said that they don’t agree to such payment plans and because my circumstances had not changed - I am still in full-time employment and not unemployed as Paul had expected me to be - the minimum they could accept was 100 GBP per month.

To make it short: I have spoken to them on four occasions and got different information four times ! In fact, according to what Paul told me they had wasted my – and their – time for two weeks as a repayment plan was never an option anyway !

They have now informed me that my account is in arrears, so while they have frozen my interest, they still feel they are entitled to charge me for missing the payment and now ask me for 375 GBP !

What can I do now ? They are clearly not interested in resolving this matter and I do not have the funds to solve the situation !

Sorry to say this, but you have purposely and willfully broken the T&C's you signed up to knowing full well you would not be paying the balance as per the agreement.
They will keep adding interest and you will get further in debt.

I feel for people that have a serious and sudden change in circumstances, but you clearly haven't, tried to get around their terms, and you will now pay very heavily for your attempt.

Emmzi

best advice is to sell whatever you have, and get it cleared. laptop, jewellry, telly, whatever it takes, just get it clear.

jont80

Join a credit union and get a loan.Will save you alot of stress. Sounds like a very good option for you.

Apples2

Does the Username give an indication of what the loan was for??

michael1983l

I am sorry but I think a few of you guys are out of line here, yes the OP has been irresponsible in lending money they couldn't afford to pay back and I bet they did this out of being in a desperate situation rather than purposly trying to pull a fast one. Yet not all the onus of the blame should be on the borrower, in fact I would say the majority of the blame lies with Payday Express.

firstly they should have done credit searches and an affordability check, having done this they should never have lent the money in the first place. Irresponsible lending.

Then to make things worse, the OP has tried to let them know they can't afford to pay it back immidiately but has offered a plan to reduce the balance, not only have they not done this (they are required to offer people who cannot pay a chance to reduce the balance by terms) but they then made this worse by adding a charge to this guys account for breaking his terms.

I seriously cannot believe the apathy these misery makers get from people on here. I would put my mortgage on the majority of their customer base being lent to when they know they will struggle to pay it back, they want people to roll over the loans so they can continue to make extortionate interest charges to them.

Desperate people will take desperate measures, don't give me none of this they know what they signed upto !!!!!, the lender has more of a responsibility to check that the borrower can afford to repay than the borrower does.

Apples2

The OP is more than likely a Troll so doubtful he will be back.

If not, you have decided the OP is not responsible for his own actions. This is quite clear as you believe the blame lies with the payday loan company.

We simply cannot have people we deem not worthy of making their own decisions, voting in the same polls as the rest of us.
Why should we allow the OP a vote which is worth as much as mine or yours when we won't allow him to fill out any application forms??