Validity of my Payday UK Loan

PNPSUKNET

easy if you think its invalid let them take you to court, although Im afraid its not.

Hax

CallyJo24 wrote: »

Because of the situation I didn't pay as much attention to the agreement as I should have.

The situation is irrelevant - you agreed to it and can only hold yourself accountable.

CallyJo24 wrote: »

The email that had the agreement attached was sent on the 30th October and it stated the I was now bound by the T&C's and the loan was for a duration of 25 days (24/11/2010 ? )

The email at the start of the thread is dated 31st October and states that the money is still to be deposited. Surely, the 25 days commences from when you receive the money? Otherwise, you would be here grumbling about how you've been charged interest prior to receiving the money.

It's all academic anyway as the repayment date and total amount payable is clear as anything and is, if anything, after you expected it to be. Collecting payment early is a problem - collecting it late isn't. If you didn't agree to the terms and conditions then you should have cancelled the loan and paid back the money immediately.

CallyJo24 wrote: »

So, since then I have been trying to sort it out as the money was in the bank on the 31st Dec... as per the contractual terms I had chosen at sign up.

On the 14 Jan 2011 Payday Uk accessed my bank account without notification and made two withdrawals £281.25 and £70.31, which basically left me OD.

What happened to the money that was in your account on the 31st December? You say it was there ready for them to take. Why would you be left overdrawn if you have the money there waiting for them?

Or, did you think that as they hadn't collected it on the specific day you expected, you were now able to go and fritter that money and not have to worry about paying them back?

CallyJo24 wrote: »

Im not an expert so I was just asking a question because I do not think PayDay Uk have followed correct procedures

I think you'll find that the terms and conditions you agreed to allows for them to make multiple attempts to collect the money from your account. Without being privy to the extensions that you agreed to I couldn't say for sure - but I would suspect that there are good reasons why they were trying to take money out of your account in the middle of December. As a previous poster has said, even when you extend, you still have to pay the interest and charges incurred up to that point.

End of the day, you borrowed the money and have to pay it back - I think you'd struggle to convince anyone to think anything different!

Just look at this as an experience to learn from - an expensive one - not only financially but I suspect that your credit records have taken a bit of a battering over this too!