Tooth Fairy Finance Advice

iluvmarmite

I dont know if you are talking about credit cards or debit cards, a cancelled CREDIT card will remain open for around a month just in case there are any pending transactions, a cancelled DEBIT card will be dead straight away, the CV number and the start and finish dates will change on a new card. If you report your DEBIT card lost to the bank most will tell you to get in touch with anyone you have given the long number to to tell them you have a new card and you need to change the payment details due to the old card no longer being in use.

If you have reported the card lost then anyone could have picked it up and used the details thats why they will not pay out any money asked for from the old card.

WellKnownSid

As I have explained, the CV2 and expiry are not needed to repeat a drawdown from a previously authorised CA because the transaction is already classed as trusted against that particular merchant ID.

Anyone picking the "lost" card up wouldn't be able to use it... but the company holding the CA doesn't have to either!

iluvmarmite

Well all I can say is I must have a very good bank because when I 'lost' my debit card and they sent me a new one they refused to authorise payments on the old card due to the fact that it no longer exsited.

Jen30

Thank you for all of you responses, will have to see what happens on that.

I am actually thinking about closing my bank account and opening a new one at the Co-Op. I was thinking of doing this regardless for ethical reasons.

Would they be able to try and claim money from an Account that is closed????

I will keep you all posted with how things pan out with this anyway

Apples2

Jen30 wrote: »

I am actually thinking about closing my bank account and opening a new one at the Co-Op. I was thinking of doing this regardless for ethical reasons.

Would they be able to try and claim money from an Account that is closed????

I will keep you all posted with how things pan out with this anyway

The Red bit is simply bizzarre, for ethical reasons do you mean these nasty people who lent you money are demanding it back??

anyway, that's another story. No they can't take money from a closed account so if you move lock stock, the ** lot to another account they cannot take any money from you.

No such thing as a free lunch in this World though, your debt currently stands at £xx today. Once you shift everything and stop them taking what is theirs, your debt will be £xxxxx tomorrow.
They will throw charges on top and add more interest as well, your debt will rocket in just a few days.

They will not simply think, "Well where did Jen go? oh well, we'd better close this account now and forget about it".

You can run but you can't hide, they WILL find you later on.

They will cripple you in the long run.

Jen30

No I meant because I currently bank with one of the high street banks that was bailed out and are still paying bonuses etc. I was thinking of moving to a more ethical bank such as the Co-op.

And just to clarify, Tooth Fairy have not actually lent me a single penny. I have proof in the form of my bank statements that they have not paid me anything.

My debt currently stands at £0 with Tooth Fairy, I know enough about the law to know that if this went to court it would go in my favour. I am also in the process of appointing a solicitor to act on my behalf so I don't think I need to worry to much about.

iluvmarmite

I dont think you have a single thing to worry about Jen, you have not had any money off them so dont owe them any, if I were in your position I would sting them for a lot more than a payday loan for compensation. I think some should read a post properly before making sarcastic comments

fozmcfc

I find it strange how you can afford a solicitor but needed a payday loan.

Anyway hoping you get whatever result you deserve.

Be interested to hear the outcome of it all.

Jen30

I recently returned to the UK after living abroad for a year so have only just started working again. I am in a fairly well paid job and get bonuses dependant on performance, I am due quite a decent bonuses in at the end of this month and also the end of next. I have better things to spend my money on than solicitor fee's but at the same time there is no way I am going to let some dodgy loan company screw me around.

I only took out the loan as a stop gap and knew that I would not have had a problem paying it back on time. The crazy thing is that if they actually paid me it I would have paid them back and they could have made their interest. But because they havent it has sort of left me with no choice but to go down the legal route.

In fact if anybody reading this is having similar problems with Tooth Fairy please PM me and perhaps we could take joint action.

Jen30

UPDATE - for those who have been following this thread.

Tooth Fairy have backed down and have cancelled the loan, I do not owe them a penny. I think this was down to persistence and the threat of legal action.

Thank you for those of you who have given me your advice in this thread, much appreciated.

To anybody who is thinking of taking a loan out with Tooth Fairy Finance - DONT. They are complete criminals, the customer service is a joke, nobody knows what they are doing or seems to have any authority. Worse company I have ever had dealings with in my life by a country life. Shame on the OFT for allowing them to trade.

If anybody is having problems with Tooth Fairy and actually owe's them money I really feel for you. Stand firm and be persistent, contact the OFT, Trading Standard, Financial Services Ombudsman, CAB.

Lesson learnt in that I will be more careful who I deal with in the future.