Minicredit help! £80 loan, 28 days late = £381!

blacksta

This is surely drinking from devil's cup. Taking a loan of £100 is absolute ridiculous , your family should be your first port of call unless you have not abused that trust.

Peelerfart

blackstra wrote: »

This is surely drinking from devil's cup.

Well I can sure think of better cups to drink from

skintandscared_2

Look, I think we're all agreed that loans from these types of organisations are complete madness (OP now included) but the point now is are these charges actually legal?? They are absolutely ridiculous. Borrowing money is fine, lots of people do it, but should a person reasonably expect these kinds of charges?? I think not...

ali_ninja

I had the exact same problem with the £100 loan, ended up paying back £313 all together! And I was LITERALLY in the same exact position.
I paid it off today with a credit card that has an interest free period on it, and i am paying the credit card back and canceling the credit card after its paid back. Cause that was the only solution I could think of quickly enough

CHR15

Your credit card has just got you out of a pickle.
what are you going to do next time something unexpected occurs if you have cancelled the card?

Why not just clear the balance, then throw it in a drawer for emergencies only?

mynameisclare

fozmcfc wrote: »

Not even a mention of the £20 they charge in the first place off the £100.

Their APR representative example mentions a "transfer and administrative fee £19.50", though there is a curious lack of a proper T&C page.

Those customer quotes are very dodgy. Surely it's illegal to have false testimonials? Not sure how you could prove it though.

Xbigman

So does your bank statement show 47 failed debit attempts? Or does your bank have a record of them?

If you could prove those 47 attempts were never made you could get that bit back at least.




X

ssswww

Xbigman wrote: »

So does your bank statement show 47 failed debit attempts? Or does your bank have a record of them?

If you could prove those 47 attempts were never made you could get that bit back at least.




X

No but as they were charging my card they generally wouldn't show, but I will try to get in touch with the bank to see if they have a record of them, thanks for the tip as I wouldn't have thought of that

ssswww

Sent a letter first class on Friday and no response as of yet.
I know it's not been that long but I also wrote to Santander and Natwest on Friday about completely different issues and have had a response from both of them.

ExNicotineQueen

ssswww wrote: »

Sent a letter first class on Friday and no response as of yet.
I know it's not been that long but I also wrote to Santander and Natwest on Friday about completely different issues and have had a response from both of them.

Did you send the letters by recorded delivery?