Payday Express

Clive_Woody

ampafc wrote: »

They are getting back more than double what they originally would have got - so they are doing VERY well from me. Thanks for your input though.

But less than you agreed to pay back and much later than when you agreed to pay it back by.

KingElvis

Clive_Woody wrote: »

But less than you agreed to pay back and much later than when you agreed to pay it back by.

I'm constantly amazed at how many people miss this point, and I don't mean slightly miss it but miss it jumbotron size.

I would also say any bad info on your credit history from a payday lender (good info from them is bad enough) means it's endgame for your credit chances until 2020 or there abouts

ampafc

Clive_Woody wrote: »

But less than you agreed to pay back and much later than when you agreed to pay it back by.

Nope - significantly MORE than I agreed to pay back. It's imporatnt to straighten out the facts.

Much later - no. Slightly later (two months) - yes.

Thanks anyway.

CHR15

ampafc wrote: »

It's imporatnt to straighten out the facts.

Well lets be clear then.

The money should have been dumped back into their coffers with no additional effort by anyone, it should have simply been deposited into their account.

They are paying the wages of someone to sit and answer the phone, open, read and respond to letters and emails. They aren't going to work for nothing so the failure to repay has cost the company additional money in employing people to deal with bad borrowers.

Everybody repays more than they borrowed, even reliable borrowers at decent interest rates.

It really isn't a GOOD thing to enter a payment plan, certainly not appealing to a lender who stuck to their side of the contract.

They didn't do anything wrong. All they did was give someone a break when all the other lenders said "take a run and jump, you won't repay us".

ampafc

I guess if you don't know the reasons for someone struggling to pay the money back, then it's kinda pointless you commenting. Thanks anyway.

People have to enter into payment plans for reasons outwith theri control, you know.

CHR15

By borrowing more money than can possibly be repaid normally.

No-one is having a personal dig amp but the contract is literally black and white.

As you have failed to repay all you can do is appeal to their better nature and accept a payment plan, they are not obliged to accept it (although many companies do, especially those with a reputation to uphold).

They are perfectly entitled to reject the request, default you (trashing your credit file further), AND apply for a CCJ (trashing your file even further).

Of course you can only repay what you can afford to but many people put Sky,BB etc, essentially the same standard of living they have been enjoying as priority debts.

The Courts help both parties by deciding what will be repaid so the lender ends up getting drip fed a few quid a month whilst the defaulted borrower ends up excluded from ANY further borrowing.

Clive_Woody

ampafc wrote: »

Nope - significantly MORE than I agreed to pay back. It's imporatnt to straighten out the facts.

Much later - no. Slightly later (two months) - yes.

Thanks anyway.

Fact 1: The two are connected.

Fact 2: If you don't pay them back on the agreed date then you can hardly expect them just to sit back and wait and see when you get around to paying without the price going up.

ampafc

Clive_Woody wrote: »

Fact 1: The two are connected.

Fact 2: If you don't pay them back on the agreed date then you can hardly expect them just to sit back and wait and see when you get around to paying without the price going up.

The price has already gone up. Two further month's interest. I have contacted them many times to try and agree a settlement which makes them a huge % profit on the small loan I took out. So neither side is sitting back and waiting, well apart from them refusing to acknowledge my e-mails.

Anyway, this was someone else's threas which i have kind of hijacked, so I'll bow out.