payday loan debt help

reason2

I already know it was a stupid idea but its happened.

A change of circumstances leaves me with not much disposable to pay back.. im talking a cpl of quid a week.

Now this company in the space of 24 hours has added over £300 in charges to a balance ~(initially £400 - currently according to them £1078) so i disputed it.

However they keep sending emails like the one below..mainly demanding more than i can afford (they say minimum is £150 a month but this email says £72!) more importantly saying they will send people to my address to take goods 9 times the value)

anyway i have moved they dont have my new address and i dont have possessions all ebcause of my change in circumstances.

What can i do!!! they seem to ignore whatever i say and respond with threats.

This is a reminder that you committed to pay back your ToothFairy Pay Day Loan debt.

This debt is now very overdue. We have allowed you to extend the loan as a goodwill gesture.

As part of settling this debt you are committed to paying GBP 72 by 26.07.2011.

In accordance wih the Standard Terms and Conditions you agreed to, we will be automatically taking payment tomorrow as agreed. Please ensure the amount of GBP 72 is available by midnight tonight.

If there are insufficient funds in the account the payment might fail and all charges will IMMEDIATELY become due, ALL back dated interest, penalty fees will be charged.
Recovery Agents will be sent to all addresses we have on file for you in order to obtain payment. Should this also prove unsuccessful we will be liaising with solicitors who will obtain a County Court Judgement against you. Once this is secured we will return with a Warrant of Execution from the County Court and certified Court Bailiffs to seize goods at 9 times the value of what you owe.

IT IS ESSENTIAL you HONOUR this agreement


You currently owe £1058.
Depending on the amount you offer and the frequency of payments we would be willing to REDUCE the amount you owe.
Please confirm by return, how much you will be paying on a monthly/weekly basis, the minimum we will accept is £150 per month,
Failure to come to an agreement with us will lead to ground recovery agents being dispatched to all addresses on file and proceedings will commence against you in your local county court.

Tixy

You say they are ignoring whatever you say - what have you done so far? have you written to them (recorded deliv is best) to set out how much you can afford to pay a month and started making those payments? If not then I would do that as a starting point so at least if it does go to court you can prove you have been paying what you can afford.

The danger of them not having your address is that if they do start court proceedings you will not receive the court papers to be able to complete and return then with an offer or payment.

Have you closed down the account that they have the bank details of and moved your income etc to a new bank account?

There is also a letter you can send to say you revoke their right to visit your property - http://forums.moneysavingexpert.com/showpost.php?p=23635529&postcount=59 You might want to send this along with your new address details in case they do try taking you to court. Again you would need to send it recorded so you can prove you have told them your new address and so the court papers must be sent to this address.

reason2

they dont provide an email address or postal address alle mails are returned with please go to our website and use the contact form.

i believe they have breached several guildlines of the OFTS manual for debt colelctors too.

Tixy

Is it still toothfairy who are emailing you rather than a debt collection agency?

If so I would write to the address on the bottom of their website.
Never any point in trying to discuss things over the phone with them.

reason2

they have said if they deem it too low they will go straight to court for a bailiff warrant... as below


You need to start making payments as a matter of urgency.
It is quite simple. The more you pay and the more quickly you make payments the more we will be able to drop the fees that have been added to your file.
You currently owe including all fees 708.
This will CONTINUE TO RISE as it goes to your Local County Court via Philips Bailiffs.
We would prefer to come to an amicable arrangement so we suggest that you INFORM US TODAY OF THE AMOUNT you will be able to pay and when.
Any payment offer which is too low will simply lead us to go automatically to Courts to secure repayment of the debt. We will apply for a Warrant to seize goods or an attachment of earnings/benefits. WARNING: This judgement will affect your permanent credit file shared by all lenders affecting your ability to borrow in the future.
Remember, the more you pay and the quickly you pay it the less work we need to do in monitoring your file and therefore the more we can reduce fees added.
Act now and we will be able to stop your credit file suffering any further.
If we DO NOT HEAR from you today then we will have no option but to take this through your local County Court. We will seek a Warrant of Execution to instruct Bailiffs to seize goods and seek an attachment of your earnings/benefits. You will be liable for full fees and further Court and Bailiff costs.
Act quickly to avoid extra costs.
Yours sincerely,
DEBT MANAGER – Martine Collins (46)
NORTHERN DEBT RECOVERY

RAS

Hi

if they go to court, then you need to defend the case, on the grounds that the money they are demanding is more than you owe, BUT you need to wiose up pretty fast on the charges they are alowed to make under their terms and conditions (you do have a copy?)

When it goes to court, you ask for it to be held near your home, not Northampton. You then ask for the repaymetns to be set at a level you can afford. They will try for a redetermination and a forthwith judgement. You need to show you have paid on time every time.

And by the away unless they send it to High Court bailiffs, you just refuse to let them in. Simples.

reason2

they refuse to provide a postal address on the website over the phone or by email.

they have no emails and wont discuss account on the phone, you can only send info by an online contact form (which doesnt attach them to your account)

RAS

They must provide a company number on their web-site and letters.

Tixy

There is a postal address on an orange bar at the bottom of every page of their website - can you check if that is the same site/company you are talking about (I don't want to post a link from here for obvious reasons). That same address is also the legal registered address for the company CIM Technologies Limited, which is the legal name of the company (you can find that info under the website FAQs).

You can write to that address, you need to start taking some action that you can prove to a court - ie written letters sent recorded.

reason2

ive re checked the website and there is no orange bar or address..

only allow webform contact still.

they have said if i dont offer at least £150 they will fast track to a bailiff to colelct goods 9 times the value, im sure this breaches an oft guidline

Tixy

Is it tooth fairy finance .com that you used/website that you are looking at?

Yes they are breaking OFT guidelines but that won't stop them taking the debt to court if they decide to.