GF in Debt - Pay Day Loan Rip OFF

palaran

Chargeback does not apply to debit card transactions, as debit card transactions are not covered by the CCA.

malcolmffc

You'll probably find she's out of luck. Horrible as the interest rates are, those are the terms and conditions she signed up to. A very expensive way to learn the dangers of Payday loans if you're not disciplined with yourself. Suggest you sit down with her and sort out her finances (as she is clearly spending more than she earns) to make sure this never happens again.

missyp123

my sister always used high interest loan companies like provident etc and i was always so shocked at the rates. She now saves and has a small very low interest repay loan from credit union. They ensured she COULD repay the debt and would not struggle by paying back the loan.

I know this is obviously much worse for your gf but i do agree that she needs allot of help with her budgeting.

Naf

pandamonia wrote: »

Sounds Stupid but its the truth, i think she was trying to keep her savings to one side while service her debts out of her salary.

But what happened was these payday loan things the interest ran up so quick it engulfed her into serious trouble within a few months it was thousands of pounds.

Im looking at chargebacks in the same way you chargeback a disputed credit card transaction. the card company is usually joint liable in the transaction and i believe they deceived her when they took the money off her.

Even if i only get some back its a success as we plan on DRO the money she owes to get out of this trouble

You will get nothing back from a debit card transaction unless it was fraudulent (i.e. a cloned/stolen card) - clearly this wasn't so you'll hit a brick wall.

missyp123 wrote: »

my sister always used high interest loan companies like provident etc and i was always so shocked at the rates. She now saves and has a small very low interest repay loan from credit union. They ensured she COULD repay the debt and would not struggle by paying back the loan.

I know this is obviously much worse for your gf but i do agree that she needs allot of help with her budgeting.

Credit union; great place to choose. I have used payday loans in the past (in fact, I'll be paying off my last £100 today). I always pay them off in cash, or on a CC then pay that back from my account. From now on I will be saving with the credit union, then having them loan me it back (at only 6% interest or so) and improving my credit rating again this way.