Payday loan struggle

weelini22

Hi all,

I'm Lynne, I'm brand new at posting to this forum, but have used lots of advice from it in the past few months to
Sort out my payday loan nightmare. I got new bank account, an emailed my lenders last week with my financial situation offerig a repayment plan of £30 per month with review in 6 months time.

I have a total of 6 loans (daft I know) and so far wonga and 1 month loan have been fantastic and accepted my repayment offer straight away. However I have not heard from payday express, except text msg today as their payment has been declined! But no reply
To my emails. Nothing from QQ or the loan store either. I will email them again as well as send a letter recorded delivery also.

My problem is with cash genie, they have anger me so much this morning. I hadn't heard from them until today (default day) they then emailed me -from a supposed senior accounts manager - the following email:
Dear member,
*
I am one of the senior account Managers here at Cash Genie and thought I would email you to inform you that your due payment today has in fact declined this morning.
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This could be for a number of reasons which could include payment attempted too early, a new card being issued, a change in repayment date, to name just a few.
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Unfortunately, without contact today, either by calling 0800 046 8121 or directly to my email, late fees will start from tomorrow. This is something I wish to avoid so please do call or email me directly today to discuss your account and I will do my best to make sure any late fees are prevented.
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By contacting me, you will find that I am understanding and I am sure we can resolve any issues together.
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If you have simply had a new card issued, then simply supply me the following information and I will update our records.
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Card type:
Long card number:
Start date:
Expiry date:
Issue number (if applicable):
CV2 number (last 3 digits on the reverse of the card):
Name as it appears on the card:
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Please also confirm if you wish to roll the account over or pay the full amount.
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I will be in the office today until 5:30 PM but can answer any emails upon my return if I am not in the office, so please do take this opportunity to keep your account on track or discuss any problems you may have.
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I look forward to hearing from you today and continuing our existing relationship
*
*

Kindest Regards

Barry*Sillence
Collections Manager

I was silly enough to answer this so when they called me I answered expecting a pleasant conversation and negotiation of a repayment plan. I got the most unpleasant rude man called matt who was just pushing me as to why I had taken the loan knowing I couldn't repay, and also where I had got the info of repaying my balance plus one month interest. I explained I had researched and he said 'oh those forums, well that's rubbish'. He was sarcastic and rude and I eventually just hung up as I was shaking like a leaf. He tried to call back which I ignored then got a txt message from them explaining I would have to spk to them to arrange repayment. Not a chance.

I have emailed them explaining that I would not speak to them on the phone again due to their conduct an to contact me in writing only. Not heard anything else.

Have I dealt with this ok, or does anyboy have further advice on what to do next!

Sorry for the long post, I'm just a tad stressed and upset now, suppose I just need to stay strong

Lynne

FireWyrm

Tell them (in writing) that they can play ball or go without. You have other creditors who have been nothing but professional and understanding and if this bunch of shysters can't be polite then they can go to the back of the queue....their choice. Make it clear that pressuring you will get them exactly nowhere and in fact is not in their interests since you will be more inclined to work with a company that is reasonable in their business dealings.

Tell it like it is. They are going to default you anyway, you have nothing to lose, so might as well be hung for a sheep as a lamb. At the end of the day, they can accept your token payment, or nothing at all...it makes no never mind to you.

FullTimeBadMan

FireWyrm wrote: »

Tell them (in writing) that they can play ball or go without. You have other creditors who have been nothing but professional and understanding and if this bunch of shysters can't be polite then they can go to the back of the queue....their choice. Make it clear that pressuring you will get them exactly nowhere and in fact is not in their interests since you will be more inclined to work with a company that is reasonable in their business dealings.

Tell it like it is. They are going to default you anyway, you have nothing to lose, so might as well be hung for a sheep as a lamb. At the end of the day, they can accept your token payment, or nothing at all...it makes no never mind to you.

It's exactly this sort of thinking that forces Payday loan companies to be so unforgiving- the flippancy, the arrogance, the sheer hostility. "You're not doing things my way so I'm not talking to you any more." Embarrassing. I honestly feel sorry for the collection agencies at these companies if their bread-and-butter has this sort of attitude.

That aside, the advice here is actually decent. Put your request into writing but at least be polite and humble about it- at the end of the day, these people have put their trust and capital into you and you have failed to live up to your half. Being flippant is just unnecessary. Good luck.

weelini22

Full time bad man i understand what you are saying,but things happen and I contacted this company
In plenty of time prior to defaulting to arrange something! My problem was with theirdeception in sending me
Such a friendly supportive email then when they get me on the
Phone talk to me like crap and using bully tactics. There is no need to intimidate and bulle
People, ever!

weelini22

Oh and they acceptedy initial repayment plan through email,
Confirmed balance owed and dates to repay! So overall
A success :-)

FireWyrm

FullTimeBadMan wrote: »

It's exactly this sort of thinking that forces Payday loan companies to be so unforgiving- the flippancy, the arrogance, the sheer hostility. "You're not doing things my way so I'm not talking to you any more." Embarrassing. I honestly feel sorry for the collection agencies at these companies if their bread-and-butter has this sort of attitude.

That aside, the advice here is actually decent. Put your request into writing but at least be polite and humble about it- at the end of the day, these people have put their trust and capital into you and you have failed to live up to your half. Being flippant is just unnecessary. Good luck.

I feel I really have to address these comments. PDLS are not nice people at all. They use high pressure tactics and they are not above bullying, intimidation and outright lies. These companies do not always adhere to the guidelines laid down by the OFT and as such are not nice and cuddly like most decent law-abiding lenders. PDLs are just one step above legalised loansharking, and whilst they cannot break kneecaps, they can certainly harass and intimidate people to within and inch of their lives (literally in some cases). Until you have had to deal with a suicidal friend at 2am who is worried and frightened beyond reason and emotionally rung out by continuous phone calls, you should not speak to me in such a patronising manner about poor defensless PDLS.

PDLs might have lent money, that is not in doubt, but the terms of that credit is often downright usurious. In most cases, they recover far more than their fair share of flesh often stripping their victims of their self respect as well. Only the truly desperate or terminally stupid go to these lenders and PDLs will take every advantage, even emptying an account at the first sign of financial difficulty and leaving a family destitute and unable to feed themselves. Banks might send you sharp letters, but PDLs will destroy your life for the next x years in order to protect their bottom line.