Payday loans - excessive fees

meer53

grayselegy wrote: »

I certainly won't be looking to my boss for £34 when I'm only too glad to have a job! That really wasn't my issue. How can the PDL company justify charging £34 for a bounced DD? The banks couldn't (and it was in their contracts too) so how can they? Perhaps if we all try to reclaim the unfair charges, they will have to do something about them, as the banks were forced into. To me, it's worth the £20 to file an online claim for the charge and see what happens. At least it'll cost 'em more than that to defend the claim.

It's probably not a bounced DD, it's more likely to be a a declined continuous authority payment.

Good luck with your claim, personally i could find better things to do as i would realise that it was an error but thats just me ! :rotfl:

Boris_Allen

grayselegy wrote: »

That's none of your business Boris, but trust me, it was vital, urgent, and well spent.

If it was as vital as you say, then you should be thanking the PDL company for lending you what you required, not moaning about what they charge you.

grayselegy wrote: »

As for depending on my employer to pay me on time, we don't all have the luxury of having some money to buffer us if these things don't happen, so yes, I do make the mistake of depending on being paid on time, and no, I don't have a choice about that.

If we manage our money properly, and invest a little time into budgeting and not spending beyond our means, then yes, we really do all have that luxury.

A_nice_fellow

Boris_Allen wrote: »

I really don't get why everyone is so aggrieved by these "unfair" charges. When you borrow money before you've legitimately earned it, you abide by your lender's terms. You weren't forced to take out that loan were you? You weren't forced to use your overdraft?

It really isn't that hard to be responsible with money. Take this one on ther chin, and in future if you don't like these charge, then don't use PDLs. Simples

Shut up Boris. It isn't the OP's fault, it's his Boss's.

grayselegy

OK, OK, I get it - give up and move on. Grrrr....
Guess I'll take your advice....And write to my MP about PayDay companies, something clearly isn't right here, even if it is "legal".

opinions4u

While not supporting the charge, it's not that much different to bounced direct debit charges from a bank, late payment fees on a mortgage etc. etc.

I think the best thing you can take from this is never to use a PDL company again and to ensure your budgeting gets you from pay day to pay day.

By the way, when businesses start to pay staff late in can often be a precursor to a company going bust. So I'd actually start setting some money to one side just in case. You might just need it.

Stop borrowing. Start saving.

tell_it_how_it_is

For what it's worth, my advice is to never set anything up to come out of your account on the very same day you expect your wage/salary to go in - it saves on hassle/annoyances/charges such as this.

andyf3050

Boris_Allen wrote: »

Totally legitimate charge. What makes you think you can take out a loan under specific terms and conditions, yet complain when you fail to meet your end of the bargain?

Not the employer's fault either that you made the mistake of depending on them to pay you on time. What exactly did you so desperately spend the money on that couldn't have waited til after you had paid anyway?

I do hope Boris Allen who posted this is not in Customer care... his attitude stinks!

I think you will find that your employer could be made to pay the outstanding costs incurred if it states in your contract that your salary will be paid on or by a specific date. I am paid on the 20th of every month and if that falls on a Saturday or Sunday then the salary is paid on the last working day before the 20th. If my employer fails to pay me on the date agreed then I am entitled to make a claim against them for all charges incurred through their failure to pay me on time as agreed. If my mortgage and bills went unpaid I would incur horrendous charges and it would not be fair for me to have to foot the bill for something that is not my fault.

Boris Allen... if you worked for me with that attitude you'd be collecting your P45 by the end of the week.

Chrisblue1962

opinions4u wrote: »

....I think the best thing you can take from this is never to use a PDL company again and to ensure your budgeting gets you from pay day to pay day.....

....Stop borrowing. Start saving.

100% Sound Advice.

From bitter personal experience i have used PDLs once or twice when absolutely desperate but the ONLY LONG TERM solution is

• Balance your outgoings / budget... an absolute "Must Do"
• Start saving regularly, however small, to build a Emergency Fund to cope with life's small unforeseen problems.
• Pay off your debts asap

andyf3050

Boris_Allen wrote: »

I really don't get why everyone is so aggrieved by these "unfair" charges. When you borrow money before you've legitimately earned it, you abide by your lender's terms. You weren't forced to take out that loan were you? You weren't forced to use your overdraft?

It really isn't that hard to be responsible with money. Take this one on ther chin, and in future if you don't like these charge, then don't use PDLs. Simples

Yet another totally disrespectful post by the Duke of Diplomacy...! Either give helpful advice or shut up...! Nobody wants to be spoken down to by you. They are fully aware of any mistakes they may have made and don't need you spouting your mouth off as if you're telling off a naughty child, they come here for advice about all kinds of day to day matters and disputes. Are you totally perfect that you can pass judgment on others? I doubt it. In all honesty... you sound like a bully!
I don't like bullies... and I'm sure I'm not alone in saying that...!

meer53

andyf3050 wrote: »

I do hope Boris Allen who posted this is not in Customer care... your attitude stinks!

I think you will find that your employer could be made to pay the outstanding costs incurred if it states in your contract that your salary will be paid on or by a specific date. I am paid on the 20th of every month and if that falls on a Saturday or Sunday then the salary is paid on the last working day before the 20th. If my employer fails to pay me on the date agreed then I am entitled to make a claim against them for all charges incurred through their failure to pay me on time as agreed. If my mortgage and bills went unpaid I would incur horrendous charges and it would not be fair for me to have to foot the bill for something that is not my fault.

Boris Allen... if you worked for me with that attitude you'd be collecting your P45 by the end of the week.

I get the impression the OP wants the PDL to be kept secret. Fair enough really, don't think i would broadcast it either !