Minicredit help!

dannymacca

Hi all,

I'm absolutely desperate for some help with these people! (Loosely termed).

I was out of funds over xmas and in my stupidity I took out a £150 loan with them.

To cut a long story short I moved banks in January and what with one thing and another I missed the due date 25th January 2012.

I suddenly realised I had this outstanding, logged into the website to see how I can pay and I saw that I owe £328.50!!!

I called them immediately and stated that the lowest settlement figure they can accept to settle this is £280.

This seem's so so wrong I've explained my situation and they don't care I have until 8pm tonight to pay it or it the 'offer' of £280 will expire.

I need help with what to do next please!!!!!!!!

Many thanks,

Dannymacca

KingElvis

Pay it or come to a payment scheme with them?

Having already moved your bank account when you knew you were no going to pay them back was a good move but as you've seen, sticking your head in the sand was not a good move.

Good luck.

dannymacca

They wont budge! I saw an option to repay on the website. The original debt was £183.00 I've just sent them £194.50 to cover additional late interest for the 6 days this is late. They added a £5.50 'part payment' charge when I made the payment so I've effectively just paid them £200.00 which in the scheme of things I think fair.

Does anyone have any previous experience of this situation??? Will they give up or persist???

Super_Daz

Minicredit refuse any payment plans & although I'm still trying to come to an arrangement with them they are refusing to accept anything other than full payment. Oh and they are charging me a £55 default fee every day so how I'm supposed to ever clear this I dont know. I believe they are based in India (despite what their website claims) & so can possibly get away with more than other payday companies.

dannymacca

You can repay through their website. I felt it would put me in a better light if I'd paid the loan and what's due immediately.

The fee's are a joke. £25 after a day £80 + interest after 4 days. Should be criminal. It's taught me a lesson alright. But I refuse to pay that.

Does anyone know if they can legally uphold these charges and fee's??? Say in court??

Many thanks,

Apples2

dannymacca wrote: »

Does anyone know if they can legally uphold these charges and fee's??? Say in court??

That'll be up to the Judge on the day.

You can complain about it though. You MUST follow this procedure correctly before dragging regulating bodies into it, they will insist you have given them an opportunity to deal with your complaint first.

https://www.minicredit.co.uk/comp_procedure

advice - do it in writing so you have a recorded trail, do NOT use emails and online forms.

ihateyes

the law states i believe charges must be fair and reasonable.

Charges can not make profit but must simply cover the costs.

I cant see how minicredit could tell a court that the bank charges £5.50 for a declined card transaction.

It a penalty charge, and a judge would strike that part of any calim out 100%.

Ps... minicredit will never go to court.