Payday Express have taken all my money!!!

jojo81182

Hi,

I've never posted before but I am SOOOO angry I have to ask for any advice or suggestions that anyone has on this one!

I had a payday loan from Payday Express about a year ago - I think it was for about £500. I lost my debit card before the payment was due to come out of my account so the card was cancelled and they couldn't debit the payment. I called them to inform them that this was the case but said that I couldn't afford to pay the whole amount back so they agreed to take the payment in installments. On the date that they were due to take out the first payment they took the whole amount leaving me with literally nothing. I complained about this and they agreed to refund difference of the installment that I had arranged.

As soon as I received the refund in my account I cancelled my card again as I completely didn't trust that they would not do this again. I was so angry with them that I didn't answer their calls and letters after they were unable to debit the next installment. After 2-3 months I finally answered their call and arranged a payment plan of £50 per month until the debt was repaid.

They have been taking the repayment of £50 per month as agreed for the past 5months.

I went to withdraw some cash today after being paid yesterday and the machine said I had insufficient funds. My balance was 76p! I called the bank and they found out from the fraud department that there were 7 seperate transactions relating to Payday Express for the amounts of: £25, £12.50, £12.50, £162.50, £25.00, £25.00 & £50 - so that's £312.50 in total and I now have 76p to feed my daughter and I for the next month. Luckily all my bills went out of my account yesterday so at least their covered.

I called Payday Express at 12.59pm today and lo and behold they closed at 1pm. So i'm stuck and cannot do a thing until Monday. The thing is, how do I know that they are going to give me my money back?? Are they even obliged to? How can they justify taking 262.50 more then they should of? More to the point, how the hell am I going to last the month on 76p?????????

Any advice or suggestions would be greatly appreciated

Thanks for reading my rant,

Jo

DCFC79

Well your going to have to survive on 1 noodle for 1 month. Call them up first thing and explain what happened re the extra money gone and the payment plan.

fermi

If they argue about returning the funds, then remind them that the OFT has this to say about the abuse of continuing payments...

https://forums.moneysavingexpert.com/discussion/comment/47811971#Comment_47811971

The OFT considers that while it is not unfair or improper for a creditor or a debt recovery business acting on its behalf to use continuous payment authority to recover 'recurring repayments' (for example, repayments of £100 per month, on the first day of the month, over 10 months, to recover a loan of total cost to the debtor of £1,000) it is unfair and improper to seek to use it to make recurring attempts to recover a 'SINGLE repayment' (for example, making numerous consecutive attempts to recover, in full or in part, a single repayment of £100 on a loan of total cost to the debtor of £1,000).

If a debtor is, or appears as if he may be, experiencing difficulties meeting repayments (for example, because an attempt by the creditor to recover a repayment is unsuccessful), we would expect the creditor, or the business seeking to recover repayment on the creditor's behalf, to exercise forbearance, and, if appropriate to do so, amend or suspend any continuous payment authority (or any other means of recovering repayments) in order that a more sustainable repayment plan might be agreed with the debtor.

Continuing to seek to extract any or all monies from a debtor's account, where a debtor has failed to make a full or partial repayment, by repeated attempts to exercise a continuous repayment authority would, in the OFT's view, constitute an irresponsible lending practice for the purposes of section 25 (2B) of the Act since such a practice facilitates 'failing to treat borrowers in default or arrears difficulties with forbearance'.

iaintw

i felt sorry for you jo. But oft is doing a investgiations related to payday loans and making the customers in finance problems too.

[Deleted User]

Only a few weeks ago there was someone on another forum with this exact problem near enough - they called PDE up apparently who saw the 'error of their way and were reasonable' (ahem) and were able to go to their nearest Money Shop to be refunded in cash next working day - I don't know how true this is I must say, or you could request your bank to do a chargeback on the unauthorised transactions?

Hope you've got your plan in writing? for any future payments request their bank details to set up standing order.

[Deleted User]

See if you have a 'foodbank' in your local area - may be connected to your local council to help with food supplies, anything but don't take another payday loan x

LovelyLeeds

jojo81182 wrote: »

I lost my debit card before the payment was due to come out of my account so the card was cancelled and they couldn't debit the payment.

As soon as I received the refund in my account I cancelled my card again as I completely didn't trust that they would not do this again.

The thing is, how do I know that they are going to give me my money back?? Are they even obliged to? How can they justify taking 262.50 more then they should of? More to the point, how the hell am I going to last the month on 76p?

Lost / Cancelled - Cancelled / Lost? There's only one way to find out.......

jojo81182

Thank you all so much for your comments. I have also had a problem with this company previously for behaving in the same way (fortunately I was refunded) They took £815 from my account after me having agreed to pay them £100. I didn't even owe them £815!! (this is for the same loan that I have been paying back at £50 per month)

Fermi - In the link that you gave me it said something about the misuse of continuous payment authority. This definitely applies!!!

I've sent a very stern email (so it's in writing) and will call first thing Monday morning so will keep you updated.

Thanks so much again for your advice, it really is much appreciated.

Jo xx

jojo81182

Lovely Leeds - What do you mean by that?! :S

jojo81182

Deleted%20User wrote: »

See if you have a 'foodbank' in your local area - may be connected to your local council to help with food supplies, anything but don't take another payday loan x

Thanks for that BUT I WILL be getting my money back... even if it means going to their offices and not leaving until I do - at least they'll have gas and electric! lol

[Deleted User]

Good there are plenty of ways to go about getting your money back x now from my own sad & bitter experience more money is probably being taken then ever expected because the interest is never really froze - you must watch yourself with this company as you've discovered first time really.

I don't think I can say anything more on the subject apart from they do give their bank details out or you can pay cash at a Money Shop to avoid this in the future, if it's not the end of the matter.