Money Shop Taken all my money this morning.

chalkie99

Fergie42 wrote: »

Anyway..quick update.
I became a bit of a pain to the Money Shop yesterday and I think I have now spoken to every employee. I received an e-mail today - after sending several quotes from OFT about their current investigations - stating that I will get a call before 1pm (great).
I replied that I hope so as I am ringing their children's charity Starlight at 1.30pm to discuss the kind of company they receive donations off. Robbing the food from one set of children's mouths to donate to others.
Off to the press after this.
Keeping busy but no real results yet although yesterday's debits are still showing as coming off my balance although not taken yet apart from the contractual £25 which is fair enough x
NB. Please do not read this as a dispute in any way, shape or form with Starlight who are a wonderful charity in every way. I just want them to know who they are dealing with when they are in the press accepting cheques from them

Um...... you borrowed money from them and failed to pay it back resulting in a payment plan "over several months". I think you were a bit of a pain for them long before yesterday.

You really want to go to the press and tell them that YOU borrowed money, YOU signed the agreement which YOU broke?

Don't hold out too much hope with the charity. They will be aware of who they are dealing with and, after all, their supporters would have more profits to donate with them if everyone paid back their loans as agreed.

Not what you want to hear I know.

Fergie42

Thanks Chalkie but there was a bit more too it than that as they did agree the repayment plan without me failing to pay it back as I said earlier it was severe personal problems.
Anyway....I GOT A REFUND TODAY....YAY.
Got to go in to store and pick up the cash.
Note for anyone with similar problem - Kick up a fuss and try and deal with Richard who seems very human.
thanks for everyones help with this - especialky Duchess xx

KingElvis

Guess the moral of the story here is don't borrow money from sharks that you can't afford to pay back?

Looks like you've learned a lesson which is good.

duchesspink1

and people still don't read the posts... to clarify... the OP had a £25 per month repayment plan, she never defaulted on this loan, her agreement was x amount of pounds and a repayment of £25 per month, they money shop made a mistake and took the whole loan amount in one amount. What is hard to understand about this? where does it say that she defaulted then entered a different agreement?

Good news Fergie on getting it refunded, I'm very happy for you!

I hope the rest of your loan term passes without incident xx

d123

duchesspink1 wrote: »

and people still don't read the posts... to clarify... the OP had a £25 per month repayment plan, she never defaulted on this loan, her agreement was x amount of pounds and a repayment of £25 per month,

I don't think that is quite accurate, and what the other posters are getting at is the fact that moneyshop is a payday lender, ie. borrow today, repay on payday or within 30 days with an exorbitant interest rate.

To be paying it back on a payment arrangement at a small amount per month means at some stage the OP has defaulted on repayment.

Fergie42

You are wrong D123. As mentioned earlier (although not wanting to mention it really in case I was accused of the sympathy vote) was that my husband died, I explained this to lenders and they very kindly agreed to let me pay it off at £25 per month - no default, simples!!
They then went and took the whole loan out yesterday which I have now received a refund for. Just for the record I have upped the payments so debt free in 10 months.
thanks all.

KingElvis

Yes, but the arrangement to pay £25 per month (due to changed circumstances) was not the original agreement you had with them? or is it?

Correct me if I misunderstood?

blacksta

payday or loan madness - what has this country turned into

National_Debtline

Congrats on getting the situation sorted.

Fergie42

What D123 was implying KingElvis was that I had defaulted when I have never done this. We came to a mutual arrangement which seems to bother you a whole lot more than it did them.
They took the money in error - got it back.
thanks National Debtline for your kind words