Partial Settlement rejected

rubbishgambler

Hello,

I have an outstanding blance with a payday loan company called Peachy.co.uk. The original loan was for £100 paying back £110 after 7 days which I didn't (December 2011). I've being plagued by Mackenzie Hall with letters and phone calls for the current balance of £350.

I sent them e-mail telling them to stop harassng me on the phone as per the administration of justice act and offered them a full and final settlement of £140 which I thought awas reasonable.

They have replied that Peachy will not close the account for £140 but are in a position to offer 25% discount so account can be closed for £262.50.

I do not want to pay this much, any ideas what I should do now?

Thanks, Matt

bargainbetty

You can offer a sum in the middle of those two figures. Or you can pay up. What you think is reasonable is probably not what they think is reasonable, and the balance of law is on their side.

Or they can slap defaults and CCJs on your record and screw your credit for six years....

Just out of interest, why don't you want to pay up? You failed to abide by the agreement, so they do have you over a barrel here....

rubbishgambler

Just don't think it's a reasonable figure. Trying to settle a number of debts with the money I have and can't afford to pay any of them in full. They've added £250 interest in four months on a £100 original debt. I know they have T&C's etc which I agreed to but was hoping they would be more reasonable and accept a smaller payment.

XXSCOTSLASSXX

rubbishgambler wrote: »

Hello,

I have an outstanding blance with a payday loan company called Peachy.co.uk. The original loan was for £100 paying back £110 after 7 days which I didn't (December 2011). I've being plagued by Mackenzie Hall with letters and phone calls for the current balance of £350.

I sent them e-mail telling them to stop harassng me on the phone as per the administration of justice act and offered them a full and final settlement of £140 which I thought awas reasonable.

They have replied that Peachy will not close the account for £140 but are in a position to offer 25% discount so account can be closed for £262.50.

I do not want to pay this much, any ideas what I should do now?

Thanks, Matt

if their charge is £10 for 7 days (1 week) and uv had loan since Dec.... thats approx 20 weeks.... £200 in interest charge.... id say they were being fairly reasonable offering to close for £262.50 to be honest... prob not what u want to hear however you have broken the agreement not them.... possibly if u had made an effort to clear some for the original £100 before now they may have been more receptive to your offer however I think thats prob the best your gonna get....

RobertoMoir

rubbishgambler wrote: »

Just don't think it's a reasonable figure. Trying to settle a number of debts with the money I have and can't afford to pay any of them in full. They've added £250 interest in four months on a £100 original debt. I know they have T&C's etc which I agreed to but was hoping they would be more reasonable and accept a smaller payment.

They don't have to agree to your offer - they've at least counter-offered instead of just telling you to sod off. "Reasonable" is a two way street.