PAYDAY loan company overpaid and are trying to over charge!!

zickman1

hi,

im hoping someone here could help with this unusual matter.

my partner has taken a payday loan (bad idea as it is) out of £100 with interest of £60 for one month and although i nearly sh*t myself when i heared the interest that wasnt too much of an issue as we can pay that.

my partner thought some other owed money had come to her in the region of £800 so she used i think around £350 to pay off other debts and to get herself a new outfit.

turns out the payday loan company had over paid her by £700+ and want ther money back.....

we have a credit/loan agreement signed for £160 to repay in i think 2 weeks but they are trying to say that the so called £400 (should be around £350) has to be paid tommorow but because we have had it for a week - week n a half its now £500 and something to repay when we dont have a credit agreement for that.

my partner has offered to pay it back in bits but they said no it has to be paid now and with interest.

she has changed her bank card which should hold them at bay for a while.

what should we do as this is spiralling out of control fast?

also do we even have to pay this back with no legal binding documents?

any help would be realy apreciated!!

many thanks.

zickman1

opinions4u

also do we even have to pay this back with no legal binding documents?

You lost my sympathy by even asking this question.

DevCoder

zickman1 wrote: »

hi,

my partner thought some other owed money had come to her in the region of £800 so she used i think around £350 to pay off other debts and to get herself a new outfit.

Yet you needed (or she felt you needed) a £100 PDL , and didn't pay a PDL which is a high priority debt short of Council Tax etc in anyones books?

You owe the money, certainly ask the PDL to look look at their records and put you back in situation that you should have been in prior to any mistake on their behalf.

But don't expect to be able to escape your due debt.

chalkie99

The whole story sounds very unlikely.

If it was a big shock that she had borrowed £100 then maybe she is breaking it to you gently and she actually borrowed the rest too.

she has changed her bank card

I wouldn't necessarily rely on that to save you.

do we even have to pay this back

You had it - you pay it back. Finders Keepers is only in primary school.

Anyway, look on the bright side - if she really is owed £800 from elsewhere then you still have that to come. Get on with chasing that up.

jason1231972

chalkie99 wrote: »

The whole story sounds very unlikely.

If it was a big shock that she had borrowed £100 then maybe she is breaking it to you gently and she actually borrowed the rest too.

My guess is she borrowed a sum of money in previous month(s), but this new £160 is the only amount to be discovered/disclosed to her OH.

Penny-Pincher!!

Of course you owe the money...its NOT yours!!

stephane_2

Come on...get a life...your partner take a pay day loan & suddenly £800 appear from nowhere, like by magic, that's the best I've heard for a long time!

mel12

The original amount, yes you will have to pay it back. But I think you might have a case for not paying interest on the additional amount you didn't ask them to give you, it would be worth getting some advice from one of the debt charities on this.
Trying to find a link for you about the continuous payment authority thing payday loan companies do..

mel12

Here. (link to how to stop them taking money out of your account without your consent).

Note this is intended as a short-term thing while you get some debt advice (from eg CCCS or the citzens advice bureau) and sort out a plan for paying them back.

Wutang_2

mel12 wrote: »

Here. (link to how to stop them taking money out of your account without your consent).

Note this is intended as a short-term thing while you get some debt advice (from eg CCCS or the citzens advice bureau) and sort out a plan for paying them back.

An ironic and moronic thread - very good work.

27col

It is outrageous that the loan company want their money back. Especially as it has already been spent. How dare they!