Ndr/toohfairyfinance/speedcredit

hanes

I took out a loan for £400 from speedcredit. I ran into difficulties in paying it back.

I've been contacted via email and texts up to 10 times a day regarding this. Have tried to email them but i get responses that seem generic and harrasing.

Have read a little about them around the forums and its clear that they are unhelpful as to setting up a re-payment plan. They state that they do not accept a repayment plan.

Currently i owe £698 which in the coming week i will be able to settle in full.

However i have recieved confusing emails with regards to the debt. The first states that i have until the 16/06 to pay the full amount or charges will be added totalling £1444 by the 27/6

Next i recieve an email stating that as a goodwill gesture if i pay £288 the loan will be extended.

I cannot contact these people they seem very unhelpful they just rather threaten legal action than anything sensible.

What can i do about this? The email states that unless i pay £288 in 24hrs then charges will be added.

But the problem is that i will clear the full balance before the 16th deadline that they have given.

I do not know which is which or what is what with these people at the minuite.

Can they charge me from £288 when they first sent me an email that i have until the 16/06 to repay the £698 outstanding?

thanks

hanes

Loan Ref:

07/06/2012

Dear

This is a reminder that you committed to pay back your Speed Credit Loan*** debt.

This debt is now very overdue. We have allowed you to extend the loan as a goodwill gesture.

As part of settling this debt you are committed to paying GBP 288 by 08.06.2012.

In accordance wih the Standard Terms and Conditions you agreed to, we will be automatically taking payment tomorrow as agreed. Please ensure the amount of GBP 288 is available by midnight tonight.

If there are insufficient funds in the account the payment might fail and all charges will IMMEDIATELY become due, ALL back dated interest, penalty fees will be charged.
Recovery Agents will be sent to all addresses we have on file for you in order to obtain payment. Should this also prove unsuccessful we will be liaising with solicitors who will obtain a County Court Judgement against you. Once this is secured we will return with a Warrant of Execution from the County Court and certified Court Bailiffs to seize goods at 9 times the value of what you owe.

IT IS ESSENTIAL you HONOUR this agreement

If you have any questions regarding this, or willbe unable to pay contact customer services NOW.

Yours sincerely,


COLLECTIONS
NORTHERN DEBT RECOVERY
0843 381 0843

NOTICE: The contents of this e-mail are intended for the named addressee only.

It contains information which may be confidential and which may also be privileged. Unless you are the named addressee (or authorised to receive for the addressee) you may not copy or use it, or disclose it to anyone else. If you received it in error please notify sender immediately and then destroy it.


This is the latest email i have gotten from them

hanes

Then i got this one in repsonse to my email


Payment Plans

It is always advisable to stay in contact with your creditors to avoid additional penalty charges.

Loans are meant to be repaid in full at the end of the initial loan term. This is made very clear in the terms and conditions you agreed to when you took out the loan.

We cannot accept a payment plan.

Please confirm when you will be making FULL PAYMENT to close your file.

Please note payment of GBP 698 needs to be made by 13.06.12 to stop this file being passed to third party Recovery Agents and further fees being added.

however......
you can rollover / extend your loan by just paying the interest on day 28 of your loan. You will receive an email explaining this when you are eligible

happy_bunny_2

You may get more help on the debt free wannabe board.

I would send them a formal complaint via email and ask for a copy of their complaints procedure, as it sounds like they are not acting reasonably.

I would do everything via email or writing (signed for), as what they say on t he phone they are unlikely to put in an email or letter.

bigadaj

You'll need to be very careful with the wording and terminology, just because you make a payment when they ask won't necessarily mean that the debt is cleared. They may be back for more.