speed credit help

tinkerbell_2k12

Hi There
Im just looking for some help on what my next steps should be regarding speed credit, i took out a loan and not long after lost my job im now on income support i live alone with my son and this is my only income, i contacted cccs who were very helpful and gave me template letter to send to the speed credit stating that id offer token payments and that could they consider freezing interest. i also sent a letter stating i cancelled CPA at my bank and that i was Cancelling it with them too at their end. I sent both these letters recorded delivery to the warwick address thats on their website, i have proof of delivery due to they were both signed for.
I have recieved emails off them stating that the loans overdue and needs paid for etc...
Yesterday i received a phone call of an unknown number which i did not answer and a msg was left my NDR saying i needed to contact them regarding my speed credit loan, at that point speed credit hadnt even informed me that it had been passed on to their debt collectors. But this morning i recieved the following email.


Ref ID:
14/07/2012
Ref Loan:

Sum outstanding GBP 354


We have made a number of attempts to contact you by email and SMS to discuss the outstanding balance on the short-term loan you took out on and you have made no effort to return these enquiries.
We have also warned you in advance of additional charges you have incurred.
As we make clear to all our customers our product is intended to be a short term financial solution. If the loan is extended this product can become expensive.
As we have not heard from you and not received payment we have been left with no alternative and are writing to advise you that this debt will be passed on to our Debt Collections Agency in the next 24 hours.
As per the terms of the contract between Speed Cr edit and yourself instructing the Debt Collections Team will add a further GBP 150 to the balance you owe. Debt recovery agents will call at the addresses we have on file for you until they are able to successfully collect the sums you owe. If our debt recovery agents, after a reasonable attempt at the addresses on file, cannot successfully recover the monies owed by you, we will issue a claim against you in the County Court for the outstanding balance plus the further charges and recovery costs that have been incurred.
You should be aware that a County Court Judgement against your name will remain for 6 years on the National Credit Records (NCR) accessed by employers, insurers and banks and may result in:-
a) difficulties in obtaining future credit
b) difficulties in obtaining a mortgage
c) being questioned at a County Court as to your financial circumstances
d) any current employers be ing informed so an application against your earnings can be issued
e) difficulty in securing future employment due to an adverse credit history and credit score
f) a Warrant of Execution and bailiffs being instructed
We will apply for a County Court Judgement followed by a Warrant of Execution and a Bailiff order to seize goods from your addresses to be issued simultaneously to the County Court Judgement. This Warrant authorises Certificated Bailiffs to seize goods at the addresses held on file for you (including what may be your family home). These goods will be taken and put up for sale at public auction until the total amount you owe is satisfied.
The initial cost of issuing a County Court Judgement is GBP 45, this will be charged to your account on the date of issue.
The further court costs including solicitors time, application for a Warrant of Execution and the appointment of Bailiffs will also be added to what you owe.

As yo u can see this will ultimately cost you a great deal more if you do not deal with this matter now.
It will also cause you a great deal of difficulty for many years to come.
We strongly recommend that you settle this amount immediately to limit further costs, preserve your credit rating and your ability to gain full time employment.
Please immediately pay 354 by either:

1) Paying online by visiting. and clicking Pay Now;
or
2) Make a bank transfer for GBP 354 to:
Barclays Bank
Account number 93462382
Sort code 20-50-94
Ref: Use your mobile number (as a reference so we can match it correctly

ALSO please EMAIL us confirming that this has been done to stop the debt being passed to the Debt Collection Team and further charges being incurred.

If you ignore this and our debt recovery agency is instructed it will be a short matter of time before the CCJ is issued and Bailiffs are instructed to seize goods.

We look forward to hearing from you confirming a speedy resolution of this matter.

If you have already repaid and this is not reflected in the above statement please contact us so we can investigate this further and correct your file.

Regards



Speed Credit - LEGAL RECOVERY
t: 084 3381 3381
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Theyve never texted me so thats a lie on their behalf, and its obviously already been passed over cos they rang me yesterday, and why would a debt collector come to my address shortly, its not like id let them in, these seem quite threatening to me, what should be my next step with them.
Sorry for the long post, thanks in advance for any help.

fermi

Worth reading this link: https://forums.moneysavingexpert.com/discussion/3952159

May help put these silly emails in perspective, anyway.

tinkerbell_2k12

Thank you Fermi, ive given it a good read, ill send a letter off revoking any right to come to my home, CCCS advised me to do everything through writing recorded post. reading through that link uve posted by the looks of it they dont really listen to people through email or post. Ill just carry on paying token payments their not going to get any money out of me that that i havent got. I just find it strange how NDR left a msg on my phone yesterday when according to todays email it isnt gonna be passed on for another 24 hours. They state i havent made any effort contacting them when i clearly have. Theyre a bunch of idiots.

ihateyes

there is a good thread on consumer action group just now under payday loans about speed credit. CANCEL YOUR CARD AND CHANGE ACCOUNT as they have been known to debit under a different company name.

do not expect an easy ride. this company doesnt do payment plans.

keep all documentation. do not discuss on phone.

tinkerbell_2k12

Thanks ill look that up now, i opened a new bank account with a different bank and have redirected my benefits to it, so they cant get their hands on it. i reported the card they have the details to as lost and its been replaced and the bank has put a block on toothfairy being able try and debit any money not that theres any there anyways.

Apples2

tinkerbell_2k12 wrote: »

Thanks ill look that up now, i opened a new bank account with a different bank and have redirected my benefits to it, so they cant get their hands on it. i reported the card they have the details to as lost and its been replaced and the bank has put a block on toothfairy being able try and debit any money not that theres any there anyways.

Why did you get a new card?
the whole point is to close the account completely.

If there is an overdraft facility (or if they allow an unauthorised charge to go in), they could still take money from it

tinkerbell_2k12

Apples2 wrote: »

Why did you get a new card?
the whole point is to close the account completely.

If there is an overdraft facility (or if they allow an unauthorised charge to go in), they could still take money from it

Was just to give myself enough to time to change my direct debits over to my new account as i was waiting for my new account details and card comin thru the post as i opened my new account online, but ill be gettin it closed as i sorted them all out yesterday

tinkerbell_2k12

I sent the following email to speed credit on saturday.

" Regarding the email you sent yesterday that said i have made no effort to contact with regarding the outstanding debt, i have sent 2 letters to you regarding my current financial situation and included a budget form. these were sent recorded delivery mail which were both signed for which i have proof of. which you have made no effort to reply to, so may you please recheck your files.
Also on the email it stated you had sent me numberous texts which you have not, i havent recieved any texts off you"

Ive just recived the following today how to i reply to it since they seem to ignore, recorded delivery letters and emails.

Thank you for your message passed to us from Speed Credit.
We are fully compliant with all necessary laws, legislation and the Office of Fair Trade (OFT) Guidelines.
Our company registration number is 6956396 and our Consumer Credit License Number is 631166 details of which can be verified on the Office of Fair Trade website.
Your current outstanding balance is £354.
On 24.07.12 you will incur the following charges:
£350 recovery fee
£10 missed fee
1 interest charge of £48
which will make your outstanding balance £762.
You must pay either
1) £354 by 23.07.12,
OR
2) £762 by 07.08.12.
If you have any questions please don\'t hesitate to call us on 0843 381 0843.
Failure to make either payment will result in your file being passed to a third party bailif company who will commence proceedings against you in your local county court
Yours sincerely,
COLLECTIONS (129)
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

L_Jones89

Sounds like you're having the same problems as me!

Just this minute I have sent a letter to Speed Credit telling them I am reporting them. Looks like they're trying to take the p*** out of a lot of us!

tinkerbell_2k12

Let me know how u get on LJones and if u have any luck, ive attempted contact with them and they just seem to ignore it. Ive been having a good read through the forums about speed credit and what to expect by the sounds of it their idiots that dont accept anyones token payments or payment plans. Ive been writing up my complaint against them too.