Payday loan robbers

emmashouse02

I have a payday loan with Payday express and was unable to make my payment (£550)as planned last week so I arranged with them to pay the interst and some of the remaining balance (total £150)on 7th August. My mother transferred some money into my account this morning so that I could pay for something for her when I went out today but as soon as the money went in they withdrew the full £550. I have spoke to them 5 times today explaining that it was not my money and that I had made an arrangement with them to pay at a later date but they just said that I had settled in full and they would not be giving me my money back.

My mother is furious and will be contacting the police if they do not refund. They keep saying that they will listen to the recording of the phone call when the (alleged) arrangement was made but no one ever rings me back.

Are they allowed to take money from my card when I have an arrangement to pay at a later date? Does anyone know if their loan agreements are legal?

dealer_wins

emmashouse02 wrote: »

I have a payday loan with Payday express and was unable to make my payment (£550)as planned last week so I arranged with them to pay the interst and some of the remaining balance (total £150)on 7th August. My mother transferred some money into my account this morning so that I could pay for something for her when I went out today but as soon as the money went in they withdrew the full £550. I have spoke to them 5 times today explaining that it was not my money and that I had made an arrangement with them to pay at a later date but they just said that I had settled in full and they would not be giving me my money back.

My mother is furious and will be contacting the police if they do not refund. They keep saying that they will listen to the recording of the phone call when the (alleged) arrangement was made but no one ever rings me back.

Are they allowed to take money from my card when I have an arrangement to pay at a later date? Does anyone know if their loan agreements are legal?

Just pay your mother back on the 7th August, and avoid payday loans in the future.

Not worth getting worked up, you both broke your agreements.

pvt

emmashouse02 wrote: »

..... and they would not be giving me my money back.

Correction - They would not lend their money back to you.

And who can blame them. Last time they leant you money you didn't pay it back as agreed.

Whether they acted legally - yes, probably. Whether they acted morally - no, probably not. So now you know what sort of people you were dealing with.

If you think what they did was unlawful then consult a solicitor and see if he'll pursue it for you.

chalkie99

Payday loan robbers

You mean people who try and rob pay day loan companies by not sticking to the agreements they made?

Seem to be an awful lot of them around.

emmashouse02

Something doesn't see right though. The first person I spoke to today said that their was no record of me making an arrangement with them but the second person I sopke to read the notes on my account and confirmed my arrangement almost word for word. They would get a manager to contact me. A manager did not contact me so I rang them back and the person I spoke to this time said that there was nothing in my notes about an arrangement. I think they are making it up. They said that they will find the recording of the phone call but I'm betting that they have no record of that either.

Mum has lost her deposit because I could not pay her balance today so I guess I owe her quite a lot now. Something she'd been dreaming of for a long time too. Paying her back won't quite make up for that.

I know I shouldn't have taken out the loan in the first place but I was desperate and it seemed the only way out at the time. Thats probably the case for most of their customers.

KittenKaboodle

I am actually amazed that any of the "payday loan robbers" are still in business as if these forums are to be believed no-one that takes out their loans willingly repays a single penny.

emmashouse02

Do you think I should cancel my debit card and get a new one. I don't want them taking any more money out of my account without me knowing. I know I don't owe them anything anymore but I don't trust them not to use my details.

cajef

emmashouse02 wrote: »

Mum has lost her deposit because I could not pay her balance today so I guess I owe her quite a lot now. Something she'd been dreaming of for a long time too. Paying her back won't quite make up for that.

If she had been dreaming of this for a long time why didn't she pay for it herself instead of transferring money into your account.

How were the loan people supposed to know it was not your money, if there is enough money that they are owed in an account they take it, that is the way they work.

pvt

emmashouse02 wrote: »

Do you think I should cancel my debit card and get a new one.

That wouldn't help. Once you've authorised someone to use your debit card your bank will honour payments, even after the card is cancelled, as long as your authority to use it was given before you asked the bank to cancel it.

Anyway, they won't bother you again - you're in their rear-view-mirror now. Well and truly.

If Mum's balance needs paying why not just take out another pay day loan?

emmashouse02

Mum can't get about at the moment so asked me to pay for her when I went into town. Can't take her debit card with me really can I.

The point I was making was that they should not have agreed to my offer my payment, which was made before the original payment was due, if they were going to take no notice of it. I was offering more than the minimum payment of £110. I tried everything I could to get the money for them for the original payment date but I couldn't. They sounded really helpful and said that it would be fine to change the payment arrangement.

tell_it_how_it_is

A tad unfortunate, but you've learnt the hard way about how payday loan companies act, due to a fair percentage of their clientele reneging on agreements.

Put it down to experience, and think of the hefty amount in additional interest it has no doubt saved you.