Payday Express - Cancelling/Withdrawing Loan

Janie4Now

JayD6 wrote: »

Under the impression that this was a new loan.



Very judgmental of you to 'bet' I've done this and 'bet i've done that' ... iI bet you are a lot of things, but i won't put them here.




I am trying to cancel a loan which I do not need , nor want. It is my right to be able to do so. If you fancy giving me the £200 and paying up, then i would happily transfer you the details of an account you could pay it into.

This is a new loan. Plain and simple. It is. Whether you, or they, like it or not. Appreciate the responses. Regardless of how judgmental and arrogant they are.

Also, Janine, it made me chuckle what you signature says. Pretty much summed up my first impressions of what you may think of yourself.

I'm really sorry that I didn't tell you what you wanted to hear. I am not aware of anyone on this Forum being judgemental - most of us are here because of our financial adventures after all. These are our opinions, which you asked for. Personal insults are unnecessary.

If you had any sort of case - if there was real injustice - then any one of us would be doing whatever we could to help. It would seem that you are just another person trying to find a way out of paying what you owe (what you signed up for when you thought you needed their money) and that will get little support.

JayD6

Janie4Now wrote: »

I'm really sorry that I didn't tell you what you wanted to hear. I am not aware of anyone on this Forum being judgemental - most of us are here because of our financial adventures after all. These are our opinions, which you asked for. Personal insults are unnecessary.

If you had any sort of case - if there was real injustice - then any one of us would be doing whatever we could to help. It would seem that you are just another person trying to find a way out of paying what you owe (what you signed up for when you thought you needed their money) and that will get little support.

I borrowed the money, said 'Actually, no , i don't want this, have it back' how is that attempting to get out of what I owe anybody. If i go to the shop, buy a TV for £735 , then on the way out the door say 'Actually, i don't want this' why should I then be charged £210 when I take it back? Baring in mind that the law states that financial credit is rightfully allowed to be cancelled within 14 days.

poppasmurf_bewdley

JayD6 wrote: »

I borrowed the money, said 'Actually, no , i don't want this, have it back' how is that attempting to get out of what I owe anybody. If i go to the shop, buy a TV for £735 , then on the way out the door say 'Actually, i don't want this' why should I then be charged £210 when I take it back? Baring in mind that the law states that financial credit is rightfully allowed to be cancelled within 14 days.

I wonder if I go to PC World and buy a Desktop Publishing Programme, get home and use it to produce a magazine, then decide I don't want to produce magazines anymore, so take the DTP prog back to PC World, would they just charge me for one day's use (say one x 365th of the purchase price) and give me the rest of my money back? I don't think so. If the programme was faulty, I could get my money back and no other way.

Was your loan faulty?

To be honest, I've heard some excuses on this Forum for trying to avoid paying, but yours takes the biscuit.

dfwsometimesoon

JayD6 wrote: »

I borrowed the money, said 'Actually, no , i don't want this, have it back' how is that attempting to get out of what I owe anybody. If i go to the shop, buy a TV for £735 , then on the way out the door say 'Actually, i don't want this' why should I then be charged £210 when I take it back? Baring in mind that the law states that financial credit is rightfully allowed to be cancelled within 14 days.

as i said does your agreement/contract that u received for this specific loan outline the 14 day cancellation period ?? if not and it is as they say when u applied in 2011 the 14 day cooling off period was applied then..i cant see how u are gonna get anywhere with this?? in all fairness they have given their response on this yes u can continue to argue with it etc but it aint gonna get u anywhere.. payday loans are classed as revolving credit ... hence why so many people have problems with card payments being taken etc ... almost like a credit card where u dont receive a new credit agreement each time u make a purchase/transaction im assuming they are working on the same principle.. ie ur initial 14 day cooling off period applies when u 1st apply for the account and not any additional borrowing/usage..

when u applied for this new loan am assuming u logged into ur initial account... surely this was an indication that the account hadnt been 'closed' previously??

dfwsometimesoon

JayD6 wrote: »

Type of Credit: This is a running account loan facility which enables you to draw down on your Credit Limit until you have used up the entire Credit Limit shown below.
Credit Limit: SUM £320.00 This amount may be varied to such a sum as may be determined by us from time to time and notice of it will be given by us to you.

actually in re reading the t&cs that u posted that were received in 2011 its quite clear that it is a revolving credit agreement where the funds can be used, paid off and used again as often as needed.... therefore there is no new loan agreement each time u apply for funds... ur borrowing, paying and re borrowing up to the credit limit they have allocated u based on the inital t&cs u received on sign up...

JayD6

poppasmurf_bewdley wrote: »

I wonder if I go to PC World and buy a Desktop Publishing Programme, get home and use it to produce a magazine, then decide I don't want to produce magazines anymore, so take the DTP prog back to PC World, would they just charge me for one day's use (say one x 365th of the purchase price) and give me the rest of my money back? I don't think so. If the programme was faulty, I could get my money back and no other way.

Was your loan faulty?

To be honest, I've heard some excuses on this Forum for trying to avoid paying, but yours takes the biscuit.

Financial law states i am entitled to cancel.

dfwsometimesoon wrote: »

as i said does your agreement/contract that u received for this specific loan outline the 14 day cancellation period ?? if not and it is as they say when u applied in 2011 the 14 day cooling off period was applied then..i cant see how u are gonna get anywhere with this?? in all fairness they have given their response on this yes u can continue to argue with it etc but it aint gonna get u anywhere.. payday loans are classed as revolving credit ... hence why so many people have problems with card payments being taken etc ... almost like a credit card where u dont receive a new credit agreement each time u make a purchase/transaction im assuming they are working on the same principle.. ie ur initial 14 day cooling off period applies when u 1st apply for the account and not any additional borrowing/usage..

when u applied for this new loan am assuming u logged into ur initial account... surely this was an indication that the account hadnt been 'closed' previously??

I did not log into an account, nor did i receive any agreement

dfwsometimesoon wrote: »

actually in re reading the t&cs that u posted that were received in 2011 its quite clear that it is a revolving credit agreement where the funds can be used, paid off and used again as often as needed.... therefore there is no new loan agreement each time u apply for funds... ur borrowing, paying and re borrowing up to the credit limit they have allocated u based on the inital t&cs u received on sign up...

If you read the agreement again, it also says that it is valid for 70 days. Correct?

Apples2

You!!!

....

JayD6

Apples2 wrote: »

You!!!

....

Thank you for your input. Very helpful.

Apples2

JayD6 wrote: »

Thank you for your input. Very helpful.

No problem, just wanted to clarify a correct spelling which seems difficult to master.

Not sure why you are persevering with this thread, you already decided your legal position and are not prepared for any other opinion.

Just send them the same amount back they lent to you and ignore any other claim for payment. Tell the bank you retract their ability for recurring payment from your account. Job done.

dfwsometimesoon

JayD6 wrote: »

If you read the agreement again, it also says that it is valid for 70 days. Correct?

Any one loan is yes however as soon as u pay and re borrow the 70 days restarts going down the cancellation argument is gonna get u no where its is clearly stated the type of account in the t&cs.

JayD6 wrote: »

I did not log into an account, nor did i receive any agreement

no u would not receive an agreement as already established its a revolving credit account therefore the t&cs from 2011 are the only agreement signed for the acount.

If u did not log into any existing account how did u apply for the loan???