Tooth Fairy Finance - They Wont Just Take Your Teeth, The'll Have Your Wallet Too!

NikNox

wMy son borrowed from TF, £400. He paid £200 but got into difficulty & now his debt is £1400 due to interest & a £350 fee for passing the debt to Northern Debt recovery, who, funnily enough are in the same 'group' (along with Speed credit - and at the same address!). He got abusive, threatening texts, emails etc. Anyway, I have offered to pay his original loan plus the interest agreed had he paid on time. I went to the NDR website to pay that amount only but their pay page is NOT secure. I will not enter my card details on an unsecure pay page, & read on another forum that someone did pay their friends debt for them on the NDR website pay page, & NDR tookmoney from their bank account without authorisation. We will write to NDR with a cheque which they will have to accept as I am not willing to pay any other way that involves giving them my card number & security number. They can take my son to Court for the rest & explain to a Judge their extortionate fees, interest & bullyboy tactics!

gizmo111

You can pay by bank transfer

Q: How do I pay back my loan?


A: To pay us back either

• click the Pay Now tab on the top of the screen to use your debit card; OR
• simply transfer the amount required to our Barclays account:
  
  A/c number 93462382
  Sort code: 20-50-94
  Ref: YOUR MOBILE NUMBER
  
  Either your bank will let you do this on-line, by telephone or at a branch or alternatively visit a Barclays Bank branch and they will take your payment over the counter.

PLEASE use your MOBILE PHONE NUMBER as the REFERENCE so we can match your payment to your debt and record it as paid off*

NikNox

Thank you for that. I'll go into the bank & do it that way. In their email to my son they weren't too happy with that payment method, stating to be 'aware it will take 5 days to reach our account therefore accruing more interest'. Their recommended payment method is via the NDR website, which is unsecure. Seems that they really want your cards details! I wonder what for!!!

We will email then informing them how they will be paid, & will copy the email to the OFT & Trading Standards!

NikNox

Hi again,

Well, I paid my son's debt, the original loan plus a month's interest based on their calculations three weeks ago, yet they are still hounding him, daily, with phone calls mainly and voicemails. The first call he received after the original loan was cleared he told them he had paid it, would not be paying any more (the loan now apparently stands at £2380!!!) and if they wanted the rest they would have to take him to Court. He also asked it to be placed on his file that he wished for any further communications to be either in writing or email. They told him this wasn't possible, they could only communicate on the telephone, so he said that was up to them, but he would simply refuse to say anything when they called. They told him he was being unreasonable!!!!! Since then, he's had voicemails daily telling him to urgently ring them to pay the full amount or they will send the Bailiffs round. Then, when they've called and he's answered, they've said the same thing about sending the Bailiffs round, so he's asked them if they have a court order to do that, and then, funnily enough, they hang up. He's requested several more times for communication to be in writing, but they are still refusing that as an option. He told them one time he's complained to the OFT, and they said 'what the hell did you do that for?'. Erm, you really have to ask that question??? Anyway, he spoke to them again on Friday and asked to speak to the supervisor, who despite being relatively calm (the original call handler was not calm and was very angry and abusive) insisted that they do not have to communicate in writing, will NOT communicate in writing and if the whole debt is not paid within 24 hours the Bailiffs will be on the doorstep. My son said 'bring it on then mate, I'll be happy to slam the door in their faces because without a Court order they have NO RIGHT to even knock on my door!'. The supervisor said they will be 'fast tracking' him to Court. I've told my son not to worry, that as far as I can see they have yet to take anyone to Court, and even if they did, they would have to explain to the Judge their underhandedness, exhorbitant fees and direct refusal to communicate in writing!

There people are parasites!

gizmo111

Have you actually made a complaint to the OFT?

eyeopener2

You need to make these complaints official. It is the only way to deal with them.

First complain in writing to Tooth Fairy, try and find the chief executives name if you can.

When that complaint falls on deaf ears your off to the financial ombudsmen.

In the meantime complain in writing to

Your MP

The OFT

And finally the trading standards office local to Tooth Fairy head office.

Half dozen letters and maybe a nice juicy fine for TF (I would hope for them being shut down but you can't have everything).

NikNox

Yes, a formal complaint has been made to the OFT, by my son & myself. He phoned them & then emailed his complaint. Whilst on the phone to them they told him to get everything in writing, which they refuse to do, so another complaint has been made about this too.

I'm surprised they're still trading to be honest!

fermi

With a bit of luck................

http://www.citizensadvice.org.uk/press_2013_02_15

stacey654

Is toothfairy finance one of these companies that the CAB are talking about?

I'm having dealings with them currently and as soon as I mentioned OFT, they began being very friendly.

michael1983l

Just one thing to note, this company has not taken one single debtor to court for payment.


I lodged a complaint about these to the OFT around 18 months ago. But I have just had a high level complaint about them and their practices upheld by the Ombudsman and have been awarded compensation in the hundreds of pounds.

My advice is that anybody that feels they have been mistreated in accordance with the guidelines on debt collection, to raise a complaint with the OFT and Ombudsman.

The figures they claim you owe them is virtually made up in order to scare you into paying them before it gets bigger. Hence the reason they have never taken anybody to court as they would have to explain to a judge how they managed to come up with these magical figures.

Oh and take it from me, this company is about to have its consumer credit licenses torn up. Keep an eye on the OFT press releases section on the website in the coming months.