Snubbed by loan company

wenz58

We took out a loan with Payday Express. Shortly after that my husband became unemployed. After numerous calls to them to explain to them the situation and us telling them we would repay this loan, what did they do........they took our rent money that was paid in from overseas. WOW I was shocked to see what they had done. On calling them they explained that we were never supposed to have be given the loan in the first place, so that,s why they took everything that was owing and leaving me with £9.00 to pay the rent buy food and power. They were not in the slightest bit sorry or show any compassion what so ever. Its always a fault with the system/computer!!! Where do I take this too? Does anyone have any ideas on this? NEVER EVER AGAIN

smi85

So you took out a loan, decided you didn't want to pay it and are now mad because they took what you owed from you, with the details you provided? Am I missing something?

Tixy

Unfortunayely to stop them taking payment you need to cancel the payment authority with your bank.
Its also advisable to put in writing to them that you are unable to repay in full and offer a repayment plan.

They won't know that they have taken almost all the funds you had in the account, or that you don't have funds anywhere else for priority expenses.

I don't think there is anywhere you can 'take this to'. You could try writing a letter of complaint to the payday loan company, but with you having no written evidence that you contacted them and advised them you could not afford repayments I doubt there is anything they will do.

Has what they have taken repaid all the debt? - if not then they will try to take more money out of your account hoping more has been paid in. You might want to cancel the payment authority with the bank now and then arrange to repay any outstanding balance to the payday loan company in installments.

Has this just happened? how long until you receive any income/money and are you able to manage your priority costs until then? Do you have anyone you can borrow from? anything you can sell? You could try contacting your local food bank for help and seeing if your landlord will agree for you to pay the rent slightly late.

dealer_wins

wenz58 wrote: »

Does anyone have any ideas on this? NEVER EVER AGAIN

Learn from it. Never take out another payday loan when you dont have a payday (They are best avoided even when you actually have a payday).

Moneymash

It's harsh but be glad it is all over, you could have rolled over the loan and still be paying it off well into next year.

Learn from your mistake and move on. You owed the money they have taken it, it's over. You won't get very far appealing to them, there are many threads on here each week where people have been in the same situation. You haven't been hard done by as you agreed to the terms and conditions and supplied your bank details. They weren't to know your husband was to lose his job or they were taking all your money albiet £9. Most PDL companies have aggressive techniques for retrieving money you owe them.

You need to put your efforts in to finding money to get you through the next few weeks. Get ebaying, ask family/friends to help ( with food, meter cards) explain to your landlord, is he local now that your husband isn't working could he do something as payment in kind, e.g. decorating, repair work etc.

DCFC79

If your husband isn't in work get applying for jsa and/or get looking at temp jobs.

Better_Off_1983

"On calling them they explained that we were never supposed to have be given the loan in the first place"

What you said here is the reason why I will be handing in my notice to my current job. I work in collections and I am sick to death of the excuses! I spoke to a customer who maxed out his credit card and has not made payment for 3 months, then said that he did not want it to mess up his credit rating, (the fact that I was speaking to him, in the department I work in, his credit rating is shot now anyway). He then said that he cannot keep up with his minimum payments and then offered a reduced amount and then said that he cannot even agree to that because he has other, more important debts! He then retorted with "I didnt want the credit card anyway!" I advised him, "Well, you have used the card and you have even abused it because you have gone over the limit!"

Giving someone credit these days is like giving someone a delicious buffet dinner with an orgasmic chocolate dessert, the recipient saying they did not want it, but they swallowed it quicker than Linda Lovelace beforehand!!

SMH!

opinions4u

wenz58 wrote: »

We took out a loan with Payday Express. Shortly after that my husband became unemployed.

Why didn't he get a final payday?

_Andy_

I like turtles.

plum44_2

Congratulations Better off...I hope to be joining you shortly.

Better_Off_1983

@ Plum4, do you work in collections also?