"Pounds to Pocket" opinions appreciated

debbymcc Posts: 20 Forumite
Below is a transcript of my chat yesterday morning with Pounds to Pocket. Since then I have 4 voicemessages offering me more borrowing.

Hello! Thank you for choosing Pounds To Pocket, the UK’strusted online lender. A representative will respond to you shortly. If youwould prefer, please ring us at 0800 635 0841 or email us [EMAIL="atsupport@poundstopocket.co.uk"]atsupport@poundstopocket.co.uk[/EMAIL]
You are now chatting with Terrie.

Terrie: Thank you for contacting Pounds to Pocket, the homeof Free Same Day Funding. I'd be happy to assist you with any questions youhave. Before we start, can you please verify your telephone number, first name,surname and year of birth please?

Deborah **********

Deborah ***********

Terrie: Thank you Deborah, I am happy to help you.

Deborah how much would it cost to pay off my loantoday

Terrie: If you repaid the loan today it would be £437.50.

Terrie: Are you wanting to complete the payment at thistime?

Deborah: I asked about 3 weeks ago before last paymentwent out and it was less, approx 390 then I thought.

Terrie: That would be correct. Your interest accrues dailyso the loan payoff will change daily.

Deborah: how is it calculated?

Terrie: If you are logged in, the details of your monthlypayment are lisrted on the loan contract. Your payment schedule is in detailfor what the payment is monthly.

Terrie: Are you still wanting to complete the payment orwould you like to look over the details and contact us back? We are here 24/7to assist you.

Deborah: its just more than i expected, i wanted topay it off early

Terrie: I understand.

Terrie: What would you like to do at this time?

Deborah: id like to pay it off

Terrie: Please hold one moment while I access your account.

Deborah: ok

Terrie: Thank you for holding. Recorded payoff payment of£437.50 on 04/05/2013 via debit_card for Loan # ####

Terrie: Your loan is paid in full.

Terrie: Is there anything else I can help you with today?

Deborah: arrgh i needed to pay it with a diffrent card

Terrie: I am sorry, the payment has completed at this time.

Deborah: theres isnt enought in that account to lastthe month

Deborah: please can you refund that back and i am ableto pay with a different card

Terrie: I am so sorry, I am not able to reverse the payment.

Deborah: seriously i have direct debits due out ofthat account that will not be met.

Terrie: Are you able to transfer funds from the one accountot the other one?

Deborah: not without it costing. I needed to pay it ona credit card. why did you not confirm the account with me?

Deborah : please can you refund this.

Terrie: All payments are taken with the card on file.

Terrie: I am sorry, also, we do not accept credit cardpayments.

Deborah: why didnt you ask me?

Terrie: We would not have been able to use the other card.

Deborah : I am appalled why didnt you confirm thepayment card details with me? then i would have said no not from my debit card,and you would have told me you didnt take credit cards and i would have made aninformed decision to not pay it off early

Terrie: I am sorry, but the card you listed on the accountwill always be the card used for payment unless you request to change it. We donot allow credit card payments as you cannot pay credit with credit. I am sorryfor any confusion.

Terrie: Would you at this time like to request a new loanDeborah, will that assist you?

Deborah: any card payment is confirmed "do youwant to use the card ending? or you tell me that it is being taken from theregistered debit card

Terrie: Your credit limit is £1150.00.

Terrie: That would allow you to place the funds back intothe account and allow you more time to pay it off.

Deborah: you are joking! i needed to pay this offearly, now i have zero money, you have ruined my life and you think i want toborrow more?

Terrie: If you request the funds, I can add a discount toyour first payment for you.

Terrie: Deborah, I apologize for any misunderstanding, but,you mentioned you have debits coming out of this account.

Deborah: i want the money taken refunded and tocontinue with the direct debit set up.

Terrie: You do not have to request the same amount as youdid before only what is needed to replace the debits coming out.

Terrie: Deborah, I am sorry, your loan is now showing paidoff. I cannot reverse a paid loan

Terrie: You can request a new loan, and I can as a courtesygive you a discount on the first payment.

Deborah: stop hassling me to borrow more!!! i cannotafford it
It has plunged me into misery. My current account will get charges and direct debit refusal will incur penalties etc. I have a small available balance on a Luma card so was considering paying it this way


  • Tenyearstogo
    Tenyearstogo Posts: 692 Forumite
    debbymcc wrote: »

    Terrie: All payments are taken with the card on file.

    Terrie: I am sorry, but the card you listed on the accountwill always be the card used for payment unless you request to change it. .

    Deborah: any card payment is confirmed "do youwant to use the card ending? or you tell me that it is being taken from theregistered debit card

    What does your contract say about paying it off with cards on file.
  • debbymcc
    debbymcc Posts: 20 Forumite
    I have read the entire contract and cannot see any reference to how its paid. Obviously i set up a direct debit to make monthly repayments as agreed from my current account. I have never given them or been asked for my 3 digit security number or had any expiry date etc questions.

    Right to Settle Early:
    You have the right to repay the Loan Amount in part or in full before the end of the Term. If you wish to repay the Loan Amount in part then your Loan Amount shall be reduced by an amount equal to the sum of the amount paid and any rebate allowable. If you wish to settle the Loan Amount in full then the total amount that you will need to pay in order to do so is calculated under a formula which depends on the time at which you choose to do this. By making a payment towards settling the Loan Amount early, you will limit the amount of the interest you are required to pay under this Loan Agreement.
  • Tenyearstogo
    Tenyearstogo Posts: 692 Forumite
    Have they just got your bank details or have they got you card details too?
  • debbymcc
    debbymcc Posts: 20 Forumite
    Thankyou so much for your interest
    All the payments have been by direct debit. I do not recall when i first applied, 10 months ago whether or not they asked for my card details to authorise initial set up. In any event I have had my debit card replaced since then and definately have not given my current card details. If she had said she was taking from that card I would have asked more questions
  • Apples2
    Apples2 Posts: 6,442 Forumite
    Sorry debs but you've been completely foolish here.

    You rang them without thinking through or explaining what you were trying to do ( which isn't allowed anyway)
    Now its all their fault for " ruining your life"

    They have offered you a small loan putting you back where you were before you started this fiasco, better maybe as there is some kind of discount involved.

    You never could pay this off in the first place, this is all self inflicted.

    You said you can balance transfer at a cost so do that, not dribs and drabs, enough to cover your direct debits or simply use the card for your spending instead of emptying your account.

    Get some help with your spending in the dfw board.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Name Dropper First Anniversary Combo Breaker First Post
    edited 5 May 2013 at 9:35AM
    Looking at your conversation, it does seem a bit naughty that they don't confirm exactly how and with what you are making the repayment.

    Whilst I feel for you, it's the type of Company that you are using. I always expect this sort of thing from people like this and you should too.

    It's clear that if she has confirmed the payment has gone through and the loan account closed, one of your cards must have worked, either way they must have a valid card attached to your account.

    I don't think she was pushy in respect of the offer to lend more. I think she was trying to help because you had stated this, that and the other.

    I can't understand what issue a new loan would be? Would it have cost you more money?

    Looking at what she said and thinking about lots of other financial businesses,it's probably the case that when accounts are paid and closed, they are paid and closed.

    And what do I think of them - well I can't write it here, but I think they are the lowest of the lowest. I would never borrow from them I'd rather live on the street.

    So right now, confirm what are you looking to do? Compensation? or do you need the money back to satisfy your direct debits?
  • debbymcc
    debbymcc Posts: 20 Forumite
    Thanks Apples2
  • debbymcc
    debbymcc Posts: 20 Forumite
    I borrowed it to pay for my mums funeral and to contribute to headstone on her and my dads grave. The monthly repayments have just about been manageable but I am trying to improve my situation and was attempting to take control of things. I expected more of a conversation when she said she was accessing my account. Happy to accept Iam a just stupid. Dont want compensation or anything for nothing. I will sort it out. Just wanted opinions for which I am grateful.
  • [Deleted User]
    Not a nice situation clearly.

    Just think complaints = compensation = less of your mess.

    Sometimes wanting something for nothing helps a lot.

    My complaints have probably made me in excess of 2K in the last couple of years.
  • TheFactory
    TheFactory Posts: 110 Forumite
    It looks like your only way out of this is to take her up on her offer and pay your DD, then instead of trying to pay it off in one go look at how much you can pay off/save per month REALISTICALLY and then do that.

    I don't think she was doing anything wrong, she prehaps should of confirmed what account it was coming out of first but because I have never used one of these I don't know how they normally operate.

    My advice to you is pay it back sensibly and then look at how you got to where you are now and look at ways of making sure you never have to lend from one of these sharks again.
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