Payday Loan for 17 year old

cosmeticjunkie

Thanks for all the replies.

It would seem that DD entered an on-line competition and gave all her details and ticked a box to say she was over 18. I'm guessing that's where the cold call came from.

She says she gave the PD loan company her correct DOB and that seems to be the case as it's printed on the letter from the collection company.

I find it incredible that a company can transfer money to your bank account without you providing any form of ID and I think that these companies have a duty to make sure the person they are lending to is over 18.

DD was very frightened by the letters and phone calls she's been getting from this debt collection company, luckily she came to me eventually but I dread to think what may have happened to her if she hadn't.

I have phoned them and told them that as far as I'm concerned they should never have lent to her. I also said that they should not send any more letters or make any more phone calls to her otherwise I would be contacting the authorities and if they wanted to pursue the matter then they should issue a court summons and ask a judge to decide.

I'm hoping that that's the end of it

sharp82

I'd put the above to them in writing too, sent recorded

Enfieldian

Will you or she be paying back the £80 originally borrowed or are you happy to steal from this company?

jonesMUFCforever

Whether OP 's child put her real age or falsified it - in law it makes no difference - the law is clear a minor cannot enter into a legally binding contract unless it is ''necessary''.
If the lender did not carry out sufficient checks then tough - the debt is unenforceable and cannot be put on their credit files.

matttye

Enfieldian wrote: »

Will you or she be paying back the £80 originally borrowed or are you happy to steal from this company?

I have to say I'm finding it really hard to find any sympathy for a PDL company.

They prey on the weak all the time and fail to make appropriate checks; deserve what they get!

cgk1

What rip-off? they had the DOB as evidenced into the letter provided to the 'customer' - if they want to lend money on the basis of contracts that are not legally enforceable - more fool them...

matttye

copperlight wrote: »

So you don't think she should at least pay back what she borrowed? Yes, refuse the added charges but the original £80..what happens to that?

PDL Co's charge extortionate amounts of interest to people who are desperate for cash (which is evidenced by the very nature of payday loans).

I've read countless times about them emptying people's bank accounts even after agreeing a repayment plan, ignoring all requests for a repayment plan and then emptying people's accounts, and countless other despicable acts.

Normally I'd say 'yes, she should pay it back,' but with these clowns, who I strongly and wholeheartedly feel shouldn't be trading, I really couldn't care less. They deserve to lose out!

cgk1

copperlight wrote: »

So you don't think she should at least pay back what she borrowed? Yes, refuse the added charges but the original £80..what happens to that?

She spends it? you suggest she is doing something unlawful - what is it?

JuicyJesus

matttye wrote: »

Normally I'd say 'yes, she should pay it back,' but with these clowns, who I strongly and wholeheartedly feel shouldn't be trading, I really couldn't care less. They deserve to lose out!

In fairness £80 is a drop in the bucket compared to the amount of money they lose on never-pays.

Their default rates are utterly insane, something like 50%.

matttye

JuicyJesus wrote: »

In fairness £80 is a drop in the bucket compared to the amount of money they lose on never-pays.

Their default rates are utterly insane, something like 50%.

That's because they are irresponsible lenders.

A short term loan aimed at people who run out of money during the month. That is the most awful idea I've ever heard