Ariste Holdings ( Cash Genie )

RuthnJasper

Marckopite wrote: »

I never took out another loan a company phoned me pretending to be a Lender and obtaining my Bank Details. That is FRAUD.

They asked for your bank details and you gave them. If someone stopped you in the street and asked for some change, would you hand them your debit card and PIN number and invite them to help themselves? Because that's essentially what you did - freely and willingly.

DCFC79

Marckopite wrote: »

I had been looking for a loan before they phoned me, But once you apply to one company your details get sent out to other lenders like wildfire. So then they phoned me pretending to be from Payday Is Everyday in order for me to apply on the website for a loan. But after they had my bank details they cleaned my account out. Looking in to it more the company who phoned me where Fredrick and sons. A debt company.

But you owe the money, a bit of an underhand tactic to use though.

iolanthe07

There is poetic justice here in that the loan company got back some of what has been owed for a couple of years, even if they got it back in a rather roundabout way. The OP tried to defraud the loan company by reneging on his 2011 contract - whether the loan company are also guilty of fraud is a moot point, I would have thought.

Apples2

Marckopite wrote: »

I had been looking for a loan before they phoned me,

Just to keep us all entertained, if you had obtained a loan, were you going to repay it?

matttye

John1993 wrote: »

I'd accept in that case someone not paying back. Someone losing their job, having their car break down, or becoming pregnant, though, are not sufficient reasons to not pay back.

On the job issue, for example, if you would not be entitled to a few months' redundancy pay, then I don't think that you should take out a loan.

I used to be in a low paid job, low paid enough that some days I would have had to go hungry if I didn't take out a loan. Faced with that choice, I went hungry. It would never have occurred to me to buy a drink, go on holiday, smoke a cigarette, or yes, even eat more than the very least needed to survive, if I did not have the money to do so.

Going hungry yourself is fine, but what if your family also had to go hungry?

I see where you're coming from and a lot of people just borrow irresponsibly when they're not in steady jobs, or have the wrong attitude to work and get sacked etc. They shouldn't borrow.

However, there are sometimes genuine reasons why someone might borrow money and then not be able to pay it back. It's not for us to judge. We should stick to the legalities of what has been done. I still think they're massively in breach of OFT guidance and the OP would have a fair chance of getting the money back.

John1993_2

matttye wrote: »

Going hungry yourself is fine, but what if your family also had to go hungry?

I held off having a family until I was in a situation to afford one, just like I held off having a car until I could pay cash for one, held off going on holiday until I could afford to buy one outright, held off having luxuries until I'd saved up an emergency fund, and so on.

In fact, I spent years holding off on the luxuries, the treats, the "extras" such as television (not sky, a television) and so on, as I was putting in the ground work for a much more succesful future. This means that in my 20s I was surviving on £6,000 per year in Geneva writing up my doctorate, while friends from college bought cars and flew round the world. It's why I worked in the evenings at school when friends played tennis, and why I lay in the snow repairing a ten-year old motorbike on a winter's night to get me to my job the next day when others would have called in sick.

As a result of this, I got to where I was trying to get, earning a banker's salary as a desk-head in an investment bank. I could at any point before now have chosen to live a nicer life with credit, but never did so.

I don't think it is judgemental to suggest to others that they'd likely end up far happpier if they did the same. Yes, they don't now have the option to follow my path, the decisions that they made in years and decades past mean that that can't happen, but if they decide to forego the iPhone now, not buy the cigarettes, have that extra night in, and get an emergency fund together however they can, and so avoid needing the payday loan in the first place, then they can still improve their future immeasureably.

It's horrible to see SOAs posted with £60/month mobile phone bills, sky TV, and £5,000 of high interest loans, and I genuinely can't work out why people do this to themselves.

IainHL

Enfieldian wrote: »

Yes, but the OP's debt is now paid and he can feel better about himself.

krisdorey wrote: »

.
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As mentioned at least the debt is repaid now so thats one less debt for the OP to worry about. The fact that the OP thought taking out another PDL when they had defaulted on one previously and still had monies outstanding is what the OP need to address.

You are both being a bit presumptious in stating that the debt is now repaid. The PDL took some money (£120) from the OP, and all we can presume is that he now has less of a debt with them. From the fact they took up to 4 payments it seems they were working down the value tree until they couldn't take any more money from the OP's account. That will not necessarily have paid off the entire debt.

matttye

John1993 wrote: »

I held off having a family until I was in a situation to afford one, just like I held off having a car until I could pay cash for one, held off going on holiday until I could afford to buy one outright, held off having luxuries until I'd saved up an emergency fund, and so on.

In fact, I spent years holding off on the luxuries, the treats, the "extras" such as television (not sky, a television) and so on, as I was putting in the ground work for a much more succesful future. This means that in my 20s I was surviving on £6,000 per year in Geneva writing up my doctorate, while friends from college bought cars and flew round the world. It's why I worked in the evenings at school when friends played tennis, and why I lay in the snow repairing a ten-year old motorbike on a winter's night to get me to my job the next day when others would have called in sick.

As a result of this, I got to where I was trying to get, earning a banker's salary as a desk-head in an investment bank. I could at any point before now have chosen to live a nicer life with credit, but never did so.

I don't think it is judgemental to suggest to others that they'd likely end up far happpier if they did the same. Yes, they don't now have the option to follow my path, the decisions that they made in years and decades past mean that that can't happen, but if they decide to forego the iPhone now, not buy the cigarettes, have that extra night in, and get an emergency fund together however they can, and so avoid needing the payday loan in the first place, then they can still improve their future immeasureably.

It's horrible to see SOAs posted with £60/month mobile phone bills, sky TV, and £5,000 of high interest loans, and I genuinely can't work out why people do this to themselves.

The judgemental part is assuming that they took out debt with no intention to pay it back. Many people would say they didn't have a choice.

It's great that you've made a nice life for yourself, but one life is vastly different to the next.

As I said: why not just stick to the legalities rather than venturing into opinion and why they got into debt? The why is irrelevant when discussing whether the way the DCA/creditor is collecting is illegal.

DevCoder

Conversely obtaining credit with no intention of paying for it is considered fraud.

The collection method is borderline against best practise and recommendations, this does not mean it is illegal. In fact a company could violate FCA (FSA) best practises and not come under any fire.

The best advice is for the OP to forget about any further PDL's and restructure their spending as it is obviously not "within means" otherwise this 1 default and 1 missed possible default will just spiral into a PDL nightmare where the OP will keep taking out more and more PDL's to pay off existing borrowing.

The DFW board is probably the best place for the OP.

Duke203

matttye wrote: »

why not just stick to the legalities rather than venturing into opinion and why they got into debt? .

Do these legalities include completing one's part of a contract?

My opinion, as it was mentioned, is that it is excellent that someone paid off a debt. It's a sound night's sleep knowing that you are not in debt, and I hope the OP enjoys theirs. Well done to the OP in taking their first step towards financial freedom