Peachy Repayment Plan Uncertainty

dan10107

Hello there,

I took out a payday loan with Peachy of £100, the original loan was taken out on 17/05/2013 (due date 14/06/2013).

I extended the loan on 13/06/2013 with the fee of £33 (new due date 12/07/2013).

Then I missed the payment for 8 days (extra charges and penalties were added) and Peachy were able to collect 4*£25 on 18/07/2013 and I extended my loan again on 20/07/2013 with the fee of £14.

The new due date was then on 19/08/2013 when they were only able to collect £25.

The current balance of my loan is £106.64.

Now, I contacted them on the 18th before my final due date to ask them to extend my loan, as I was unable to do so myself because I had lost my mobile phone and password so I was unable to login to peachy online as they rely heavily on mobile phone usage. They turned me down numerous times stating that I had to do it through a mobile phone and that if I supplied them with an alternative number I could use that.

But at this time I was working 6am-6pm so it was impossible for me. Therefore I asked to setup a repayment plan on the 19th, which they declined. I also told them that due to the fact that they have taken £125 from me (outline above), I had technically cleared my loan balance, but I would pay the remaining fees, but would not pay any extra default or late fees as my loan is no longer outstanding. My remaining balance with Peachy is the fees they had charged me for missing loan payments.

After numerous correspondence between me and them, on the 21st they final said that for a repayment plan to be setup I had to provide proof. I told them that no other company had asked for this and I deemed it unlawful so I would seek solicitor advice. After I told them this they finally decided to setup a repayment plan with me. But now the way in which they expect me to repay seems very odd compared to other payday loan company's. I have posted the email below.

Thank you for the e-mail.


Our credit Committee has reviewed your case and is willing to accept
your proposed repayment plan.

Please note that our Credit Committee is not keen on helping people
who threaten us especially when we have done everything possible to
sort this out.


Please set up a standing order or make us a bank transfers to cover
your debt using the following details:

Bank: Barclay's
Account name: Cash On Go Ltd;
Account number: 43882942 ;
Sort code: 200353;
Amount:

1. 23/08/2013 - £35.55
2. 30/08/2013 - £35.55
3. 06/09/2013 - £35.54

Ref: L13072093242504

Please do not forget to add the reference number!

Please note that additional charges will be added in case we do not
receive the payments on the date agreed.

Also, please notify us as soon as the payment is made and send us a
copy of a statement showing the payment has been successful.


Kind regards,
Daniel Erma
Peachy Collections Department


Should I carry out this repayment plan, and pay the fees they have charged me? What do you think of this situation, it seems odd to me.

happy_bunny_2

Seeking legal advice is not a threat, you are entitled to do so.

Make a written complaint, stating the facts clearly and anything you think they did wrong along with anything you want them to do to put it right. Send signed for.

Don't ring them, they say things on the phone they would never put in writing.

I would pay it, but still complain and try and get it back. Less likely to get extra fees added and if you lose you would have to pay them anyhow.

No joy, refer to FOS after 8 weeks. That will cost them £500 and nothing for you. So they will try and avoid that.

Paying by SO is safest for you as they can't help themselves.

Did you cancel the CPA with them and your bank? If not do so, in writing.

Has the account defaulted?