Dealing with Payday Loans

marilyna

Another notice of Default from Pounds to Pocket, slightly different to the other one that they sent

This notice is being sent to you as required by the Consumer Credit Act 1974 because you are behind with the sums payable under your loan agreement.

Please review the Office of Fair Trading Arrears publication that describes your rights and responsibilities

Loan ID
Funding date 6/7/13
Loan amount £1,146.66
Opening balance £1,079.38

Two or more installment payments under the above loan from Pounds to Pocket are overdue. Because of these overdue payments, your customer status has been changed to "In Default."

Below is the list of installment payments which are overdue

28th August 2013 £177.23
25th September 2013 £177.23
Total £354.46

As a result of your returned debits on the payment dates above, we have assessed £24 in Dishonour Fees. This amount is also now due. You will receive separate notices in relation to these Late Fees.

No further fees or interest are accruing on these amounts.

Total current outstanding balance of the loan £378.46

marilyna

Default notice from Speedloan

This Default notice is served under section 87 (1) of the consumer credit act 1974

Speedloan Personal Loan Agreement

Original Loan £800
Balance £825.07
Arrears £112

Description of Breach

You have breached terms of Agreement on your original application form in that you have failed to make the necessary repayments. The breach is capable of remedy if you make a payment as requested for the full arrears outstanding. This action must be taken by Thursday 17th October 2013.

No further action will be taken in respect of the breach if the matter is resolved before the date shown . If you do not take the action required by this notice before the date shown, then further action may be taken against you.

Action to be taken if breach not remedied

1. We will terminate the Agreement by demanding immediate repayment of the monies due being £825.07 plus any interest due.

2. If necessary the debt will be referred to our Legal team to take Court action to enforce the above points.

IF YOU HAVE DIFFICULTY PAYING ANY SUM OWING UNDER THE AGREEMENT OR TAKING ANY OTHER ACTION REQUIRED BY THIS NOTICE, YOU CAN APPLY TO THE COURT WHICH MAY MAKE AN ORDER ALLOWING YOU MORE TIME.

IF YOU ARE NOT SURE WHAT TO DO, YOU SHOULD GET HELP AS SOON AS POSSIBLE FOR EXAMPLE YOU SHOULD CONTACT A SOLICITOR OR OBTAIN FREE IMPARTIAL HELP FROM YOU LOCAL TRADING STANDARDS DEPARTMENT OR NEAREST CITIZENS ADVICE BUREAU.

IF YOU HAVE DIFFICULTY IN PAYING THE SUM OWING UNDER THE AGREEMENT OR TAKING ANY OTHER ACTION REQUIRED BY THIS NOTICE YOU SHOULD CONTACE THIS OFFICE ON 08444480528

This notice should include a copy of the current Office of Fair Trading information sheet on default. This contains important information about your rights and where to go for support and advice. If it is not included , you should contact us to get one.

Yours sincerely

Andrew Shuttlewood
Speedloan Finance Ltd

thick_tom

i wouldnt have anything to do with payday loans whatsoever.

sexyshark

Have you heard anything from pounds to pocket yet


I am still waiting

sexyshark

Have you heard anything from pounds to pocket yet


I am still waiting

marilyna

Yes, got another notice of arrears from them at the weekend.

beccibaxter_2

marilyna wrote: »

I have 7 Payday loans.

1. Pounds to Pocket
2. PaydayUK
3. Swiftsterling
4. Mr Lender
5. Quickquid
6. Moneyshop
7. Speedloan

I decided to get on top of things, when one of my PDL's did not reloan this month. It is sobering realising how long I have had some of these PDL's and how much money I have thrown away. I have never defaulted on any of the loans, but now have to, to get my life on track. The end of every month was a constant juggle, and most of the time I paid all my PDL's back in full, then reloaned. A few of them I would roll over. Have written to most explaining my situation, defaulted on two yesterday, and am waiting for them to contact me.

PaydayUK and Pounds to Pocket have come back to me with proposals. Pounds to Pocket have said they will not accept standing orders or giro slips. I will not give them my debit card details.

Swift sterling, won't discuss anything in writing at the moment, and I won't speak to them on the phone.

Have any of you had any success with any of these companies?

Did they freeze interest when you paid them back?

I sent swift sterling an email stating my circumstances and why I was unable to pay in full and then I added the following:

"I offer to pay £20 per month by standing order to swift sterlings bank details ( i obtained them via the consumer action group), commencing the 26th of September 2013 with payments continuing until the loan amount of £649 and the default fee of £59 (total amount £708) is paid in full, in accordance with my loan agreement.
I will not speak to debt collection agencies either on my doorstep, over the telephone or by email or text as my debt is with swift sterling and not a debt agency.
I request all communications with yourselves be via email only. Phone calls will not be taken as I have had to have my phone removed as I simply can not now afford to have it.
I will be keeping copies of all emails sent and received as proof of my proposal to pay in the event of swift sterling taking me to court for not payment.
Please note, I have changed my bank account so the continuous card payment is no longer valid nor will you be able to access the account.
I trust my proposal is acceptable however if you require further information, please email me at:blahblah@blah.co.uk"


they emailed me back to say this was fine and they were sorry to hear about my situation!

I now deal with all companies I owe money to in this way and it seems to be working. the only company that have been difficult are Lowell.

marilyna

beccibaxter wrote: »

I sent swift sterling an email stating my circumstances and why I was unable to pay in full and then I added the following:

"I offer to pay £20 per month by standing order to swift sterlings bank details ( i obtained them via the consumer action group), commencing the 26th of September 2013 with payments continuing until the loan amount of £649 and the default fee of £59 (total amount £708) is paid in full, in accordance with my loan agreement.
I will not speak to debt collection agencies either on my doorstep, over the telephone or by email or text as my debt is with swift sterling and not a debt agency.
I request all communications with yourselves be via email only. Phone calls will not be taken as I have had to have my phone removed as I simply can not now afford to have it.
I will be keeping copies of all emails sent and received as proof of my proposal to pay in the event of swift sterling taking me to court for not payment.
Please note, I have changed my bank account so the continuous card payment is no longer valid nor will you be able to access the account.
I trust my proposal is acceptable however if you require further information, please email me at:blahblah@blah.co.uk"


they emailed me back to say this was fine and they were sorry to hear about my situation!

I now deal with all companies I owe money to in this way and it seems to be working. the only company that have been difficult are Lowell.

I sent Swift Sterling a similar email stating my circumstances, and what I could afford, when I defaulted. They insisted on speaking to me, and would not discuss the issue via email. I made it clear, I would only communicate via email.

In the end I had to send them a telephone harassment letter. In your case I guess they had no option, as you said your phone had been removed.

Have not heard from them since.

sexyshark

marilyna wrote: »

I sent Swift Sterling a similar email stating my circumstances, and what I could afford, when I defaulted. They insisted on speaking to me, and would not discuss the issue via email. I made it clear, I would only communicate via email.

In the end I had to send them a telephone harassment letter. In your case I guess they had no option, as you said your phone had been removed.

Have not heard from them since.

have they passed it onto a DCA yet

marilyna

sexyshark wrote: »

have they passed it onto a DCA yet

No, not yet. They keep on sending out notices of arrears, and defaults though.