Speed E Loans Help :(

ClareTwomey

Hi,

I wonder whether anyone can help me or point me in the right direction.

I have an outstanding loan with Speed E Loans.

I pay each month through my debt management plan with PayPlan.

I checked my credit file the other day and noticed that for the last 3 months, my balance has not changed, so the payments have not been received.

After checking the internet I noticed that the company went into administration in June. I have since June made 3 payments to the company and should only have one more left.

I have tried to contact Speed E Loans but have seen on many forums that all staff walked out and no one is remaining at the company. This month should be my last payment to them.

How do I know where my money has gone? Do I remove them from my plan and pay no more? Does this mean the interest will go up and at some point I will have to pay a fortune?

PayPlan have said they are unable to help and cannot contact them.

I have contacted the administrators after finding who they were on the internet and I have had no response.

I don't know where to take it from here?

sourcrates

Drop them like a hot stone, if you only have one payment left to them, and they are in receivership, then stop paying and see what transpires.

happy_bunny_2

Keep a record of all Payments to them.

Don't pay anymore.

Someone may buy their portfolio then start chasing you, maybe for more than you owe. Record keeping is key here in case you need it later.

ClareTwomey

Thank you for your advice. I have contacted Payplan and asked them to remove them and they have sent me a copy of all payements.

Thanks