Opos Limited - old mini credit account

Jeff_winter

Hi,
I am after some help.
I was in some financial difficulty some 2 years ago and took out a loan with mini credit.

They went bust and passed my account to opos limited.

The amount was for £200, and they passed across with interest and fees etc. for £525.

I recently emailed Opos limited for a copy of the original agreement and any correspondence they have.

They provided me with a contract looks to have been signed with a pin, but no signature from myself or even them.

They do not have a copy of the default notice raised by mini credit and mini credit have not filed anything on my credit file.

Does anyone have any advise on what to do?

Jeff_winter

They have just sent me though a breakdown of the amount o/s

Original loan plus interest - £265 ??
60 further days interest - £156 ??
Charge - £40 ??
Debt services - £50 ??

Any comments or help would be appreciated

National_Debtline

If you took out the agreement online there may not be an agreement with your signature as you normally tick a box to say that you are agreeing to the terms and conditions. You could make a Subject Access Request for more details if you have concerns about the debt – this is a formal request for any information they hold (please be aware it will cost £10).

Based on the information they provide you can decide whether you need to dispute the balance or set up a payment plan. You may find our factsheet helpful - https://www.nationaldebtline.org/EW/factsheets/Pages/41 EW Payday loans/Default.aspx#

Laura
@natdebtline

Jeff_winter

Hi Nat,

Thanks for the reply, The lender has been shut down for irregularities and a DCA (opos limited) are chasing me.

They can not provide me with a default notice and the credit agreement has not been signed by Minicredit, I believe according to the CCA regs 1974 a credit agreement is only enforceable if it has been signed by both parties.

What are your thoughts?

sourcrates

Hi,


Different rules apply if you take out a credit agreement online, trying to prove irregularities with credit agreements can be a minefield and ultimately only be decided in court.


The FOS cant determine cases from a legal point of view either, only if you were treated fairly or not.


New rules now mean you cant be expected to pay back more than twice what was borrowed, although it cant be applied retrospectively, that may be the angle you should pursue, on the grounds of fairness, you should also pursue the matter of no default notice as well.

Jeff_winter

Hi Sourcrates,
how would you go about dealing with this?
Any help would be appreciated.

sourcrates

Jeff_winter wrote: »

Hi Sourcrates,
how would you go about dealing with this?
Any help would be appreciated.

Offer them the original £200 quid to settle, lots of people have had success with this, although not had experience with this company personally.


Say the charges and interest are excessive, and you wont pay them, see how that goes.

Jeff_winter

Hi,
i have offered opos the £200 plus a months interest as advised, they have rejected. I have already paid £137, so I suggested a repayment of £63 of original balance plus £40 interest.

They originally came back and suggested I Pay £400 to clear the account, and after some negotiation they offered £200.

I refused.

Can anyone suggest what to do next?

They haven't got the default notice as mincredit have gone bust, the original debt was never placed on my credit file, the CC agreement only has a digit as a signature from me but no signature from themselves. It's a right pickle and I want it sorted but I am not willing to pay the excessive charges they are requesting.

I have told them I wont be paying any more towards the debt.

[Deleted User]

£200 + £137 seems fair to me as original deal was £265+£156,i think you are barking up the wrong tree chasing signatures