Opos claims £700 on £150 loan

rorysdad

Hi all

Had a call from Opos today regarding a loan taken out for **£150** in 2014. They said I have made some payments but then stopped and they have sent me a login to their web site which shows they are claiming on behalf of their client an 'instructed balance' of £1189 and that payments have been made of £425 leaving a balance they are now claiming from me of £700 ish.

Do I have to pay this?

What should I do? I have asked for a copy of the original agreement and the woman on the phone mumbled something about my having to pay them £18 to have that sent to me!

RD

Gaz83

Do you think there is a reason you should not have to pay it?

rorysdad

I am not disputing the original sum borrowed - more how it gets to £1100.

RD

[Deleted User]

Interest and fees, I'd imagine.

What were the terms of the loan? Sounds like it was a PDL, with a sum of £150.

Alice_Walker

rorysdad wrote: »

I am not disputing the original sum borrowed - more how it gets to £1100.

RD

Two years of non payment will accrue a hefty amount of interest and charges. Fair to assume this was a high interest loan?

Gaz83

rorysdad wrote: »

I am not disputing the original sum borrowed - more how it gets to £1100.

RD

What was the interest rate, and when did you stop making payments?

rorysdad

I am awaiting the figures from Opos - but I thought there was a case sometime back regarding payday loans where people had the loans written off because the lender had not checked their ability to repay the loan - or something similar?

RD

Gaz83

rorysdad wrote: »

I am awaiting the figures from Opos - but I thought there was a case sometime back regarding payday loans where people had the loans written off because the lender had not checked their ability to repay the loan - or something similar?

RD

It was a decision taken by some lenders to write off balances. Wonga were one of them, can't remember if there were any others.

It wasn't a legally binding decision and other lenders aren't obliged to offer the same.

K0SS

rorysdad wrote: »

Hi all

Had a call from Opos today regarding a loan taken out for **£150** in 2014. They said I have made some payments but then stopped and they have sent me a login to their web site which shows they are claiming on behalf of their client an 'instructed balance' of £1189 and that payments have been made of £425 leaving a balance they are now claiming from me of £700 ish.

Do I have to pay this?

What should I do? I have asked for a copy of the original agreement and the woman on the phone mumbled something about my having to pay them £18 to have that sent to me!

RD

Send a Prove it Letter, and make sure you state you will not accept a statement as a bill/invoice. You can also go to http://www.experian.co.uk/consumer/statutory-report.html and get your report for two quid and see what is going on. By the way don't sign up to their free trials, I don't know if they do it with their SR's but they sell your details onto DCA's they do for tracing debts.



Personally, for philosophical reasons I don't pay debt collection agencies. Unless, it's not statute barred and it's via a court order, which I vigorously challenge, if they've added exuberant costs.

P,S. This is one of the best websites and forums I have used to getting out of being chased by bottom feeder (DCA's) here is the link: http://legalbeagles.info/

Forum has very helpful members.

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Above is not legal advice, just an opinion.

rorysdad

Is there a template for a Prove It letter I can use please?

RD

Ebe_Scrooge

Not wishing to cause trouble here - but, if I understand correctly, you borrowed some money, at a high rate of interest, failed to keep up repayments, and now want to know if you can get out of repaying ?

Tell you what, is it OK if I borrow £150 off you ? I'll promise to pay you back £10,000, so you're laughing. Oh, but if I don't pay you a penny, then let's write it off shall we ? PM me, and I'll let you know my bank details so you can put the money into my account.