Late payment fee on Loan

WayneB73

Hi,

I had 1 payment to make to finish a loan from peachy loans.  I emailed them last week saying I would pay soon as I have available funds to which they said they would note it on my account. They didn’t advise me of receiving any late charges as a result..

Today they have put a £15 charge on for late payment and added interest too.   Under the circumstances surround everyone at the moment I think this is a bit harsh,  am I able to challenge this or can they just do as they please?

[Deleted User]

No, obviously they can't do as they please. They can do as agreed with you in the contract.

You can ask them for a goodwill gesture. You may get lucky.

WayneB73

Thanks zx81,

from my experience when in temporary difficulties with cash flows 99% of the time they allow you time, I’m surprised considering what’s going on at the moment they’ve chosen this hardball approach, thankfully it’s my last payment..

WayneB73

If charges are being applied but I’m unable to make contact or receive replies from them but they keep applying charges what do I do?  Phone lines are closed due to the Corona our break and despite sending several emails the only time I’m getting a message is to tell my my payment is overdue and I’m being charged as a result.

[Deleted User]

You just need to make your final payment to stop the interest.  Another late fee will only apply if you slip by another month.

[Deleted User]

Unfortunately is this Peachy who have gone into administration
https://www.theguardian.com/money/2020/mar/05/payday-lender-peachy-falls-into-administration
Cash On Go Limited (in administration) – "COG" or the "Company" trading as peachy.co.uk

Adam Stephens, Gilbert Lemon and Henry Shinners of Smith & Williamson LLP were appointed as joint administrators (the "Administrators") of Cash On Go Ltd on 5 March 2020.
Cash On Go Ltd traded as peachy.co.uk in the UK and provided lending services to the UK consumer market.

Following the appointment of the Administrators:

1. There will be no new lending activity; and
2. All outstanding loans remain subject to the terms agreed with COG and borrowers should continue to make payments in the usual way according to the agreed terms and conditions.

 

WayneB73

Until I receive money I can’t pay them yet or I would have,  I know capital one have offered a 3 month holiday if needed.   Iv got work I can do but won’t get paid as offices are closed until further notice..

they have been in administration for maybe 2 months now, they went into administrative same time 247moneybox did, probably same people own both.,

John_

WayneB73 said:

Thanks zx81,

from my experience when in temporary difficulties with cash flows 99% of the time they allow you time, I’m surprised considering what’s going on at the moment they’ve chosen this hardball approach, thankfully it’s my last payment..

This means that you must have been in difficulties a great many times, so perhaps it’s no surprise that good will has now run out.