Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • Bonesy2
    • By Bonesy2 3rd Dec 19, 12:44 AM
    • 4Posts
    • 1Thanks
    Cash4UNow Mess
    • #1
    • 3rd Dec 19, 12:44 AM
    Cash4UNow Mess 3rd Dec 19 at 12:44 AM
    What a complete mess this is and I'll try to make it simple.

    Loan 500

    I had fallen behind on many loans and went in to a DMP, all agreed to freeze interest. I cleared all loans and closed the account so I thought in 06/19

    In 11/19 I note an outstanding balance from cash4u of 192 on my credit file. So I emailed them asking as I've been trying to boost my credit. Now remember I had no contact from them for 5 months. Within 3 hours I'm receiving emails demanding the 192 that's in arrears, so I ask could I set up a plan to close it and they say sure thing, provide us with an amount by the 15th, which I did. I hear nothing back for 3 days then I get a letter from them stating I owe 489 pound. So I rang and the women on the phone says, no its 192 not sure why that saying that, to close the account its 192. So I ask again can I set up a plan to which she agrees. A day before I make payment I receive a letter from BWL asking for 192 pound on behalf of Cash4UNow. I explain the situation and BWL seemed really confused and sent it back.

    I decided to write a complaint to Cash4UNow and today they responded.

    Claiming they didn't contact me for 5 months cus they thought I was with step change still, even tho that hadn't received payment.

    They then states it is 489 pound as this is the remaining interest. (so basicly whacked it up once I contacted them)

    However as a goodwill we will reduce to 350 if you accept.

    I have no plan to accept what they have offered but need to know where I stand.

    I have gone back raising points:

    I have it in writing its 192
    From BWL its 192
    And from calls

    All stating to close the account

    I stated they where trying to obtain funds directly and through a collector at the same time, which to be honest I'm not sure if legal?

    I've stated before I accept anything I will need to seek advice, from FOS and potentialy legal.

    I've stated due to the mess and the fact they have had almost all capital back.

    That they wipe the balance

    What should I do?
Page 1
    • zx81
    • By zx81 3rd Dec 19, 5:40 AM
    • 24,390 Posts
    • 27,189 Thanks
    • #2
    • 3rd Dec 19, 5:40 AM
    • #2
    • 3rd Dec 19, 5:40 AM
    In order -

    It's fine for them to contact you directly and to use other collection agencies. They're still just trying to collect the one debt.

    FOS won't get involved until you've exhausted the complaint procedure. And save your money on legal advice to out towards the debt.

    With loans, you need pay both the capital and the interest, not just the capital.

    There's no reason for them to wipe the balance.

    .you just need to establish if their figure is correct and then make arrangements to repay.
    • Davy Jones II
    • By Davy Jones II 3rd Dec 19, 6:57 AM
    • 458 Posts
    • 880 Thanks
    Davy Jones II
    • #3
    • 3rd Dec 19, 6:57 AM
    • #3
    • 3rd Dec 19, 6:57 AM
    If you can’t afford to repay your debts how are you going to afford legal advice?

    Please don’t say you’ll borrow more money, you need to break your cycle of debt, not extend it.
    • TripleH
    • By TripleH 3rd Dec 19, 7:38 AM
    • 326 Posts
    • 210 Thanks
    • #4
    • 3rd Dec 19, 7:38 AM
    • #4
    • 3rd Dec 19, 7:38 AM
    How were previous payments towards the loan made?

    Did you have to physically make the payment or was it taken by direct debit / standing order?

    If automated payment did you cancel when you thought the loan period had ended or did the company simply stop taking money?

    Above is just to explore other avenues and may help explain what has happened here.
    Wherever you go, whatever you do Richard Marx is right there waiting for you.

    Sweet dreams!
    • Bonesy2
    • By Bonesy2 3rd Dec 19, 9:41 AM
    • 4 Posts
    • 1 Thanks
    • #5
    • 3rd Dec 19, 9:41 AM
    • #5
    • 3rd Dec 19, 9:41 AM
    I won't borrow more, just wondering if there was any free advice that could be given relating to it.

    In relation to the debt collectors, Cash4UNow agreed I could set up a payment plan with them directly for the remaining 192 pound and a day before my first payment was due, I was being hounded by bwl for the same amount and Infull on behalf of them. So while agreeing a plan with me and dealing with me directly, I was also being hounded by BWL for the same debt, is that right?

    When I called them, they stated 192 to close the account, BWL stated it was 192 to close the account and when I first reached out to them about the note on my credit report, they emailed back stating its 192 to close the account and agreed to the plan.

    I understand with a loan you have to pay both capital and interest and I'm happy to pay the 192, hense the reason I reached out to them. But for them to confirm in writing and email and via debt collector and agree plans and then say actualy it's over 300, doesn't seem right.

    I've asked for supporting documentation from them and it has yet to be provided.
    • Bonesy2
    • By Bonesy2 3rd Dec 19, 11:47 AM
    • 4 Posts
    • 1 Thanks
    • #6
    • 3rd Dec 19, 11:47 AM
    • #6
    • 3rd Dec 19, 11:47 AM
    Appears what I pointed out to them, seemed to give them a scare.

    Received this responce this morning

    Good Morning ,

    Having review the Final Response Letter and your response I can see there was an error in the outstanding balance provided, it should have been 196.25 as you pointed out in our email to you.

    With this in mind, we are willing to write off the remaining balance and remove the default notice in order to expedite any complaints from yourself.

    Please confirm you are happy with this resolution by 10/12/2019.



    Customer Relations Team


    Novaloans Ltd
    • keepcalmandstayoutofdebt
    • By keepcalmandstayoutofdebt 3rd Dec 19, 1:27 PM
    • 3,890 Posts
    • 2,041 Thanks
    • #7
    • 3rd Dec 19, 1:27 PM
    • #7
    • 3rd Dec 19, 1:27 PM
    Like it, must admit had similar with a leasehold company who nearly gave me a heart attack last week trying to suggest 693 was due as opposed to the correct figure of 453 when I know perfectly well I have been on track and up to date for a couple of months now.

    Shame we have to show forbearance of their errors.
    Not leaving my 'childhood' Home without a fight
    • Bonesy2
    • By Bonesy2 3rd Dec 19, 1:59 PM
    • 4 Posts
    • 1 Thanks
    • #8
    • 3rd Dec 19, 1:59 PM
    • #8
    • 3rd Dec 19, 1:59 PM
    Completely agree, with these I just stayed calm and patient. Every time I spoke to someone I made them confirm the actual amount and each time they kept stating different amounts and kept digging a whole, then to offer a plan and at the same time have BWL chase for the amount in full, I knew they hadn't a clue and I knew they had digged to the point they couldn't get out of it.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,360Posts Today

6,843Users online

Martin's Twitter