Payday Loans and charges

[jon1965]

Hi again guys, another question

Am just about to take my DMP back "inhouse" and want to get full statements from the payday loan companies. I understand that a CCA request for £1 is enough to get that, is that right?. So it would be details of the loan, interest , charges and payments which I guess would include rollovers.
Also i understand that automatic rollovers are against guidelines.....so do I have any comeback on that?

P.S I am also posting on the CAG forum to get the greatest chance of a "hit" but I have to say...I love you people so much more Thanks

[jon1965]

Re: CCA or SAR

Probably a hit in the face but hey ho. I have never understood this one month interest bit and no one has ever been able or willing to explain it to me. When I wrote to Wonga they told me that it would cost £10 but when I told then to stuff it they gave me my balance. So do I just need to ask them for a statement of account and no fee.I am then going to send them a £0 offer and a few months in a request to write off as i am not earning.
P.s I am posting here first and doing the copy n paste bit to the others

[jon1965]

Payday Loans and charges

Hi again
As you know i am just starting the long road of self debt management. Up till now I have been paying £1 token to all creditors. However I have redone my I&E and am in deficit even without paying anybody off. If I write to the paydayloans asking for a 6 month break do you think they will start banging on charges and interest again and if so are they legal?
Ta
Jon

[BBoo]

Re: Payday Loans and charges

I am very happy to be corrected here, but personally I'd tell them where to stick their payments until you can afford them. If they add charges and interest do the right things interms of informing them you cannot afford repayments etc... to build a paper trail. Once you can pay, pay them what you agreed to repay and not one penny more. I wonder if they'd take you to court, I have my doubts.

[SXGuy]

Re: Payday Loans and charges

Be strong with these people, because even with an I & E showing a negitive amount, they still bang on about being paid, they dont care where it comes from.

So stay strong and stand your ground.

[CleverClogs (RIP)]

Re: Payday Loans and charges

As you know i am just starting the long road of self debt management. Up till now I have been paying £1 token to all creditors. However I have redone my I&E and am in deficit even without paying anybody off. If I write to the paydayloans asking for a 6 month break do you think they will start banging on charges and interest again

Quite probably.

and if so are they legal?

Quite probably not, but why should they care?

It's not as though anyone will do anything about their antics, is it?

[CleverClogs (RIP)]

Re: Payday Loans and charges

Be strong with these people, because even with an I & E showing a negitive amount, they still bang on about being paid, they dont care where it comes from.

Or, to put it another way, they make Shylock seem like a philanthropist.

[jon1965]

Re: CCA or SAR

Sorry but i do not understand why a CCA request is not appropriate and do I just write to them asking for a statement of account. If I do are they obliged to provide one. Which bit of the CCA govern PDL's?

Are you sending a CCA request to PDL companies? That route is not applicable to them, all you need from them is statements of account, neither a SAR nor a CCA request.

What sort of a 'hit' are you expecting to get from CAG? They'll say all you owe them is the original loan amount plus one month's interest... I used to be there...

Not a problem if you want to post on another forum but if you want us to answer your questions you'll have to re-post them here (copy'n'paste). Many of us are banned from CAG!

[Never-In-Doubt]

Re: Payday Loans - statements of account

A PDL is under s.77 CCA(1974) however a cca will only provide a print out of the same form you got via email when you got the loan. You usually see it and type your name in which confirms the electronic signature.

A statement may cost you, PDL's are pretty vile at the best and if it's wongo then you're screwed - they'll lie, cheat and even say "we don't use paper or printers"

Why don't you send an email and do the obvious, ask what your balance is?

[jon1965]

Re: Payday Loans - statements of account

Thanks, I did get a balance from Wonga. My problem s that I did the head in the sand bit and this has been going on so long, I can not remember how much the latest loan was for and thus what charges they have applied. I do however have a list of all payments made. I think that intime I may be get hold of more info when I arrange to meet the guy who was doing the DMP for me.

[jon1965]

Quick Quid

In December I sent an email to QQ asking to confirm my balance and also to confirm if my debt had been sold on. I had a reply stating that "In response to your correspondence, our records indicate the account was not sold to a third party and the account is closed"

I had however been receiving letters from MacKenzie hall.
I have now emailed both saying that as it is closed I will not be making any more payments and please return any payments paid since the date of the letter.
I await with interest the reply

[jon1965]

Wonga

After spending the weekend going through all my old bank statements I finally found the payment from Wonga. It was for £100.
The last balance I had from them was over 300 even though I have paid c.£30 so I sent them this

Thank you for your reply, I do however require a statement of account. You have previously stated that this will cost me £10 however this is an error. If necessary i will send you a CCA request which amongst other things provides for a statement of account. I would suggest however that it would be easier and cheaper to just to send a statement.
In addition I have taken my DMP back and will be dealing with it myself from now on. All communication needs to be in either writing or by email. Any telephone calls will be ignored , logged and possibly used in a harassment complaint.

Lets wait and see

[Never-In-Doubt]

Re: Wonga

After spending the weekend going through all my old bank statements I finally found the payment from Wonga. It was for £100.
The last balance I had from them was over 300 even though I have paid c.£30 so I sent them this

Thank you for your reply, I do however require a statement of account. You have previously stated that this will cost me £10 however this is an error. If necessary i will send you a CCA request which amongst other things provides for a statement of account. I would suggest however that it would be easier and cheaper to just to send a statement.
In addition I have taken my DMP back and will be dealing with it myself from now on. All communication needs to be in either writing or by email. Any telephone calls will be ignored , logged and possibly used in a harassment complaint.

Lets wait and see

Best of luck, keep us updated..... wonga are notoriously difficult and do think the normal OFT Guidelines on debt collection don't apply to them so be prepared for some (ok a lot of) bull shyte

[Never-In-Doubt]

Re: Payday Loans and charges

I have merged the previous 3 payday loan threads into this one thread as they are all linked questions, albeit for varying firms.

Please keep all PD stuff here in the same thread as it's easier for others to follow.

Thanks

[jon1965]

Re: Wonga

They have replied asking me to call their "friendly team" . I have replied reiterating that I will not discuss this over the phone , I need a statement as I dispute the charges and I am classing the account as in dispute. Any suggestions as what I should do next?My idea is to write recorded with a cca request as I believe that they must include a statement of account and include a statement of affairs as well as a request for a 6 month suspension of payments.

Best of luck, keep us updated..... wonga are notoriously difficult and do think the normal OFT Guidelines on debt collection don't apply to them so be prepared for some (ok a lot of) bull shyte