Cecilia PDL diary

[cecilia]

Re: Cecilia PDL diary

Speedloan was converted into a loan in June, and Moneyshop in August. Correct, they got me to sign fresh paperwork. The Moneyshop figures were £750 loan with payments of £125 over six months.

I don't have the Speedloan paperwork to hand right now, will find it, but the payments each month were £112 and it was less than a year. Loan approximately £800, owe approximately £1400 including interest.

I did not think I could challenge a CCA because I had signed new paperwork. They have now put everyone who was cashing cheques on these loans.

Yes, I am working. No I don't own, I rent. I am offering one, £18 a month, and the other £20.The figures are based on work based income.

[cecilia]

Re: Cecilia PDL diary

We need to establish whether you signed anything before they sent you these replayment plan letters. Did they just change it over, or did they make you sign something?

Yes, I signed agreements with both of them, when I started cashing cheques many years ago. I was given new paperwork to sign in June, and August.

[SXGuy]

Re: Cecilia PDL diary

Ok so Requesting a CCA from these might not do much as you have signed new loan agreements. Someone else will need to advise the next step.

[cecilia]

Re: Cecilia PDL diary

Thank you anyway,

[vint1954]

Re: Cecilia PDL diary

Jesus H Christ.... cancel those cards immediately!

You must do this cecilia. All continuous payment authorities must be cancelled or they will just take it

[cecilia]

Re: Cecilia PDL diary

Don't worry, I cancelled them at the beginning of the week information about that experience on this thread

http://forums.all-about-debt.co.uk/s...ication-please

[PriorityOne]

Re: Cecilia PDL diary

Speedloan was converted into a loan in June, and Moneyshop in August. Correct, they got me to sign fresh paperwork. The Moneyshop figures were £750 loan with payments of £125 over six months.

I don't have the Speedloan paperwork to hand right now, will find it, but the payments each month were £112 and it was less than a year. Can't remember the total of the top of my head but will get it.

I did not think I could challenge a CCA because I had signed new paperwork. They have now put everyone who was cashing cheques on these loans.

Yes, I am working. No I don't own, I rent. I am offering one, £18 a month, and the other £20.The figures are based on work based income.

Ok.... no point looking backwards with this; we need to move on and find a way forward now.

There are two ways you can go:

1). You pay nothing more to anyone and wait for the accounts to be flogged on to debt collectors and then use the CCA route (as well as other avenues) to challenge them. This route is not for everyone as it's a gamble of sorts re. them taking legal action..... but as the debts are minor, the likelihood of anyone issuing court papers is small, as already said. They will however try all kinds of tricks to get you on the phone to scare the beJesus out of you in the meantime, as you are already experiencing, it seems. As you don't own property however, there's no real long-term risk (in my opinion) but others might disagree.

2). The other option is to make token payments (providing all interest/charges are frozen) until such times as they get fed up collecting and either sell the debt or, mention the possibility of settling. In my experience, they normally go for the former unless you approach them with a F&F settlement figure yourself later on, which leads to the outcome in Option 1 anyway. The downside of making token payments however is that it lengthens the whole process and keeps the debt alive for longer....

The amounts you are offering each month.... are they amounts you can realistically afford? If not, they need to be dropped down further if you go with Option 2.

Personally, I would go with Option 1 but that's only because I'm a bit of a bugger with these kind of people and like to p*ss them off....

[cecilia]

Re: Cecilia PDL diary

Ok.... no point looking backwards with this; we need to move on and find a way forward now.

There are two ways you can go:

1). You pay nothing more to anyone and wait for the accounts to be flogged on to debt collectors and then use the CCA route (as well as other avenues) to challenge them. This route is not for everyone as it's a gamble of sorts re. them taking legal action..... but as the debts are minor, the likelihood of anyone issuing court papers is small, as already said. They will however try all kinds of tricks to get you on the phone to scare the beJesus out of you in the meantime, as you are already experiencing, it seems. As you don't own property however, there's no real long-term risk (in my opinion) but others might disagree.

2). The other option is to make token payments (providing all interest/charges are frozen) until such times as they get fed up collecting and either sell the debt or, mention the possibility of settling. In my experience, they normally go for the former unless you approach them with a F&F settlement figure yourself later on, which leads to the outcome in Option 1 anyway. The downside of making token payments however is that it lengthens the whole process and keeps the debt alive for longer....

The amounts you are offering each month.... are they amounts you can realistically afford? If not, they need to be dropped down further if you go with Option 2.

Personally, I would go with Option 1 but that's only because I'm a bit of a bugger with these kind of people and like to p*ss them off....

Are you saying that I am in a position to use the CCA route with all of them in Option 1?

Legal action is CCJ's?

My colleague went for Option 1, and as she does not answer calls, or read the letters, difficult to know whether it has gone to court,lol.

I can afford the token payments, but I don't think they will accept it, in which case I will be left with Option 1.

In your experience, how many of them agree to freeze interest?

[PriorityOne]

Re: Cecilia PDL diary

Are you saying that I am in a position to use the CCA route with all of them in Option 1?

Legal action is CCJ's?

My colleague went for Option 1, and as she does not answer calls, or read the letters, difficult to know whether it has gone to court,lol.

I can afford the token payments, but I don't think they will accept it, in which case I will be left with Option 1.

In your experience, how many of them agree to freeze interest?

1). You can go down the CCA route once a debt has been sold but until that time, it's of no use to you here.
2). Legal action means CCJs, yes
3). Your colleague needs to read her post! It's one thing to ignore letters but read them first.... as it's the only way to know whether a company is going for legal action or not.
4). It's not up to them to accept a token payment. You set the amount and as long as it gets paid, that's all that matters.
5). All of mine froze interest or they got nothing. That was the deal or there was no point. Some agreed and some didn't but those that didn't sold the debts because that was all they could do really. Those that agreed sold them eventually as well.....

[cecilia]

Re: Cecilia PDL diary

1). You can go down the CCA route once a debt has been sold but until that time, it's of no use to you here.
2). Legal action means CCJs, yes
3). Your colleague needs to read her post! It's one thing to ignore letters but read them first.... as it's the only way to know whether a company is going for legal action or not.
4). It's not up to them to accept a token payment. You set the amount and as long as it gets paid, that's all that matters.
5). All of mine froze interest or they got nothing. That was the deal or there was no point. Some agreed and some didn't but those that didn't sold the debts because that was all they could do really. Those that agreed sold them eventually as well.....

It sounds like things get easier once the debt is sold, right?

You ended up making token payments, only for the debt to be sold, which I guess worked in your favour.

[cecilia]

Re: Cecilia PDL diary

They all have the same business model, here is Cheque centre, who you will love Priorityone!

http://www.dailyrecord.co.uk/news/sc...y-loan-2240215

[cecilia]

Re: Cecilia PDL diary

Ever wondered why Tories are not controlling Payday loan companies?

http://www.independent.co.uk/news/uk...y-8656356.html

[PriorityOne]

Re: Cecilia PDL diary

I hate these kind of companies with a passion!!

In my experience, once a debt is sold, the purchasing company often has an almighty headache trying to get hold of documentation and when they do, the figures on that documentation can often be challenged anyway. I wouldn't see it as an easy option; it becomes a different game, that's all.

As you don't own property, the only worry for you would be if anyone decided to go for a CCJ (by issuing court papers) and then an attachment of earnings..... so in all honesty, it's a toss up between paying these thieves for an eternity or playing Devil's Advocate with court papers.... Having said that, if you did receive court papers, these could be defended/challenged anyway.

I can't tell you what to do though; I can only advise you and my way might not be the way you want to go.

[cecilia]

Re: Cecilia PDL diary

I hate these kind of companies with a passion!!

In my experience, once a debt is sold, the purchasing company often has an almighty headache trying to get hold of documentation and when they do, the figures on that documentation can often be challenged anyway. I wouldn't see it as an easy option; it becomes a different game, that's all.

As you don't own property, the only worry for you would be if anyone decided to go for a CCJ (by issuing court papers) and then an attachment of earnings..... so in all honesty, it's a toss up between paying these thieves for an eternity or playing Devil's Advocate with court papers.... Having said that, if you did receive court papers, these could be defended/challenged anyway.

I can't tell you what to do though; I can only advise you and my way might not be the way you want to go.

Is it true that some of these companies, don't want it to go to court, as it exposes their practices and rates?

Thanks for your perspective on this.

[cecilia]

Re: Cecilia PDL diary

Got an email today from PaydayUK demanding payment, asking me to contact the collections team.

They seem to have no idea that the collections team were in touch with me on the 30th August offering me a proposal, also received a text from them. Going round and round in circles.Another company where staff don't communicate with each other.