• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

payday loans

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • payday loans

    I had an old payday loan ,but my debt managent programme i was on was dealing with them, apparently i applied for another payday loan i didnt not realise they gave my bank details to my old payday loan they took all my funds out of my bank account. now iam left with nothing , is that legal can they do that
    Tags: None

  • #2
    Re: payday loans

    What a shame that while in a DMP you had to take out another payday loan. This is not judging you, but if the DMP has been calculated correctly, you should have plenty of money to live on and make your agreed repayments. There should be no need for further loans.

    If you are finding you can't live within your current set up, you should go back to the DMP provider and tell them - may I ask who it is?

    As for your question, if the application was with the same, or a related PDL company, they can use your details and take every penny you have quite legitimately under something called the right of set off. Further, if you have money in other accounts within the same banking group, they can take that as well.

    What you need to do:

    You need to go into your bank, or phone them, and instruct them to cancel the Recurring Payment Authority to the PDL company. Follow this up with a letter stating the same, ideally sent recorded delivery if you can afford it, so you have proof of receipt. Alternatively, ask for Proof of Postage which is free and keep this VERY safe. Ask the bank to confirm in writing to you the RPA has been cancelled.

    This should stop them doing the same again, and if they did you would have recourse against the bank.

    Hope this helps.

    Comment

    View our Terms and Conditions

    LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

    If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


    If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
    Working...
    X