Are Pounds Till Payday still Trading?

[Amethyst]

Re: Are Pounds Till Payday still Trading?

Personally, I wouldn't. I would keep the normal payments aside (in case you need to pay them up later) and argue the point if they go to any collection methods, but otherwise I would just ignore them. They can't report to cra's as they are not regulated in the UK. They can't add late payment fees for not taking the DD themselves. You could make a complaint to the financial ombudsman if you'd rather deal with it... I believe they will look at PTP cases without going through the 8 weeks/final resolution as it is impossible to contact anyone from PTP. Reply to PTP's email stating they chose not to take the payment by DD as agreed and you dispute you owe the late payment fee and they should treat this email as a formal complaint and that you will not be making any further payments until the issue is resolved. I would also now cancel your DD just in case they manage to use it to pay themselves a random amount.

[k3oghboi]

Re: Are Pounds Till Payday still Trading?

Hi there, the email came from ptp, stupidly I took a loan from them, my final payment was 82, then when I checked my account I noticed they hadn't taken DD that is when I logged into my account to realised the extra 15 pound...... I've since logged in today and they have added more to it, again no way of contacting them...... shall I just ring the automated payment line before they keep putting the cost up?

Thanks for your help

[Amethyst]

Re: Are Pounds Till Payday still Trading?

Who did the email come from ?

[k3oghboi]

Re: Are Pounds Till Payday still Trading?

any more news on this? im also in the same boat received and email today saying I owe them an extra 15 pound for a missed payment? what shall I do? its there issue surely if they don't take DD as normal? really don't know what to do? pay manually or.....

regards chris

[mickydoo73]

Re: Are Pounds Till Payday still Trading?

Update: I emailed Lyn Gaskell, as well as their "customer care" email address. Both email addresses are coming back with "timeout" issues. Google will keep retrying for another day, but it looks to me that their entire email system is shutdown and not receiving email. I'm betting they've been wound up, so a good job I haven't made that payment yet, and have evidence to support my attempts at contact.

[Amethyst]

Re: Are Pounds Till Payday still Trading?

via Kimberley DeThomas ?


There is a president of Northway around somewhere, Sergio Bianco ?

[mickydoo73]

Re: Are Pounds Till Payday still Trading?

I believe that Northway Financial Corporation Ltd, may be part of the NDG Group of Companies headquartered in Canada... a bit of research on LinkedIN

[mickydoo73]

Re: Are Pounds Till Payday still Trading?

In fact, no mention of the CEO, CIO/CTO, Chairman etc. Interesting that it is privately held too. Sounds like a small company spun out of the UK by this lady who is positioning herself as accounts./finance and has progressed, but I suspect, in fact she was probably always the figurehead. Otherwise why no details of the CEO etc on the website? Seems one-sided to me....

[mickydoo73]

Re: Are Pounds Till Payday still Trading?

Damn right she should. If anyone, SHE is responsible for their f*ck ups.

[Amethyst]

Re: Are Pounds Till Payday still Trading?

Well she SHOULD know

Lyn Farrugia Gaskell - CFO of Northway Group

Lyn graduated from Liverpool John Moors University, UK with an Honours degree in Accounting and Finance prior to immigrating to Malta. She subsequently obtained her ACCA and is now a fellow of this association as well as being a fellow of the Malta Institute of Accountants.

After working as an auditor for a range of small firms for a few years, she moved to internationally renowned accounting firm KPMG where she specialised in international business. Here she was responsible for liaising with foreign business owners in order to meet their needs.

Lyn joined the Northway Group of Companies in May 2006 as a Senior Accountant. During this time, she was responsible for the establishment of the Finance Department in Malta. In August 2007, she proceeded to take on the role of European Finance Manager.

Lyn was appointed Director of Finance in June 2009, being responsible for the financial and day-to-day activities of the European operations. The Finance team is currently made up of eight members. Lyn is responsible for the everyday smooth running of this department, handles MFSA reports, ensures compliance with set banking regulation (such as Maturity Ladders, Capital Adequacy Ratios, Solvency Ratios etc), creating monthly and quarterly reports for the MFSA, statistical analysis, complaints processes, AISEC (our Australian licence) as well as being responsible for the audit of the entire European group.

In 2012, Lyn was appointed as CFO of Northway Group. She also makes up a part of the Board of Directors of most of our European companies.

[mickydoo73]

Re: Are Pounds Till Payday still Trading?

ok I've now had a response from the Maltese FCA consumer complaints unit, who have referred me to a lyn.gaskell@northwayfinancial.com who is also named in the FCA record when I checked.

I've sent her an exploratory email, rather than taking a stance, to see if I get a response.

[mickydoo73]

Re: Are Pounds Till Payday still Trading?

That was the first thing I did on Monday after I noticed the default charge email, as I didn't want them trying to raid my account for an amount I dispute.

[Amethyst]

Re: Are Pounds Till Payday still Trading?

did so after noticing the fact that they'd not taken my last installment on a loan (which I was/am able to afford to repay), and that I'd subsequently discovered when I checked my email that they'd sent me a default notice and a charge of £15, and about 3 or 4 days before the DD was due to go out an email saying I'd have to make a manual repayment as they'd be unable to take the direct debit.
This seems VERY odd to me. Also the due amount was shown on the email as less (£160) than the payment I believed I was making of £189.

Micky, I would cancel your Direct Debit and keep the money aside just in case you are needed to pay it while this is sorted out. You don't want them helping themselves to a random amount just before they vanish off the face of the earth.

It'd be interesting to find out if other customers have had similar with their last installments. There might be some customers of PTP on MSE talking about it if so.

[mickydoo73]

Re: Are Pounds Till Payday still Trading?

Right, I've spoken now to another adviser at the FCA, and explained this forum thread. He fully understood the complexities, and agrees that whilst they can offer services online, that they CANNOT offer UK currency, take payment via UK banking services or UK contact numbers, as that would deem they are operating in the UK, without a UK Consumer Credit license. Nor can they add anything to my credit file.

He has passed my case number up to their regulatory compliance team for investigation as it would seem they have been operating illegally from February 2015. Sounds like Northway are naughty boys.

What worries me, is that I cannot contact them to discuss/dispute anything as all means to do so seems to have ceased.
He advised I speak to the Money Advice Service.

[judgemental24]

Re: Are Pounds Till Payday still Trading?

Maybe not, but if you take those services via a website, that doesn't mean that they are operating financial services in the UK.

I'd strongly recommend we collectively re-check, as I'm concerned that the direction I had from the FCA was only yesterday - more recent than your interaction, I assume.



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Although I get your point about taking payments in the UK - i.e. via Direct Debit, or over the phone manually.

They are offering financial services in the UK by their web address as a UK registered company so must be certificated by the regulatory authorities. The same restrictions are on these Payday Loan companies who are registered in Eire but trade in the UK

They even carry the Credit Services Association Logo (CSA) unique to the UK

PoundsTillPayday.co.uk