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Re: Payday loan companies
Hi
Voluntarry codes wont work, they didnt work in the US and Canada 6 years ago and they wont work now because in the main it is the same companies we are dealing with.
The issue is, do the government know this and are they for some reason ignoring the fact or are they stupid.
Peter -
Re: Payday loan companies
Hello
I am new to this forum but am in need of urgent help.
I am currently fighting Cash Genie - just been through mediation and the £628 they are requesting, they say they will accept an out of court settlement of £300 to be paid in £50 installments.
How ever they have had £429 in roll over fees over 11 months plus they took an unauthorised payment of £142 from my account last year.
The loan was originally £150 plus £45 interest. So as you can see I have already paid more than this back in charges and interest.
I have just found out i am pregnant so all this worry is not doing me much good. I dont know whether to accept the offer of £300 or go to court in March?
My mediator advised that if I lose I could have to pay up to £800 in charges etc. and that if I cant pay it in one lump sum then I will have a CCJ on my name.
In a right pickle and need to give my decision today.
Help will be very very much appreciated
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Re: Payday loan companies
Hello
This is one of those occasions when it is difficult to give advice.
If this were me, I would tell them to stuff it. I would let them take me to court and try and justify charging me anything over what is due under the contract, and if they could, then get them to justify it again under the unfair terms conditions of the CCA.
But I am not in your position, if you can afford these repayments and if they assure you that no further interest will be added and in view that this course has been recommended under the administration procedure you may feel it is as well to accept.
I wold imagine that the last thing you need at the moment is the added stress.
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