Micro Lend Uk - Credit Licence Suspended - Wage Payment and Payday Loans Limited

[Amethyst]

Re: Micro Lend Uk - SUSPENDED Credit Licence

Bizarre response

http://www.hiltonlaw.co.uk/

Be interesting to hear the reply anyway

[EXC]

Re: Micro Lend Uk - SUSPENDED Credit Licence

Bizarre response

Really.

How about replying to OFT asking if ML can assign debts while suspended?

[enaid]

Re: Micro Lend Uk - SUSPENDED Credit Licence

I note the sol is up our end lol

[Amethyst]

Re: Micro Lend Uk - SUSPENDED Credit Licence

Really.

How about replying to OFT asking if ML can assign debts while suspended?

Already done x

Also asked if they appealed and if not what happens

[EXC]

Re: Micro Lend Uk - SUSPENDED Credit Licence

I note the sol is up our end lol

Ouch.

[EXC]

Re: Micro Lend Uk - SUSPENDED Credit Licence

''We are WPPL Ltd. We now are the administrator of your loan...''

http://www.consumeractiongroup.co.uk...37#post4493437

So I can see where the confusion was.

[jon1965]

Re: Micro Lend Uk - SUSPENDED Credit Licence

Here is a question though

Is a NOA delivered by email a legal document?

[zombiefan61]

Re: Micro Lend Uk - SUSPENDED Credit Licence

Hi

Do you think its wise to make a payment to these people or wait?

Thanks

[jon1965]

Re: Micro Lend Uk - SUSPENDED Credit Licence

Personally I would wait.
I would want proper written confirmation

[Amethyst]

Re: Micro Lend Uk - SUSPENDED Credit Licence

I've asked the question of the OFT, presumably it is a similar set up like Toothfairies, after shoving the loan book with a sister company who were then also shut down, it was sold off to other companies, who then had the right to collect the debts on the same terms as the original loan.

So although I wouldn't recommend paying by bank transfer to their Barclays Account or setting up a CPA with them, I would come to an arrangement with them to make monthly/weekly payments by standing order or debit card over the telephone - I'd also insist on having the arrangement you make with them in writing. I know no one wants to fall behind with payments on these kind of loans as they escalate rapidly.

[zombiefan61]

Re: Micro Lend Uk - SUSPENDED Credit Licence

I have agreed to make a monthly payment by standing order as do not want to give them my bank or card details. I especially do not want them to write to me as my other half does not know about the loan. I keep getting emails about late payments though from them...

[Tools]

Re: Micro Lend Uk

I have just spoken with Marie Whitley at the OFT who is the Team Leader dealing with Microlend.

I expressed our concerns with communications received by members regarding the assignment of debt to Wage Payment & Payday Loans Ltd t/a Payday Overdraft and messages Mark at Hilton Law.

Marie clarified that Mark at Hilton Law is dealing with issues regarding Microlend and verified him as a legitimate contact for debtors of Microlend. Any queries about your account can safely be directed to him at mark@hiltonlaw.co.uk .

She would also like us to forward on any communications you may have received about assignment/sale of debt to Payday Overdraft but would prefer them to be submitted via Legal Beagles. If anyone is in receipt of any communications, email or written letter, could you please forward it unredacted in full to admin@legalbeagles.info

She also confirmed that during this transition period( from 3rd March) where it is unclear to the consumer what is happening, any charges or additional interest on top of the agreed amounts should not be applied by the lender. Should anyone incur such charges then please let us know and we can contact the OFT for further consumer guidance.

[Amethyst]

Re: Micro Lend Uk - SUSPENDED Credit Licence

Thanks guys for sending over those emails. All I can say OMG !

Has anyone had communication off of Mark @ Hilton Law ?

I've forwarded them on to Marie. And I'll follow up by ringing her once she's had chance to peruse them, I'd hold off making payment for now.

And don't ring that mobile number some of you have had, at least till I hear back from the OFT.

[dion]

Re: Micro Lend Uk - SUSPENDED Credit Licence

I have written to Mark Hilton at Hilton Law and had no reply. The Consumer Credit Trade Association have kindly shared my correspondence with their legal team who are looking at this. I have had nothing from Payday Overdraft except an email suggesting I liaise with Mark Hilton. And MicroLend did respond to me with the following email. In short though, if I pay them (tomorrow) how do I have confidence that it will extinguish any liability on the loan where I have no formal agreement with them in the first place?! Its a bit like the time I sent money to a Nigerian prince to help him release £10.8billion petrodollars lol

Hi,

You will need to arrange your repayment with the below company.

Their banking details are:

205851
83361829

Their email address is admin@paydayoverdraft.com

Or you can ring or email them as per the below details. They now own this debt.



Yours sincerely,

Micro Lend UK
COLLECTIONS DEPARTMENT
T: 0845 116 8000
F: 0845 116 8001
E: payments@microlend.co.uk
P: PO BOX 48563, London, NW4 9BA

[Amethyst]

Re: Micro Lend Uk - SUSPENDED Credit Licence

Hi Dion,

Thanks for sending the emails over. From the conversation Tools had with the OFT earlier, there is a transition period where additional interest and charges cannot be applied to the account so if you can hang fire until we get something definitive. The OFT did say though it was okay to communicate with Mark Hilton.

I'll try find out what I can.

Sharon
xx