Re: minicredit

[devonclaret]

hi
got a simular problem
i have been with a debt management company making regular repayments every month through the debt management company for over 18 months now
we took a loan out at the start with mini credit for £300.00
but days after i had a heart attack which while in hospital the found out i needed major heart surgury there and then
so with all that was happening with me we got behind and asked them to if we could make repayments and get the intrest frozen , they agreed all seemed ok till we put all our debts to the debt management company , then mini credit passed the outstanding balance to opos wich at that time was now £760.95 that was on 06/12/2013
remmember we have been paying a minimum of £20.00 per month since that date
so yesterdays email we recived on bank holiday sunday telling us the outstanding balance was overdue and now standing at £2,245.47 somebody was still adding intrest [ mini credit or opos ]
so it means for every £20.00 we repay each month they are adding a further £50.00 in intrest so i am never going to be debt free
any help welcomed [ how to get this to court to get a judge to order on it ]
or how to get this debt back to what the debt balace was before they kept adding this intrest
cheers

[enaid]

Re: minicredit

Hi and welcome to Legal Beagles.
Did you get anything in writing about the interest being frozen from Minicredit and did the DMP say the interest was frozen?
Have you statements from the DMP?
This would show how the balance got to £760.95

Then there is the question as to how the Balance of £76o.95 got to a staggering £2,245.47 in 4 months.

Are you paying a fee to the DMP?

[devonclaret]

Re: minicredit

Hi and welcome to Legal Beagles.
Did you get anything in writing about the interest being frozen from Minicredit and did the DMP say the interest was frozen?
Have you statements from the DMP?
This would show how the balance got to £760.95

Then there is the question as to how the Balance of £76o.95 got to a staggering £2,245.47 in 4 months.

Are you paying a fee to the DMP?

hi again
thanks for your quick responce
regarding statement i get them when they decide to send them
the last statement shows the balance at £760.95 that was dec 2013
and yes i pay them around £30.00 per month
i have just had a reply email back from opos [ mini credit ]
they say that the outstanding balance that they took over from mini credit was £2,245.47
so i emailed back to ask why i have a letter dated dec 2013 stateing my outstanding balance is £760.95
up to now they have not returned my email
cheers

[enaid]

Re: minicredit

There are free DMPs http://www.stepchange.org/

http://www.payplan.com/

https://nedcab.cabmoney.org.uk/

The £30 a month you are paying them could be paying off your debts.

[devonclaret]

Re: minicredit

There are free DMPs http://www.stepchange.org/

http://www.payplan.com/

https://nedcab.cabmoney.org.uk/

The £30 a month you are paying them could be paying off your debts.

yes i know that
i was with another d.m. before that was free but they did a runner with all there clients money
and the court put this debt management company in charge

[Amethyst]

Re: minicredit

Do you know how much in total you have repaid since taking the £300 loan out originally?

[Nibbler]

Re: minicredit

Which company did a runner? There have been a few lately. And by the court passing it over, do you mean that the winding up/adminitrators of the old company passed the case files to another DMP provider?

(For example, when Apex Credit Management went AWOL their client s got sent to Cleardebt)

You can choose where to go. You don't have to accept where they sent you if it is a similar case to that.

Regard the interest and charges etc that have been added, it may be worth complaining to the FOS.

Some people have managed to get dramatic amounts wiped off doing that, if the company has not showed the appropriate forbearance in suspending interest and charges.

[devonclaret]

Re: minicredit

Which company did a runner? There have been a few lately. And by the court passing it over, do you mean that the winding up/adminitrators of the old company passed the case files to another DMP provider?

(For example, when Apex Credit Management went AWOL their client s got sent to Cleardebt)

You can choose where to go. You don't have to accept where they sent you if it is a similar case to that.

Regard the interest and charges etc that have been added, it may be worth complaining to the FOS.

Some people have managed to get dramatic amounts wiped off doing that, if the company has not showed the appropriate forbearance in suspending interest and charges.

im not sure of the name of the dm company that did the runner i would have to go back into my old bank account files
to find the name
all i know is we got a letter from nottingham courts intrducing that clark richards were tajing over all the accounts that the old company held
there charges are a little cheaper than the old firm
i have contacted fos to ask about intrest charges and how it can get to so much in 4 months
so i can see i will be very busy over the next two or three days on the phone [ ha ha ]
let you know the outcome of the next couple of days

[devonclaret]

Re: minicredit

hi
i have been busy going through my bank account online history
and found the name of the debt management company that did the runner with all the customers money
they were called
debt help direct ltd [ DEBT HELP WHAT A JOKE ]

[enaid]

Re: minicredit

Think that will be these then

http://www.manchestereveningnews.co....-firms-4685887

[Amethyst]

Re: minicredit

So basically, minicredit had frozen interest and charges and were allowing you to make repayments, THEN you joined a dmp with these conmen, and they didn't make the payments, so minicredit started up interest and charges again and sent the debt to opos. Was any recompense given to customers of those dmc's for the balls up they made of people debts and credit ratings?

Are the new dmp company any good? Doesn't sound like it if the debts shot up to 2.5k.

I'd, personally, stop paying and tell them to take you to court. But anyway ... A good letter detailing what happened and asking formally for a full breakdown of the debt with a SAR to minicredit and opos is in order I think.

[Amethyst]

Re: minicredit

Bit off topic, but would you still have a copy of the letter ..... ''all i know is we got a letter from nottingham courts intrducing that clark richards were tajing over all the accounts that the old company held'' ?

[enaid]

Re: minicredit

http://www.clarkrichards.co.uk/debt-management/

banned form cag for touting

You would make one single monthly/weekly/fortnightly payment to ourselves and we would then distribute the amounts agreed direct to your creditors. We would send you a monthly statement by post or email outlining exactly what we were paying each of your creditors, so that you can keep a track of what you still owe.

http://www.insolvencydirect.bis.gov.uk/piudb/viewpiucasedetails.asp?companyname=Debt%20Help%20D irect%20Limited

The Official Receiver understands that work conducted by Cheshire Police before his appointment resulted in a
number of customers being transferred to an unconnected company called Clark Richards Ltd, who have continued to provide services.

Can find nothing about any compensation or really any advice other than to carry on with a new DMP, disgusting as it may have put lots of people further in debt due to interest and charges mounting up.

[enaid]

Re: minicredit

I think you should get any info you have copied and write to FOS explaing about your DMP (Debt Help) didn't make payments. Then the new DMP didn't honour any arrangement made about stopping charges and interest so the debt went to £760.95 by the end Dec 2013.
The debt was passed to Opus (which is part of Minicredit) and as of yesterday the debt has escalated to £2245.27.
http://www.financial-ombudsman.org.uk/faq/complain.html


Email Minicredit and tell them of your complaint
https://www.minicredit.co.uk/comp_procedure