Mini Credit and Kapama Limited!

[laurenosborne1991]

Hello,

Just wondered if you has any luck with these companies?
I took out a £100 loan back in 2012 in stupidity as well as desperation, buried my head in the sand and did nothing about repayments- could not afford to.
I thought I had paid all of my debts off, but after checking my credit score, Kapama popped up and now saying I owe then £860!
I spoke to someone on the phone who was quite rude and I asked him for a settlement figure. He asked what I could afford I said £200 and he said they couldn't go that low and the lowest would be £650! I told them to leave it and he said until what? I don't really know the answer to that myself but In my head I cannot justify that amount and I am sure they can't either.
Especially as the loan was taken out with mini credit and they obviously haven't traded legally and have been shut down? sold their portfolio to Opos who have then Sold to their sister company Kapama... Surely something is not right here!
I am more than happy to pay what I owe but that amount just seems extortionate!

Any help would be greatly appreciated!

[nemesis45]

Re: Mini Credit and Kapama Limited!

Hello,

Just wondered if you has any luck with these companies?
I took out a £100 loan back in 2012 in stupidity as well as desperation, buried my head in the sand and did nothing about repayments- could not afford to.
I thought I had paid all of my debts off, but after checking my credit score, Kapama popped up and now saying I owe then £860!
I spoke to someone on the phone who was quite rude and I asked him for a settlement figure. He asked what I could afford I said £200 and he said they couldn't go that low and the lowest would be £650! I told them to leave it and he said until what? I don't really know the answer to that myself but In my head I cannot justify that amount and I am sure they can't either.
Especially as the loan was taken out with mini credit and they obviously haven't traded legally and have been shut down? sold their portfolio to Opos who have then Sold to their sister company Kapama... Surely something is not right here!
I am more than happy to pay what I owe but that amount just seems extortionate!

Any help would be greatly appreciated!

There's nothing wrong in the sale of the debt portfolio it's just an asset of the company.
When Mini folded the administrators had to realise the assets of the company selling
the debts was just part of the process.

nem

[laurenosborne1991]

Re: Mini Credit and Kapama Limited!

Hello,
Thank you for your reply.

That's fine, how about the sum of money being requested is there anything that can be done to reduce that? seems out of proportion and unjust to me?

Lauren

[FlamingParrot]

Re: Mini Credit and Kapama Limited!

Hello,

Just wondered if you has any luck with these companies?
I took out a £100 loan back in 2012 in stupidity as well as desperation, buried my head in the sand and did nothing about repayments- could not afford to.
I thought I had paid all of my debts off, but after checking my credit score, Kapama popped up and now saying I owe then £860!
I spoke to someone on the phone who was quite rude and I asked him for a settlement figure.

It's never a good idea to deal with creditors over the phone, keep it all in writing, even if it's only an email, still better than doing things over the phone. :typing:

He asked what I could afford I said £200 and he said they couldn't go that low and the lowest would be £650! I told them to leave it and he said until what? I don't really know the answer to that myself but In my head I cannot justify that amount and I am sure they can't either.

The FCA has introduced new rules with regards to payday loans, meaning borrowers not having to pay such ridiculous amounts. I realise this is not retrospective, i.e. wouldn't apply to a loan from 2012, however, I don't think these guys would want to take this to court as it would be hard to justify that amount.

Especially as the loan was taken out with mini credit and they obviously haven't traded legally and have been shut down? sold their portfolio to Opos who have then Sold to their sister company Kapama... Surely something is not right here!
I am more than happy to pay what I owe but that amount just seems extortionate!

Any help would be greatly appreciated!

It certainly is, however, asking for a settlement figure over the phone isn't going to help you get the best deal. If you want to make a F&F settlement offer you need to put it in writing and start with a low offer yourself, rather than asking them how much they'd like to get.

Are they threatening legal action?

[Berniethebolt]

Re: Mini Credit and Kapama Limited!

Hi
Part of the agreement with the FCA when mini credit surrendered their licence was that certain things should happen, this has nothing whatsoever to do with the administrators selling on the assets .

https://www.minicredit.co.uk

have a read and also the link of the details on the FCA website

Did you get a notice of assignment ?

I have not heard of kapama issuing proceedings although that doesn't mean that haven't won't .

[Debt Camel]

Re: Mini Credit and Kapama Limited!

If you feel that you were given a payday loan which was unaffordable (ie there was no serious prospect of you being able to repay it on the due date) then you could make a claim for compensation.

Normally this would be to the lender itself, not to a debt collector who was sold a portfolio of defaulted debts. However here you should complain to Kapama.

Details about what you could put in a letter of complaint are here http://debtcamel.co.uk/more-payday-refunds/. This isn't guaranteed to work, but all it will cost is a bit of your time! Also do this for any other payday loans you had, even if you paid them off, if you think they too were unaffordable.