• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

Minicredit Payday loan Threats

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Minicredit Payday loan Threats

    Hello, so I am in a situation with minicredit and am trying to find a solution. A few months ago, I owed minicredit £190, this escalted to £480 and ended with them stealing the money out from my bank. Now go forward to may 5th, they put £85 into my account and claim I took another loan for £100. I do not remember this, loan was due 5th june and today is 5th july, it has only been 30 days and the loan stands at £603!! and today I get a letter from minicredit telling me if I do not pay by 12th july, it will be passed onto a DCAicon (it states on their T/C's that it won't be passed onto DCA until 90 days due, so like WTF). I have told minicredit many times so send me a copy of my agreement, they have not. They have served me 2 default notices (Isn't this meant to void the contract? Someone clear this for me)? I have told them that they stole £288 extra from my bank account, so therefore they still owe me £203 since I already got £85, they refute this and claim it is a new loan. I was considering legal action for the theft of monies from my bank but I just have to much going on in my life. What's my next move? All help appreciated.
    Tags: None

  • #2
    Re: Minicredit Payday loan Threats

    HI

    You need to get a statement of account, did you send a section 77 request?

    D

    Comment


    • #3
      Re: Minicredit Payday loan Threats

      I presume you have changed your bank account, if not you must do so.

      D

      Comment


      • #4
        Re: Minicredit Payday loan Threats

        Originally posted by davyb View Post
        HI You need to get a statement of account, did you send a section 77 request? D
        Hello, well I have asked them numerous time for my agreement which they have just ignored me. The problem is, they have no email address and all emails send to them is via their website contact us link, which does not save the email sent so I have no proof of what I sent. I have told them under law they have to provide me with my contract, they don't seem to care.

        Comment


        • #5
          Re: Minicredit Payday loan Threats

          Originally posted by davyb View Post
          I presume you have changed your bank account, if not you must do so.

          D


          Yeah did that after they stole £480 from my bank.

          Comment


          • #6
            Re: Minicredit Payday loan Threats

            HI
            You need to send them an official request under section 77 of the act

            Send them this, record the delivery

            The address is

            MInicredit Loans

            30, BOROUGH HIGH STREET, LONDON, SE1 1XU


            Dear sirs

            Ref account number

            Please supply A true copy of my agreement as required under section77 of the consumer credit act 1974, complete with the terms and conditions currently applicable to my agreement.

            In addition i require a fully itemeised statement of account as required under section 77.1 (b).

            Since the balance of this account is in dispute i would ask you to suspend collection activities in compliance with OFT guidelines untill this can be verified.

            I enclose the statutory fee of £1, this is exclusivity to pay for the delivery of this documentation and is not to be credited to the account in question.

            You have the statutory period of 12 days to comply.

            I look forward to your response

            Comment


            • #7
              Re: Minicredit Payday loan Threats

              Originally posted by davyb View Post
              HI You need to send them an official request under section 77 of the act Send them this, record the delivery The address is MInicredit Loans 30, BOROUGH HIGH STREET, LONDON, SE1 1XU Dear sirs Ref account number Please supply A true copy of my agreement as required under section77 of the consumer credit act 1974, complete with the terms and conditions currently applicable to my agreement. In addition i require a fully itemeised statement of account as required under section 77.1 (b). Since the balance of this account is in dispute i would ask you to suspend collection activities in compliance with OFT guidelines untill this can be verified. I enclose the statutory fee of £1, this is exclusivity to pay for the delivery of this documentation and is not to be credited to the account in question. You have the statutory period of 12 days to comply. I look forward to your response
              Thanks. I send this recorded delivery right? And how would I prove what this letter said? They could say this wasn't the letter they recieved.

              Comment


              • #8
                Re: Minicredit Payday loan Threats

                may i chip in?

                DONT SIGN IT! print your name hun!

                sorry to butt in davy love

                if you print your name they cannot lift your signature and put it on any "contracts" you may have.

                Comment


                • #9
                  Re: Minicredit Payday loan Threats

                  and yes, send it recorded delivery.

                  Comment


                  • #10
                    Re: Minicredit Payday loan Threats

                    Originally posted by puffrose View Post
                    may i chip in?

                    DONT SIGN IT! print your name hun!

                    sorry to butt in davy love



                    if you print your name they cannot lift your signature and put it on any "contracts" you may have.

                    Hi Puff don't mind a bit, puff but it would have been an on line agreement i think(no signature.)

                    In this case we are trying to get a statement, the agreement is neither her nor there they can send any old rubbish.


                    This rabble are one of the worst PDL companies, so prepare for a rough ride, in general the rule is only pay back the initial loan plus one months interest, but it sounds bit more complicated in your case, probably they will transfer this to their DCA after the request, not a problem i have dealt with them many times.

                    D

                    Comment


                    • #11
                      Re: Minicredit Payday loan Threats

                      Originally posted by davyb View Post
                      HI
                      You need to send them an official request under section 77 of the act

                      Send them this, record the delivery

                      The address is

                      MInicredit Loans

                      30, BOROUGH HIGH STREET, LONDON, SE1 1XU


                      Dear sirs

                      Ref account number

                      Please supply A true copy of my agreement as required under section77 of the consumer credit act 1974, complete with the terms and conditions currently applicable to my agreement.

                      In addition i require a fully itemeised statement of account as required under section 77.1 (b).

                      Since the balance of this account is in dispute i would ask you to suspend collection activities in compliance with OFT guidelines untill this can be verified.

                      I enclose the statutory fee of £1, this is exclusivity to pay for the delivery of this documentation and is not to be credited to the account in question.

                      You have the statutory period of 12 days to comply.

                      I look forward to your response
                      You could email them the letter and say there is a hard copy plus the fee in the post.

                      Comment


                      • #12
                        Re: Minicredit Payday loan Threats

                        Originally posted by Ons View Post
                        Hello, well I have asked them numerous time for my agreement which they have just ignored me. The problem is, they have no email address and all emails send to them is via their website contact us link, which does not save the email sent so I have no proof of what I sent.
                        https://www.minicredit.co.uk/comp_procedure

                        claims@minicredit.co.uk

                        I have told them under law they have to provide me with my contract, they don't seem to care.
                        Arrogant turd-tasters like them seem to think the law is optional.

                        Perhaps that is why they appear to have been trading without the correct licence?

                        Yes, they do have a current Consumer Credit Licence but, as can be seen in the attached file, their business was described as "Cheque Cashing Services".
                        Attached Files

                        Comment


                        • #13
                          Re: Minicredit Payday loan Threats

                          Sorry but this is gonna be a long post. They repied to me by email telling me they sent me a contract when I first signed up and another contract with my signature on, however these are the only contracts they have by me;

                          Pre-contract disclosure: Precontract.pdf
                          Loan Agreement signed February 21st 2012: contract 23445534534.pdf

                          Where is the contract I apparently signed in may 2012 for this £100? I have copied and pasted below the contract they have for me when I signed in february 2012, this is just a basic T/C and sets my credit limit at £1500 but when you actually take a certain amount of money, would you still not need to sign a contract that you took £x amount? rather then it being open and set at £1500? as wouldn't one company be able to expose that and claim I took even more then said £x? Below are 2 emails I recieved from minicredit and below that is the loan agreement signed february 2012.


                          Dear x

                          The first copy of Your contract was sent to Your contact email when You registered with us. The second copy of Your contract can be found on Your MiniCredit.co.uk online account under " My loan agreement ".
                          If You wish to receive a full breakdown of the charges, please forward Your request to claims@minicredit.co.uk .


                          Kind regards
                          MiniCredit.co.uk
                          Client Support Team

                          Dear x

                          We will postpone the visit of the doorstep collector (each visit costs £100) for another 30 days and so on after every partly payment, but the loan should be cleared by the 120th day overdue.
                          If You wish to receive a full breakdown of the charges, please forward Your request to claims@minicredit.co.uk .


                          Kind regards
                          MiniCredit.co.uk
                          Client Support Team
                          CREDIT AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974
                          This Agreement is made on the terms and conditions set out below
                          The Parties to this agreement are the Creditor:
                          MICROCREDIT LIMITED ('us'), of 30 Borough High Street, London SE1 1XU, or contact us at
                          www.minicredit.co.uk/contact.
                          and the Customer ('you') named below.
                          Full name: xxxxxxxxxx
                          Address: xxxxxxxxxxxxxx
                          Email: xxxxxxxxxxxxx
                          KEY FINANCIAL INFORMATION
                          Credit Limit: £1500.00
                          Each time you borrow from us, you must make one repayment, which is to be made 1 to 42 days
                          after the day on which you receive the loan from us. The amount of your repayment depends upon
                          the amount you borrow from us.
                          If you make your required repayment, there will be no other repayments you will need to make. We
                          may vary the amount of your repayment and your repayment date, on written notice, to reflect any
                          extension of the due date for repayment.
                          *APR: 4144% pa
                          *APR is the total cost of the credit to you including all interest, fees and charges, expressed as an
                          annual percentage of the amount of credit granted.
                          OTHER FINANCIAL INFORMATION
                          Total Charge for Credit: The 'Total Charge' for Credit depends upon the amount you borrow from us.
                          The following shows the total Charge for Credit you will pay for the different amounts that you can
                          borrow what depends of loan amounts:
                          1) Interest charges: 1% per day of loan amount.
                          2) Fast Advance Transmission Fee £19.50, repayable in advance (optional).
                          3) Loan request charge £1 if made by text message, online request is free.
                          4) Subsequent repeated online requests maybe chargeable if previous one declined.
                          Advance payments: £0.01 (being an initial
                          registration fee which is
                          payable once only)
                          The 'Total Charge' for the Credit shown above is the only charge and there are no other charges for
                          the Credit under this Agreement.
                          The 'Total Charge' for the Credit
                          is made up of the following parts: Interest charges 1% per day
                          depending on how much you
                          borrow; and
                          Loan request fee of £1.00
                          (payable each time you
                          borrow an amount from us
                          under this Agreement by text
                          message, first online request is free)
                          and
                          Fast Advance Transmission
                          Fee £19.50, repay- able in advance (optional).
                          Fast Advance Transmission fee is applicable to all loan applications if not notified in written form at
                          least three days before sending loan application. If your bank account you have provided does not
                          support faster payments scheme we may still charge £19.50 Fast Advance Transmission and
                          handling Fee £19.50.
                          Rate of interest on the Credit to be provided
                          under this Agreement: 365%
                          The rate of interest on the Credit to be provided under this Agreement is fixed.
                          Interest charges have been pre-computed at the commencement of this Agreement. Interest charges
                          are applied and calculated under this Agreement on the date which repayment falls due, being 1 to
                          42 days after the day on which you receive each amount borrowed under this Agreement.
                          KEY INFORMATION
                          If you break this Agreement, we will charge you if we unsuccessfully attempt to obtain repayment on
                          the due date for repayment. A fee of £25 will be charged on the day that your missed payment was
                          due. If we unsuccessfully attempt to obtain repayment on the due date, we will attempt to obtain
                          repayment a second time 2 days later, and if we unsuccessfully attempt to obtain repayment on this
                          second occasion we will charge you a further amount of £55. If we unsuccessfully attempt to obtain
                          repayment we may charge up to £5. If we unsuccessfully attempt to obtain repayment 30 (thirty) days
                          after the due date we may charge further £100 manual debt collection recovery fee.
                          Interest on any sum in arrears will be charged at the contractual rate, both before and after judgment,
                          until payment. Also, you must pay us all other reasonable costs and expenses we incur (including
                          any legal costs on a full indemnity basis) in tracing you, or enforcing, or attempting to enforce, our
                          rights under this Agreement.
                          MISSING PAYMENTS
                          Missing payments could have severe consequences and make obtaining credit more difficult.
                          IMPORTANT - YOU SHOULD READ THIS CAREFULLY ABOUT YOUR RIGHTS
                          The Consumer Credit Act 1974 lays down certain requirements for your protection which should have
                          been completed when the agreement was made. If they were not, we cannot enforce the agreement
                          without getting a court order.
                          The Act also gives you a number of rights. You can settle this Agreement at any time by giving notice
                          in writing and paying off the amount you owe under this Agreement.
                          If you would like to know more about your rights under the Act, contact either your local Trading
                          Standards Department or your nearest Citizens' Advice Bureau.
                          This is a Credit Agreement regulated by the Consumer Credit Act 1974. Sign it only if you
                          want to be legally bound by its terms.
                          This Credit Agreement can only be signed by you electronically. Once you have done so, we
                          will send a pdf copy of the agreement to the e-mail address you have nominated and agreed
                          we can use to send documents to you under this Agreement.
                          IMPORTANT - USE OF YOUR INFORMATION
                          You have a right to know how we will use your personal information. It is important that you should
                          read clause 14 overleaf entitled 'Use of Your Information' before you sign.
                          We may send you information about products of ours and others which may be of interest to you. We
                          may pass your details to other selected businesses to send you information about their products. You
                          have a right at any time to stop us from contacting you or giving your details to others for these
                          purposes. You may write to us at 30 Borough High Street, London SE1 1XU, or contact us at
                          www.minicredit.co.uk/contact if you wish us to stop.
                          LOAN CONDITIONS
                          Application of these Loan Conditions
                          1. These Loan Conditions will apply to the Credit Agreement entered into by you and us ('the
                          Agreement').
                          Warranty
                          2. You warrant that you are at least 18 years old and that the information provided by you to us prior
                          to entering into this Agreement is correct and you authorise us to undertake such investigation or
                          enquiry about you that we may wish to make. Also you warrant that the bank account and the card
                          details you provided during the registration process are registered on your name and address.
                          Registration and PIN
                          3. When you register and apply with us ('Registration'), we will, at our discretion, provide you with a
                          unique Personal Identification Number ('PIN') which is personal to you and which will enable you to
                          make a request to us to borrow the sum from £30.00 to £1500.00 from us ('Request').
                          4. Registration costs the sum of £0.01. This sum shall be paid by debit card. This sum reflects the
                          administrative costs we incur in processing your Registration. As such, this Registration cost is non-refundable, regardless of whether you make a Request subsequent to Registration. However if you
                          cancel this Agreement in accordance with the Financial Services (Distance Marketing) Regulations
                          2004 (see paragraphs 13 to 15 below), we will refund this Registration cost.
                          Request
                          5. Upon receiving a Request from you, we will, at our discretion, loan you the sum you have
                          requested by crediting your bank account, using the bank account details you provided to us during
                          Registration. To make a Request you need to send us a text message from the mobile phone
                          number you provided to us during Registration and in accordance with the Request instructions
                          published on our website, www.minicredit.co.uk ('our website') from time to time. Alternative request
                          can be done online during registration and from secure client account by logging in at our website. If
                          we decline first request then subsequent request may incur charge up to £2.50. All other service
                          charges are published on our website and/or secure client account.
                          One Loan at a Time Only
                          6. We will only loan you one amount, of up to £1500.00, at any one time. Once you repay a loan in
                          full (together with payment in full of any other amounts you owe under this Agreement), you can
                          make another Request and we will, at our discretion, loan you a further amount of up to £1500.00 on
                          the same terms.
                          Loan extensions
                          7. Repayment of each loan and interest at the contractual rate is due 1 to 42 days after the day you
                          receive the loan in your account. At our discretion you can extend any given due date for repayment
                          by making an extension request ('Extension Request'). An Extension Request must be:
                          (i) in accordance with the Extension Request instructions and fees published on our website from
                          time to time; and
                          (ii) received by us no later than one day prior to the relevant due date for repayment.
                          Repayment, Default and Recovery
                          8. You agree to make all payments to us under this Agreement at the proper time. We will collect
                          payments by debiting your bank account using the debit card details you have registered with us up
                          to three times per day. You authorise us to debit your bank account to collect payments due under
                          this Agreement. If we are unsuccessful in collecting payment, we may try to debit your bank account
                          again at a later stage until we have successfully collected payment. If you have provided us with
                          details of a second debit card and we are unsuccessful in collecting payment from the first debit card,
                          you authorise us to seek payment via the second debit card in the same way as you authorise us to
                          seek payment via the first debit card. You must give us new valid debit card details when you cancel,
                          lose or your debit card(s) registered with us become(s) invalid when you have unpaid loan with us. If
                          you cancel your debit card registered with us and do not provide alternative debit card in 14 days we
                          may add all the default charges described in the Key Information and potential attempt fees regularly
                          charged until default date what is 120 days after the due date to your loan balance and refer your
                          account immediately to our debt recovery partner.
                          9. If you fail to make any payment by the due date, we may, after serving any default notice required
                          by law and after the period for remedying any default has passed, end this Agreement. In such
                          cases, you must pay any balance of the amount you owe us under this Agreement.
                          10. Interest on any sum in arrears will be charged at the contractual rate, both before and after
                          judgment, until payment. Also, you must pay us all other reasonable costs and expenses we incur
                          (including any legal costs on a full indemnity basis) in tracing you, or enforcing, or attempting to
                          enforce, our rights under this Agreement.
                          Cancellation
                          11. You have the right to cancel this Agreement under the Financial Services (Distance Marketing)
                          Regulations 2004 ('the Distance Regulations'). You will have 14 days from the date this Agreement
                          is made to cancel the Agreement 'the Cancellation Period'). The Cancellation Period commences
                          on the day that you receive an electronic copy of this Agreement at the e-mail address provided by
                          you, which you agree we may deliver this Agreement to in electronic pdf form. If you wish to cancel
                          this Agreement, please write to support@minicredit.co.uk and tell us that you wish to cancel. You
                          may also give us notice of cancellation by: www.minicredit.co.uk/contact
                          (i) leaving a written cancellation notice, addressed to us, at our address;
                          (ii) posting a written cancellation notice, addressed to us, to our address; or
                          (iii) sending a written cancellation notice to us by facsimile on 020 7138 2919.
                          12. If you cancel this Agreement, this Agreement will be terminated at the time which your
                          cancellation notice is given, however you will have to repay any money lent to you as soon as
                          possible and in any event not later than 30 calendar days of giving us notice of cancellation. Where
                          you have borrowed money from us and you cancel this Agreement, we may charge you £1.00 per
                          day for every £100.00 you have borrowed from us, with such charge commencing on the day that
                          you receive the relevant £100.00 from us and ending on the day your cancellation notice is given.
                          13. Apart from your right to cancel the Agreement under the Distance Regulations, described above,
                          there is no other right of cancellation. If you do not exercise your right to cancel under the Distance
                          Regulations, you will be bound by the terms of the Agreement.
                          Use of Your Information
                          14. In considering your application we will search your record at credit reference agencies. They will
                          add to your record details of our search and your application and this will be seen by other
                          organisations that make searches. Information held about you by the credit reference agencies may
                          already be linked to records relating to one or more of your partners. For the purposes of this
                          application you may be treated as financially linked and your application will be assessed with
                          reference to any 'associated' records.
                          We will use a credit scoring or other automated decision making system when assessing your
                          application.
                          We will also add to your record with the credit reference agencies details of your agreement with us
                          any default or failure to keep to its terms and any change of address you fail to tell us about where a
                          payment is overdue. It is important that you give us accurate information. We will check your details
                          with fraud prevention agencies and if you give us false or inaccurate information and we suspect
                          fraud, we will record this.
                          These records will be shared with other organisations and used by us and them to:
                          · Help make decisions about credit and credit related services such as insurance for you and
                          members of your household;
                          · Race debtors, recover debt, prevent money laundering and fraud, and to manage your accounts.
                          For these purposes we or they make further searches. Although these searches will be added to your
                          record, they will not be shared with others.
                          We may also use information about you to carry out market research.
                          Fraud prevention agency records will also be shared with other organisations to help make decisions
                          on motor, household, credit, life and other insurance proposals and insurance claims, for you and
                          members of your household.
                          Please contact us at (www.minicredit.co.uk/contact) if you want to have details of those credit
                          reference and fraud prevention agencies from whom we obtain and to whom we pass information
                          about you. You have a legal right to these details.
                          You have a right to receive a copy of the information we hold about you if you apply in writing. A fee
                          will be payable.
                          General
                          15. No relaxation or indulgence granted by us shall affect our rights under this Agreement.
                          16. You will notify us if you change address.
                          17. We may assign our rights and obligations under this Agreement.
                          18. You may not assign your rights and obligations under this Agreement without our prior written
                          consent.
                          19. We are a Data Controller for the purposes of the Data Protection Act 1998. We draw your
                          attention to our Privacy Policy which explains how we use any information you provide to us during
                          your use of our website.
                          20. Any notices given to you in relation to this Agreement shall be sent via by e-mail to the e-mail
                          address you have provided to us during Registration ('your e-mail address'). You agree that we may
                          send a copy of this Agreement in pdf form, as well as any notices given to you in relation to this
                          Agreement, to your e-mail address. At our discretion, we may also serve any notice or demand on
                          you personally, or leave it or send it by prepaid envelope addressed to you at your last known
                          address. You may serve any written notices on us by first class post to our registered address or
                          contact us at www.minicredit.co.uk/contact
                          21. Any waiver by either party of a breach of any provision of these Loan Conditions and/or this
                          Agreement shall not be considered to be a waiver of any subsequent breach of the same, or any
                          other, provision.
                          22. A person who is not a party to this Agreement has no right to benefit under or to enforce any term
                          of this Agreement.
                          23. This Agreement is governed by English Law.

                          Comment


                          • #14
                            Re: Minicredit Payday loan Threats

                            What we need is a statement of account, including the charges.
                            Have you ever had any notice of default sums

                            D

                            Comment


                            • #15
                              Re: Minicredit Payday loan Threats

                              http://www.bbc.co.uk/news/business-17127951
                              meCompanies UKEnglandGreater LondonSouthwarkLondon - SE1 1Company No. 06677980
                              MICROCREDIT LIMITED


                              Basic information about company MICROCREDIT LIMITED

                              Company Number 06677980
                              Registered Office 30 BOROUGH HIGH STREET
                              LONDON
                              SE1 1XU
                              Company Origin United Kingdom
                              Country England
                              County Greater London
                              Borough Southwark
                              Postcode London - SE1 1
                              Company GPS lat: 51.504465, long: -0.09062
                              accuracy: address level
                              More information about company MICROCREDIT LIMITED

                              Company Status Active
                              Company Type Private Limited Company
                              Incorporation Date 20/08/2008
                              Nature of Business 6522 - Other credit granting
                              Credit granting by non-deposit taking finance houses and other specialist consumer credit grantors in London
                              Appointments Show Company documents
                              Board members of MICROCREDIT LIMITED


                              Financial information about company MICROCREDIT LIMITED

                              Accounting Reference Date 31/12 Adding contact information

                              For adding contacts and web pages enter result from the picture.

                              Last Accounts Made Up To 31/08/2009 (TOTAL EXEMPTION SMALL)
                              Next Accounts Due 30/09/2011
                              Accounts document Show Company documents
                              Last Return Made Up To 20/08/2010
                              Next Return Due 17/09/2011
                              Return document Show Company documents
                              Last Members List 20/08/2010
                              Last edited by Amethyst; 5th July 2012, 17:45:PM. Reason: removed advertising piccies

                              Comment

                              View our Terms and Conditions

                              LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

                              If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


                              If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
                              Working...
                              X