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  #1  
Old 20-11-2012, 02:43 PM
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Default OFt launches investigation into Pay Day Loan Companies

It has had to happen. All is not well in the garden of loans until payday
http://www.credittoday.co.uk/article...investigations.

I am sure we will be able to help those who have fallen into arrears and need help.
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Old 20-11-2012, 04:14 PM
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The BBC are reporting same:
http://www.bbc.co.uk/news/business-20406659

This has been going on for so long now...the OFT are too weak with these firms!

About time that the OFT started to take enforcement action and stop faffing about with meaningless warnings and 'Requirements' that are rarely complied with...
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Old 21-11-2012, 09:15 AM
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http://www.thesun.co.uk/sol/homepage...r-tactics.html
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Old 21-11-2012, 10:01 AM
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I can see we will have to be prepared for this next tranche of consumer support.
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Old 21-11-2012, 12:12 PM
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http://www.oft.gov.uk/OFTwork/credit...liance-review/

http://www.workingforwalthamstow.org...to-oft-report/
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Old 25-11-2012, 11:30 PM
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So at last the OFT has now got some balls its a pity they didn't have them over 6 years ago when the Consumer Revoulation started.Talk about let down by a goverment body the OFT stinks because creditors take no fing notice and think they can get away with everything.The DCA's are f'd because of the amount of SB debt that is coming on to the market and the lemons are now getting so cheap sooner or later there will be a surplus.What the OFT apart from growing a pair of balls should now start to regulate from payday lenders to dodgy DCA's trying to collect SB debts and I am waiting for our favorite DCA in Kent to make their next move then I can complete the journey I started.

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The real evil is not the payment of money, but the secrecy attending it (Chitty L.J. in the case of Shipway v Broadwood [1899] 1 QB 369, 373). .

The courts shall not make an enforcement order under section 65(1) if section 61(1)(a) (signing of agreements) was not complied with unless a document (whether or not in the prescribed form and complying with regulations under section 60(1)) itself containing all the prescribed terms of the agreement was signed by the debtor or hirer (whether or not in the prescribed manner

Moneylending transactions as a class give rise to significant social problems.

Astalavista baby and I'll be back
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Old 26-11-2012, 08:00 AM
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I am the same as your Term. I have repaid the PRIBCIPAL borrowed and some of the interest, but because of the 'strange' agreements made pre 2006 I am not paying a penny more to any of these OC's, until they prove in court that their agreements did comply FULLY with the legislation. on DCA who bought a lemon, decided to have a go at me, until I sent back a certain court judgement and the order for damages made by the judge when the claimant took a certain credit card company to court because of their pre 2006 agreements. Since then i have not heard a word in 15 weeks from this DCA and their strong arm enforcement branch. I did threaten i would counter clain against them using the legislation which is allowed. I am so glad we formulated those spreadsheets back when all this started because the spreadsheet ths morning stands at 5,500 I could claim back from the DCA, seeing they now own the lemon. this is interest I paid the OC over the life of the credit card, when the agreement was not compliant with legislation.
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