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Loan repayment.

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  • 07-04-2014 11:09am
    #1
    KwackerJack
    Registered Users Posts: 2,126 ✭✭✭


    So I owe arrears on a loan from last month. I have told the lender that I will pay it on the 24th of this month to bring the loan up to date.

    They have refused my offer and said that 'security' will be knocking on my door, only I have just moved but they still said they will knock at my old address!

    I have yet to forward my mew address details but if they are going to act in this manner I will not.be giving them my details and they can speak with my solicitor.

    So before I go legal, can they refuse an offer of payment and can they knock at a strangers door??


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    #2
    keithclancy
    Registered Users Posts: 9,208 ✭✭✭keithclancy


    KwackerJack wrote: »
    So I owe arrears on a loan from last month. I have told the lender that I will pay it on the 24th of this month to bring the loan up to date.

    They have refused my offer and said that 'security' will be knocking on my door, only I have just moved but they still said they will knock at my old address!

    I have yet to forward my mew address details but if they are going to act in this manner I will not.be giving them my details and they can speak with my solicitor.

    So before I go legal, can they refuse an offer of payment and can they knock at a strangers door??

    They can knock, but you can also inform them that you will be calling the Gardai if they do decide to 'knock' on the door on grounds of harassment.


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    #3
    KwackerJack
    Registered Users Posts: 2,126 ✭✭✭KwackerJack


    keithclancy wrote: »
    They can knock, but you can also inform them that you will be calling the Gardai if they do decide to 'knock' on the door on grounds of harassment.

    Ok great. Do you know if they can refuse my payment offer?

    Thanks


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    #4
    keithclancy
    Registered Users Posts: 9,208 ✭✭✭keithclancy


    They can take action based on whatever is set out in the terms and conditions of the loan you signed up for.

    Might be best to call back and try to speak to someone else, most of the time you can get a different person by speaking to someone else in the callcenter.


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    #5
    slimjimmc
    Registered Users Posts: 7,787 ✭✭✭slimjimmc


    You can also tell them to stay away and if their presence causes you fear (real or perceived) you can have the Gardai onto them.
    http://www.irishstatutebook.ie/1994/en/act/pub/0002/sec0013.html#zza2y1994s13

    They can refuse your offer an insist on the agreed payment schedule but it would usually be against their interest to refuse any reasonable offer should the situation end up in court. However if you have a history of missed payments they could be justified in pushing for payments to be made as agreed.


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    #6
    KwackerJack
    Registered Users Posts: 2,126 ✭✭✭KwackerJack


    keithclancy wrote: »
    They can take action based on whatever is set out in the terms and conditions of the loan you signed up for.

    Might be best to call back and try to speak to someone else, most of the time you can get a different person by speaking to someone else in the callcenter.

    I have been assigned 1person.

    I have told him several times I cannot pay until the end of the month but he still refuses. He is going to speak to his supervisor now.


    It will probably go to court but again I am not refusing to pay and did give a POP so survey the court will see this. ( just an explanation , no legal advice needed)


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    #7
    KwackerJack
    Registered Users Posts: 2,126 ✭✭✭KwackerJack


    slimjimmc wrote: »
    You can also tell them to stay away and if their presence causes you fear (real or perceived) you can have the Gardai onto them.
    http://www.irishstatutebook.ie/1994/en/act/pub/0002/sec0013.html#zza2y1994s13

    They can refuse your offer an insist on the agreed payment schedule but it would usually be against their interest to refuse any reasonable offer should the situation end up in court. However if you have a history of missed payments they could be justified in pushing for payments to be made as agreed.

    I have had several loans and all our completely paid in full and now complete.


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    #8
    slimjimmc
    Registered Users Posts: 7,787 ✭✭✭slimjimmc


    KwackerJack wrote: »
    I have had several loans and all our completely paid in full and now complete.

    I presume that also means each repayment was made on time, rather than a routine of missing and catching up. That puts you in a good position and makes them appear even more unreasonable for threatening to send collectors to come knocking on your (in this case someone else's :D) door over a single late payment, especially when you'll be making a double payment in a few weeks to bring the loan balance up to date.
    They're not going to court over this and I suspect they wont send anyone around either.


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    #9
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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    #10
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    OP do you owe the money to a bank/credit union? If so then missed payments are recorded and this will effect your credit rating.

    If it's an un-regulated money lender/loan shark, then the chances of them knocking on your door will be very real.


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    #11
    dudara
    Registered Users Posts: 33,518 ✭✭✭✭dudara


    Can you clarify who the lender is? This doesn't sound like the behaviour of a proper bank.


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    #12
    KwackerJack
    Registered Users Posts: 2,126 ✭✭✭KwackerJack


    They are Provident Personal Credit.

    Agreement was weekly which is now broken due to (unforeseen family problems) and that I accept but, my offer to pay and bring the account up to date on the 24th was refused on several occasions.

    I advised them I would call the Gardai take legal action if anyone knocked on my door and the previous owner who I contacted said he would deal with the 'security' himself!!


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    #13
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    These are not your run of the mill lender, I suspect given the clientele they cater for they are used to dealing with people who can't/won't pay. At the very least OP I suspect your interest rate just jumped above the 56% and your contract will probably include penalties for missed payments. These guys do not operate the same way as banks and are likely to be more aggressive toward you. All they need to find you is your PPS number which you probably gave when applying for the loan. Don't bury your head in the sand on this one and wait for the court letter, you will not get the same latitude as you would with a bank.


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    #14
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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    #15
    KwackerJack
    Registered Users Posts: 2,126 ✭✭✭KwackerJack


    davo10 wrote: »
    These are not your run of the mill lender, I suspect given the clientele they cater for they are used to dealing with people who can't/won't pay. At the very least OP I suspect your interest rate just jumped above the 56% and your contract will probably include penalties for missed payments. These guys do not operate the same way as banks and are likely to be more aggressive toward you. All they need to find you is your PPS number which you probably gave when applying for the loan. Don't bury your head in the sand on this one and wait for the court letter, you will not get the same latitude as you would with a bank.

    So what are my options? Ive agreed to pay but if they do not accept that well they can send out all the letter they want.


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    #16
    Saucy McKetchup
    Registered Users Posts: 783 ✭✭✭Saucy McKetchup


    KwackerJack wrote: »
    So what are my options? Ive agreed to pay but if they do not accept that well they can send out all the letter they want.

    Do nothing, you've said you'll pay, pay when you have it, they don't have your address, there's nothing they can do about it


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    #17
    Blackjack
    Registered Users Posts: 3,612 ✭✭✭Blackjack




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    #18
    slimjimmc
    Registered Users Posts: 7,787 ✭✭✭slimjimmc


    davo10 wrote: »
    These are not your run of the mill lender, I suspect given the clientele they cater for they are used to dealing with people who can't/won't pay. At the very least OP I suspect your interest rate just jumped above the 56% and your contract will probably include penalties for missed payments. These guys do not operate the same way as banks and are likely to be more aggressive toward you. All they need to find you is your PPS number which you probably gave when applying for the loan. Don't bury your head in the sand on this one and wait for the court letter, you will not get the same latitude as you would with a bank.
    Fred Swanson wrote: »
    This post has been deleted.
    Agreed Fred, I doubt there is any legitimate reason for a lender to have your PPS number and they may be committing an offence by requesting it.

    FAQ: http://www.welfare.ie/en/Pages/Personal-Public-Service-Number-PPS-Number-Frequently-Asked.aspx

    Law: http://www.welfare.ie/en/Pages/Personal-Public-Service-Number-PPS-Number-Legislation.aspx
    This is to ensure that the PPS Number cannot be used for private or commercial transactions.

    • It is an offence for any person or body to request or hold a record of a PPS Number unless they are permitted by law to do so. It is therefore the duty of all bodies to ensure that they are specified in law as being so entitled, before they request or hold a record of any person's PPS Number (See also Section 32 (b) of the Social Welfare and Pensions Act 2007


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    #19
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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    #20
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    Fred Swanson wrote: »
    Unless they are breaking the law on epic proportions, a PPS number is of no use in locating a person.

    They are sub prime lenders with what many would consider extortionate rates, but they are registered as lenders with the Central Bank and the last time I filled out a loan application with my bank, I was asked to give a PPS number.

    Don't be naive, all lenders especially sub prime lenders who offer loans to high risk applicants have investigative personnel. They can find you in a shot.


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    #21
    duffman13
    Registered Users Posts: 8,952 ✭✭✭duffman13


    davo10 wrote: »
    They are sub prime lenders with what many would consider extortionate rates, but they are registered as lenders with the Central Bank and the last time I filled out a loan application with my bank, I was asked to give a PPS number.

    Don't be naive, all lenders especially sub prime lenders who offer loans to high risk applicants have investigative personnel. They can find you in a shot.

    Having worked in a large bank I have to say it can be nigh on impossible to track people down. All banks are required to request a PPS number for an account holder. This is for tax purposes and not to track people. The funny thing is your not under any obligation to provide it. The bank however is obliged to ask.


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    #22
    Fred Swanson
    Closed Accounts Posts: 21,730 ✭✭✭✭Fred Swanson


    This post has been deleted.


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    #23
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    Fred Swanson wrote: »
    There was an article in the Sunday Independent last Sunday about Social welfare employees selling PPS data to private dicks. Highly illegal stuff and some officials are in line for early retirement afterwards.

    That's the one, I didn't want to point out how it was done, lots of insurance companies and lenders also employ ex Gardai.

    Duffman AIB and BOI aren't going to aggressively pursue an errant borrower but sub prime lenders will, they are used to the risk and having to deal with the consequences. They are the first lenders in court to apply for repossessions, there does not seem to be any leeway. OP can take the advice of the posters who say forget about it, move etc but it will not go away. Also I would imagine sub prime lenders look for a gaurantor to spread the risk, OP did you give a relatives address?


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