I defaulted on my Payday Express Loan as I had a large number of outstanding Payday Loans and could no longer afford to keep on rolling them over.
As a result I didn’t pay my Payday Express Loan.
What did I do?
On the day my loan payment was due it failed. There was no money in my account and I had changed over to a different bank so that my account wasn’t emptied, or at least I thought that would be the case.
What happened next?
Over the following months I received numerous e-mails telling me that an agent would call me to discuss none repayment. I also received phone calls asking for payment. This is the same for all the Payday Loans I did not pay so nothing new there then.
I wrote to Payday Express to try to arrange a payment plan but I was not succesful. Quite a lot of charges were added on to my account which I shall be trying to get refunded. I have not had any response to any of my e-mails yet though.
After a few months of me not paying my Payday Express loan the account was defaulted and referred to a Debt Collection agency.
Payday Express empty my Bank Account
I had already moved bank accounts and cancelled my Co-operative Bank debit card. Unfortunately this did not stop Payday Express and their debt collection agency somehow managed to debit my Co-operative Bank account taking me nearly £700 overdrawn.
Nice one Payday Express. As a result of this, and the fact I could not pay back my Co-operative Bank account I got a default from the Co-operative. Two defaults for the price of one. Fantastic.
So it looks like even cancelling your debit card might not be enough so be careful although I believe new rules have come into place to prevent this from happening.
All in all I am very unhappy at the way Payday Express has treated me. They have also ignored my e-mails asking for information about how much they charged me. This has been ongoing for 18 months now.
As I still have not received any form of response from Payday Express, I will be complaining to the Financial Ombudsman and reporting them to the Office of Fair Trading.
Your Experiences of Payday Express
If you have fallen into debt with Payday Express, please share your experiences in the comments box below.
If you are struggling with Payday Loan debt please visit the Debt Help Section of this blog.