CreditStar Payday Loan. Do not pay until you read this

CreditStar Payday Loan. Do not pay until you read this

CreditStar Payday Loan is a small, short-term loan that is intended to cover a borrower’s expenses until his or her next payday. There has been some criticism of these loans in the UK recently.

Controversial payday loans that charge astronomical interest rates of 2,000% or more over short periods to desperate borrowers have become hugely popular since their emergence in 2006, according to a report by a consumer watchdog. Paydayuk.co.uk, for instance, charges borrowers £50 for a loan of £200, which for short-term borrowing is an APR of more than 22,600%.

CreditStar Payday Loan. Do not pay until you read this

 

If you need a CreditStar Payday Loan then you are at a point where you are so short of cash, there is no alternative and whatever you need it for, cash is needed. However, once they have you, they apply multiple tactics to get as much cash from you as possible. So if you have taken a loan and fallen behind on a payment, or they are adding extortiant amounts of charges on your account.

CreditStar Payday Loan. Do not pay until you read this

Illegal tactic they use against you and your credit file

I discovered this completely by accident and a lot of companies adopt this illegal tactic, from debt collectors to payday loan companies. They threaten to put a default on your file, so for the next 6 years, no more credit. However, they are sending to companies like Experian, your details far earlier than they should and putting negative marks on your file. So Experian shows  a missed payment or default on your file before legally allowed, a scandalous move on their part. So try this tactic now and I guarantee you will see your credit score improve immediately, also meaning you can get credit again. I looked for a smaller credit agency, that most importantly, allows you to dispute any/every negative listing against your file online, simply by clicking against the entry, unsurprisingly, I found none of the big UK companies allow this, I assume as their revenue stream would be affected. You need the online method of disputing, otherwise you are spending weeks collecting statements, contacting creditors, sending recorded delivery letters from the Post Office copies to every UK credit agency, in short, a nightmare. If you see any defaults on your file when you go online, click dispute on all of them and it will lodge with every agency in the UK. I disputed everything from payday loans, to debt collectors and had 80% of them removed, all unfairly lodged by the company. I could only find one UK company that provides/allows you to dispute online, but it takes minutes to click all the false entries on your credit report. Opt for the 14 day trial which only costs £1, dispute everything on your file, then cancel the trial once finished, job done. Credit score improved/defaults removed for 5mins work and the price of a sausage roll. The one I used was this one

1. Call your bank and tell them your card has been stolen and you need a new card. Why? The payday loan company has your details, which means without you knowing they will use a POS machine to debit your acc for the loan charges you didn’t know had been applied and you wont know until you try to use your card somewhere and its been declined. With new card details, they wont have them and wont be able to debit anything.

2. You would have had to put your employers address and tel number on the application. This means they will use the tactic of calling your work and trying to embarrass you into paying. Who wants their collegues to know they are in trouble? With one letter you can send it to the payday loan company which will mean they are breach of Section 40 of the Administration of Justice Act 1970, and the Protection from Harassment Act 1997 if they hassle you at work

3. CCA request, stall them further by sending off a CCA request for the original agreement. You will be surprised how many cant and if they cant, you owe nothing.

4. At this point CreditStar Payday Loan will be writing to you request payment. One simple tactic is to call them and say you are under consultation to be made redundant. You are being taken to court for non-payment of council tax and other priority debts. Which means, you only have enough to pay 70% of the original payday loan without any charges. Otherwise they will just have to wait for court outcome and are welcome to wirte to court.