Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
hi, one of my friends told me about this site and i could really do with some help, i took out a few loans with some payday companies and now i can only afford to keep paying the interest each month and i really need to get rid of them. just need to know what i should do, ask them 1st if i can do a repayment plan, change card details etc. im clueless when it comes to this lol! i know this is all my fault but i cant keep just payin interest each month, where do i stand if i cant afford it etc? the companys i took them out from are:
Quick quid, payday uk, payday express and cash genie. a step by step guide would be much appreciated. Thanks
The general rule of thumb is to default and get out of the cycle of reloaning by just paying the interest.
These companies won't like it and will try and take their money anyway. You will need to report you debit card lost/stolen as gives you a fair level of protection. You will also need to cancel any direct debits and check that the companies don't try and reinstate them without telling you.
You are then in a position to negotiate (monthly payments etc). have a read through some of the threads in this forum and you will get plenty of ideas and and some clues as what to expect.
Not easy and they will harrass you if you let them.
Hi.I've just defaulted on a QQ loan.I phoned them to arrange a repayment plan,but got nowhere with them.I've blocked my debit card and asked the bank to keep and eye out for any DD they set up.I'm worried sick QQ are going to clear my account,and I don't want to end up paying bank charges too.Is blocking my debit card enough?The only other alternative I can see is closing down my account which I dont want to do.If anyone can give me some advice on how to deal with QQ in the future,I'd be extremely grateful.Thanks.
Hi.I've just defaulted on a QQ loan.I phoned them to arrange a repayment plan,but got nowhere with them.I've blocked my debit card and asked the bank to keep and eye out for any DD they set up.I'm worried sick QQ are going to clear my account,and I don't want to end up paying bank charges too.Is blocking my debit card enough?The only other alternative I can see is closing down my account which I dont want to do.If anyone can give me some advice on how to deal with QQ in the future,I'd be extremely grateful.Thanks.
One option is to join your local Credit Union - it's a community bank.(obviously you can still keep your bank account concurrently)
You can get your wages paid in there - once you get an appointment you can join straight away so you probably have time by the end of this month.
They also do loans (very low interest and long term) - so they could help with paying of the schmucks you owe money to
In the meantime, write a letter on a word document and email the companies you do owe money to, saying that you cannot pay them and you need to come to a payment arrangement with them. State what you can genuinely aafford - they will no doubt come back with a higher amount but that's where negotiations start.
In the meantime If you have internet banking keep checking every day for DDs - if they reinstate them you just cancel it.
Pre paid debit cards are also good. Give them the details for that and only put money on it, on the days your payment plan payments are due to be paid.
Hi, I had a problem with barclay card about three years ago, they took my payment in triplicate.took me 3 weeks to get the money back.i went to the bank and asked them to change my card as i didnt want them to take any more money,they said that wouldnt stop them.How would reporting my card as stolen stop them?I need to get out of this cycle as i am near to breaking point.By the way my bank is HSBC
In our experince its always best to get a dialogue going with your creditors and keep them up to date with the situation. This can then help them suggest courses of action specific to your individual circumstances.
I contacted PTP when i knew i was going to be unable to pay and was contacted the very next day by a Mr Gavin Armstrong who rang me 3 times in half an hour and threatened me that he would continue to contact me at work to which i said i would report him. I have sent e mails to the others and given them my new pay as you go number so i am not hiding. I am a little sceptical about contacting them after he started threatening me.
Sometimes the phone is the most appropriate method to resolve issues in a swift and clear manner however we appreciate that it can appear daunting at times. it seems as though you are acting in a responsible manner eebeegeebee and hopefully your creditors will see that.
Don't listen to the above. Talking on the phone to someone collecting money is not the way to go. All it does is serve the creditor, who will try and bully you into paying as much as possible so that they get their commision / hit targets. This also includes collection teams at banks.
I wouldn't listen to 247Moneybox.
I talked on the phone to arrange a repayment plan - all well and good until they took both the repayment plan payment and the full amount of the loan.
So much for talking and they cost be bank charges as I had not budgeted for the full payment.
I disagree from personal experience, the creditors in my case wanted to 'reassign the debt' and add a daily charge of £35 onto an already front-ended loan repayment... made it nigh on impossible to keep track of things.
Originally Posted by 247Moneybox
In our experince its always best to get a dialogue going with your creditors and keep them up to date with the situation. This can then help them suggest courses of action specific to your individual circumstances.
Payday Loan Mess! **
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Originally Posted by endlessrain
