• I had to repeatedly roll-over a loan. This shows that I could not afford to take out the initial loan in the first place as I couldn’t make the payments
  
• I had to borrow from another payday lender in order to pay off your initial loan
  
• The loan was a large portion of my income meaning I couldn’t pay it in time as I would not have been able to buy food, pay your mortgage or bills etc (up to 5/6th my income in a single PDL, with multiple at any one time)
  
• Failing repayments, paying lots of late charges, then being accepted when applying immediately after again
  

• Should I even both searching for information on loans for companies gone bust
  
• Should I be contacting companies whereby I still have a loan outstanding
  

(Companies in bold I still have outstanding PDL)

(1MonthLoan) Sunny

247 Moneybox

Cash Genie

Cash Lady

CashChoice

CFO Lending

Early Pay Day Loans

MiniCredit

MrLender

Payday Express

Payday UK

QuickQuid

Safetynet Credit

Speed-E Loans

Swift Sterling

Toothfairy

MyJar (Txt Loan)

Uncle Buck

Wayday Advance

Wonga

Other Credit Lines

I also have had a lot of credit cards and bank overdrafts. These are now all "up-to-date" and a plan has been put in place to repay them.

Company / Total Owed / Now Owe / Type of Credit Line / Comment (CCJ)

Luma £ 250.00 £ 250.00 Credit Card

Aqua £ 300.00 £ 300.00 Credit Card

Lloyds £ 2,700.00 £ 1,890.00 Overdraft CCJ

Capital One £ 950.00 £ - Credit Card CCJ

Egg (Barclaycard) £ 742.00 　 Credit Card 　

Nationwide £ 710.00 £ 710.00 Overdraft 　

Natwest £ 1,060.00 £ 1,060.00 Overdraft 　

Next Steps

I will now complete the following next steps

1. Obtain bank statements (I can already get 3 years Nationwide and 5 years Natwest but will request SAR from all 3 bank accounts I have held)

2. Contact all companies requesting full detail of my account (all previous loans/repayments and anything still outstanding)

3. Contact Credit Reference Agency Experian to get last 6 years so I can review loans and check whether the proper checks were made.

So... with all that information, does anyone have any further advice, next steps, or things I am doing wrong?

One of the more experienced team will soon be along to advise about the pdl's but as for the other lines of credit, i would suggest a new thread for each one as this will soon get very confusing and messy.

You can SAR each of the organisations/banks etc, the capital one based cards will all be under one sar.

You can sign up to noddle and clearscore online for free but note that searches only stay on file for 2 years

With regards to the bank accounts, reclaiming fees is no longer possible unless you can show financial hardship but you can reclaim any CC fees

Any questions, just ask, you seem on the ball so far

One of the more experienced team will soon be along to advise about the pdl's but as for the other lines of credit, i would suggest a new thread for each one as this will soon get very confusing and messy.

You can SAR each of the organisations/banks etc, the capital one based cards will all be under one sar.

 

You can sign up to noddle and clearscore online for free but note that searches only stay on file for 2 years

 

With regards to the bank accounts, reclaiming fees is no longer possible unless you can show financial hardship but you can reclaim any CC fees

 

Any questions, just ask, you seem on the ball so far

Good point. To be clear I am not asking about any other lines of credit in this thread except the PDLs. They were there just for everyone's reference so they have a full picture.

Always a good idea to read other PDL threads to see how things work and so you get an idea of what to expect.

I wouldnt suggest writing to all of them at the same time, once youve read a good few threads, start with the ones which seem easiest to deal with.

Hello Ostirch and Welcome to CAG. Well done for wising up.

I have been doing a lot of work with PDL Reclaims recently and would wonder if youd give us more information on how much has been lent by each company, how many rollovers etc...

- Gambling Involved?

- Issues with Other PDL Companies? Spiral Debt with more than one PDL Company?

- How much was your income on a monthly basis compared to the loan? (Were you ever unemployed)

- Did you ever give incorrect info to acquire a loan?

- Rollovers... How many?

Also please read....

http://www.consumeractiongroup.co.uk/forum/showthread.php?457677-Im-looking-for-some-advice-Piggybank-Sunny-Wonga

This was a wonderful case that is very similar to yours.

Thank you everyone for your support so far!

- Gambling Involved?

Yes, during the whole period and up until very recently when I have sough professional help for both Gambling and Depression

- Issues with Other PDL Companies? Spiral Debt with more than one PDL Company?

As a minimum I would have 2-3 PDLs at any one time (sometimes up to 6). Could never keep up with payments unless I was 'bailed out' by my family

- How much was your income on a monthly basis compared to the loan? (Were you ever unemployed)

Never unemployed. I was earning approximately £1,200 after tax and single highest loan at that time was £1,000 - with the fees and multiple loans I sometimes loaned more than my income.

- Did you ever give incorrect info to acquire a loan?

I often gave correct income and usually expenditure, however recently did give inaccurate expenditure.

- Rollovers... How many?

Multiple. Wonga was once 7 months in a row, MiniCredit 6 months in a row and WageDayAdvance is right now at approximately 8 months in a row.

I am currently investigating this to give more accurate information by a) requesting statements of account from all PDLs, and b) investigating bank statements

Update:

Earlier today I have contacted the following companies via email requesting a Statement of Account:

Sunny (1MonthLoan)

247 Moneybox

Cash Lady

CFO Lending

MiniCredit

Mr Lender

Payday Express

Payday UK

QuickQuid

Safetynet Credit

Swift Sterling

MyJar (Txt Loan)

Uncle Buck

Wayday Advance

Wonga

Update #2

I have just gone through the last 6 years of my Natwest bank statements and have highlighted all payday loans and repayments, what is the best way show them here?

How many PDFs is it?

xx

How many PDFs is it?

xx

2 (Banks) x 12 (Months) x 6 (Years) soooo 120!

I have the summary in an excel spreadsheet (just the loans and repayments) and no confidential information

PDF / Excel with just the summary would be awesome!

Do you know a site I can upload documents so you can download and see?

Convert them to pdf's, (free converters online if u need one) and upload them here, just hit go advanced, bottom right, you'll see if you scroll down a little

It takes time but put the work in and hopefully youll get some results.... i have.

HI Ostrich

Any update?

Sorry guys that it's taken a while...

I got my Bank files however there was an awful lot missing, so I have waited to get information from the companies themselves and I just got the last lot.

Please see attached summary.

- Items in green are 'estimates' as I still don't have a response

- Items in Orange/Red are loans still outstanding

Total Loaned: £20,659.23

Total Repaid: £27,326.40

Total Net: £6,667.17

Still Owe: £3,200 + Interest

Total Interest Paid/Due/Owe: £9,867.17 + Interest in outstanding loans

PDLs.pdf

To confirm I now have the following:

Bank Statements

6 years (excluding a bank I have closed down)

PDL Statement of Account

From all except WageDayAdvance (I have an outstanding Loan from them still amongst others)

Credit Report

Received from both Noddle and Clearscore

Also one question to answer... I am possibly coming into a reasonable amount of money (few thousand) Should I pay the outstanding loans off, or is it good to hold off paying as it enables me more negotiation (especially with say, WageDayAdvance)

NO to paying the loans off - other than any current running one. Wait for further advice from others on this forum.

Good Morning

Its up to you whether you pay any off at this point going forward, however you will end up with late payment or default markers etc.

Now that you have that info or most of it, compile it down to each lender and follow the guidelines in this thread.

http://www.consumeractiongroup.co.uk/forum/showthread.php?457677-Im-looking-for-some-advice-Piggybank-Sunny-Wonga

There is a similar letter there that could be used but you need to amend it to your circumstances. Just sending off the bat will not work.

So twig it to something more to what happened to you.

Good Morning

 

Its up to you whether you pay any off at this point going forward, however you will end up with late payment or default markers etc.

 

Now that you have that info or most of it, compile it down to each lender and follow the guidelines in this thread.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?457677-Im-looking-for-some-advice-Piggybank-Sunny-Wonga

 

There is a similar letter there that could be used but you need to amend it to your circumstances. Just sending off the bat will not work.

So twig it to something more to what happened to you.

Shall I send the letters via post or email?

Also... I'm struggling to find the letter in that thread, can you let me know the page?

Thanks

Hi Ostrich...

I'm afraid I'm going to have to be a bit direct

No... I will not guide you to it. Read the entire thread through and see exactly what has happened...

Follow the idea of the thread.

We are a self help site I'm afraid...