Hi, I'm new here so thought I'd just dive right in with my situation and see if there's anybody here that may be able to lend some advice.

So over the past 2 years I'd say, I've collected up some payday loan debts to which all the remaining ones are now on small repayment plans of £1-£5 a month as I'm a student at university.

At some points during taking our these loans I have had summer jobs and reborrowed from lenders with the same details even tho I wasn't in work at the time I claimed I was in order to ensure I would receive the loan.

As I took out some of the most recent loans (Payday UK and Mr Lender) in particular, the other loans were already on smaller repayments plans and my credit score was horrific.

So the creditors I owe too are as follows:

Mr Lender £332

Piggybank £577

Wageday Advance £142

Balmoral Financial £435

Payday UK £435

Safetynetcredit £244

Satsuma Loans/ Moorecroft debt collection £128.24

Some of these I have had for over a year now but I was in a stage where I was going through a gambling problem and suffering with some mental health issues (both are currently going well as of now), and was in a rut where I would be lending straight after paying off a previous loan or lending to pay off other loans companies,

so I feel as though this tied in with my old gambling habits during the time of my mental health issues as well as being an unemployed student that there is some irresponsible lending occurring and that more checks should have been put in place by this loans companies?

My only worry is,

is that I have them all on small repayment programme's now that the company may cancel them and demand all the repayment (which I can't afford) at once.

Or that the fact on some of the applications I had lied about being employed or did not mention that I was to use the money on gambling its my fault not theres.

I'm really not sure at all about this or where I should take it/ what to do with it but its a problem thats been in the back of my mind for a couple of years now and feel like its time I tried to see if there was anything I could do.

Thanks in advance for anybody who has any advice for me.

Charlie.

You don't want to admit providing false information for any loan, as that is fraud as you already know. It does not matter that these loan companies had inadequate systems in place to check your information before the loan was provided. Nothing is likely to happen like informing Police, because generally loan companies with inadequate systens in place don't report such crime. But they might place a marker on industry records for a period ( 6 years) about the false information being provided for a loan.

If these companies are still adding interest and other charges, because the correct weekly/monthly payment is not being made, then the debts will increase. Ideally you need to get the companies to freeze interest and charges being added, so your payments are actually reducing the debt.

Have these companies agreed to freeze interest/charges ?

Have you spoken to Stepchange about any debt relief solutions that might be helpful ?

What you don't want is to have a load of debts still around when you start working, as you will find yourself using most of your wages to repay the debts.

CAG library letters

http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?405-Debt-Collection

if these companies were giving and rolling loans when you already had many loans and a poor credit rating

then irresponsible lending will certainly play a part in this whole scenario.

that's not on.

just remember the bottom rule.

no dca has any legal powers and are not bailiffs

everything in writing only

you need a paper trail . stay off the phone.

dx

HI Mooney - Let me read, and ill come back to you...

FKO... This is my specialist area...

Read more here;

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

Hi Mooney - Did you have a read of the thread i posted? Its an excellent example for you.

However FWIW... Do you have all the paperwork of all the loans you have had?

Hi, about to have a read over it now, I don't think so no.

I have all my details surrounding the loans but don't think I have any actual paperwork