Hello,

I'm a newbie here and also a foreigner.

My knowledge of dealing with debt in UK is limited.

Please, help.

My mother became terminally ill in 2010 and died shortly after.

During her sickness I had to travel to the country my mother lived in and pay significant medical bills.

I used all my credit cards to the limit and started to apply to payday loans.

At the moment I have bad credit history and rely on payday loans to pay my day-to-day expenses.

Even my salary is pretty good every month I struggle.

As the situation is very unpleasant I became a shopaholic as well and instead of reducing my loans spent money on unnecessary goods.

I think I had long enough buried my head in the sand and want to finish this debt spiral.

My current credit cards are having very small limits £500-1000 and close to the limits but don't have any arrears,

I have two overdrafts for £1500 with HSBC and 2370 incl. 250 emergency borrowing with Barclays and used to the limit just a days after payday as as my earning go to pay short-term loans.

I had a loan from my son to repay payday loans but it wasn't enough at the time and after few month I ended up having several payday loans again.

At the moment I have

myjar -£1700 with an interest,

2 loans from Satsuma - £1100 each plus interest, one is half-way through, another just taken last month,

Ferratum - £540,

unclebuck - £450 plus interest,

wagedayadvance -£930 due tomorrow,

quickquid - £850 plus interest.

4 payday loans are due tomorrow with the total amount of the repayment of £2000.

I can't pay them as I don't have enough money on my account.

I tried to cancel CPAs but HSBC refused to do so.

They cancelled my debit card instead.

I wrote to all of my payday lenders.

Only unclebuck came back so far with the request to discuss my budget on the phone.

I refused to talk on phone.

Also two credit cards from my past are sold to DCAs.

After reading this forum I realised that I'm paying PRA Group and 1st credit without any reason as they probably are unenforceable as they are defaulted many years ago.

And even I pay 1st credit every month they post a default on my credit card.

I plan to set up repayment plans with each payday loan company and may be send them letter about irresponsible lending.

What are my first steps?

Thanks in advance,

Angelica

your 2nd to last line get IR claims running

go open a parachute account at the co-op or post office

you can do this online

get your wages paid in there

stuff HSBC

and take control of your money

dx

Thanks dx. In order to start IR process do I need to wait for any offers from payday loans' companies or any demand letters? As per today I paid all on-time I don't have any payday loans unpaid, tomorrow the situation will change.

get one running to each company

most important thing is get that parachute account operational

get all your money OUT of anyone elses hands.

stuff HSBC deal with them latter

move any DD's out to a SECOND parachute account is best

then you can control those too.

I already moved all money I still have to Barclays. Applied for co-op account online and was declined.

For IR letter do I need to request the loans history first or can I just list all my loans. Also had some loans in the past, e.g. Wonga, Lendingstream which currently rejected my applications but lent me many times in the past. Can I write to them, too?

Thanks

Angelica - Welcome to the PDL Forum - I wrote the guide DX has given you and helped with quite a few reclaims.

Stop paying the Payday Loans... If you need any further advice or have any questions - Please shout... Get your money out of that account as quick as you can and just use your Barclays ACcount for now.

Could you let me know what status you are at with each? How many loans you have had? Which firms etc?

Hi fkofilee, thanks for your post.

I've listed most of my loans in the first post.

Some of the loans' installments I've repaid already this month but run out of money and tomorrow I won't pay another 4.

At the moment I try find out what all companies I used in the past.

Definitely Wonga, Lending Stream, Payday UK, Payday express and Swiftsterling.

This month I fully repaid Trusted Quid loan, Safetynet overdraft, Cashasap loan and first installment on rolled forward Quickquid loan.

Tomorrow myjar loan's installment due, 2 satsuma loans' installments, wagedayadvance balance after 2 deferrals and Cashfloat instalment.

Also I've borrowed £600 from Safetynet and £400 from Cashasap again this month but they are not due until September.

I wrote to those of them which installments are due tomorrow that I can't pay this month.

Also I sent emails to few companies I used in the past that I will make a complaint and asked for the list of loans (not a SAR).

looking at that list

i'd be very tempted to reduced ALL payments to anyone.

your IRL complaints are pretty much guaranteed to see 90% of the loans written off totally

Oh wow... You really are in the thick of it...

Mind you i have seen much worse. Your credit file will be shot for 6 years but not much you can do about that now.

Well done for wising up. The debt spiral will now be stopped and its time to start reclaiming

Have you read the guide yet?

Put say £50 - £60 aside for SAR requests - You may need them

I will help where i can but just like you i also work so if i dont respond instantly then dont worry.

Create a folder with each lender either on your computer and scan in info about letters etc or create a paper folder for your records. Get organised and you can dig yourself out.

looking at that list

i'd be very tempted to reduced ALL payments to anyone.

 

 

your IRL complaints are pretty much guaranteed to see 90% of the loans written off totally

I agree with DX on this one. Drop any payments to the minimum - £1 as these are not priority debts.

If they dont like it - Tell them to go play in traffic

Thank you for a positive and welcoming message.

My credit file has been bad for years,

it's not something new for me,

I can't get any credit cards or bank loans for ages,

I was worried at the beginning, but stopped now.

I decided to rebuild my life and I will.

At the moment I have one default from 2013, all other payments to date but I still can't apply to any cheap credit.

I read the guide, it's very good.

On another forum I copied an email for the first step before I've send SARs.

I really want to see how much I paid PDLs for these 7 years since I stupidly took the first one in despair.

It will give me strength to go to the end.

I will keep you updated and ask a lot of questions. Hopefully it's OK.

Good on you

Dx

No its not okay to ask questions... Its never okay to ask questions... Said no one ever

You are welcome to ask as many as you want and i will try to field them - If not DX may be able to assist along with other members of the forum

Focus on your reclaim. When the forest of letters and barrage of emails come stating you need to pay and we will register defaults Blah Blah Blah - Keep your head high...

There are rules in place to protect the consumer... as this is known as the "HCSTC Market"

Read up on it if you ever get a chance and it will change your whole perspective on whats happened with you