i took a loan out with safety net credit in january 2017 for £100.

I used their service every month and paid back on time.

They kept increasing my lending amount by roughly £100 every month till october.

I am now at the point of lending £900 a month and paying back £1100 a month.

It has spiralled out of control

..i get paid between 2-3k a month depending on overtime.

I am not sure saftey net credit is a payday loan or classed as an overdraft facility.

My stupid mistake i turned to them last year as no other payday loans would accept me..they ask for all your online banking details.

Reading through a few forums i am wondering if i could put an IR lending complaint to them?

I have roughly 5/6 defaults on my account from old payday loans which i am in the process of dealing with.

I would of had alot searches in 2017 as literally safety net credit was my last resort.

Every month the loan would come out of bank and i would have to borrow straight away,

after i paid all my rent and bills i was living of the loan money.

I have alot of online gambling transactions and these loans were often used for that.

Should safety net credit not been aware of the above by doing credit checks and they also have my banking details to check bank statements?

Now on 29th jan this month i have a payment of £1150 to pay them and i simply cannot afford this and keep living this way.

Do i cancel my cards and CFA with my bank and online banking.

Contact them and explain my situation offer a monthly payment plan and try get a IR complaint running?

Or do i keep paying them i dont want to pay massive fees if i default so might be best to keep paying them and keep reducing my lending amount

Any advice is much appreciated

Thanks

Cancel payment

Stop gambling!!

Do the IL complaint

Yes they are licensed s a HCSTC lender...

From what you describe i would say it is IRR Lending Reclaim situation

Have a peek at my signature for the guide to IRR Lending Reclaims.

With SNC - You need to update your security criteria for your bank - Change your passcode and security word etc

They access your bank account via this method.

Contact your bank over the phone and in writing to remove CPA from the card issued and for good measure ask for a new card and cancel your old one. (While it doesnt remove CPA necessarily, it maybe beneficial)

FYI

https://www.consumeractiongroup.co.uk/forum/attachment.php?attachmentid=69475

Thank you for the quick replys. I will get this running ASAP

I wish i would of found this site many years ago..you guys do a fanstatic job.

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