I doubt if they will say that the debt will be settled. They are only out to make money, so I would go to the CCCS and ask their advise. I was paying the interest only for over 6 months and still they say I owe them the full amount plus interest - hence they now get a pound a month. One of them has taken me to court so now the interest has been stopped and they still get a £1.00 a month as that is all I can afford when I am on benefits.

We took a loan out with Welcome last year with all the PP etc - my husband and I both lost our jobs in Oct and now am getting constant calls from them regarding repayment. They are getting £3.00 per month from us (which is generous considering everyone else is getting a pound) but they still keep adding the interest. Have got to the stage where we r waiting for them to take us to court - then they have no choice but to accept what we can pay and not charge any more interest.

I have also fell into this trap and having now lost my job have been advised by the CCCS to offer £1.00 per month. I have set up standing orders to pay all 3 of my payday loan companies but so far have heard nothing from them since doing so 6 months ago. As I am making a regular payment there is not much they can do. So good luck