I echo what 1980 said. i have had many payday loans and when i reached difficulty i came up with my own repayment schedule - i offered something like £40 a month. They have the philosophy of wanting some of their money back, they know that they cant get blood out of a stone. If you go debt management, they often offer £1 a month and this is stupid as a. they get v little back and b. you are often extending a typical £200 debt over 3-4 years.. Has anyone completed what is called a financial statement with a payday lender? This i have been asked for by bigger creditors before and it summarises what you have got coming in and what you have got going out.. and the idea is that it comes up with a figure that you can afford to repay...