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Everything posted by PDLVictim

  1. and Toothfairy keeps on existing, so nothing won really... what a joke
  2. Hi keepcalmanddebtfree, Is it MrLender who said they need some money first before setting up repayment plan? If yes, then what I have written above about them is still valid: They will try but you should not do so. Keep arguing with them and keep refusing to pay any money until a repayment plan is setup - they will give in in the end. Even if it is not MrLender this is obviously true for the other PDL as well. Regarding the payslip you could make a copy and black out the NI number.
  3. Hi hunterandthehunted, These two charges are most likely to be deemed valid and reasonable, but any of their further charges they will add are not. I am not a legal person, but to me the email they sent look like a proper default notice.
  4. Hi MelDo, 50 GBP is reasonable and will most likely be accepted by Wonga to repay 880 GBP debt with interest and charges frozen.
  5. Hi AJ2012, PaydayUK should be no problem at all to setup a repayment plan. They are a big company and usually quite easy to deal with. Have you tried the email-address [email protected] ? 24/7 Moneybox are more difficult to negotiate with. For me they only did a repayment plan over 2 months and only over the phone (which I would not advise unless you are confident with phone call). Have you tried the email addresses [email protected] or [email protected] or [email protected] ? I have no experience with CFO lending, but have not read any good about them.
  6. Hi MelDo, 1) Cancel your debit card (report them lost). This will prevent Wonga to take the payment on the 29th. Also write to the bank that you withdraw the CPA for Wonga. 2) Wonga is not obliged to accept repayment plans but they will do it. They will not charge interest while you are on the repayment plan and they do repayment plans up to 18-24 months. Simply send them an email that you are in unexpected financial difficulties and would like to request a repayment plan with interest/charges frozen. They will send back their I/E form which you complete (voluntarily) leaving over for them the amount you find suitable and send it back. They will then confirm the repayment plan. Always only pay them by standing order to their bank account.
  7. Hi keepcalmanddebtfree, Here are the email addresses I would use: Wonga: [email protected] copying [email protected] Lendingstream: [email protected] PaydayExpress: [email protected] PaydayUK: [email protected] MrLender: [email protected] copying [email protected] I am not sure if there is a template letter on this site. As a first contact it really just have to be a short email, something along the lines of: "Subject: Loan ID xxxxxxxx - Request for repayment plan Dear Customer team, I would like to inform you that unfortunately I am in unexpected financial difficulties and will be unable to repay my loan with you on DDMMMYYYY in full. I would therefore like to request a repayment plan. I can offer you XX monthly payments a XX.XX GBP per month, starting on DDMMMYYYY. In order to enable me to repay my loan with you I would also like to request that all interest and charges are frozen. Please let me know if you are able to accept my offer. Please also let me know your bank account details so I can set up a standing order for the repayments. Thank you for your understanding and Kind regards NAME"
  8. Hi keepcalmanddebtfree, Here is what I would advise: 1) Secure your money BEFORE you inform the companies about your difficulties. This involves cancelling your debit card(s) (you might have them "lost") and also writing to your bank to withdraw any CPA for these companies. When doing so state explicitely the companies in this letter to the bank and hand the letter in personally if possible requesting confirmation of receipt. Also check your bank accounts regularly for any DD these companies might set up. 2) Only communicate to the PDL companies in writing. 3) Send each company an email informing them of unexpected financial difficulties (do not go into too much detail here) and that you would like to request a repayment plan over xxx months and that interest and charges are frozen. You can also send them a very basic income/expenditure form, but take care to have in this form only enough left for the PDL what you would like to have as amount for the repayment plan 4) Here is my advice for the different lenders. I am assuming (as you want to repay over 12 months) that you have 120 GBP available each month. Wonga does repayment plans over 18 months, so ask for 18 months a 18.33 GBP per month. They will request their I/E form to be completed, I think this can be done but take care to leave only 18.33 GBP to be left. LendingStream does repayment plans over 12 months, so opt for a monthly rate of 41.67 GBP. Your online statement with them will show different (higher) amounts during the repayment period, but do not worry and keep your repayment plan email agreement as proof. Paydayexpress does over 12 months, so go for 21.67 GBP per month. PaydayUK does over 18 months, so go for 13.06 GBP per month. MrLender does over 12 months so go for 9.58 GBP per month. MrLender will try to convince you that you have to rollover three times before they can put you on a repayment plan. That is obviously rubbish, stand your ground and you will get a plan from the start. 5) Only pay them by standing order to their bank account, never give them card details. Even while negotiating start doing these monthly repayments 6) If you go with the above plans you will have 15.69 GBP left over per month, even if that might not be much money, put it aside to save this money, so you have some money left for any future upcoming unexpected expenses (so you do not need PDL companies in the future)
  9. Hi Wantout, Per their terms and contract they should have charged 354 GBP but I know they will continue charging full interest (72 GBP per 14 days) until fully repaid. Apart from reporting them to fos for this, I would try to send them an email via their web site (avoiding trigger words in order not to get a standard reply) and ask them to correct the outstanding amount to 354 GBP, although I do not have much hope here. The next option is to repay 354 GBP in 2 weeks time and then continue fighting to have account closed (though they will add 72 GBP and further charges every 2 weeks).
  10. Hi lioness, What I did with Pounds2Pocket was that I set up a different free bank account (e.g. Bank Of Scotland), put just enough money into that account for the repayments to them and gave them these bank details for direct debit. I also have to say that Pounds2Pocket, when taking direct debits, always only took the amounts agreed (but that is maybe just me ). Anyway, different to card payments and CPAs with direct debit the bank usually return these if you want to so the risk is quite low. Depending how many months you have left on your agreement with them, they will always offer to skip one month of payment and put this to the end of the loan term. Also their charges for late payment are quite low (12 GBP with no additional interest added to it), so by deferring one rate to the end of the month and paying rates one month late you can gain up to two months more time to repay. After 6-8 weeks late they usually defer then to DCA. Also you might want to know that if only the last rate is outstanding this can then be directly with them (not DCA) put into a repayment plan over up to 6 months usually. Alternatively if only last rate outstanding you can offer them Full and Final settlement of e.g. 75% of that rate which they are likely to accept.
  11. Hi Hunterandthehunted, I would try to get repayment plans with wonga, quickquid and safe loans over 24 months. Write emails to them explaining your change in your financial circumstances and ask for repayment plan over 24 months with interest and charges frozen. E-mail negotiations with them will take 1-2 months. In the meantime use the 130GBP per month to repay first minicredit and then wageme (as these are difficult to deal with).
  12. Hi boxman, Do not worry about Wonga or QuickQuid, you will get there at the end, they are fairly easy to deal with. Keep emailing Wonga to send you the form per email, they will do so, it just takes them some time. Regarding MrLender do NOT pay them their token payment to setup a repayment plan. They always ask to rollover several times before they can set you on a repayment plan, that is obviously rubbish. They can put you on one right away. They do plans over 12 months. Keep emailing them making them a repayment plan offer, e.g. 12 months and do NOT pay anything until they agreed to a repayment plan. The plan you offer should be for original loan amount plus one month interest, nothing more. State in your email that as you are offering a repayment plan and have informed them about your financial difficulties you are expecting that interest and charges are frozen. Send them several emails a day, they are a small lender and very busy, they will give in at some point.
  13. Hi siennasmummy, This may sound tough but I would rather skip the holiday than take out a payday loan. Yes, she is losing 600 pounds deposit and yes, she is losing her holiday, but as time goes by there comes better times and future holidays. I took out a payday loan of 100 pounds more than three years ago and it cost me about 30000 pounds in the end. I ended up rolling over and reloaning with over 15 companies. I so wish I had not done this, so from that experience I can only advice to skip the holiday and not to borrow any money from PDL.
  14. Hi kriket1 If you arrange a repayment plan with wonga they will mark your credit report as "payment arrangement". This is nearly as worse as default for your score. To take out a payday loan from another company to pay wonga and protect your credit rating is not a good idea I think. This is exactly what I did three years ago and it ended up with paying 30000 pounds for a 100 pound loan in the end. Wonga will mark default in your credit file only if you are 90 days behind. So I think in your case the best option might be to ignore them for now, so they do not put you on a repayment plan. In about one month they will send you an email then from [email protected] with a link where they offer you a discount of 20-30 percent if you pay in full. Use this then to pay and you have probably nothing on your credit file or only a marker "1 month late"' which is far better than "payment arrangement" for the score. FYI - the reason why you could not exten it he first place is that due to the new guidelines they do not rollover that many times any more. To avoid this, pay in full on payday and immediately reloan, though I do not advise to use them at all obviously.
  15. Hi gaz0609, They will wait for 2-3 months until they pass it on to DCA. And I did my repayment plan with them only by email.
  16. Hi JohnAMiller, Ignore that email for now. Keep to the repayment plan agreed and that is it.
  17. Hi plugman, theoretically they could have it recorded as 'Payment arrangement', but I doubt it. It can definitely not go in as default.
  18. Hi JohnAMiller, Do not pay anymore rollover fees or charges to them and communicate in writing. They will try to insist but in the end they will give in. They do repayment plans over 12 months and I would offer (and insist on it) to repay the original loan amount of 650 GBP in either 10 instalments a 65 GBP or in 12 instalments a 54.17 GBP (depending on what you can afford). I would ask that the remaining charges/interest should be discounted at the end of the agreement (they did this with me and it worked). Only pay by standing order to their Barclays account. Depending how much you can afford you can also offer a full and final settlement of 60% (i.e. 390 GBP).
  19. Hi chez60, As a guidance here are the repayment plan timelines I had with them: Mr Lender: 12 months. Peachy: 12 months. Txtloan: 8 months. Minicredit: Did not agree, payed back in full. Payday UK: 12 months. Regarding Peachy all I sent them was a simple Income/Outgoings overview showing my priority debts and my other PDL debts and basically ending up with an available amount left for Peachy over 12 months.
  20. Hi chez60, Here you go: Mr Lender: Sort code 20-95-61 Account 23824616 Peachy: Sort code 20-03-53 Account 43882942 Txtloan: Sort code 40-21-03 Account 42028948 Minicredit: UKash vouchers only Payday UK: 60-00-01 Account 39524906
  21. Hi Joannebrown1982, Legally you do not have to provide the payslip to LendingStream. Also legally no PDL has to accept repayment plans. That said it will help in the negotiations if you provide the payslip to LendingStream together with a simple Income/Outgoings list showing that you can only repay over e.g. 12 months. LendingStream is easier to come to a repayment plan than PaydayExpress. Depending on who the other PDLs are, what you owe them and how much you have available to repay each month, I would rather try to get reduced repayment rates from the other PDL and offer PaydayExpress a full and final settlement of 60%.
  22. Hi renegadeimp, Indeed, I am so much better now. Also thanks to all the help I have received here
  23. Hi Lottielox85, I understand you have 90 GBP per week (or 360 GBP per month) to repay those. This should be more than enough to get out of this! You have to approach these companies differently, as not all will negotiate or agree with your repayment offers. As manontheweb already mentioned, some it is better to wait for the DCA. Here is what I would do: Wonga £561: They will send you an income/outgoings form to complete. When you do this please take care that your available income to repay non-priority debts is not higher than the repayment rate you want to achieve with them. They do plans over 18-24 months, so I would suggest to end up with them with 31.17 GBP monthly. Do not give them your card details, but pay by standing order to their bank account! Txt Loan £198: They do repayment plans over 12 months. Negotiate by email only and offer them 16.50 GBP per month. Pay only by standing order to their bank account. Keep your repayment plan acceptance email they will send as they might try later on to question the agreement! easy Finance - they say over £1000 with their illegal charges we say £90 left to pay: Pay them 1 GBP token payment to their bank account every month. After 1 year offer them 100 GBP in full and final settlement. Speed credit - again they say over £1000 we say £210 left to pay: They will not agree to repayment plans. Pay them 1 GBP token payment to their bank account every month. Hope that they lose their license later this year If not, after one year offer them 250 GBP in full and final settlement. Payday uk - £250: They do repayment plans over 18-24 months. Offer them 13.89 GBP per month and only pay by standing order to their bank account. Lending stream £600: You will not get back the 200 GBP. They do repayment plans over 12 months. Offer them 22.23 GBP per month and pay by standing order to their bank account, once repayment plan confirmed with them. Ignore the online account balance as this will vary. Keep all email communication. Wage day advance £310: They do agreements over 12 months. Offer them 25.84 GBP per month. Pay by standing order to their bank account. Take care: They will set up a direct debit every month three days before your salary/income is due for the whole amount. You have to cancel these direct debits manually. Mini credit £570: They will not agree to repayment plans in the region you need. Request their hardship form and complete. Offer them 1 GBP token payment if they freeze interest and charges at 570 GBP. Once you have through one year of this (and repaid some of the other lenders) offer them a full and final settlement of 60%, e.g. 340 GBP. Piggy bank £590: Offer them 49.17 GBP over 12 months and only pay by standing order to their bank account. So overall this is 161.80 GBP per month over the first year, and then a bit less later on. You had 360 GBP so keep the remaining 200 GBP in a savings accounts for the next time you are in trouble so you do not need PDLs again. Try to negotiate as above and keep calm. These are unsecured loans, there is a way out and your health and family is more important than these PDL. If they harrass you, send them stop harrassment letters or get a new phone number/email address.
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