Its all sorted bud, had my repayment plan arranged by somebody called Nate, no phone calls or anything. Its for a 6 month period at £100 per month then to be reviewed. All interest to be frozen as of a couple of days ago. Will save be £500 as was supposed to pay £146 over 12 months. Havent even paid one payment yet... first payment was officially due 31 December but couldnt pay so ended up sorting a repaymeny plan at reduced payments. So first payment of £100 is due tomorrow

Good to read you got there in the end im almost on my 4th out of 12 repayments and to be fair they were pretty good in sorting out a repayment plan for me... just poundstopocket to deal with now

Still having problems with poundstopocket.

Just had to send this (yesterday) after a notice of acceleration qas emailed to me suggesting full balance was now due for payment....

I would also like an explanation as to why this notice of acceleration has been issued, below is part of the contract...i have only missed 1 payment date under this agreement....

DEFAULT ACCELERATION AND LEGAL FEES: * Unless otherwise agreed, you will be in default under this Loan Agreement if you, at any point, have 2 consecutive payments that remain unpaid after a scheduled Payment Date. We will notify you of your right to cure the default and the means to do so. If, at any point after 15 days of being notified, you have 3 consecutive payments that remain unpaid after a Scheduled Payment Date, we may accelerate your loan and call the entire balance due for immediate repayment. Upon acceleration, interest will cease to accrue on the principal balances. Subject to our obligations under the Consumer Credit Act 1974, if you are in default under this Loan Agreement we may exercise our rights to enforce this Loan Agreement, including by commencing court proceedings, in which case you may be liable for our reasonable costs as described in 4(a)(ii) of the Loan Details.

I today sent an email to [email protected] telling them i formally withdraw my cpa authority as i am unable to make a payment to them on 31 Dec. Surprisingly i received an email back within 2 hours saying that they had also cancelled the cpa and requested that i phone the collections department to discuss a suitable repayment plan. they left contact phone number for me but also an email address - [email protected]. So i then emailed them confirming that payments could re-commence 31 jan 14 and the monthly payment could also be increased by £13 inorder to catch up on the missed payment. Strangly got an email reply saying i need to contact [email protected] - whats going on! my loan isnt even with quickquid!!

Hi linda, just read the whole thread and was wondering if u managed to sort out an arrangement with everybody?

Hi san67... can you give an update on what happened??

Ive been thinking - i got ppi refund for my previous loans in dec last year. surely that means when i consolidated everything the ppi was part of all that... soooo i shouldnt have had to "borrow" £10,770 in the first place as some of that was ppi related. surely the managed loan requires some recalculating?? Im basically paying back some ppi and the interest on it as well??

Makes you wonder how they can legally continue to debit money from your account if theres no agreement in place that authorises them to do so

Hsbctrapped - any luck???

Currently i have in the region of £10,000 in total debts;

hsbc managed loan roughly £2,500 left (paying £140 per month)

capital one credit card £2,400 (pay £120 a month)

littlewoods credit card £730 (pay £20 a month on an agreed repayment plan)

wonga £976 (pay £88 a month on an agreed repayment plan)

money shop £162 (paying back £54 a month on an agreed repayment plan)

pounds2pocket £1,530 (10 x monthly payments of £153 a month left)

provident - just over £1000 outstanding on 3 separate loans (supposed to pay £15 per week on EACH loan so thats £180 a month)

greenwoods - again just over £1000 but on one loan at £20 a week (£80 a month)

whilst i can just about manage to cover payments i'm not currently in a possition to pay my greenwood and provident debts. I was chased by the local manager two or three months ago and never came to a permanent solution on how to pay off these debts. im paying off a bit here and a bit there. This month is a real struggle and im hardly going to be able to afford anything. was just wondering if they can insist that i reduce payments to other companies just so i can pay them as well???

Haha have to say your posts gave me a good old chuckle, very funny... i can only dream of owing £200.. i owe them £2,400, its a good job i have a job thats all i can say, if i lost that i would be i deep s**t!!

Thanks ims21 - yes thats exactly what it was. good job the bank of england base rate has been 0.5% for years... thats saved me around £1,700 by a rough calculation

No, the only thing that gets charged to the managed loan is the monthly interest. my balance is around £2500 at the moment with interest of around £16 a month, this interest naturally decreases every month as the balance goes down and down. my question wasnt really about charges or anything... i was just wanting clarification that the full 138 monthly payments wouldnt be applicable as the balance should reach zero way before the full term....

Loan was for 10,770 to pay off existing hsbc debts. from memory i had repayments of 300+ a month which i was seriously struggling with. they basically told me the only thing they could do to bring the monthly payments down was to offer the managed loan. this also cleared existing lian plus a flexi loan account which was basically a £1000 overdraft. yes i have a copy of the agreement. apparently theres no ppi on it tho as ive asked this already. Previous loans with hsbc did do tho and i got back just short of 2000 back a couple of years ago from them

With regards to my managed loan - taken out a LONG time ago... was to consolidate debts back in 2004..

. 138 repayments (11.5 years) at £140 per month.

1st payment was 1 nov 2004 so todays payment is exactly 9 years of payments.

That must mean 30 payments (2.5 years) to go at £140 per month which is £4,200..

Im slightly confused as to why my last statement shows my balance (as of 26 sept 2013) as being £2,676.20..

. does that mean my loans going to be significanly less that the full term??

Is the balance less cos of the low interest rates being applied for the last few years??

With regards to my managed loan - took out a LONG time ago... was to consolidate debts back in 2004... 138 repayments (11.5 years) at £140 per month. 1st payment was 1 nov 2004 so todays payment is exactly 9 years of payments. That must mean 30 payments (2.5 years) to go at £140 per month which is £4,200.. Im slightly confused as to why my last statement shows my balance (as of 26 sept 2013) as being £2,676.20... does that mean my loans going to be significanly less that the full term?? Is the balance less cos of the low interest rates being applied for the last few years??

Currently i have in the region of £10,000 in total debts;

hsbc managed loan roughly £2,500 left (paying £140 per month)

capital one credit card £2,400 (pay £120 a month)

littlewoods credit card £730 (pay £20 a month on an agreed repayment plan)

wonga £976 (pay £88 a month on an agreed repayment plan)

money shop £162 (paying back £54 a month on an agreed repayment plan)

pounds2pocket £1,530 (10 x monthly payments of £153 a month left)

provident - just over £1000 outstanding on 3 separate loans (supposed to pay £15 per week on EACH loan so thats £180 a month)

greenwoods - again just over £1000 but on one loan at £20 a week (£80 a month)

whilst i can just about manage to cover payments i'm not currently in a possition to pay my greenwood and provident debts. I was chased by the local manager two or three months ago and never came to a permanent solution on how to pay off these debts. im paying off a bit here and a bit there. This month is a real struggle and im hardly going to be able to afford anything. was just wondering if they can insist that i reduce payments to other companies just so i can pay them as well???

Does your daughter work and contribute financially?

They took my £88 this afternoon, cant knock them really, was easy enough t

o get myself on a plan and they only took what was agreed

I asked coz i owe money to both greenwoods and provident, and just coz im from bradford doesnt mean i work for them!! jeez!!

Not taken anything yet - i thought they were supposed to debit money at 5am?

No need to mess around with my own form - my repayment plan was accepted and its all detailed on my account when i log in. im slightly worried that there going to take the full amount and not £88 from my account on thurs tho... i dont want to cancel my cpa though as they might cancel the plan if they cant get a payment from my account

Well ive just attempted to complete the online form, i owe just over a thousand and after filling it out and working out that there was 77 pound available for wonga to have some of that the form said minimum payment was 415 per month!!. I had to go back and make up loads of essential outgoings just to get the form to say minimum payment was 88. Thing is now the outgoings say summat like 500 more than im earning!! makes no sense!! but i pressed submit hoping that it will be accepted. will i get an email?

How did things turn out in the end?

Rossco... did u get a result?