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About Me


  1. Hello, I'm a newbie here and also a foreigner. My knowledge of dealing with debt in UK is limited. Please, help. My mother became terminally ill in 2010 and died shortly after. During her sickness I had to travel to the country my mother lived in and pay significant medical bills. I used all my credit cards to the limit and started to apply to payday loans. At the moment I have bad credit history and rely on payday loans to pay my day-to-day expenses. Even my salary is pretty good every month I struggle. As the situation is very unpleasant I became a shopaholic
  2. Hi I was recently contacted by Motermile finance about an old payday loan from 2008. To be honest I'd completely forgotten about it and now there have been charges added by Motermile that i don't agree with. I just wanted to check that if this hasn't been to court and this is the first communication I've had, then surely it's become statute barred? Thanks
  3. http://www.fca.org.uk/news/fca-proposes-price-cap-for-payday-lenders The FCA’s key proposals are as follows: 1. Initial cost cap of 0.8% per day. For new loans, or loans rolled over, interest and fees must not exceed 0.8% of the amount borrowed. This lowers the costs for those borrowers paying a daily interest rate above the initial cost cap. 2. Fixed default fees capped at £15 – Protects borrowers struggling to repay. If borrowers cannot repay their loans on time, fees must not exceed £15. Interest on unpaid balances and default fees must not exceed 0.8% per day of the outstan
  4. Hi I recently received two letters about one old council tax account and one old payday loan, both over 6 years old. I have tried to arrange to pay the council tax bill but the bailiff company wont accept installments and want the full balance. The amount owed is over £700, so I'm sorry but to land that on me after 6 years and expect me to pay in full is ridiculous. The payday loan, i have no recollection of taking out and the debt collection agency have added a ton of fees on so i have issue with paying it. Are either of these debts even enforceable given they're both o
  5. Hi, I recently contacted CFO Lending with regard to a total outstanding debt of £800 that i am struggling to repay. They have offered to let me pay the debt off over a period of four months which initailly i was pleased with. However these payments are still too high for me to afford and I think there may be a way for me to dispute these high payments? Does anyone have any experience of dealing with CFO Lending or any other options available to me? I am prepared to pay off the debt but only at comfortable payments that i can afford. Any help is much appreciated. Thank you!
  6. As you all know, CFO are the worst. I am trying to pay them in full and close my account but because I cancelled their CPA I can't do it using my debit card. My 'account manager' wants me to unblock them and do the transaction over the phone and they will make me a deal. He says his offer expires today and if I don't pay he'll add £80 to my balance. Here's the funny bit, he didn't make me an offer. I told him how much I was going to pay (the balance on the last email I received a few weeks back) and he sort of just accepted it. He got the figure wrong twice so it obviously wasn
  7. It seems Govan Law Centre has taken 23 payday lenders on for a client and had success. And has redesigned their Payday Loan info. And their debt leaflet. Do you fancy challenging them, see how you or a friend or relative may be able to. Or pass the info on. Details here. Listen if you feel like it then take a look at the leaflet. Friday, 20 December 2013 Govanhill success for GLC's Payday Loan Survival Guide as relaunched with Glasgow University's Student Representative Council Govan Law Centre's (GLC) Payday Loan Su
  8. Hi all, In July 2012 I settled an outstanding payday loan (for roughly £350) with 247MoneyBox, after it had been passed on to the debt collection company Equidebt. I agreed the settlement figure with Equidebt and paid it into their account, with the company assuring me they would now inform 247MoneyBox that the debt had been settled. I requested written confirmation of this (which I have since passed on to my employer as part of a security check). Over a year later and I have started receiving letters from a company called Rossendales Collect, informing me that I still have an outsta
  9. Safeloans have been one of the worst in my experience at leaving a footprint on credit files, after much tooing and froing i've received confirmation that all loans were made on a 'running' contract basis up to May 2012 when they apparently switched to a fixed sum loan agreement. What this means in practice is that if they left multiple entries on your credit file pre-May 2012 you can rightfully ask them to consolidate it into one entry. I believe that as i had a single account number and a credit limit for applications that all loans were essentially a revolving credit agreement as
  10. hi, many thanks in advance, i have found this website and was hoping everyone here will be able to help me get out of this terrible trap of payday lenders. i have currently got 7 payday loans with the following companies. payday uk £250 payday express £320 1 month loan £377 safe loans £300 wage day advance £425 mr lender £230 lending streem £312 payday uk i didnt make any payment last month. total debt with pay day lenders is 2214 as well as these debts i have a capital one credit card more 650 balance 150 over my credit limit. and another one that i
  11. Basically, i had issues with my car (which i need for work) and had to get a new one, had a lot of bother with "contact issues" i'll post the email jargon, long read(TLDR also): sorry for that fact , help is appreciated (READ FROM BOTTOM UP): My most recent emai ((included in TLDRl (i was on holiday)), TLDR: "I tried to arrange other repayment, this was there response: Thank you for the email. Your cancellation request of continuous payment authority is not lawful as this is a financial agreement. Please note that a continuous-payment authority is not covered by any
  12. Hi All, I'm a newbie to this forum in that I don't think I have posted anything before, although I have found the advice on here pretty useful in the past - so thank you. I have multiple payday loans and I am successfully clearing most of them in the next couple of months. I have been doing this by effectively only paying them what I can afford and getting them to stop applying additional interest. This is working / has already worked for three of these companies but I have a real problem with one of them who goes by the name of Mr Lender - they are part of PDL Finance. I wa
  13. Hi, I got a loan last year with CFO and was unexpectedly made redundant a month later. I went with a debt management company as I was getting no where trying to stop the interest and arranging a repayment plan. I have been doing this since last August and everything has gone well. Until last Thursday CFO took £300 out of my other bank account as a card payment. I have never ever given them my card details or account details. I am also not sure if it is for my loan or someone elses. I am wondering what my rights are here as I have never ever given them pe
  14. Hello Firstly I am new to this forum but have used it to get through my 2 years of hell and thought I would give something back. I am not offering advice but just an insight into how some of the big companies are likely to respond to you defaulting. My debts were Wonga £1200 PayDayUK £590 Swift Sterling £390 Payday Express £349.50 1 Month Loan £325 Moneybox247 £200 Cash Genie £190 MiniCredit £120 TxtLoan £117 A grand total of £3481.5! I won't go through the story as its over 2 years worth but the fact is I got to this point at one stage. Wonga -
  15. Hi I'm in the process of entering into an IVA (proposals in post to creditors) so I have stopped paying my creditors including a few payday loan companies that I have. I wrote to my bank last week and told them to cancel all continuous payment authorities to these companies and cancelled my debit card. Yesterday MonkeyDosh took 187.50 out my account on my old cancelled card. I rang the bank and informed them that I had cancelled the CPA and blocked my card yet they still took the money, so Barclays cancelled the card payment and credited it back to my account and informed me to
  16. Hi, I am looking for some information on where I stand regarding an unauthorised overdraft. In November last year I took out a short term loan with Wonga in the amount of £420. I then ran in to financial difficulties and knew I would not have sufficient funds in my bank to cover the repayment due to come out. Therefore to avoid making matters even worse I cancelled the direct debit to avoid receiving charges for having insufficient funds to cover the direct debit. I was under the belief that it would then be for me to arrange repayment with Wonga. However, on the repayment date, L
  17. Hi All, Have been reading alot of the threads on here and really appreaciate the information provided. I am in a bit of bad situation, I have about 6 different loans with different paydayloan companies. The higher amounts are with QuickQuid and PaydayUK around 6-800, and smaller amounts with other companies. The first two were taken out just before and after Christmas, at which point I lost my job and had to find another. I rolled over the two loans, which bled all of my wags and wa really struggling day to day. I therefor had to take out other payday loans to both cover the cost of roll
  18. Hi, I am a new user to this website and have found some of the posts extremely helpful. Unfortunately I found myself sucked into the pay day loan trap and ended up borrowing more and more in order to pay off other debts. I am in the process of setting up repayment plans with my creditors and most of the lenders have been happy to accept my plans. I have received numerous email and phone calls from Northern Debt Recovery regarding on of my pay days loans stating that they have taken over the debt. I have agreed a payment plan of £75 per month in order to pay off this debt but not
  19. I currently have a number of payday lenders and have been through the mill borrowing to cover interest, cancelling direct debits for council tax, on a continuous cycle. Eventually just snapped and decided to contact each of my lenders to advise of financial difficulty. Simply couldn't go on any longer paying interest and reborrowing, and now have final demands on council tax and the likes - danger! Mr Lender - Cannot believe how understanding they were, plan agreed immediately Lending Stream - A couple of useless customer reps on the phone but in the end 11 month plans agreed!
  20. Hi. I received a payday loan from Cash Converters a couple of months ago. I set it up so that I would come into the store and repay the loan and interest when my DLA was paid into my bank account... They said that they would need my card details to check that the bank account and card were indeed mine, by taking a couple of pounds out and then replacing it. They also said that they could also take the repayment as a debit card transaction, if I fail to pay, or I instruct them to. I won't give all the ins and outs of what happened, as I don't want to bore everyone to death, but to c
  21. Hi, has anyone been able to set up a payment plan with 1month. Original Loan Amount: £450.00 Initial Interest: £135.00 Further interest added (as a result of default or entering onto a repayment plan): 2 X standard interest: £270.00 TOTAL BALANCE REPAYABLE: £855.00 How can they justify this added interest after I have mention I have hit serious financial hardship as they are not the only one I have a loan with? No-one else has done this? Help please how do I counter this?
  22. Hello! I applied for a payday loan at Capital Finance One and received 300 pounds for the cost of 117 pounds. When it was supposed to be paid back I was given the option to defer the loan by paying the 117 pounds. Later I added 140 pounds on two occasions and I have now had to pay back in total 1605 pounds for a loan of 580 pounds over 3 interest periods. Essentially what is going on is that I have paid the interest, but it's never deducted from the balance when you defer it. They admitted on the phone today that I could have paid it off and reapplied again in order to avoid these fe
  23. Hello, I am in the process of setting up DMP for my payday loans. I have had a reply from Text Loan advising I would owe £554 instead of the £350. What should I do? The email as follows: Dear Richard, Thank you for contacting us. If you require a repayment plan for a period of time exceeding the 60 days of our credit cycle, the full overdue balance to be repaid will be £554, which is fixed as after 60 days the interest and charges are frozen. We are prepared to accept £15.95 monthly payments. Please be so kind as to provide the exact dates we can debit your c
  24. I am a little confused on what to do here. I took out a loan with Payday Express over a year ago now for £500, Since then it has been passed on to a debt collector working on their behalf called CCM, I've been making monthly repayments to them of £75. I have paid off the original 500 and now just owe £175 for the interest. In November I missed a payment of £75, I was waiting until they contact me to put it back in place. However... I am still waiting, it's been 3 months and I've not had one letter or call for them asking for the outstanding balance. What should I do here? I've paid the origina
  25. I received a letter today from H.L. Solicitors regarding a £100 loan I took out with TXT Loan some time ago. First up, the letter they sent me says 'We act for HSBC who have instructed us with regard to your outstanding account with them in the above amount.' HSBC???!!! I found out this was an 'error'. I also found out that H.L. Solicitors will not send me information about the charges added to the account as 'it will be in the T&C's' (I was given the info over the phone though!!!!) and TXT Loans apparently did not provide information about when this debt dates from. Now,
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