Pounds till Payday **

[Meggie_Moo]

Hi Everyone

 

Im completely new to this site but I am so glad I have found it and know I am not on my own!!

 

I have 3 payday loans and have fallen in to the same trap as many others so I have been having to reloan every month. I am at the point where I cannot keep my head above water and am sinking fast.

 

I owe:

PTP £450

Payday UK £540

Uncle Bucks £350

 

+ any interest.

 

I have decided that it is time to put a stop to this constant worrying as it is starting to make me ill and miserable and I dread each payday and the struggle that follows. It's just one big vicious cricle.

 

I know a number of people have decided to make a stand and stop paying the full amount every month and have attempted to make payment arrangements and was hoping that you could point me in the right direction. There are a number of abbreviations used that I am struggling to follow and would be really grateful of an idiots guide on how I start to approach this and where I can get letter templates to send to these companies.

 

Many thanks in advance

[looby_lou]

Hi Meggie-Moo.....cancel your direct debits with the bank immediately, also cancel your debit card (tell the bank it has been stolen).

 

Email the companies in question, advise them of your situation and make a payment offer - ask for all correspondance to be kept in writing and ask them to remove all telephone numbers from their system.

 

You will feel so much better knowing that you are in control of the situation rather than the other way round.

 

I only had one with PTP but i feel so much better now knowing my wage is mine.

 

I am still battling with PTP but all phone contact stopped as soon as i emailed and from reaidng other threads they appeared to be the worst.

 

Good luck and there will always be support on here!

[annie37]

can someone please help me,stupidly i got a payday loan with payday express for 400 inc 100 interest.total 500.but unfortunatly they are wanting payment on 31st december,which am afraid to say i just havent got the money to pay.am barely coping with christmas as it is with family and everything.thats why i stupidly used these people.i emailed them 3 times to try and sort something out,and tell them that 500 will not be in my acc if they try and take it out on that dat.and could i either extend like it says you can on the website.or come up wih a payment plan.however they never replied to 3 emails i sent to them,and i hate ringing these companies,as they always put words into your mouths dont they?anyway i had too earlier to try and get an answer.anway in the end she just said i would still have to pay the amount on the date i agreed to pay.i said what if when you try and take the cash out,theres no money in there.like there wont be,she said we will just keep trying.what do i do people?i do want to pay this off,as i know its my fault for getting it.but i just havent the money now to pay it.and am worrying myself to death.please anyone give me advice and help me i beg.:o

[looby_lou]

Read my post above - it explains exactly what to do. First off don't panic - you're in control! Ring your bank and cancel the direct debit, also ring them and advise them that your card has been stolen.

 

One that's been done, write /email them and advise them - explain your situation and make your offer of payment, on this correspondance also tell them that you require all correspondance to be in writing and that you will not be discussing the matter over the phone.

 

Don't stress! I was the same but felt so liberated when pay day came around and i had control.

 

[annie37]

Hiya...thanks so much for replying back to my posting,the payday loan company i got the loan with is with payday express.i wanted to just keep to emails with them,but they never seemed to reply to the 3 emails that i started to send as from yesterday.and i wanted to get it sorted before christmas and before they wanted to try and take the money out 31st december.as it just wouldnt be in there to take out,as i am totally skint.thankyou so much for your help.why did they say to me on the phone that they would still have to take the money on 31st when it clearly states on the website anyway that you can extend these loans.so from now on i only email them,and ask them like i already have if they will accept a payment plan do you think?thankyou for caring and taking the time,i feel so alone

[MsWeatherwax]

can someone please help me,stupidly i got a payday loan with payday express for 400 inc 100 interest.total 500.but unfortunatly they are wanting payment on 31st december,which am afraid to say i just havent got the money to pay.am barely coping with christmas as it is with family and everything.thats why i stupidly used these people.i emailed them 3 times to try and sort something out,and tell them that 500 will not be in my acc if they try and take it out on that dat.and could i either extend like it says you can on the website.or come up wih a payment plan.however they never replied to 3 emails i sent to them,and i hate ringing these companies,as they always put words into your mouths dont they?anyway i had too earlier to try and get an answer.anway in the end she just said i would still have to pay the amount on the date i agreed to pay.i said what if when you try and take the cash out,theres no money in there.like there wont be,she said we will just keep trying.what do i do people?i do want to pay this off,as i know its my fault for getting it.but i just havent the money now to pay it.and am worrying myself to death.please anyone give me advice and help me i beg.:o

 

 

^^^^ Exactly what Looby said ^^^^^

 

Seriously, don't panic. It's no big deal really - I had several of these loans, and it took me a year, but I got them all paid off, nobody came banging on my door, nobody took me to court and I came out of it a much wiser person, lol.

 

Get the card and direct debit cancelled first, then keep us updated - we'll help you with whatever happens next (which will probably be some annoying phone calls, but I don't imagine even this lot work over Christmas, so relax and enjoy the holiday).

[MsWeatherwax]

Hiya...thanks so much for replying back to my posting,the payday loan company i got the loan with is with payday express.i wanted to just keep to emails with them,but they never seemed to reply to the 3 emails that i started to send as from yesterday.and i wanted to get it sorted before christmas and before they wanted to try and take the money out 31st december.as it just wouldnt be in there to take out,as i am totally skint.thankyou so much for your help.why did they say to me on the phone that they would still have to take the money on 31st when it clearly states on the website anyway that you can extend these loans.so from now on i only email them,and ask them like i already have if they will accept a payment plan do you think?thankyou for caring and taking the time,i feel so alone

 

Please don't extend the loan. You'll never escape.

 

Yes, just email them with the payment plan (make sure it's realistic and that you're able to stick to it. If you can't afford to pay ANYTHING until the January payday, tell them so). If they don't reply, email it to them next week, NOTING ON THE EMAIL YOU SEND that they haven't replied to your last email. Email them the offer once a week, every week until you

 

a) Get a response or

b) They get shut down by the Government for money lending (I know, I know, but it's my Christmas wish!! )

 

Save all your emails and keep printouts.

 

In the New Year, open a new bank account to protect your income. For goodness sake, don't re-loan, or extend it. It's a killer trap to get into.

[annie37]

:)thankyou so very much for caring and giving me such good advice,ave just emailed them again.told them i only want to deal with emails from now on,and told them that i would like to set a payment plan each month at the end of the month with how much ave told them.ave told them that if they try taking the money out of my acc on 31st december,they just wont be successful.so this would be a better plan for both of us,at least then it gets paid each month.hopefully they will email me back,but i am not ringing them back again from now on.emails only for them.if they dont get back in touch with me,then i will email again next week.and again until they email me back.at least am making the effort hey.we all learn in life dont we?but i guess i just feel so scared and stupid too.i just want to have a decent christmas with my family without this on my mind too.happy christmas to you all too.annie x

[MsWeatherwax]

:)thankyou so very much for caring and giving me such good advice,ave just emailed them again.told them i only want to deal with emails from now on,and told them that i would like to set a payment plan each month at the end of the month with how much ave told them.ave told them that if they try taking the money out of my acc on 31st december,they just wont be successful.so this would be a better plan for both of us,at least then it gets paid each month.hopefully they will email me back,but i am not ringing them back again from now on.emails only for them.if they dont get back in touch with me,then i will email again next week.and again until they email me back.at least am making the effort hey.we all learn in life dont we?but i guess i just feel so scared and stupid too.i just want to have a decent christmas with my family without this on my mind too.happy christmas to you all too.annie x

 

There's loads of people on here who've had MULTIPLE loans with payday lenders (myself included!), so you can probably stop feeling stupid now. There's also no reason to be scared. It's only money, they print more of it every day, as someone once said to me.

 

Relax, enjoy Christmas with your family and look forward to sorting this out in the new year.

[Guest sheerdrop]

when people advise changing bank accounts is this neccesary? i.e. would cancelling the direct debit and advising card is stolen not be enough? I would be surprised if a bank would allow an unauthorised deposit from your account.

[sillygirl1]

Sadly no, you need to change bank accounts as the company have your bank details and will 'dip into' your account from time to time to see if there are any funds, and take the lot... it has happened even when cards have been cancelled so getting your salary paid into another account puts you back in the driving seat.

[JMW69]

I really would advise you to cancel the debit card so they can't take payment- these companies won't set up a plan until you have defaulted.

i had exactly the same problem with PDEX and after i defaulted i sent them a payment plan offer with income and expenditure all spelt out via my email and said only contact by email to keep my records.

they replied and accepted it to start the following month by standing order. They were very reasonable with me when they saw my income form . don't be worried just cancel your card before the pay day for definate or they will attempt to take it.

if you report your card lost the bank should give you a pin number to draw money without it to drawy money one time until new card arrives.

Good luck you will be fine - i have handled 6 loans this way and all have accepted without harrassment only got quick quid to sort now.

merry christmas :grin:

[looby_lou]

when people advise changing bank accounts is this neccesary? i.e. would cancelling the direct debit and advising card is stolen not be enough? I would be surprised if a bank would allow an unauthorised deposit from your account.

 

It wasn't neccessary for me, i didn't even cancel my card as i knew 100% i had never given them my card details. That was for a PDL with PTP

[Willo53]

Hi Guys,

 

Just got an email from PTP with an default attachment stating that my default sum is £59.00 and the total amount owing is £578. The original loan was only £400 so they are doing well for themselves already.

 

This was from someone called David Robinson, would this be my account manager? I am unsure as on a seperate text message it did say the payment services department, so may not have been passed to an account manager yet.

 

Another email just arrived from them stating I had 5 days to pay up and the default sum would be removed and I could re-loan the very next day, how nice of them!

 

I am right in thinking I should give them the payment plan email ( I propose 2 months payments) and quote that no calls will be accepted and all numbers must be deleted from file?

 

Still have not received a phonecall from them yet and I my loan was due on the 18/12!

 

All advice welcome.

 

Cheers

 

Willo

[mashmallow]

Sorry if I have butted in, but more people should know how to deal with these vermin breed. I built up my courage from this forum and I thank all the people on here for there support and help, I don't know what would I have done without CAG and the site team. I was in the same boat tearing my hair out every month and getting deeper until I stopped paying all of them. Touch wood they have all agreed to a payment plan they have no choice really. I opened a new bank account and lost my card, because they have been known to reset up DD's and still used your existing card. Yes this should not happen but it has so protect yourself and get your money paid somehwhere else. I even had the pleasure of going on Despatches to prove what these monleys do and how they behave but sadly I only had about 5 mins after 4 hours of recording. Never mind Pay Day Express and the likes of others are a bit more well known thanks to Deaptches and the Sun Newspapers, they all fall into the same category "Sharks".

 

Anyway Don't let them worry you, have a good Christmas on them.

 

Cheers to all.

 

Mashmallow XXXXXXXX

[MadonnaFan]

Well said Mashmellow!

 

Sorry to hear you only got 5mins out of the 4 hour recording....At least you got some information over to other people...

 

Good Luck everyone

 

Have a nice christmas and happy new year all x

[robjam1969]

Sorry if I have butted in, but more people should know how to deal with these vermin breed. I built up my courage from this forum and I thank all the people on here for there support and help, I don't know what would I have done without CAG and the site team. I was in the same boat tearing my hair out every month and getting deeper until I stopped paying all of them. Touch wood they have all agreed to a payment plan they have no choice really. I opened a new bank account and lost my card, because they have been known to reset up DD's and still used your existing card. Yes this should not happen but it has so protect yourself and get your money paid somehwhere else. I even had the pleasure of going on Despatches to prove what these monleys do and how they behave but sadly I only had about 5 mins after 4 hours of recording. Never mind Pay Day Express and the likes of others are a bit more well known thanks to Deaptches and the Sun Newspapers, they all fall into the same category "Sharks".

 

Anyway Don't let them worry you, have a good Christmas on them.

 

Cheers to all.

 

Mashmallow XXXXXXXX

 

 

The more adverse publicity on pay day companies the better It is worrying that companies like Quick Quid are now routinely adverising on Sky Sports and probably other channels as well.

[Guest sheerdrop]

I really dont think changing account should be neccessary, according to the direct debit guarantee you can cancel payment by writing to the bank. I think "dipping into your account" would be verging on theft and the bank would/should be in trouble for allowing this to happen.

 

Due to a small business I run I have many peoples bank accounts, not that would try, but I am sure I cannot just dip into these accounts because I have their details.

[PlumFairy]

I really dont think changing account should be neccessary, according to the direct debit guarantee you can cancel payment by writing to the bank. I think "dipping into your account" would be verging on theft and the bank would/should be in trouble for allowing this to happen.

 

Due to a small business I run I have many peoples bank accounts, not that would try, but I am sure I cannot just dip into these accounts because I have their details.

 

I agree, the problem is that they do.

 

Many of these loans don't set up DDs, but do everything by debit card details and the banking rules for these are slightly different. Trust me..... I've been stung once.

[Guest sheerdrop]

I agree, the problem is that they do.

 

Many of these loans don't set up DDs, but do everything by debit card details and the banking rules for these are slightly different. Trust me..... I've been stung once.

 

 

sorry I seem as if I am going on too long on this one but, in regards to PTP (which this thread is about) they do set up DD.

All I am saying is for this particular thread, the chances are the folk that use PTP will have issues with credit, so opening a new bank account may not be too easy and I feel saying to these people that they must change their bank account because PTP will take money from their account may cause undue worry (PLEASE THOUGH REPORT YOUR CARD AS STOLEN CAUSE THEY WILL TRY TO TAKE MONEY FROM THIS IF YOU DONT!)

 

Anyways sorry for the rant and MERRY CHRISTMAS

[PlumFairy]

Merry Christmas

 

I understand what you are saying and I stand corrected over PTP and DD

 

Anyone can open a basic bank account no matter what their credit rating/history is.

 

Maybe PTP are different (although my dealings with them suggest not). I had repayment plans set up with two of these 'companies', who went against the plan and decided to wipe out my bank account. The same has also happened to others on the forum, so please forgive us if at times we are rather 'cynical' over what they will and won't do

[Willo53]

Quick Update:

 

Dear Willo,

 

Thank you for choosing Northway Broker (trading as Pounds Till Payday) and

Northway Financial Corporation Ltd. for your short term financial needs.

 

The loan issued to you that became repayable in full on 18.12.09 is now in

arrears. We value your business and wish to retain you as a customer.

However, this situation needs to be resolved immediately.

 

We will immediately cease all action against your account upon receiving full

payment of the outstanding balance. Please contact our office immediately to

arrange for full payment so that you can retain your good credit standing with

us. We wish to continue to provide you with all of the services that were

previously available to you as our valued customer.

 

Pounds Till Payday does not offer rollovers or deferals; if payment is not

received in full, your account may be escalated to an external recovery agency,

please refer to the loan agreement you signed when the loan was issued to you.

 

 

 

Sincerely,

 

David Robinson

Account Manager

 

...........................

 

I have already sent them an email stating that I wish for no contact via telephone,strictly written only. I have put forward a proposed 2 month payment plan two pays; one for january and one for February to pay the full balance off. Does anyone have any dealing with Mr David Robinson, I am quite relieved it is not that Maguire fella, but maybe my happiness may be false!

 

Any advice welcome.

[ray singh]

yeah email the guy personally, [email protected], add in the correct templates harrasment, and doorstep, copy in customer care, so u know someone recieved it, this "should" as it did in my case... so far...... stop anymore calls(although i sent email umpteen times, the calls only stopped when i copied in the guy that called me and i guessed the email adress!, however looks like it got to himm as i have heard nothing since, granted it is xmas/new year, but it didnt stop them calling christmas eve....then you just wait for clarity...... job done

[ray singh]

I have already sent them an email stating that I wish for no contact via telephone,strictly written only. I have put forward a proposed 2 month payment plan two pays; one for january and one for February to pay the full balance off. Does anyone have any dealing with Mr David Robinson, I am quite relieved it is not that Maguire fella, but maybe my happiness may be false!

 

Any advice welcome.

 

 

 

ps, dont bother with two payments stretch it out, they wont record this on any file, and at least your making them wait... id say 20 per month, dont pay 2x large payments, you'll just leave yourself short and possibly risk ending up loaning again, of them or another pday lender... stop the rot, offer them minimul payment and enjoy the new year... remember DONT put yourself under pressure, relax, offer them what you can easily afford, if thats 20 per month then so be it, they cant put u in prison they cant take your possesions they will only try to take your sanity... which only you can give them... so DONT

[Willo53]

Thanks Ray,

 

I was thinking they are probably going to refuse the two month payment plan anyway, as they are usually stubborn about receiving the whole amount or nothing. So I was planning just to put the money to one side and if they choose to put it to a DCA them I will re-evaluate it.

 

I have emailed my account manager yesterday with the offer of the payment plan and the letter stating no calls and to deal solely by written correspondence. This may sound a touch premature but I have no phonecalls and just one email fro PTD from a default date of 18/12. I know I will probably get my fair share soon!

 

How long is the general rule of thumb for the timescales that it gets passed to clarity?

 

Cheers Guys,

 

Willo