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Too many Payday Loans Please Help. **


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Hi Suz

 

Thanks for the advice, as it is i am already budgeting hense being able to offer the lenders a decent and affordable amount and i think if i lost anymore weight my mum would through a fit as i have lost so much already through worry and stress.

But i get what you mean.

 

Thanks

 

Aine

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Hiya Aine,

 

What Suzanne is talking about (apart from the dietary advice which like robjam I may follow as got to many of those lbs - ironic when I do not have enough £s! :p) is snowballing and is one way of approaching this (although if you are going to do this I would still suggest start at the smallest and work your way up - starting with the one who penalises the heaviest or makes the most noise just perpetuates these behavioural extremes!).

 

No problem with snowballing and it works for many but with a lengthy list of firms in this "sector" the path you are on is generally the more productive. As others have said you are making reasonable offers, continue to remind each of them that this is the case, and keep chasing the one's who are not responding (you will feel more in control doing this and therefore better - also presents a very good paper trail if they are ever brave enough to try and take you to court!).

 

Only share three of your "lenders" in my very long list - Uncle Buck (already expressed an opinion, likely along with what I have read about PTP and QQ to be the most difficult), Mr Lender (akward rather than difficult) and WDA (agreed a plan quite quickly but when advised being varied due to DMP they tried to take further monies on a cancelled and destroyed card :eek:). Almost all of mine have agreed to some form of repayment plan (and a couple have actually ended up paying me ;))

 

Having said all of that the consistent theme from all of us so far is not to worry - they will make a lot of noise and try to worry you into paying them first, warning of dire consequences. Do not let them do this - ultimately this is only money. The good folk here (and my own research) have taught me very quickly that particularly when I am paying back something every month at a level that I can afford the majority of these folk would be very misguided indeed to take any formal action against me and this is the same for most of us!

 

 

Sleep well, keep posting as things evolve :-D

MJC 007.5 :cool:

 

Advice or opinions offered by mjc 007.5 are personal, offered in good faith and without prejudice or liability. Your decisions and actions are your own and should you be in any doubt then please seek the opinion of a fully qualified and insured professional

 

:) If you think I have helped you please feel free to click on my scales :)

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I have to agree with all above, at the end of the day if you haven't got the money, they will have to accept what you pay them. They are making money out of you the moment they accept you and forward any loan or advance. They are banking on most of their customers being unable to pay, because their APR rates reflect the target customers they are aimed at. Our banks are encouraging these sort of loans, because now it seems that your friendly bank account manager does not exist. I say this because you can apply for a loan online 24 hrs a day and get a positive or negative response within seconds. Our lives are now so greatly affected by automated computer control, a computer does not understand or take into account changes of circumstance, therefore these companies have florished over the last decade. My bank account has been passed over automatically to Lloyds collections because some computer say's a loan account has £7 outstanding, which has totally f****** my credit rating. Of course this computer cannot possibly be wrong!!! My point being that the whole issue of dealing with money has been de-personalised, In the past you could go into your bank and have a quick word with the manager to explain your sudden change of circumstances and you would be able to negotiate some sort of temporary overdraft or short term loan. Now this facility is not available we are becoming victims of these payday loan sharks. If this government stepped in and put a APR limit on all financial institutions, it would be a start. I investigated a couple of these payday companies and was horrified by the APR. They are no better than loan sharks, yet can opperate within the current law. But when you have no choice you are certainly at their mercy. I've managed to avoid them to date, but like everyone says don't worry, it's not worth losing sleep over, because although it may not seem like it, things do get better.

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Thanks for all the advice i have recontacted the lenders that have yet to reply again explaining my situation and await there reply. I just look forward to sorting this mess and not being in this posistion again.

 

Aine

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Hi all

 

Quick update, Wageday Advance have reinstated there DD which i have re-cancelled Qick Quid have mailed saying they cannot accept any payment other then DD or debit card??? but i dont want them to have my card details. Does anyone know whatelse i could do? I still haven't heard from some of the lenders, i have re-sent emails again advising this is the 3rd time of me trying to contact them and come to some arrangement.

 

Thanks

 

Aine

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Good morning Aine,

 

You are doing well, stick to your position :)

 

  • Wage day advance - not suprised but well done for spotting and heading them off at the pass.
  • Quick Quid - nice email back advising that if they are refusing to accept standing order payment they are frustrating your attempts to reduce the debt and as such you have no option but dispute the balance and any charges (if not already). As they will not accept the fastest method of payment you can now provide (ie standing order) then the only options open to them are either crossed postal order or personal cheque (ideally someone elses cheque and pay them the cash). If they will not accept any of your payment methods they are frustrating your attempts to resolve the matter and preventing you from reducing the debt.
  • The remainder - just keep sending the same message, daily if needs be. Most will eventually either accept your proposal, pass to DCA or meet you half way

Most of all, stick to your proposals and do not them dictate to you. Reasonable offer of repayment with documented chain of refusal and unreasonable behaviour from company equal empty threats and hot air from them! :rolleyes:

 

Bye for now

MJC 007.5 :cool:

 

Advice or opinions offered by mjc 007.5 are personal, offered in good faith and without prejudice or liability. Your decisions and actions are your own and should you be in any doubt then please seek the opinion of a fully qualified and insured professional

 

:) If you think I have helped you please feel free to click on my scales :)

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Hi All

 

Quick update, wageday advance have emailed me saying -

 

Hello Kerry

 

We will not set anything up until after your due date.

 

Regards

 

Richard King

Collection Manager

 

surely because i have given them more then 2 weeks notice i can disoute any interest or penaulty fee that add?

 

Any advice would be great

 

Thanks

 

Aine

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Hiya,

 

This is a standard tactic (I found across this and the more "mainstream") amongst lenders in that if does not matter if you are being pro-active and trying to sort it out they actually will not start working with you on any kind of repayment arrangement until you default! :mad:

 

"Contractually" they are within their rights because agreeing a repayment arrangment before the customer defaults is effectively agreeing an early variation of contract and they are not obliged to do that. Morally and ethically they should be agreeing to work with customers who are big enough to have their "lightbulb" moment, realise they cannot pay and approach them to come to mutually agreeable arrangement. Moral and ethical practice amongst lenders, well maybe one day? :eek:

 

I would email him back thanking him for the reply but expressing your disappointment that they are not prepared to take a positive approach to a customer with difficulties who has been pro-active in contacting them to notify of this and try and make a payment arrangement. You could get quite militant, but I would initially continue to appear firm but reasonable (the trick is to appear reasonable in case the matter goes further whilst continuing to stand up to them and not take any of the usual bunkum that is served up when the customer gets into difficulty!). Reiterate the offer of what you can afford, that this remains open to them to accept at any time. There is no harm adding that given your pro-active approach even if they are declining to set anything up until after the default you would expect them to take a positive view of freezing/minimising any charges/interest. In the meantime keep watching like a hawk, they will continue to try and take money from your account claiming some form of "continuous authority" (usually from a higher place but with very little legal basis! :rolleyes:)

 

Once you have defaulted and they have added charges/attempted to send the balance vertically then personal choice - I would dispute the balance/charges, if needs be by same process used here for bank charges (does not usually come to that - once repayment arrangement in place balance of power is at least equal if not in your favour and they are often receptive to reductions, full and final offers etc).

Edited by mjc007.5
grammar

MJC 007.5 :cool:

 

Advice or opinions offered by mjc 007.5 are personal, offered in good faith and without prejudice or liability. Your decisions and actions are your own and should you be in any doubt then please seek the opinion of a fully qualified and insured professional

 

:) If you think I have helped you please feel free to click on my scales :)

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Hi,

I too am in negotiation with wda. I defaulted last month, and so far they have not added any interest or charges. I did make a token payment of 5.00 whih they have noted. I have sent copies of my income and expenditure and other credit commitments. However, they are saying they havny received it (may send another copy recorded. Hang on in there, I know its stressfull at the moment but im sure we will both live to tell the tale. I advise you to have your wages paid into another account though, if only for your peace of mind. Keep an eye out for direct debits being set up, wda have done this twice so far to me. The man I spoke to said the computor will keep doing this until they collect payment.

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Hiya,

 

Agree with hotmamma (welcome by the way :)) only real avenue for piece of mind from their underhand access to your account is to change accounts for your main income. Can be a pain but will provide complete piece of mind! :p

 

Interesting take on the underhand attempts to access your account from man at WDA ..... the computer did it! :rolleyes::rolleyes: My experience of them to date has been the same - relatively easy to agree repayment plan but they did continue to try and take money from my account even whilst a repayment plan was in place! :evil:

 

I understand why hotmamma and others choose to accept requests from these firms to provide I&E and if that is working for you then great but they do not have any right to this info at all and unless via a debt charity I would not let them have it (they will usually find cause within it for you to "adjust" your figures to pay them more - one of these firms even suggested I do not pay a priority bill for a month to pay them off! :rolleyes:). As long as you have worked out the offer based on a realistic I&E that you feel comfortable would be seen as realistic by a debt charity or judge (bearing in mind you are allowed some life as well as paying priority debts) then stick to it and remind them you are not obligated to share with them how you got there unless via a court!

 

Stick with it, seems like most of us are getting there :)

Edited by mjc007.5
typo

MJC 007.5 :cool:

 

Advice or opinions offered by mjc 007.5 are personal, offered in good faith and without prejudice or liability. Your decisions and actions are your own and should you be in any doubt then please seek the opinion of a fully qualified and insured professional

 

:) If you think I have helped you please feel free to click on my scales :)

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Hi,

I have completed my i and e with the help of the cccs. Have had on success so far. Payday express have been very kind and accepted my offer of 5.00 a month. Am still yet to hear from quick quid as they will only accept payments by direct debit or debit card. Its good to hear im not alone:)

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HI hotmamma,

 

your not alone in this and like you said we will live to tell the tale quick quid have advised me of the same payment methods so will have to send them a postal payment me thinks....does anyone know where to send this by the way?

I'll keep posting so you can see where i'm up to.

 

Good Luck

 

Aine

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Hi aine

 

I would be tempted to wait till quick quid pass to DCA - usually 1st credit who are at least in the UK. I cca'd them when they contacted me and have heard nothing for 3 months apart from an acknowledgement.

 

as they are American unlikely their agreements will stand up here and perhaps won't perdue small amounts.

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  • 1 year later...

Hi. I am having the exact problems with mini credit. I owe a few payday companies money and have really messed my life up. All I can suggest is to remain calm.

 

You cannot pay what you cannot afford, I have realised that no matter how much they threaten you, they may take you to court, but that will cost them money, if they took everyone to court who they chraged ridiculous amounts to, they wouldn't be able to afford that themselves. I rang them myself to arrange a payment on my next pay day to pay in full. I was paid wrong at work and so couldn't afford it that month and told them that and said I would pay the full £165 or so the next payday, they replied saying that by the time it was my next payday, I would owe them over £400! This was for a loan I took out for £100. I tried reasoning with them, the horrible lady on the phone wasn't having it. I have had numerous sleepless nights and have even cried a hell of a lot for a guy (no offence ladies) but now it has come to the point where I cannot actually do anything so I can't worry. Beacuse I have tried reasoning with them.

 

Please does anyone have a direct email address to them?? As when I log into my account, it won't let me send an email to them, but when I email them at the support-at-minicredit dot co dot uk I get an automated email reply saying I have to go through the homepage which I have tried about 30 times! Do they have another email addresS?

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www.bellyup4blues.com Just Go There !!!

 

Woolwich Prelim Sent 5.12.2006 !!!

S.A.R - (Subject Access Request) sent 22.12.2006 (yeah I know)

16.1.2007 £1000 offer rejected

LBA sent 31.1.2007

N1 presented to Court 15.2.2007

Won / Settled 2 days before court date

£5200 plus int charges returned.

 

All and Leics S.A.R - (Subject Access Request) sent 22.12.2006

2nd S.A.R - (Subject Access Request) sent 15.1.2007

Statements received

Prelim sent 31.1.2007

LBA Sent 15.2.2007

Won £1500 on receiving court date..

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  • 9 months later...
Can anyone tell me how to access some of these template letters please

 

Hi and welcome to CAG

 

Dependant on what you require, most of the letters are in the library (top left)

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

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Hi and welcome to CAG

 

Dependant on what you require, most of the letters are in the library (top left)

Thank you. I only need a few months to close these down, are they likely to freeze the interest or am I going to end up getting deeper and deeper into debt the longer they take to clear?
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Payday lenders seem to think they can do what they want so it's a case of keep everything in writing.

PD lenders will slap on horrendous interest and charges. You can challenge this

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

Please help CAG. Order this ebook. Now available on Amazon. Please click HERE

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  • 2 months later...

hy i have the same problem i have paydayloans with paydayuk , wageday , speed credit and capital finance ....any advice what can i do? i just can afot to pay all of them in 1 month....

 

any advices welcome. thanx

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You need to write or email them ( never phone them) and tell them you are in financial difficulty and need more time to repay. If they ask for proof of difficulty, dont give it to them. They are not entitled to it.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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They can try and chrge you. Just dont ve intimidated into paying it. Remember, you are in charge NOT them.

 

The second you let them dictate things theres no point being here asking for help.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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ok i will email them and see what they gona tell me.....in 2 or maybe 3 months i am sure i can pay all the money back so i will go with this option and tell them that i need 2-3 months to pay all my debt.

i will update ass soon i recive a response.

 

thanx again and sory for my writting :)

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