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HI all,

 

Long time viewer, first time poster.

 

Currently, I have 6 outstanding payday loans. I owe money to Countrywide, Wageday Advance, Debitcard Loans, Tower Capital, Txt Loans and Safeloans. My monthly commitment to these lot is about £350.00 just repaying the interest!

 

Firstly I admit I owe them money and i want to pay them off but simply havent got the money. After reading the forum it seems the way to go is to default on the agreements.

 

My payments are all due on friday and I am basically after advice on what to do. My first port of call is going to be to cancel the direct debit WDA have on my account. I am going to do this later today. I will be phoning the bank as well to tell them i have lost my card. ONly problem is that i believe they may force a payment throug, however, last month I changed my bank card as it split and none of them took a payment. In view of this should i worry?

 

What letter do you think i should send them? I have worked out that if they freeze charges, which i doubt they will, i can pay £25.00 per month to each and they should be cleared within a year.

 

Can anyone share any advice on what will happen and how best to deal with it?

 

Please any advice would be welcome as i am at the end of my tether. I want to break the cycle of extending the interest payments.

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I have just cancelled it online, message received was

 

Your request has been successfully received

space.gif

Your Direct Debit has been cancelled and no future payments will be made.

 

Please select an option from the left-hand menu to continue Internet banking.

 

So first step taken

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Bit more info.

 

Just rang my bank and advised them i have lost my card.

 

Asked whether anyone would be able to claim money from it. She said yes should be ok. Bugger!!!

 

I have now set up a standing order online and i am hoping my wages will transfer to my savings account before the vermin get there hands on it

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Hi

 

I also bank with Lloyds TSB and I had to cancel my card with them when I defaulted on my payday loans.

 

When you reported it did you report it lost / stolen?

 

If so then no money should be able to be debited from it Lloyds confirmed this to me. To set your mind at rest give Lloyds telephone banking a ring and tell them you have cancelled your card and ask them if anything can be debited from it. Tell them you are concerned as you are about to be paid shortly and want to make sure the money cant be taken and emphasise to them that if anything is taken from it then you will consider it a fraudulant transaction - get them to record this in your notes. They do sometimes say that this is not possible but it is I assure you.

 

Anyway I am sure that your money will be safe (I had no problems and did it twice!!) the phone call will just give you that bit of confidence in it.

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I have just cancelled it online, message received was

 

Your request has been successfully received

space.gif

Your Direct Debit has been cancelled and no future payments will be made.

 

Please select an option from the left-hand menu to continue Internet banking.

 

So first step taken

 

Don't want to be the bearer of bad news but direct debits that are less than 3 days away generally still go through even though they have been cancelled.

 

If it does happen though, just go to the bank on Friday and tell them to reverse it and they will, the money will appear back in your account overnight into Saturday.

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Well I phoned the bank and they told me a different story in that they should not be able to take money. Anyway he was more interested in trying to sell me Identity Theft Cover!

 

This morning is the morning i default on my loans. I have had three texts and two calls chasing payment.

 

Ready for the long slog.

 

Anyone got a template letter which i could use and send

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  • 1 month later...
Well I phoned the bank and they told me a different story in that they should not be able to take money. Anyway he was more interested in trying to sell me Identity Theft Cover!

 

This morning is the morning i default on my loans. I have had three texts and two calls chasing payment.

 

Ready for the long slog.

 

Anyone got a template letter which i could use and send

 

I was with Lloyds Tsb and reported my card stolen but low and behold a month later they let txtloans take £246.00 from my card i reported stolen and left my hugely overdrawn. So be very very wary i would get a new bank account and get all monies paid into your new account.

 

Also Tower capital will take you to court i have had a loan with Tower capital and defaulted on it and they have taken me to court so just a heads up on that one.

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I was with Lloyds Tsb and reported my card stolen but low and behold a month later they let txtloans take £246.00 from my card i reported stolen and left my hugely overdrawn. So be very very wary i would get a new bank account and get all monies paid into your new account.

 

Also Tower capital will take you to court i have had a loan with Tower capital and defaulted on it and they have taken me to court so just a heads up on that one.

 

I hope you are fighting Tower mighty royals - there default notices are generally crap

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I hope you are fighting Tower mighty royals - there default notices are generally crap

 

I am currently going through the process of courts with tower capital and primepaydayloan which i am guessing are part of the same group as my primepaydayloan court notice wants me to send docs to tower capitals address. But yes i am fighting them all the way and one of them there particulars of claim were just unpaid payday loan not a great poc lol

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hi mightyroyals

did they send you a default notice, if they did could you post it up minus all personal details and amounts and also blackout the barcode if there is one, would be interested to see if they are send valid default notices out, was that all that was on the POC and did they send any docs with it or did this claim come through Northampton CC.

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if you find the section that you would like to start a new thread in

for example you want to start a thread in the Debt Action forums and its to do with a debt collection company, then you would look at the debt forums and go down to the debt collection industry section open that up and there you will see an icon that says start a new thread, the icon is on the left side near the top

Debt Collection Industry - The Consumer Forums

hope that helps

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