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that will be there own internal dca

 

they have been known to flogg your details onto debt management companies

 

iva is a big business

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we are not doing an iva just a debt payment plan. do payday companies take money off a spouse if they have their bank details?

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I've never heard of them doing this, and legally it would almost certainly land them in hot water - it's one thing raiding the account of someone you have a contract with, but doing it to someone you don't is almost certainly fraudulent.

 

Mind you, I still wouldn't give them the details to start off with. ;)

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As you have changed your bank account there shouldn't be too much problem with the companies taking all your money before Xmas. Watch out for people phoning pretending to be your payroll company asking to confirm new bank details - or anyone asking for bank details. Its been done and failed on me twice, once at work and once on my mobile.

 

Sadly this type of company 'know' the law, especially the twats at Wonga, who use Marstons to bully people into paying up - Marstons in their case are NOT acting as High Court Enforcement Officers, they are acting as a debt collecting agency and should you receive ANY communication from Marstons you need to contact their Trading Standards people with a covering letter explaining that there is no CCJ on the account and Marstons are exceeding their authority.

 

Come back on here for advice at any time.

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really shocked to be reading some of the experiences people have been having with payday loan companies!

 

really need more credit unions who are run by the community and help and support the community.

 

in ireland they offer short and long term loans, on the back of your savings with them (so they encourage saving) and are also flexible with regards loan repayments.. such a shame the UK financial system is so corrupt

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Also a bit of advice - if any of these companys phone you and you have a BT line, activate the caller blocking service - you can block 10 numbers (it costs you a little bit on your BT bill but it is really worth it)

 

IF they phone you - do not answer any of their security questions, most of these companies will need to get you to vertify that they are speaking to the correct person. DO NOT give out any personal details and they will not be able to take the call further (also annoys the hell out of most of them). Tell them that you do not give out personal details and if they want you to discuss anything you will only do this in writing.

 

Most of the time - their threats of turning up on your doorstep are just that - threats, very unlikely that they actually will. If they do - tell them it is not convenient to talk and rearrange a time for them to come back.

 

Do not be intimidated by these people - that is how they will get you to pay up.


REFUNDED

Hubbys - HSBC £4,165 paid 18/8 after MCOL issued :)

HSBC - £651 paid 18/8 after MCOL issued :)

HSBC - £147 Prel 7/8, LBA 21/8, MCOL 6/9 £241

Hubby Halifax - Prel 29/7 £215, LBA 21/8, Offer rec. £110 22/8, MCOL 6/9 £298

Abbey - £2758 - Prel 26/6, LBA 10/7 - MCOL 26/7 £3,391, offer 25/8 £1,755.94, paid £3567.32 after Case manag hearing

Barclays - £675 Prel7/8, LBA 21/8, offer received £300 MCOL 6/9 £998 - Paid £1,012 before going to Court

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hi guys, havent been on for a while as just trying to not think about it a bit before it all kicks off on the 16th.

 

i think we are all ready to go. we have both got new accounts with the same bank. cancelled our cards and by the time the 16th comes the accounts that wonga quick quid and payday have the details of will be closed.

 

we bought a pay as you go sim card and put it in an old phone and have told all the payday companies this new number. so hopefully our actual mobiles wont get bombarded with calls. my husband is going to phone bt today to see about changing our number or getting the number block thing.

 

is there anything else i should be doing. when do i send them the email explaining my situation? do i do it before the 16th or on the day?

 

i am so glad i found this forum as its so nice to know im not alone

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Hi Tilly

 

Looks like you have all under control.

 

Make sure that you don't make any further application and don't submit your new bank details on line. They have a habit of finding your new details from broker applications etc. If they get them they won't think twice.

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Hi tilly,

 

This is a bit of a long reply but will give you a way to beat these companies, be able to sleep at night and have a great Christmas. It's kind of an old fashion way of doing things, but it really does work. Well this how I did it anyway and will require a bit of research before the 16th and a bit of time. It won’t wipe your debts but it will lift a lot of the stress for you and your husband.

 

You need to find a small building society that offers savings pass books and has branches that you can easily get to. Give them a ring and ask them if they allow a standing order facility on the account and also if they can write cheques for you. All you need to open them is the usual forms of ID's and it doesn't take too long to do. Make sure it isn't with your current bank.

 

On your payday as soon as your wage goes in and the bank opens, go down and withdraw everything except the money for bills that are on direct debit such as your debt management company, ect, if any bills fall after the new year cancel the direct debit, give them a ring and ask them for their standing order details and instruct your building society to set them up for you. With draw the rest of the money and put it in your pass book account.

 

You probably would have done this with your debt Management Company but write a financial plan over the Christmas period till next payday. Work out how much you need for presents, Christmas food ect. Now calculate everything else you will need on a weekly basis that are essentials such as Weekly food shopping bill, petrol/bus fare, gas & electricity ect. So times how many weeks you have from the 16th to your next payday by the amount you need for essentials every week. Take this amount and add it to the amount you need for Christmas presents and take this from the total amount in your passbook account. With any luck you will have a bit left over. With the left over amount again divide by how many weeks you have till your next payday.

 

Every week on a certain day such as a Saturday morning go down to your building society and withdraw what you need for the week plus a bit of your spending money that’s left over but don’t withdraw it all. Make sure you note the banks opening times over the xmas time so you know when to withdraw next week’s money when they are open.

 

If your hubby is burying his head in the sand then I think it’s only fair you take control of the finances. You ask you hubby that all his money is going in to the same account and with your pocket money allow him to have 30% of it, you can have 30%, 10% allowance for each child such as pocket money or if they need clothes and the other 20% find somewhere to save it up such as a sock or even leave it in your building society account. I think you will have got the gist of it by now.

 

In regards to your bank, write a letter to your branch manager, doesn’t have to be all neat and tidy but make sure you inform them that there will be zero funds in the account after all bills are paid. Inform the bank that you hold them fully responsible if you allow any payment out of any old/new account. Inform them that no one has you expressed permission to make any direct debit instruction or debit funds from your card.

 

Ask BT to block their numbers but this does not always work as they will have many numbers they ring from, I would ask if you can have your phone service temporally cut for 1 month so your home phone isn’t ringing every 10 seconds.

 

Email them and mail them the letters telling them not to ring you and all correspondence is in writing in the future. You need to tell them that you are “urgently reviewing your finances” and that they need to send you a projection of the balance as per January payday. Inform each of the companies that you will contact them “10 working days” after the receipt of your letter with an instalment plan. This should give you till the New Year before you need to respond as working days means mon-fri so 2 weeks but it looks less.

 

Once you have your balances as per Jan payday then work out how much you want to pay off in instalments each month. Make sure it’s what you can afford, don’t stretch yourself. Make sure you get them to agree in writing either in email or post that they agree to the instalments. If they agree and ask for your card details inform them that you won’t be providing any card details yet. Make an excuse that you have changed banks and are awaiting new cards.

 

With the time left till January payday shop around and try and find a prepay card, these are either visa/mastercard and the companies may charge a small fee either for setting it up or on any transaction but if you shop around you can find one that won’t cost you that much. You need to get 3 of these, they don’t do credit checks and you can have as many as you like. Hopefully you will have these by January payday, if not ask the payday lenders for their bank details and inform them that you will put the money in their accounts as you have still not received your new cards.

 

If you have received your new cards, mark them to indicate which card is for which payday lender so you don’t get them confused and top each of them with the instalment amount and email the payday lender or even be a bit cocky and ring them and give each of them the number for the prepay cards. They can try and try to take as much as they want but these cards will only allow you to take what they have on them, like pay as you go mobiles do. It also confuses them because your card details will be completely different which will take the pressure off your main account. You can even tell them to just debit them automatically on certain days every month but never reveal they are prepaid cards as it will give the game away and they may try targeting your main bank account.

 

Try to keep using your pass book and just withdrawing on a certain day, it works for me. Every Saturday it’s a ritual, I go down to bank and get me weekly allowance out. I then go and do the weekly shop and I’m home for 12. I leave an allowance in my wallet for the weekend and hid the rest in a page of a book. It’s handy to have a diary to plot everything in too so you know what bills to pay each Saturday as I try to use giro slips as much as possible.

 

Hope this make sense and hope every goes well on the 16th, I will keep an eye on this page.

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thank you very much for taking the time to reply to me. do you believe our new accounts are not safe? how can they get the details. our old debit cards are cancelled and there will be no funds in the bank accounts that they knew.

 

i thought i had it covered.

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With these companies you also need to watch for phone calls and emails askign you to confirm your bank details by way of security.

 

The Halifax do a very good online account, with no credit checking, you should try that one, and you can have one account for your salary to go into and one account to pay the bills from so nobody has access to your income unless they know the correct details.

 

The other way of dealing with the issue is snowballing, where you pay the lowest debt the most and then the others get a token payment of £10 for a couple of months, then you start on the next one... by the time you have done this for about six months and paid off two debts the others wil start offering you 1/2 price offers, which you can 'negotiate' by paying 1/2 one month and 1/2 the next, it is a much more 'short term' way of dealing with debts than sticking EVERYTHING into one pot and paying pro-rata. It worked really well for me.

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hi sorry to butt in but i have some problems with payday loans i have 2 on the go and i cant pay the full amount. ive reported my card as stolen and have just recieved a new card. should i be worried ? can my cash be taken. im waiting for these conpanys to contact me and i was hoping to reach some payment plan with them

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i really wish i could offer some advice but i wont be much help as im totally confused.

 

my husband and i both have loans in our names he has 3 i have 1. we both had our own accounts with lloyds. we have both cancelled our cards and have new lloyds accounts. i thought that would be enough to protect our money but some people seem to think it wont be.

 

there seem to be no consistency with these companies so who knows whats gonna happen. eastenders scared the bejeezes out of me tonight with the baliffs going in and maxs life then falling apart.

 

we default next wednesday and i feel sick.

 

we changed our mobile phone numbers with all 3 companies but it apears not to have worked as my husband has been getting reminder texts on his real phone and we have had nothing on the pay as you go phone we got.

 

does anyone know of anyone who has received doorstep collections from a payday company

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Doorstep collections people are NOT bailiffs, even if they state they are, they cannot collect from you and if anyone turns up you have a right to turn them away and call the police and report a threatening harrassing person is stalking you...

 

I know how you feel but there is slowly a way out, I 'snowballed' mine by paying off the smaller ones first then by the time I had paid two small loans of £150 off the bigger loans decided I could eventually only pay the 'original sum' or 'have a discount'. It took about eight months to be shot of the lot of them.

 

If you can let us know the lenders we can advise more. Many of these won't go to court but you never know, they may get a 'rogue' employee who likes to start court proceedings.

 

We can easily defend these on several basis, unfair contracts being one, high interest rate being another and bad business practice being a third.

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we have a loan each with wonga, and my husband also has loans with payday uk and quick quid

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From what I can gather, Payday UK are quite good at setting up a payment plan with.

 

From rhe ones you have, QQ don't pester much by 'phone, but constantly hit template e-mail responses.

 

Wonga I have found to be awkward. I sent a very strong letter off to them and not heard anything at all for about 2 months...

 

They will probably all invite you to 'roll over' your loan - don't! Stick to your guns, you'll get there :)

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From what I can gather, Payday UK are quite good at setting up a payment plan with.

 

From rhe ones you have, QQ don't pester much by 'phone, but constantly hit template e-mail responses.

 

Wonga I have found to be awkward. I sent a very strong letter off to them and not heard anything at all for about 2 months...

 

They will probably all invite you to 'roll over' your loan - don't! Stick to your guns, you'll get there :)

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i really wish i could offer some advice but i wont be much help as im totally confused.

 

my husband and i both have loans in our names he has 3 i have 1. we both had our own accounts with lloyds. we have both cancelled our cards and have new lloyds accounts. i thought that would be enough to protect our money but some people seem to think it wont be.

 

there seem to be no consistency with these companies so who knows whats gonna happen. eastenders scared the bejeezes out of me tonight with the baliffs going in and maxs life then falling apart.

 

we default next wednesday and i feel sick.

 

we changed our mobile phone numbers with all 3 companies but it apears not to have worked as my husband has been getting reminder texts on his real phone and we have had nothing on the pay as you go phone we got.

 

does anyone know of anyone who has received doorstep collections from a payday company

 

Tilly, the only way they can get your new account details is if you give them out - only give them to the legit companies you pay direct debits to (Sky, utility companies, TV License...you know what I mean). If anyone calls asking you to confirm bank details for any reason - just don't.

 

You'll be OK now.

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thank you. maybe i shouldnt read so much

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Hi Tilly

 

As Missweatherwax mentions there is no reason to suspect your funds are at risk. They don't have your account number or debit card number so there is nothing they can do. As for eastenders and bailiffs I would suggest this is a very remote possibility. You would have to have a court order which you ignored and then to ignore the court a second time when they insist you pay. You are a VERY long way from this.

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thanks guys, i am driving my husband insane worrying about this but he never gets stressed so i have to do it for both of us. i suppose i just worried that if they tried to get money out of our old account lloyds would offset it by taking money out of our new one

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Hi Tilly

 

Yes they can offset so you will need to keep an eye on your old account. As mentioned previously can you not cancel it? The worst you are likely to get is charges as QQ are known to set up direct debits at ungodly hours in the morning.

 

Wonga rely on the card transactions so you should be safe from them.

 

When hubbies salary goes into Lloyds you could remove most of it and put into a savings account/book elsewhere if you need that extra 'peace of mind'

 

Keep going:)

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Hi Tilly,

 

Not to scare you and it wasn't my intention but NO bank can garantee they will not let funds transfer as most banks are automated and there computer system sometimes can let payments through.

The best thing you can do is hand a letter to your bank manager making it clear you do not autherise any payments out of your account to any firms (supply the names to your bank) or to any other company. Make it clear in the letter that any funds that are debited from either your card or by direct debt is unautherised and can be treated as fraud. This basically will force your bank to keep an eye on your account and they won't allow any payments to leave. If they do they will have to put the funds back in to your bank account.

 

It's ok for someone in your branch to say one thing but it's another for the clearence centre to do another as one arm doesn't usually know what the other has agreed to.

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but if there is no money in the accounts that the companies have the details for then the payments wont go through surely. a card payment would decline and a direct debit would bounce but to be fair i will check online banking every day and with lloyds if you ring up before half 3 you can call a drect debit back so therefore it wont actually bounce and you wont get charged.

 

 

i am really confused as some people think our money is safe and others dont.

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Hi Tilly

 

You are 99.9% safe. As you say bank will decline a card payment without sufficient funds to take from. Just keep an eye on the direct debits as you suggest.

 

Try not worry about it. :)

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