Settlement figures???

[saintly]

i finally came clean to my OH about my patyday loan mess and he has given me £850 which is every spare penny he has to help me with my loans

 

I currently have to pay the following to get rid of them

 

Uncle Buck £260

Wageday £270

Pounds till payday £190

Payday express £300

Quickquid £188

 

Has anyone had any success negotiationg a lower settlement figure for these loans?? if so would love to hear how you did it?

[lostinspace1000]

cancel your debit card, your DD's to these people. send emails/letters to them explaining your situation (also request all communication to be done by letter) and get a stop on interest and charges(as these will totally screw you) keep a copy of all letters sent and recieved. Offer to pay them monthly what you can afford but keep it a reasonable figure if you offer to pay 5pound a month for a 300 debt it will just **** them off (not that there not already ****ed). Remember everything in writing as anything said over the phone can be twisted or denied( probably best not to phone). About your DD's when you cancel them at the bank hand in a letter naming the companies that may attempt to process a DD again without your knowledge. If a DD leaves your account and a letter has been filed with the bank, any DD paid to the named company has to be financally covered by the bank. Dont think your settlement figures are going to be any lower than your initial loan. Dont roll over or extend, thats the expensive way of 'not getting out'.

Edited January 10, 2010 by lostinspace1000
addition of a new lines

[saintly]

thought id give an update on how ive gone so far

 

a couple of the companies have been fabulously suuportive so far

 

Uncle Buck £260 - accepted £160 (UB have been wonderfull)

Wageday £270 - accepted £235 (not as much i as wanted but every little helps)

 

Pounds till payday £190 - have offered £130, awaiting email

Payday express £300 - have offered £200, awaiting email

Quickquid £188 - have offered £140, awaiting email

 

fingers crossed

[lostinspace1000]

good luck! reading throu other threads about these sharks i reckon you'll see their true colours soon.