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im in a payday loan trap

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Can anyone help, Im new to this site so pls be patient with me.

A few months back we were short of money so my husband applied for a payday loan,this was to pay current bills....we paid this back but then again more bills came so we borrowed again...to keep it short before we knew it we were borrowing one to pay back another. The salary my husband recieves is only enough to get us by as a family. We were stupidly paying the unsecured debts first, credit cards etc and not rent council tax etc. then we realised we could lose the roof over our heads so we had to take out another loan...

We have sat down and agreed from now on any income we recieve will pay the importants debts, i call them debts but at present im up to date with everything Except now these payday loans.

I will be honest and shame myself but we have a few out. The pay back dates are coming up soon and we simply cant afford to pay them before we pay the rent council tax etc so what do i do? some this payday are requiring only the interest fee, then next payday the loan amount pls the interest fee again and some are requesting the whole amount. i have 2 babies to consider i cannot risk us losing our home or having the electric cut etc.

When we applied for these we had every intention on paying each one back and now realised we cant. I gave each lender my debit card details then also acc no and sort code.

now im worried what wil happen now i cant afford to pay these back, what is the very worst that could happen. I have read a few msgs on the forum where members are talking about the consumer credit act etc, do i have as a borrower any rights against these kinda companies etc?

Any advice wil be much appreciated, i have asked on other site's only to be told what i already know that these are short term loans, learn to live on the minimum etc i know all this and believe me when i say i will learn from this.


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Good Morning,


i too, have been in this spiral in the past. I find that 'usually' if you speak to them they are understanding, cancelling your cards or direct debits or ignoring their calls can be both expensive and embaressing as they will start calling work numbers etc. But if you call them, explain the situation and dont agree to anything you cant keep too, at the end of the day, they want their moneyback, if the only way they will get it back is for your to pay it back at say £10 per month then ........


Good luck...let us know how you get on!

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what companies did you have good dealings with? the ones ive come across are rude and not upfront with you. had dealings with QQ, arranged a payment plan and instead of taking the 137pound agreed, they took the whole monty in one go.... 411 in 1 payment not 137 in 3 payments. best to default and wait for a DCA meanwhile just send postal orders to them for what ever you can afford. Wonga are shocking. stick to your guns. Mortgage bills food...payday loans can wait. remember these companies only survive because they know some people out there are desperate and default. forget your credit rating, it was probably all shot up thats why you went to these people.

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