Let the mayhem begin!

[cornetgirl]

Hi all!

 

Been lurking for a while but never really had the guts to post until recently. I've got a few PDLs that I've been rolling over for ages and I've decided I don't need the stress anymore of not being able to afford to repay them and just keep rolling over. I've cancelled my debit card with the bank and the direct debits that have been set up and will keep an eye on them on 28th when all hell is meant to break out.

 

What I would like to know is, is it worth contacting the companies in advance of the default and trying to organise a payment plan paid by standing order, or should I sit tight?

[robjam1969]

Welcome to CAG Flugella

 

Personally I wouldn't tell them in advance. Just gives them more time to try and rifle your account.

 

With a reputable loan company it maybe a good idea to ring in advance if you are having difficulties. This doesn't really seem to help with these pay day loan companies. They will try and charge you to the hilt in any event.

 

Just be firm with them when they do contact you.

 

Up to you at the end of the day.

[jellycubes]

hi flugella, im doing the same as you this month, but let the turd hit the fan lol. be brave and lets swop stories lol for support. Who do you owe too ? mine are payday express, safe loans, lending pounds, lending stream, capital one finance

[Jamie Kingston]

Hey and welcome.

 

I don't actually agree with robjam - i would deffinetly contact in advance as long as they dont have your details they cannot take anything from your account. Be honest and offer a fair amount - most will accept.

 

From experience: the worst thing to do is to ignore or let your account do into default, be honest from the start and the worst thing they can do is say, no.

 

who are the companies with?

[cornetgirl]

Hi all and thanks for the advice.

 

The companies I owe are:

QuickQuid - who from reading these pages I'm expecting to be an absolute nightmare so I'm not going to contact them until D-Day I think

Early Payday Loan

Wageday Advance

Payday Express

Mr. Lender

Swift Money

Wages Today

Speed-e-loans

 

Has anyone had any experience of dealing with any of these? From reading other posts it seems like WDA and PDE could be fairly reasonable??

 

Jellycubes - welcome on board buddy - let's fight the you-know-what's together!! I realised that these lovely people have, between them, loaned me more than my monthly salary which was one hell of a wake-up call to realise that I needed to sort it out!

[sillygirl1]

Don't forget to get a new bank account and have your wages paid into that so they can't take money when they feel like it.

 

You can change your bank card and PUT IT IN WRITING to the bank that any transaction taken out after the change is fraudulent and not authorised by you. The bank may huff and puff about this but do it anyway to safeguard yourself.

 

If you have given any of these companies copies of your debit card they will have the bank account details on them and they may try to set up direct debits - or take money via the bank account details.

 

You need to safeguard any money coming in. What you also need to do is sort out how much you can afford to pay each one, if you have £200 spare and can afford to pay one loan off in two hits of £100 then do that (it is called snowballing and works much better than a DMP). In snowballing you pay the smallest loans the most and then the bigger ones sometimes start offering you hefty discounts.

[jellycubes]

Hi flugella.... Totally with you on the wake up call, i was due to pay 750 in interest this month and ive been loaned nearly 3 times my salary . Ive had past experience from QQ they will huff and puff but will accept 3 monthly payments. I stupidly took out other payday loans to pay this...not the way forward..dont make the mistake id did. Anyhow qquid will pass you on to gothia or turdhall erm sorry mckenzie hall. Gothia are ok, turdhall are not but stay firm any offer what you can afford and deal with them in writing or email.

 

Lol thats all i know as im defaulting on mine this month and like you the wake up call hit me when i looked in the fridge and saw the light ....because that was all that was in it !

[robjam1969]

Hey and welcome.

 

I don't actually agree with robjam - i would deffinetly contact in advance as long as they dont have your details they cannot take anything from your account. Be honest and offer a fair amount - most will accept.

 

From experience: the worst thing to do is to ignore or let your account do into default, be honest from the start and the worst thing they can do is say, no.

 

who are the companies with?

 

That's the beauty of CAG, lots of different opinions.

 

From what I have seen on these forums (and personal experience) most of these companies will agree nothing until you have defaulted and some will just ignore you completely. They of course already have your bank details. There are exceptions of course.

[cornetgirl]

Wow - thanks for all the advice!

 

Unfortunately payroll say it's a bit too late to put my wages into my parachute account (I have another account that I put my "living money" in so noone can touch it but it's with Natwest and they don't seem to be as good at the security thing!)

 

My debit card is cancelled and Halifax have reassured me that nobody will be able to force any transactions. Next step is to write to the bank informing them that any transactions from the above companies are not authorised by myself, right?

 

Sadly I'm only going to be able to pay one of the smaller loans off this month and token payments of £20 to the rest as got my Royal College subscription due this month but owt is better than nowt, right?

 

Any of the companies I'm dealing with at all reasonable?

[cornetgirl]

Carrying on the train of thought... I think I'm gonna have a late night on 27th - 28th and as soon as I get paid pop it straight into the parachute account by faster payment. Worth losing sleep to gain in the long term!

[skyblue2027]

Hi Flugella,

 

I went through this last year. mine are all with DCA's being paid at minimum payments. luckily i will be looking to pay these off at lower rates in a couple of months.

 

As advised, make sure your card is cancelled and open a new account. Brace yourself for the phone calls and threats. Look at the letters on this forum re: harrassment etc. As sillygirl mentioned, if you can snowball then great, otherwise they will end up with DCA's should you not get an agreement. As for my experience:

 

QuickQuid - went straight to 1st Credit. still paying them

Early Payday Loan - managed to pay off after being chased by one of their robots at work for so long

Wageday Advance - went to credit pays, i am currently awaiting a CCA

Payday Express - Heard nothing for over a year. surely i will one day?

Mr. Lender - no experience

Swift Money - THE WORST. £200 turned into £1000 - was chased via greengalghs. managed to negotiate a f@f with swift and they accepted just the money borrowed.

Wages Today - sent to OPOS, minimum payment still being made.

Speed-e-loans - no experience.

[robjam1969]

Welcome to CAG CFC

 

If you have a good read through all the posts on this forum you will see the pitfalls of trusting payday loan companies. They will happily agree a payment plan then empty your account when your pay goes in.

 

Also try and find Wonga customers who have had success phoning in advance.

 

I must admit an interesting first post in support of these companies.

[robjam1969]

I also missed off that today I have set one up with Capital finance one paying them via standing order so I dont think they can take any more can they>

 

I too believe in paying them but only a reasonable amount in a reasonable timescale, no silly charges but remaining in control of how the payments are made. That way everyone knows where they stand.

 

CFO are a pain but strangely one of the better ones for not adding stacks of interest/charges and setting up repayment plans. However never let them have your debit card details, their antics with customers plastic is the the stuff of legends (not nice stories)

 

Standing order is perfectly safe way of paying.

[cornetgirl]

Wow - lots of replies - thanks guys!

 

Letter has gone to the bank saying I do not authorise certain companies to access my account and now I'm wondering whether to just sit tight or contact?

[robjam1969]

Hi flugella - I think I will keep quiet as I seem to be in the minority. Have a good look through these forums over a long period of time to see how these companies behave. You can then make a judgement call.

 

Good luck

[cornetgirl]

I think you make a lot of sense robjam1969 (or may I call you Rob?). I'm getting a feel for how the companies respond and I'm drawing up a list mentally of who to contact and when. There is still some time though, which is good. Now to strengthen the mental reserves!!

[jellycubes]

Yep robjam s been supporting me too he s a star ! flugella im doing the same as you know this month and boy its scary but not as scary as wondering how the hell to manage everymonth with the robbing sharks lol. From searching and reading posts for months they will try all tactics to bully, and extort money. Im here and so will lots of lovely people on this site to see you through and give advice.

[robjam1969]

I think you make a lot of sense robjam1969 (or may I call you Rob?). I'm getting a feel for how the companies respond and I'm drawing up a list mentally of who to contact and when. There is still some time though, which is good. Now to strengthen the mental reserves!!

 

Rob will be fine.

 

Nice to have some support, I seem to have attracted some opposition recently. Looks like the troll on CFO thread has been rumbled.

[cornetgirl]

Lol Rob it is then!

 

I've already dealt with PTP in the past (the delightful Gerry Maguire) so therefore NOTHING is ever gonna be as bad as that! We can all do it if we make a stand!

[jellycubes]

Lol flugella, gerry maguire read alot of posts about that jerk ! my new bank cards just arrived....yippeee have you got yours yet ? Im stopping up on the eve of the 24th till the morning to make sure the vermin havent got through on my reported stolen card ! Its going to be fun when the calls start but stand together we will.....

[cornetgirl]

Not yet jelly but only lost it on Monday so I'll give it time. Your payday's before mine so when you've gone through it can I suggest you stay up late on eve of 28th for me too??

 

My bank have reassured me that nothing will come out from my old card so I have written to them as well saying certain people are not authorised to debit my account. Let's wait and see!

 

And yes, Gerry is a royal pain. He told me I had ruined my life by getting involved with him - so I told him what I did for a living and he went VERY quiet!!!!

[jellycubes]

ooo flugella what do you do ? pm if you cant say. Yep i ll stay up with you as im on call at work. I will also give you the low down on what grief i get from them I work for a womens refuge and deal with many abusive characters so im ready lol. I reported mine on monday and card came today so hopefully it wont be too long before you start to smell the freedom too

[shanticat]

Hi...hope you don't mind me tagging on

I am in same position here and about to default on one of my PDL on 21st...three others to follow between 23rd and 25th....am trying not to worry but would be nice to stay in touch with others going through similar challenges.

[cornetgirl]

Shanticat - welcome - the more the merrier! You're the first of us to default and I'm bringing up the rear but we shall all stick together and get through it.

 

One thing that's keeping me going is that my mobile phone contract is coming up for renewal and I'm thinking that my reward for being tough will be a nice shiny new phone!

 

Jelly - PM on its way!

[shanticat]

Thanks flugella...i am in need of all the support i can get right now...

Nice to know we are not alone though....

I have started to prepare an email ready to go once wonga realise they have not been paid on 21st....will let you know how it all goes.

Thankfully i don't use my mobile too much, so will just keep it switched off for the time being!