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Huge Payday Loan mess - making progress!

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Firstly I just wanted to say a big thank you to this site for all the great advice and support that it’s provided. I would never have had the courage to get off the re-loan roundabout without it.


I let myself get completely out of control with payday loans (never again!!) so wanted to give you an update on my experience with sorting out PP’s with the the lenders:


I have set up payment plans with Payday UK, Wage Day Advance, Debit Card Loans, Wages Today, Uncle Buck and Microlend all relatively easily. All of these companies were very pleasant to deal with and were happy to take a reduced amount to clear the debt as I was very honest with them. I have offered very realistic payment plans which should clear the balance in 3-4 months. These loans were all small in size so easier to pay off more quickly.


Cash Genie – 3 month payment plan agreed. Interest/charges frozen – they do keep sending me the standard ‘your loan is overdue’ e-mail but I am continuing to pay and will be clear next month


Capital One Finance – I’ve set up a 6 month payment plan with these idiots @ £50 per month. Once you finally get through to someone via phone/e-mail they are ok to deal with but it takes ages to sort out as they just ignore you. Keep e-mailing with the subject ‘complaint’ and advise that you are keeping all the e-mails you are sending so should they take any further action, you can prove you have tried on numerous occasions to offer a repayment plan. I think I sent an e-mail a day for a month with the same message! Someone finally got fed up with me and replied!


EPDL – proving difficult. I’ve noticed that they have today re-instated my DD for the full amount of the loan. Luckily I caught this and got the bank to recall the money (I have changed all my cards/bank account details anyway so it would have been rejected, I guess I would have been charged though)


Lending Stream – still waiting for a response. Has anyone else had any luck here?


And finally....


Like many others I am struggling with PTP and QQ. That said, the calls seem to have stopped and I’m e-mailing them regularly stating the same payment plan offer etc so I’m hoping PTP will get passed to clarity soon so I can start clearing the balance.


Anyway, for all those reading this who are in the same position, do something about it now. I promise it isn’t half as bad as you expect it to be (I barely slept the night before I defaulted on them). Be honest with the lenders, most are sympathetic and for those that aren’t, be fair with your payment offers and stay strong.


I should be out of this mess in 6 months time and I’m so looking forward to not having to worry about rollovers and reloaning ever again!!!

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I've nearly set up all my payment plans too - QQ and EPDL to get sorted as they haven't made contact, the others have made contact but Wonga are ignoring me and PDE are dragging their heels!


I have to say I didn't sleep last night but now I feel like a weight has been lifted from my shoulders. It may take me a year to finally clear but boy oh boy it's gonna be worth it!!

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Well done with being honest with so many of the lenders - its obviously proven useful. I dont think there is anything more you can do with the idiot lenders who wont accept smaller repayments, plain stupid is what i think. Just keep badgering them either they will accept or a debt collection agency will accept for them... good luck.

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Agree with all the above...

there is a light at the end of the tunnel

Just need to step out of the spiral and take control.

Much easier once you take charge of the situation.

For what it's worth, i managed a 12 month repayment plan with Wonga!

Am still waiting for a call from paydayuk who have had "my" offer several times now by email...

QQ are the difficult ones so far....seems like they are totally ignoring every email i send.....but at least i have a record.

Good luck everyone

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