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My Payday Loan Hell, Please help me **

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I am in some really big trouble with payday loans. I have 6 of them in total. It all started last year when I really needed some cash. I borrowed from one, then paid it back and then re loaned again and its been a vicious circle since then.

 

I was made redundant 8 weeks ago and have started claiming jsa which is only £60.00 a week. The thing is, it is really getting to me and I don't know what to do. I can't talk to my parents about this as they would go absolutely mad and the only other person I could talk to is my sister but she is more interested in her boyfriend then anyonelse but that is a different story.

 

The payday loans I have are:

QQ - They have been in touch too and have offered a 4 month plan but I can't afford it

PTP - Clarity have been in touch and am negiotiating a plan

Mr Lender - not heard anything from

Payday UK - Keyes have been in touch and I have a plan in progress

Payday Express - not heard anything from

247 Moneybox - having trouble setting up a plan.

 

I got some good news the other day, I got a full time job which I was happy with. I start monday. I have had 2 letters from QQ and as you know the envelope has QQ all over them.

 

I would like to know how many notices do QQ send before it gets passed to a dca?

 

Also can anyone give me advice on what to do??

 

Please

 

Thanks

 

Pinkgems

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Okay pinkgems, dont panic ! They normally take till the debt is 90 days overdue. They will send you to gothia or muckhall. Gothia are ok the better ones will offer a reduced settlement after a few weeks. Hall and co are a different kettle of fish but they will accept a repayment plan if you stay firm. Hope this helps can help you more when i know which dc they send you too. The job news is fantastic and im thrilled for you.

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First off - well done on the new job!

 

Secondly - how to get out of the situation...

 

QQ - I agree with Jelly here, I'm waiting to go to DCA with them.

Mr. Lender - email them and ask for a payment plan. They may offer you a reduced full and final settlement but were pretty good with me.

PDE - email them and make them a payment offer. They'll ask for income and expenditure - that's not a problem as long as you make sure they can't find any more money!

 

Sadly I don't know much about 247 but I hope that helps!

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Thanks for the advice.

I am waiting for them to go to the dca.

I am just wondering how many notices QQ send before it actually goes to a dca. I am just really worried as I don't want my parents to find out.

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follow cornet girls advice... when they start responding post back and we'll be able to help further... dont ignore it will only frustrate them, be firm and dont give over new details, you muct pay them directly or they'll take everything...

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Another thing - have you reported your debit card as stolen? And changed your phone numbers with them?

 

Jamie is right - don't let them push you. If you feel threatened by them on the phone then insist on everything in writing for your records - and your mental health (that tends to scare them plus it has the psychological advantage of giving you a barrier. You can take your time to think when replying to a letter or email, on the phone you have to be more on the ball).

 

PDE will respond by email as will Mr. Lender, although they may call too. QQ haven't written to me yet - they keep sending automated emails which they are getting increasingly sarky responses to as I'm getting fed up of Aqua, Angel and LaToya emailing me with their pre-prepared responses!

 

Stay strong - I would recommend telling your parents though as while they will be worried they will provide support. They may surprise you. I know when I got into a heap of debt problems a few years ago and ended up on a DMP my parents were miles better than I expected. If there's a chance they will see the letters etc then it may be best to come clean. I know that's probably not what you want to hear but it's sometimes better to do something you really don't want to do. Obviously I don't know your family dynamics but if you can tell them it's worth it.

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Regarding 247, I have just set up a weekly plan with them paying £15 per week which they seem happy with and has kept them quiet for the last few weeks! As everyone else says, stay strong and firm and just offer a reasonable amount that you can comfortably afford. Good luck, keep us posted.

 

Similar to cornetgirl, I'm still playing e-mail ping pong with QQ...

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They seem to like to play email ping pong!

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Hello everyone,

Just thought I would update you guys with my situation.

Its been a couple of months since I did my post and I am glad to say that I have made repayment plans with all of my payday loan lenders.

I have finally agreed one with quick quid over 3 months, the payments are higher then I would of liked but I really dont want to have to deal with mckenzie hall, I have heard some aweful stuff about them.

I am hoping by late next year, all my loans will be repaid :)

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Mackenzie Hall can quite easily be dealt with by reporting them to Trading Standards (Alan Stewart at East Ayrshire Trading Standards).

 

Well done for getting payment plans in place.

 

Have you got an alternative bank account set up?

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No, Some I do transfers from my bank account and theirs. I use my debit card for the others. No probs so far.

 

I have QQ set up as a direct debit but I am just going to leave the exact amount in the account so they cant take anymore, just incase.

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Hi

Just to say really be careful with these companies they can be crafty! You have set up a direct debit and there is nothing stopping them taking whatever they want. You ought to change this to a standing order. That way, only you can change it. Also, you have given some of the other companies your debit card details and they may say they will only take the agreed amount but this happened to me. They were supposed to take £35 (like they took the first 2 months) and then the third month took £280 out of the blue. I rang them and said about the agreed repayment plan and that I wanted a refund. Well I never got one because they didn't want to know, they just wanted their money any way they could get it.

My advice would be to cancel your debit card and request a new one. Don't give these datails out to any of them. Then pay the agreed amounts each month either by standing order or ask for their bank details and pay it in at the bank over the counter in cash.

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Just to add to siennasmummy above, I had a brief chat with my ex bank on cancelling my card and also cancelling a QQ direct debit (which curiously I couldn't do online) - he said that even if there was nothing in the account, no overdraft facility and no debit card, QQ could still extract payment as it was deemed a "cash transaction".

 

He further stated that if the account (which is a basic debit account) went oevrdrawn then they would close it immediately. Which in some respects would be preferable, in terms of repaying an overdrawn bank account than having to deal with QQ or their minions.

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