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I am unfortunately caught up in the payday loan trap like a lot of people on here. I have 5 paydays biggest with everyones favourite WONGA and QUICKQUID. Im struggling every month and thinking of defaulting on both of these 2 and paying the others because i never have any money. The thing is i am trying to improve my credit rating and dont want any defaults on my file, got 2 defaults which come off next year and hopefully my credit will improve but if i get another default now and done for another 6 years. I would rather get a loan to pay them all off but its hard when you have poor credit.

 

1. Just need a second opinion on either to continue paying these off, whilst paying extra each month and struggling until they are finished.

 

2. or defaulting on QQ and WONGA and offering them a payment plan (cancel card - stick to guns an all)

 

If i did option 2 and offered them a repayment plan would they put a default on my file?

 

Help is appreciated

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QQ £900, WONGA £960, PUK £262, P EXPRESS £400, L STREAM £400

 

Im getting fed up of backing them every month. I was going to carry on with the other 3 and bring them down each month but QQ and WONGA are too much! I am due to pay WONGA tuesday, everyone else is backed to date.

 

To be honest id rather get a loan and pay them all off but thats impossible with poor credit

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QQ £900, WONGA £960, PUK £262, P EXPRESS £400, L STREAM £400

 

Im getting fed up of backing them every month. I was going to carry on with the other 3 and bring them down each month but QQ and WONGA are too much! I am due to pay WONGA tuesday, everyone else is backed to date.

 

To be honest id rather get a loan and pay them all off but thats impossible with poor credit

 

I suspect you will have to go with plan B and hope they won't put on your creditfile. No guarantees but as yet they generally don't. Personally I would rather have the 'black mark' than continually pay the interest on these loans. It really is a personal choice

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Thanks Rob, I guess I have to think about having money to get by instead of paying these sharks and leaving myself skint. Am going to offer Wonga £100 a month starting this month and see what they say.

 

Any idea on what to say in an email to them would be great.

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Hi,

Not sure about Wonga but I had one with QQ. Firstly cancel your debit card, tell your bank you have lost it. QQ were prepared to accept installments with me but only over 3 months which I could not afford so it has now gone to a debt collectors Mackenzie Hall.

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Thanks, I have a friend who has emailed QQ about paying £50 a month and they had sent him this email:

 

Thank you for contacting us to inquire about how to pay off your loan balance. Your offer to pay 50.00 is an unacceptable payment arrangement. However, any payment received will not be refused.

 

The acceptable payment methods used by QQ are: Bank Account, Debit Card, Paypal/Credit Card, Bankers Cheque or Cashiers Cheque.

 

QQ does not accept standing orders or giro slips.

 

PAYMENT INSTRUCTIONS

We cannot accept payment without all of these details.

Post the banker's cheque (payable to QuickQuid) and the payment stub to the following address:

 

The address below is for payment processing only.

QuickQuid Collections

PO Box 47

Sheffield

S98 1DR

 

Name:

Account Number:

Due Date:

Amount Due: £449.50

Amount Tendered: £50.00

 

Collection procedures will continue until an acceptable payment arrangement is made or until the loan is paid off.

 

If you have any queries, our Collections Department is here to help.

 

Is bankers or cashiers cheque a normal cheque?

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