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Help- I need to get out of this hole

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Right then guys I need some help. After several periods of unemployment (for me and my other half) I started taking out payday loans. Now I've run up the following debts (my own stupid fault). I'm now at the point where I pay more out in loans than I earn- I cant keep it up anymore. I'm about to approach each lender with a repayment plan over 6 months and I need some advice.


I've got the following loans-

Quick Quid- £600

Payday Express- £500

Wonga- £350

Wage Day Advance- £150

Lending Stream- £300


I feel ashamed of myself listing them like this but I really dont know what else to do. How do the above respond to payment plan requests?

I'm obviously going to do the obvious and cancel cards etc and I'm not the kind of person to back down- I will hold my ground!


Thanks in advance for your advice guys.

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good on you watch Wonga they are abslutly the pits they are the ones that have cause me nothing but greif glad you cancelled cards etc as they will bleed your acct dry. I only owe thrm 3.95ish yet recon I owe them well over 300 quid if you wish to clear them best is to get payment details and do it that way otherwise they will bleed you dry DO NOT CALL THEM AS THEY WILL BULLY YOU keep in e mail or writing offfer what you can not what they demand Wonga will E mail with Odious E mail threatening this that and the other breakOFT guidelines then deny this Good luck and let uz s know what happens.

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Dont feel ashamed, many of us have been in the same hell hole but with help and support on here you can regain control of your finances. Payday express will come to an arangement but will ask for proof of time unemployed etc. same with lending stream. Quick quid will only accept a 3 month arangement so best to wait till sent to a debt collector where you will be able to sort a plan. How long have you been rolling these loans over ? Which ones are new ? Have some advice for most accept not dealt with wonga or wage day advance. I found emailing them all best as it allowed me to keep a record but also some phone calls too. You will need email responce/letters from them when they confirm payment arangements as proof. Also emails prove that you have tried to come to a reasonable arrangement and can help if your under alot of stress. I know i was at the time and found this helped me

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I've dealt with all bar Lending Stream who I've snowballed, and here's my take on things.


QQ - you will play email pingpong with them unless you can do a three month repayment plan, so hold off until they contact a DCA

WDA - very reasonable. Their collections manager is Richard King and while they do request I&E they will accept what other companies would consider a low offer without much quibble.

PDE - need nagging by email quite a lot but will eventually agree your plan. THey tend to like I&E too.

Wonga -need shooting. Send all your emails to Errol Damelin, the head honcho, and try and break it into a 12 month repayment plan - 12 months or below and they will accept, above that and you have very little chance of getting them to agree.


You are doing the right thing - you can do this and there is light at the end of the tunnel!

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Thanks for the advice guys- I cant tell you how much I appreciate it!:D


I've just finished drafting a letter to send out tomorrow- I default on most of my loans Tuesday so I will keep you posted on their responses. I will keep reiterating my offer and have basically told them that it is the most I can and will pay...


Although I haven’t seen any responses yet I already feel better about gaining control of the situation. All of the offers are fair and it would be suicidal for them not to accept my offers and take me to court. I am hopeful (no confident) for good results in the long run.


Thanks again guys and I'll keep you posted. If it goes well I'll post up a copy of my letter (minus any personal details) for anyone else to look at- it might serve as some inspiration to get out of one of these messes.

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