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A few months ago I was in a dark place, suffering from despression, insomnia (severe sleep deprivation), anxiety and work related stress.


I am now starting to come out of the other side of the tunnel, but during this bad spell I had taken out numerous payday loans to fund extravogent shopping sprees or nights out - as a means of escape I guess. I'm aged 18-21 and have a history of mental health issues.


I cant even remember how many loans I took out, how much money I borrowed or which companies the loans are with... I've moved bank account and haven't been making any repayments either...


Now that I feel well enough (having undergone treatment and started medication) I am beginning to tackle these outstanding issues and I am replying to companies with a repayment offer as they contact me (I cant do this pro-actively, as I said I cant remember who I took the loans out with and it appears I have deleted the emails.)


I dont know if there's any way around these debts if I could claim I wasnt aware of what I was doing given the state of my mental health at the time? Long shot I guess...



Anyway in the meantime I've sent Payday Express, Wonga, Lendingstream and Quickquid the following email so far:




I currently have an outstanding loan with , among other companies.

I work for local government and due to the latest spending cuts I am now no longer getting regular overtime, and no pay rise which is resulting in severe financial hardship.

I have a lump sum payment expected in April 2011 and hope to clear all outstanding debts that I have accrued in April/May next year - I have since made the decision to launch my own business and things are going well, if growth continues at the current rate I will be in a position to make myself a sizeable dividend payment at the end of Q1 next year.


I apologise for not contacting you prior to now to discuss my outstanding debts, I have been diagnosed with and receiving treatment for ill mental health (a combination of depression, stress, anxiety and insomnia.). I only now have begun to feel well enough to deal with these outstanding issues.


I would like to propose a payment plan of £10 per month until April 2011 and ask that interest be frozen, and I will clear the outstanding balance as soon as I receive the lump sum payment.


King Regards,



I honestly have no idea what I'm doing here, or what I'm doing is right or wrong or... should I be doing more?


Any help or advice offered is much appreciated.

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good, make sure not to give them your bank account details or card details. you will need to make these payment directly into their bank account or they will take all your money from you. If you have given them your card details, cancel the card and ask for their bank details. you are doing the right thing, some lenders will accept and some will not, none of the big players will take you to court so dont worry. keep us posted and we'll do what we can for you. jamie.

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as per other comments, make sure you get all confirmation of agreements in writing/email and do not give out your card details or set up DDI's.


As a suggestion, set up standing orders for payments when you get paid. This means you are in control of the payments and if your circumstances change, you can notify your bank.


Good that you are feeling better and tackling your debts. Keep the forums posted.

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