Payday Mess **

[Jamie Kingston]

excellent... who's the other two?

[Super_Ram]

The other 2 are Wonga and Pound Till Payday

 

Heard back form Wonga saying they have to wait to try and take payment and not heard anything back from Pounds Till Payday

[sillygirl1]

Get Wonga's response off to the OFT, they are looking at Payday loan companies and the way they like to 'take' money from accounts at will... they should be able to stop trying to do something you have already told them not to do....

[Jamie Kingston]

PTP probably wont come to a plan and sell the debt from my experience. Wonga will come to a plan if you badger them enough, the day it defaults contact the colletions team to come to an arrangement.

[fireflyer]

I have now got a reply from then saying all Interest and fees will be froze and no payments taken aslong as the Payment arrangement is kept up

 

One down, Two to go

 

Be careful! I had a payment plan is place with WDA. And an agreement to freeze interest and charges etc. However on Xmas day thay took the entire lot plus another £100.00 interest. When i called them all i got was a very arrogant reponse (of course they were very happy they had just taken a lump of money) and was told i had not made an agreement to freeze interest and charges! Yeah right.

Foolish me didn't get this agreement in writing - it was agreed over the phone. I've since been in touch with OFT and WDA who have simply ignored my e mails. No replies. Nothing. I've requested transcripts of all calls and subsequent conversations that have taken place - no reply.

They think they've got the money plus a nice wad on top but i'm not going to let this go.

Be aware, you are dealing with unsrcuperlous, devious and dishonest liars..............in my opion that sums up the vast majority, if not all, pay day lenders.

Ask for anything and evrything you agree to put in writing. Whilst you owe them money they'll play ball. Don't pay them anything unless you have agreements in writing.

Fireflyer

[Super_Ram]

Thanks for that advice fireflyer

 

After reading many posts I have took steps to stop this as I agree that the only reason they are bieng nice is because I am in pole positon at the moment. However I have cancelled my Direct Debits, Reported Card lost in public and changed my wages to another account. The way I am paying them now is by Standing Order which I have been told they cannot get any details of my new bank account this way.

 

I do believe that Wage Day however are planning on maybe trying to take the full amount form old bank(they can try as wil get nowhere). I also expect them to try and take a Debit card Payment(again try all you want). And I suspect they will try and add charges or interest on somewhere and be sneaky but I have got documentation the exact amount that was owed this month so they can whistle for anymore off me.

 

Another question that has come to mind regarding the other paydays and them not getting back to me about a payment plan. I have seen on here some people regardless whether they have agreed a payplan or not start paying the monthly amount to the payday company. Now I can see the advantage to this as you are paying it off and if it takes 3 months to agree a payplan you have paid 3 months off the loan already.

 

However I am worried about this as if I start paying a certain amount to these other companies and have not got it in writing that Interest and Charges are frozen, then if they take that money plus keep charging Interest/Charges am I digging myself a hole as they can turn around and say they never agreed to a payplan or to freeze Interest/Charges and they hav enow got a good portion of the loan back.

 

My other option was to take this money I would of paid them had they agreed to a payplan and put it in savings and then once they agree to my terms I have this money saved up.

 

On top of that am I best to pay this lump sum form the off or stick to monthly payments and use the savings as a chunk payoff at the end. The reason I ask this is I dont want to agree say £100 a month and on the 2nd month say pay £200 and they question why I can pay more and try to argue I should be paying more every month.

[sillygirl1]

I can see where you are coming from, it is a good idea to put the money to one side and just in case they don't agree to a plan you could try a full and final of the original loan.

 

They do like to try it on with the additional fees and interest but it really is not worth their while to have long payment plans, 3 to 6 months sounds reasonable to anyone, anymore and you may as well sit tight until they start getting court orders.

[londonlady]

I am in the same position as the OP. I have now have debts with several different pay day loan companies. I got myself into a stupid mess, and I really need to stop the circle before it gets even worse.

 

So from what I gather in this thread, it is best to change your account and then email the companies asking to pay a monthly amount. What is the best way to pay the money to them? It would seem risky to change bank accounts and then give them the new information to them for the payments. Also, is there a template letter available to send to the companies? I hope this doesn't come across as hijacking the OP's thread, but it seemed sensible to post in here since it is of the same nature.

 

I've never been in debt before, so I am a little scared and freaked out.

[Jamie Kingston]

london lady, start by listing the payday lenders, we can then tell you how to deal with each lender.

[londonlady]

Pay Day UK

TXT Loan

Pay Day Express

Lending Stream

Capital One Finance

[Jamie Kingston]

1) call your bank report it lost / stolen and ask them to cancel the old one and send you a new one

2) contact the lenders with an offer, tell them you are unable to meet the agreed payments and have worked out that if they can freeze interest and charges you can pay x amount per month for x number of months

3) you will need to ask for their sort code and account numbers to be able to pay them directly so yo have control over the payments (as long as you pay on time religously that should be fine)

4) confirm the offers in email and start payments

5) PAYDAY UK are one of the easiest to deal with. on the day you default call them up and give your offer then ask for bank details and email confirmation

TXT Loan are awful, i assume you owe them £110.00 - its not worth the hassle in my opinion

Payday Express - contact them before payday by email and follow up on the phone, if the plan goes over 6 - 10 months they should accept

Lending Stream - as above

Capital One Finance - as above

 

keep us posted london lady!!

[londonlady]

Thanks very much for your help! I will do so.

[Super_Ram]

Okay so not updated for a while so thought I would give one

 

So far nothing much has happened.

 

Wage Day Advance I have agreed the Payment plan and all setup ready to go

 

Pounds Till Payday have not got back to me apart from saying they have forwarded my Email to the collections department but they don't email so I will have to call them

 

Wonga have replied saying they cannot arrange a payment plan until the due date as to give me a chance to settle it. I have replied telling them I cannot afford pay it or extend it becasue of the interest charged and to give me their bank details to start payments. Wonga have called me but I didn't answer and just emailed them stating this

 

So far I have heard nothing back from the 2 outstanding so I am not sure what to do. As at the moment I have no bank details to start paying them to at least show I am willing to settle it.

 

So in terms of these should I just wait now till they try and take it and it defaults and go form there

[Jamie Kingston]

when PTP defaults, call them on the day, same with Wonga. The day it doesnt go through, you can then give them your offer and see what they say...

[DaveManchester]

Pounds til Payday will pass to Clarity after an amount of time. I owed them £400 and they accepted £20 a month. Nice.

 

I was in a similar mess as you last year but I did the same, set up payment plans and 6 months later I was free.

 

It's a hard slog but more than worth it.

 

Remember never, ever, to get one again though. No matter what.

[26072004]

I cant beleive Wonga are allowed to refuse to accept an arrangement until you default.

 

Its just an excuse to add interest and charges, to say its to give you a chance to find the money and pay is plain stupid. you know if you can afford it or not

[Super_Ram]

So I have not posted for a while but thought I would give people an update.

 

Worst news was my proposed plan to pay the One Month Loan to eliminate at least one loan but due to emergency repairs on my car I cannot afford to pay them now.

 

So all four Loans have defaulted and the update is

 

One Month Loan - Have already started adding charges/interest and I have stated I cannot pay the full amount back if they keep doing this. They have offered me a 5 month repayment but they have added interest and charges which make the monthly payment near 150 which I have said I can only afford 50 so will see what they say.

 

Wonga - These have insisted on sending 3/4 emails stating I need to pay and I have emailed them back to state I need to start repayments but they seem to be ignoring this and saying phone us to speak to one of our friendly staff so have emailed back again and will wait. They have sent a letter stating they have charged me extra charges/interest so will see what happens

 

PoundstilPayday - Again these have been sending emails since default demanding there money and I have stated I need to setup a payment plan. They have replied stating due to the nature of there company they dont offer payment plans and will send to an external debt collecter if it continues. I have replied saying it is a total lie you cant accept a payment plan and that I will wait till it goes to a third party and discuss the matter with them.

 

WageDayAdvance - I had a payment plan setup and made my 1st payment fine and got a receipt off them. Funnily enough the ony one out of the 4 to try and setup a DD on my account was Wageday but didnt work and I cancelled it. I emailed them a very angry email and got one back with lots of apologies and that it was the system and wont happen again

 

So I am playing the waiting game at the moment and have realised the Charges/Interest will scarily rise while I am sorting this but I am ready to argue the interest and think that even if there is some interest I would rather pay a large sum back over 5/6 months than the smaller amount all in one.

 

I have worked out my finances and with the payment plans I have setup reay when they accept I should be clear of them by June

 

Is there anything I should be doing while I wait, is it a good idea to speak to them now or keep it to Emails

Edited February 5, 2011 by Super_Ram

[Super_Ram]

So a further update incase this helps anyone,

 

I have since the last post which was on the 5th just forwarded the same simple email to them everyday stating they need to contact me regarding my payment arrangement and I would not be able to start paying anything until this was agreed.

 

So finally I have got somewhere with them.

 

Wageday as already said I have a payment arrangement setup and that is going fine and to be reviewed after 3 months, however with a work bonus coming in June and being financially much better from that month onwards I dont think they will have any issue extending the £50 a month for one more month and then I will clear the remaining debt in June. Might I add on this one that the only charge i got was for £35 so that was a relief.

 

Wonga have now agreed this morning to let me pay £50 a month and then clear the balance down in June and there charges were an extra £95 which I accepted to get something in motion

 

Onemonthloan have sent a payment plan this morning stating the new balance whihc actually charges me and extra £180 on top of original balance and have said £50 a month for 2 month and then payment doubles after that. I have replied saying this is unacceptable in terms of I can only afford £50 amonth till june and the extra charges are excessive seen as I informed them of the payment difficulty well before loan due date. I made it clear that a debt agency and CAB have advised me to pay a lot less a month and keep to thes epayments till original balance cleared, which means I do not pay the remaining off in june or accept the extra charges. I told them I will be contacting OFT about this unless something can be agreed.

 

Suprise Suprise as I write this reply they have replied to me reducing the charges down to £80 which is not ideal but acceptable to get the payment started and also agreed I pay £50 a month till june and then clear the balance.

 

Pounds Til Payday have not budged and state they cannot accept payment plans and will be passed to a debt company so I am just send the same email everyday till they either accept orpass to a debt company so I can deal with them.

 

In terms of contacts who were very helpful for me on the different loan companies they were:

 

Wonga

 

errol.damelin

balanceoffer

john.hegarty

tarik.abdellah

 

One Month Loan

 

hkeens

 

Wage Day Advance

 

paul.myers

 

Pounds Till Payday

 

No helpful contact that I know

 

Hope this helps people

[Erica11 - Swift]

Pounds Till Payday do not offer rollovers or extensions as listed in the terms and conditions. Once your repayment date has passed and your loan has not been paid, you will be assigned an account manager who will contact you regarding your loan payment. PTP will be able to hold on to your file for a limited period, in which it is advisable to deal with PTP directly to arrange payment. Once this time period has passed, and your loan has not been paid, your file may be passed on to a third party collection agency who may operate door to door. If you have any queries regarding your overdue payment, kindly contact Pounds Till Payday directly on 0800 234 69 55.

[sillygirl1]

Door to door collectors are not bailiffs and have very little powers. You are not obliged to let them in and sign paperwork on the doorstep orin your own house. There is a simple letter to send revoking any implied right they may have to visit you.

 

If you do get somebody round you can always explain that you need to record the conversation, and use video tape as appropriate....

 

Many door to door collectors work on commission only and can be very aggressive. They should carry ID with them which includes details of the CCL Licence they are using.

[Cait116]

Pounds Till Payday do not offer rollovers or extensions as listed in the terms and conditions. Once your repayment date has passed and your loan has not been paid, you will be assigned an account manager who will contact you regarding your loan payment. PTP will be able to hold on to your file for a limited period, in which it is advisable to deal with PTP directly to arrange payment. Once this time period has passed, and your loan has not been paid, your file may be passed on to a third party collection agency who may operate door to door. If you have any queries regarding your overdue payment, kindly contact Pounds Till Payday directly on 0800 234 69 55.

 

Deal directly with PTP to arrange a payment?? Sorry, but that's just a load of old bo**ocks. This is what I was quoted by one of PTP's staff

"In response to your email Pounds till Payday will not offer any Payment Plans, Roll overs or extensions".

So don't try and make out that you lot are helpful.

[Erica11 - Swift]

Pounds Till Payday want to help all their customers. Should you have any further queries please do not hesitate to contact PTP directly on 08000 327 655 and our staff members will do their best to address your concerns. You may email Customer Relations on [email protected]