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Advice Needed!!!!

 

I have a loan with Pounds Till Payday. I owe them £513 and wish to pay them by installments but they refused. Saying they dont do that and the loan must be settled. the women then went onto say that if we dont pay the loan an account manager will ring us to discuss why. Im thinking that i should cancel the DIrect Debit and wait for the phonecall and then try to come to some agreement to paying it off over 6 months or something.

 

What does everyone think???

 

Are there any tips i could use???

 

Cheers

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Hi,

How much is in arrears,and what was the agreement ?

Best not to deal by phone-ask them to put anything in writing-and you should do the same.


Have a happy and prosperous 2013 by avoiiding Payday loans. If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.Before you decide,consider the users here who have already offered help and support.

Advice offered by Martin3030 is not supported by any legal training or qualification.Members are advised to use the services of fully insured legal professionals when needed.

 

 

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The loan isnt in arrears yet it is due next Friday. I think the original loan amount was £350.

I'm just sick and tired of going round in circles re-loaning all the time.

The loan is in my wifes name and i dont want them to start ringing her work.

Im hoping that if i cancel the direct debit then we should come to some arrangment with the account manager or am i being optimistic???

 

Regards

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PTP wont come to any arrangements. i;ve heard them splitting over 3 months but thats all, and that was rare. they will probably bug the **** out of your wife at work so tell her to answer her mobile that will stop them from calling the work becsause they wont have an excuse to call there if she answers... your wife will give an offer they will probably decline and you'll wait to have it sold to a DCA, then you can sort it out easily with them... they will add charges etc... but you dont have to agree to pay it... i would get in touch with them by email / phone prior to defaulting so if they do add a charge you can say you got in touch with them before it became due.

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Stick to the formula of the original loan plus one months interest, due to the very high interest rate. They will slap on charge after charge.

 

Get another bank account, Halifax or the Post Office both do online accounts, the Halifax one can be done online and you don't get credit checked.

 

PTP are one of the companies with a history of emptying bank accounts.

 

If they try the court route there is a good basic defence which will either send them packing or into mediation.... their terms and conditions are so onerous that most judges will state you need to repay the original loan amount only... and a case can be provided if necessary to show precedence.

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Maybe another route out would be to use another payday loan company to pay off the poundstillpayday loan and then offer them a 6 month pay back option!!!

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I wouldn't go down the path Ripper suggests, it will start the cycle going and you will end up paying more and more interest.

 

Work on the original loan plus one month and send daily emails to their email addresses as proof, stay off the phone and if anyone does phone email the details of the conversation and a request they don't phone.

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Maybe another route out would be to use another payday loan company to pay off the poundstillpayday loan and then offer them a 6 month pay back option!!!

 

this is just silly advice.


 

 

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Im sorry i still dont know what i should be doing!!!!

I dont want them to ringing and ringing.

I just want to come to some arrangement.

I have been talking to them via chat and they have been saying that if i confirm to them i am NOT paying the loan on the day then they will put me thru to a dept that can help me.

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ripper - its simple, they will not accept a plan from you so cut the stressing... they will call and i would deffintely not ignore them, they will ask you to pay you will say the truth that you cant and offer them your £75.00 per month (or whatever), they will decline and say that your balance will increase... next... after this process repeats itself a couple of times debt will get passed onto DCA and you can then negotite balance back down to original and they will probably agree to your original offer... no point ignoring them it will only make matters worse, just stick to your guns..,

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I recently contacted them as I couldn't pay. They added on £59 charge and agreed to wait until my next payday to clear the balance. For a number of reasons I could not do this and after one phone call and an email to explain my situation they left me alone. Two weeks after the second pay date the loan was passed to Clarity credit management who have accepted a reasonable payment plan over 8 months . Don't worry too much my experience has not been too bad at all.

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Hi there,

 

Clarity may help you. Ask them for a reduction of the balance. Tell them your story.

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