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Pleae can anyone help


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Hi

 

I am currently 6 weeks pregnant and really worried about payday loans. We have 4 at the moment, i know it was stupid, i just want to get them sorted before baby is here.

 

They are

QQ £750

Moneyshop £400

Wonga £512

P2P £195

 

The Moneyshop and P2P are due on the 25th and was going to pay them off. Wonga is due 5th April and i was going to save money each week to pay this. QQ is due 11th April and i will not be able to pay that so i was going to defer for a month then in that month save up and pay it off.

 

My question is i owe some on my rent, what is the best course of action. Do i pay all my rent and then go into a debt management plan with my other debts that i pay money to, or do as i was but obv still be in rent arrears. Mainly worried they will harass my husband at work, also our bank account. I have applied for another account but havn't heard yet. Do i cancel my bank card it i go into a debt plan with payplan.

 

Any advice would help me much, really stressed and worried about my unborn baby with it

 

thanks

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Simple answer (in my personal opinion).

 

Rent is an absolute essential outgoing, more essential than debt repayment.

7 years in retail customer service

 

Expertise in letting and rental law for 6 years

 

By trade - I'm an IT engineer working in the housing sector.

 

Please note that any posts made by myself are for information only and should not and must not be taken as correct or factual. If in doubt, consult with a solicitor or other person of equal legal standing.

 

Please click the star if I have helped!!

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Simple answer (in my personal opinion).

 

Rent is an absolute essential outgoing, more essential than debt repayment.

 

 

Hi, i spoke to my manager at work and they have kindly agreed to give me a loan of £500 i pay it back £50 a week from my wages no interest so i am paying wonga off with that, on the 25th i am paying p2p and moneyshop off, now i can pay qq off next month and what i would of been saving on Friday to pay wonga a bit i am paying my rent so i shoule be almost in the clear

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i would read a few threads in this forum

 

and

 

the excellent blog in my sig by sequenci

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hi, i spoke to my manager at work and they have kindly agreed to give me a loan of £500 i pay it back £50 a week from my wages no interest so i am paying wonga off with that, on the 25th i am paying p2p and moneyshop off, now i can pay qq off next month and what i would of been saving on Friday to pay wonga a bit i am paying my rent so i shoule be almost in the clear

 

If you haven't already contacted your lenders and explained the above you could ring them and explain that you have got financial difficulties and mention the other companies. Explain that you could pay a reduced amount as a lump sum to clear the account - suggest 65% of balance. If they aren't willing to take this you will approach the others but as they have been "so good" to you - you are phoning them with the offer first as you can't pay everyone.

 

The worst that could happen is they so no! and you first plan is your option

 

The best is they agree to settle and clear the account for less than you owe and you then phone the next company and do the same.

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If you haven't already contacted your lenders and explained the above you could ring them and explain that you have got financial difficulties and mention the other companies. Explain that you could pay a reduced amount as a lump sum to clear the account - suggest 65% of balance. If they aren't willing to take this you will approach the others but as they have been "so good" to you - you are phoning them with the offer first as you can't pay everyone.

 

The worst that could happen is they so no! and you first plan is your option

 

The best is they agree to settle and clear the account for less than you owe and you then phone the next company and do the same.

 

 

Hi, thanks for replying. Can i do that with payday loans, just worried they will try and clear my bank out so would rather just pay them off and leave them

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Hi, thanks for replying. Can i do that with payday loans, just worried they will try and clear my bank out so would rather just pay them off and leave them

 

 

I presume they have a direct debit to your account if you are worried about them clearing your account. If that is the case cancel the direct debit.

 

Have you issued payday loans with any security ie post dated cheques or anything else.

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I presume they have a direct debit to your account if you are worried about them clearing your account. If that is the case cancel the direct debit.

 

Have you issued payday loans with any security ie post dated cheques or anything else.

 

Only QQ has a direct debit, the others are from my bank card. Checked my bank and no QQ direct debit but looked in the account and if they don't get the funds from bank card they will then issue a direct debit to my bank. So i would just rather pay them off and be done with it. The p2p i have to ring them to pay it off so i will do that on the 25th so no charges can be added.

Have just been my card details.

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Only QQ has a direct debit, the others are from my bank card. Checked my bank and no QQ direct debit but looked in the account and if they don't get the funds from bank card they will then issue a direct debit to my bank. So i would just rather pay them off and be done with it. The p2p i have to ring them to pay it off so i will do that on the 25th so no charges can be added.

Have just been my card details.

 

Ok the easy way is to simply pay them off, but if a replacement card is requested and you get rid of the card they used I presume they couldn't claim payment.

 

Remember if you phone them and say that your trying to resolve a problem that may be just around the corner they could not clear your account as you haven't defaulted on the agreement yet.

 

I haven't seen your agreements so couldn't offer precise or accurate advice. I presume these are credit agreements and thats it. The problem they have is if you are on the way to financial difficulty your bank probably wont have anything in it anyway.

 

In the end peace of mind is the best option

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Ok the easy way is to simply pay them off, but if a replacement card is requested and you get rid of the card they used I presume they couldn't claim payment.

 

Remember if you phone them and say that your trying to resolve a problem that may be just around the corner they could not clear your account as you haven't defaulted on the agreement yet.

 

I haven't seen your agreements so couldn't offer precise or accurate advice. I presume these are credit agreements and thats it. The problem they have is if you are on the way to financial difficulty your bank probably wont have anything in it anyway.

 

In the end peace of mind is the best option

 

I was reading that even if the card is cancelled they can get the money from your account, i have paid wonga off now, wages on Friday i will pay my rent arrears and bills etc. 25th the p2p and moneyshop then start of April the QQ. If it wasn't for my boss i would be stuck. I have set the ball rolling with CCCS for our other debts. Worked out i pay these off i will have £100 a week and as i get paid weekly am ok for now, i just know not to get them again. Thanks for your help

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