pay day loans and debt management plan

[janes]

hi

i have stupidly got into a mess with revolving payday loans total now 3 £3000

 

I have contacted cccs who have worked out a payment plan for me - at last i can sleep at night

 

however will payday companies accept it means i will not pay them off for 49 months!

 

if they dont accept what can i expect i am terrified they will turn up at my door or work place

the payday companies

 

quick quid £ 1600 wonga £1000 Sterling £ 400

 

this is not what i borrowed but total amount it now stands at with interest

[sillygirl1]

They will ignore CCS, you need to work on the basis of what you borrowed plus one months interest - NO MORE, these loan companies play on your ignorance and fear, do not let them.

 

They CANNOT take money from you at work or on your doorstep no matter what they say, they need a court order to take money from your wages but that is a long way off and unlikely to happen.

 

You do need to get an alternative bank account though to prevent them taking whatever they can when they want.Halifax Easycash and the Co-op are good alternatives.

 

What you can do is email them and let them know you are having problems and deal direct, Wonga are improving and if anyone plays silly idiots send their emails to the Office of Fair Trading and Trading Standards.

[thorntondog]

I have been on a DMP with CCCS for the past year. I had two payday loans with payday uk and quick quid. They accepted the offer from CCCS and I have just finished paying them.

 

Stupid me-- in the meantime I took out another 5 payday loans and I am dealing with them myself. The conditions of a dmp with cccs is not to get any more debt. Learn from my mistakes.

 

I have found cccs to be very supportive

[thorntondog]

I have been on a DMP with CCCS for the past year. I had two payday loans with payday uk and quick quid. They accepted the offer from CCCS and I have just finished paying them.

 

Stupid me-- in the meantime I took out another 5 payday loans and I am dealing with them myself. The conditions of a dmp with cccs is not to get any more debt. Learn from my mistakes.

 

I have found cccs to be very supportive

[janes]

I have been on a DMP with CCCS for the past year. I had two payday loans with payday uk and quick quid. They accepted the offer from CCCS and I have just finished paying them.

 

Stupid me-- in the meantime I took out another 5 payday loans and I am dealing with them myself. The conditions of a dmp with cccs is not to get any more debt. Learn from my mistakes.

 

I have found cccs to be very supportive

 

Thanks I am hoping that i can be debt free in next 4 years

 

How long Did cccs allocate to payday loans - I just cant see them accepting 4 years but everyone else has to

[janes]

thanks I will email them today although Wonga have not been chasing me and seem to be quiet reasonable although they dont know yet that I have had advice from cccs.

[sillygirl1]

You are not obliged to tell them where you get your advice, just tell them you are dealing with it yourself to save money and time involving unreliable third parties....

[thorntondog]

I paid cccs £165 a month. My plan is also for four years but CCCS paid my payday loans about £25 a month and all the other creditors £5. My cccs plan is still running for another 3 years but the payday loans which were on it have now finished so all my other creditors get a bit more.

[IN-Trouble]

If you are getting into a DMP, then CCCS are the only reliable ones as they are a charity and wont fleece you like the rest, however some payday companies wont deal with them, then youl have to deal with them yourself, offering them a repayment plan with a monthly payment you can afford.

[janes]

You are not obliged to tell them where you get your advice, just tell them you are dealing with it yourself to save money and time involving unreliable third parties....

 

 

Hi thanks all you have take a weight off my mind I was getting really worried. Glad you are all getting debts under control. Hope I can also be debt free soon

[HorisLefta]

Thanks for the useful advice in this thread. I am about to go into a DMP over 3 Payday loans - PDUK, Wonga and Lending Stream. Does anyone have direct experience of dealing with any of these as I am terrified as to what they may do - threatening calls etc.I owe a total of £2330, which will take me around 16 months to pay off - I am currently setting up my plan with CCCS

[ksmiggy]

PDUK and wonga are usually fine, lending stream not dealt with, but have heard bad things about them.

[26072004]

If you have entered a DMP, everytime they try to make contact with you refer them to the CCCS, they are not allowed to contact you if they do report them to the OFT.