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Hi i know it is my own stupid fault but i have fell into the payday loans trap i have a few loans and i cannot make the payments this month what shall i do i am scared they will inform my employers i have cancelled my card with the bank and direct debits what shall i do next

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Can you list the debts and the companies involved? Then we can offer you advice. Don't worry, there are plenty of us who have done it and are coming out of the other side.

 

It would also be wise to transfer any money from the account that they have details for, as some companies have been known to plunder accounts.

"In this situation, you know what you have to do? Just keep swimming, swimming, swimming." Dory - Finding Nemo.:wink:

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Oh and they are NOT allowed to discuss your private business with anyone else. Can you log into your accounts and change your numbers?

"In this situation, you know what you have to do? Just keep swimming, swimming, swimming." Dory - Finding Nemo.:wink:

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Hi betty. Make reasonable offer of payment plan subject to all charges and interest being frozen. PTP are a pain but will pass to a dca that will be more reasonable. Pde will also agree monthly plans. Basic rule is to protect your funds by losing card or getting new account and then they will have to negotiate with you on your terms.

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thanks for advice i will email all of them tomorrow i have cancelled all cards and direct debits i am just concerned in case they contact my employer how much do you think is a reasonable offer for them to accept

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plenty of threads here for you to read

and follow the advise given

 

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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Pounds til payday won't accept a payment plan but soon pass it on to clarity. They will accept a plan and will provide bank details so you can set up a standing order.

 

I don't have any experience of the others personally but, as a rule of thumb, you work out what you can afford and keep emailing them until they either accept or pass to a dca. That's what I did and have plans set up now, all being paid via standing order.

"In this situation, you know what you have to do? Just keep swimming, swimming, swimming." Dory - Finding Nemo.:wink:

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i have asked pounds till payday for a payment plan awaiting reply heard nothing from payday express 1 month loan have accepted my offer speedy dosh are being awkward will accept nothing less than £54 a month which is more than the rollover fee amonth

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A good start. PTP will agree to nothing so you will have to wait till to pass on to DCA. Just stand firm with Speedydosh until they agree to a reasonable figure. In the meantime the only company that gets paid is OML who have been reasonable.

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  • 1 month later...

I too fell in to default with several PDL's.

 

I managed to agree to a payment plan with 1Month Loan for £20. They said this was the minimum monthly payments they would accept. I was able to set it up via Standing Oder too as I had cancelled my cards and refused to give them my new details.

 

Is £20 something you could stretch to, as it would allow you to stop worrying about them and focussing on the harder to agree with companies?

 

Hope this helps.

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