What do I do about my payday loans

[foxeeylady]

Hi Everyone

 

I havent a clue what to write can somone help me, I want to get a letter together to post to my 4 payday lenders explaining I want to offer a repayment plan with them, I dont know where to start and what would be the minimum payment plan I got a loan off Quick Quid for £300 and its now gone upto £600 with interest and late charges etc.

[Jamie Kingston]

who are the 4 lenders and how much are they for?

[foxeeylady]

Hi there are for Quick Quid, Wage day adavance, 24/7 money box and 1 month loan, I have just send emails to all 4 companies and wage day advance want recent bank statements I dont want to provide these as its private information, can they request this

[foxeeylady]

Hi do they need a copy of my bank statement my boyfriends wages go into my account and I really dont want them seeing this information. This is the email I received from Wage Day Advance

 

Dear Customer

Thank you for your recent correspondence, please find attached an income expenditure form for you to complete in order for us to accept a reduced monthly payment.

Please complete the form in as much detail as possible and we will also require last months bank statement to support the income expenditure form, please ensure the form & the supporting document/s are returned to us within 5working days. Failure to do so will result in your account been processed which means you will incur daily interest, receive calls, emails & sms.

You also authorise WagedayAdvance to collect outstanding monies from any account details you have provided to us.

Regards,

[foxeeylady]

Hi im not sure how standing orders work ive only ever used Direct Debits.

 

If I set up standing orders with my 4 payday loan accounts and make a repayment offer to them can they take anymore money out etc, I am worried that If I set up standing orders for say £20 each company each month they will try take more etc can this be done or will they not find out my bank details if I set up standing order

[robjam1969]

Standing order is safe as you are making an external payment from your bank. You pay in to their account with a reference no. (usually acc no). As long as you set the order up yourself in the bank and don't let them do it you should be fine. You can also cancel or change at any time.

They can't access your account to take any more buy this method

[Jamie Kingston]

yes, standing order is totally safe,

[Jamie Kingston]

you dont have to send it to them but i dont quite understand what you dont want them seeing? they cannot force you to do anything you dont want to although it helps with negotitations.

[Fagin61]

They have no right at all to see your income and expenditure, I would tell them to Foxtrot Oscar. Who the hell do they think they are? The amount you should pay is what you can afford after you have taken your living costs, rent, food, fuel etc. No more no less, you have a right to live a decent life without sleepless nights.

Incidentially, WDA use Clarity DCA who are a " softer " option that most DCA and are willing to listen to repayment proposals. Life will get better but in my experience people always offer more than they can afford to get the Company off their back. Far from getting better it gets worse as hard sacrifices have to be made. Only offer what you can afford no matter what and do not be bullied.

[foxeeylady]

Hi, I have gone on sick leave from work due to personal issues so can not afford to pay my payday loans, I have Quick Quid, Wage Day Advance, 1 Month Loan and 24/7 money box I have initially emailed all four companies using a templated letter off this site stating I cant afford etc etc, but none of them have got back to me, what should I do now, I want it sorting Im too scared to open my front door incase its debt collectors?

[benfm]

Hi

 

Phone one month loan and explain the situation , they should put you in a payment plan with no problems as they did with me , iam having trouble with wageday advanced as they requested bank statments which i sent but with various transactions blanked out i only left my wages going in , not sure about the other two but iam sure someone will advise

[benfm]

i would also say dont be scared to open your door as your quite away away from door to door debt collectors .

[foxeeylady]

Just received and email from payday company stating they can not arrange a payment plan as I am not in default yet, what do I have to do to be able to arrange a payment plan etc, do I leave it and wait for it to be passed onto a DCA unsure never been in this situation b4

[BRIGADIER2JCS]

Who is the lender?

A little more info will enable us to help.

[Cait116]

Hi, I have gone on sick leave from work due to personal issues so can not afford to pay my payday loans, I have Quick Quid, Wage Day Advance, 1 Month Loan and 24/7 money box I have initially emailed all four companies using a templated letter off this site stating I cant afford etc etc, but none of them have got back to me, what should I do now, I want it sorting Im too scared to open my front door incase its debt collectors?

 

Hiya foxeeylady

 

Have you changed your bank account? When is your default day?

 

Glo x

[foxeeylady]

Hi the lenders are Quick Quid, Wage Day Advance and 24/7 money box, I only got these loans 4wks ago and payment is now due, the reason I have not got the money me and my partner have split up so now I have to pay full for rent etc instead of half

[BRIGADIER2JCS]

Hi sorry to hear about your situation!

The only thing I can suggest is that you pay what you can reasonably afford to each one, at least if you do this

it will show your willingness to clear the debts.

Please don't fall into the trap of borrowing more to pay these off it will only make matters worse.

[yourturntopay]

However getting the bnking details from the Pay Day lenders can be very difficult. If you name the companies, others may have their details, but alot of the PDL's won't give out their banking details as they want to get their grubby mitts on your bank details and then empty tyour bank account.

 

Whatever you do, do not give them any bank details and insist you ca only pay via SO (standing Order) they won 't like it, but some will give in and give their details eventually... Jus keep a copy of theemails/letters you send them, so if they do take you to court you have proof that you have tried to pay them and they have been obstructive and refused payments - thus bumping their charges up as much as they can

[citizenB]

4 threads on the same issue, merged.

 

Please stick to one thread per situation, it is very difficult to advise if half the information is in another thread.