Spiraling down........

[gelfling10]

Hi all, have been reading through everything on this thread and can see how easy it is to get bogged down with debt to these payday loan companies! Have been through all the things most people have posted! The only one i found strange was Mr Lender sent me a txt saying "we are pleased to confirm we have settled your account now for £745.50. If you require a reloan etc"??????? They have not taken any money out of my account and I cant understand this txt. Is this a sneaky way of getting me to contact them by phone? any advice greatly appreciated!

[The_Rev]

Strange indeed. Maybe it's worth keeping that text in case they get nasty!

 

I was in a payment plan with Mr Lender and have to say they were one of the better ones to deal with when it came to agreeing to a repayment. I owed about £330.00 in total and did have to pay £40 to set it up (which was a set-up fee they include then a payment to begin the payment plan) but everything was fine after that and I never had issues with them when it came to my payment dates.

 

As an aside: I do find it funny that their tag line is "your friend until payday"!

[gelfling10]

Have kept the txt (+ others!) in a wee folder! mmmm. all of these guys seem to have the same protocol, some nastier than others. Quikquid involve Gothia - most of them seem fond of Fredrickson tho! Who are the nastiest of the bunch - I have fell into the trap of borrowing more and more until I owe most of my wages out, then when they take the money on payday - I claw it back from them plus a wee bit more! How in hell can I get out of this????? Started when I had to got to scotland urgently because grandad was dying, over a year ago now, and now it seems like my wages completely belong to someone else:dizzy:

[sillygirl1]

What you have to do is set up an alternative bank account, get your salary paid into that and then start negotiating... the companies like to huff and puff and threaten court but if you have rolled over your loan three or four times its best to put the loans into one pot, try to pay off the smaller ones first and then part pay the bigger ones, its known as snowballing.

 

You need to keep all contact by email as it is easier to have a trail that you tried to negotiated with these companies that way. Email them daily if necessary (after all they do it to you).

 

Halifax Easycash is a good option, you apply online and then have full banking facilities (no chequebook and no overdraft facilities).

[gelfling10]

Thanks, but what happens if I have an overdraft on my account at the minute, how does a switch work then?