6 payday loans + 1 everyday loan

[kgg01]

I really need help

 

I have to give around £6000 to the 7 loan companies. they are: -

 

- wonga

- mini credit

- leanding stream

- txtloan

-payday uk

-wage day advance

- everyday loan

 

I want to start up with payplan but i am sooo scared currently, i live with my parents and work full time, i dont want 2 let me parents know about this and want 2 get it sorted ASAP. I am willing to pay £300 a mth and more if i can pull in the over time and any extra work i can get. I cant sleep at night, i can eat properly, sit in my room crying more then time. I will call payplan tomorrow to see what can happen but has anyone gone through this before?

I dont know if all them companies will agree to my DMP. Please help me with this, does anyone know of any debt consildation loans i can take out to help me out with this? as i said i dont mind paying £300 a mth if i can get everyone off my back and then just deal with one company. I dont care much about the interest i will have to pay either with that 1 debt consildation company as long as i cant get the payday loans off me and also everyday loans.

 

Please help, iam going to be sitting on this fourm waiting for someone to answer.....i have problems and i really need help, theres no much google can help me with but them stupid advert but i saw this fourm and see people are getting help, but i need help all the way, i need people who have had problems with the above payday loan companies and everyday loans....Please help.........

[kgg01]

people are viewing but no ones replying....pls help i beg u.....

[Conniff]

Payplan are not a charity debt advisor, they get paid by someone for their service and ultimately that someone must be you. There are free charity debt advice centers.

 

Don't calculate any overtime into your payment, that is not a certain payment and could lead you to missing a payment. You must not offer something you may not be able to keep up the payments on.

 

kgg, it's not a criminal offence to be in debt and you can't go to prison for owing someone something.

 

Someone will be along to help you soon.

Edited August 5, 2011 by Conniff
Corrected info

[kgg01]

thank you conniff

 

i am unable to talk to anyone about this and its hurting me.....just getting a reply has helped me out a bit from the inside....i am unable to tell me parents and just feel like i am getting nowhere.....any more help from anyone would be appriciated. i want to just pay 300 a month and if i do get the overtime i would like to give it in as extra to help me clear it faster, i will not be keeping to it every month bur just adding extra cash on from time 2 time

[dx100uk]

how old are these loans

 

it might well pay you in the long run to let them goto dca's as at the end of the day, all any of them can ever get out of you is the loan total plus one month interest.

 

once they pass to dca's then you can begin payments

 

you could negotiate or TELL each creditor they will be getting £XX for the next XX months, like it or lump it!

 

there is nothing they can in reality do to you, they dont do court nor ccj's so dont worry on that front.

they cannot either levy [though they will] any charges, just ignore those and dont pay them.

 

i also suggest you have a read of several of the threads in this forum

 

you'll soon getthe idea!!

 

chin up

 

dx

[ukaviator]

Kgg01

Do you mind me asking, how old are you?

Don't count any overtime into your calculations as this is only now and again extra work. Don't leave yourself with nothing to live on each month. Work out an income and expenditure to see how much you can afford. £300 per month is good if you can really afford it. Before you can enter into any negotiations with your creditors, you need to know exactly how much money you can offer them. Look at your budget and see what areas you can cut back on to give you a bit more to play with. Once you’ve established what you can afford to pay, set this as the maximum that you’ll offer as token payments to your creditors.

Creditors will frequently try to make you pay more than you can afford and you may feel as though you’re being pushed into a corner with no other option but to agree. In this scenario, you need to stick to your guns and be adamant that you can only give them a certain amount (as you’ve determined from your budget), with this being your absolute limit. Don’t let creditors bully or intimidate you into agreeing to a payment plan that doesn’t fit your budget and creates more problems for you in the long-term. NEVER EVER TALK to them on the phone, keep everything in writing, a paper trail may come in handy later on.

As you have several non-priority debts and there is some money left to pay these, the money should be distributed amongst the non-priority debts fairly (equitable distribution). Also ask for interest to be frozen. If interest is not frozen your debt will continue to rise Equitable distribution means that each payment should be proportionate to the amount owed to that particular creditor. The formula to work out how much each installment should be is the amount of the debt, divided by the total amount owed, times the amount of income available to pay debts. So, if you had two debts of £2,000 and two of £1,000, and £100 a month available to pay towards your debts, the first two creditors would get £33.33 each and the second two would get £16.67 each. One problem with equitable distribution for multiple debts is that you could end up paying for many years. Hope this helps. . .

[kgg01]

Hi there everyone thanks for posting!!!

 

I am 24 years old, i can afford £300 no problem a mth but worried what these companies will do. has anyone had a run in with Everyday loans? would payplan be able to help me out by talking to my creditors? should i contact them by email or should i wait for them to contact me? i am not picking up phone calls currently thou. breakdown of how much i borrowed from each one: -

 

- wonga - 900

- mini credit - 600

- leanding stream - 400

- txtloan - 350

-payday uk - 500

-wage day advance - 360

- everyday loan - 3000

 

i pay rent of £400 a mth and give the rest to my parents who use it how they see fit for food and council tax, bills e.t.c but i would end up keeping 300 quid for myself out of this somehow without them asking 2 many questions.....would any one advise on getting another loan 2 pay off all of these, i fell in2 this trap as my last job made me take out alot of last min cash from these companies as i needed to pay for my parking around central london and claim back on a different day, but ended up pay alot in interest. i got a new job as of 3 weeks ago which is a desk job, does not involve anything like that from my side and just consist of working and paying £15 for travel a week.

 

Is payplan a good idea or would it be best to go at it alone? Are you sure the DCA will only charge me the orginal amount plus 1 mths interet?

[ksmiggy]

They will try to charge you more, you just have to remember a few things ,they will lie to , they will try to scare you into paying, bully you into paying, but they will drop all the extras if they do go to court, and if they do go to court, as long as you show you are trying to pay it, will make you pay what you can afford and no more , also you will only pay the original amount plus 1 month interest.

If you can avoid defaulting on WDA and minicredit as they seem the worse ones.

 

If you can pay £300 per month, it might be worth focusing on these two, as the others may set plans up that will start the following month, just an idea, it worked for me, I paid the worser ones off, left the others and negotiated payment plans for the following month, I felt just the same as you, scared I would lose everything, just don't ignore it and do as much as you can to solve it.

 

On a brighter note, you don't have Capital finance one on your list , silver lining to every cloud.

 

If you do feel you need help, use one of the free debt help services, not one you pay for.

[kgg01]

thanks for everyones advice!

 

i have called payplan and going to see what they say this lunch time, at work but still very worried about what is going to happen. I will keep everyone viewing posted and will need help again therefore would love more contribution

 

Thanks to everyone, u lot are stars*

[sillygirl1]

You need to get an alternative bank account set up as some of the companies have a history of taking funds at will... Halifax Easycash is set up online and has full online facilities, everything except cheque book and overdraft. The Co-op is another good option, as is the Post Office.

 

The companies cannot sent bailiffs or doorstep collectors round, they may say they have the right to take goods up to 9 times the value of the loan and they cant, they need to have a court order and that is not easy for them to get, they can easily be defended.

 

You can send them a simple email stating you are experiencing problems (do NOT tell them in detail) and are reviewing your finances and not to call. With everything in email you have a record of who has said what.

 

Here is a sample letter

 

Dear XXX

 

I am experiencing a sudden change of circumstance and ask that you accept XXX (divide each loan into 6) from me for the next three months whilst my finances improve. I would respectfully ask that you do not call me on any phone number, nor request further documentation as I am unable to supply anything as yet. I would also ask that you do not send doorstep collectors or field agents around as I am in a very unstable position.

 

I will keeep you informed weekly and should any 'threatening' emails or phone calls be received (all calls are being automatically recorded due to current circumstances) they will automatically be reported to the Office of Fair Trading and Trading Standards.

 

Yours

 

Keep it short, direct and non-threatening. If they do not play ball get back to us and we can advise further. I can also help with a defence should it be necessary.

[kgg01]

Hi sillygirl1, i read a forum u opened and thank you for replying to me.

 

The thing is i owe so much money that i cant really afford to pay them all within 6 mths, as i said i got 7 active loans, i just got a email from everyday loans to get in touch with them. i am waiting for payplan to give me a call now as i dont have any money this month and my mobile has been disconnected for not paying the bills. It might be able to pay all the payday loans companies back within a year or even earliler but i am not sure about EDL....anyone else have experiance with everyday loans company?

[kgg01]

i just got off the phone to payplan......they said that they will send me letters and i will have to manage it myself.....i dont no what to think of that, i asked for examples of people in my kind of a situation and not much was given to me but them saying that they have a high success rate for issues like this......has anyone been in this kind of a situation? can anyone give me an example of what they were going through?

[Conniff]

As I said before, Payplan are a Limited Company and as such are a fee charging company. Who they get that fee from is irrelevent, it must ultimately be the debtor that pays, so you don't need them. If they don't think they can make money out of you they won't be interested.

 

Visit this site - http://www.nationaldebtline.co.uk/england_wales/ they have everything you need.

Edited August 5, 2011 by Conniff

[kgg01]

right iam more confused then i started off with.....i thought payplan were able to help you for free, they are on the direct gov website......i dont mind paying a fee as long as they get everyone off my back and make it a monthly payment i can afford.....anyone with any options?

 

they also told me to try cccs, are they any good, i need someone that will look after everything and let me know of any problems that may occur........again does anyone know were i can get a loan from except of everyday loan? i dont have a credit history and i reckon now i have a bad one.

[DaveManchester]

Sorry what? You pay your parents rent of £400 pcm and then food, council tax + bills on top of that??? I'd suggest moving out. With regards to Payday loan debts don't stress. I was in a similar situation (3k debt) I cancelled cards, moved bank accounts and dealt with every loan myself. Keep it all to e-mail. Offer what you can afford. £300/7 = £42. Offer them £42 per month each.

[kgg01]

i cant move out as indian families like to stay together + my dad and mum need help, they dont work and they relay on me, u have 3k debt u said, what should be my next move? keep everything to email ok but how should i pay them?

[DaveManchester]

Ah right. Just e-mail the companies. Wonga were very helpful. E-mail them direct and offer your repayment. Then set up standing orders to them.

[Conniff]

Payplan are a limited company not a charity.

 

Sorry, but you got yourself into debt, you can't now expect to just hand it to someone else and forget about it.

 

You say you can afford £300 and then ask

does anyone know were i can get a loan from except of everyday loan?

you are either a fool to yourself or have come here to take the mick and there seems no point in talking about clearing loans and then asking where you can get a loan from.

 

.

 

right iam more confused then i started off with.....i thought payplan were able to help you for free, they are on the direct gov website......i dont mind paying a fee as long as they get everyone off my back and make it a monthly payment i can afford.....anyone with any options?

 

they also told me to try cccs, are they any good, i need someone that will look after everything and let me know of any problems that may occur........again does anyone know were i can get a loan from except of everyday loan? i dont have a credit history and i reckon now i have a bad one.

[Gabi18]

Hi kgg01,

try to pay off minicredit ASAP. when you read more posts here you will see that this company is quite difficult to deal with, regarding payment plans.

I was in the same situation as you are. At the moment I'm with CCCS.This is FREE charity organisation. you can find information about them online. it was quite easy to set up dmplan with them.Do not contact any fee company. I've been with one of them. they charged me a lot and were doing not too much. so I left them and joined CCCS.

And don't forget that you are not alone with debts. Almost everyone on this forum came here because of that.

DO NOT PANIC!!!! AND YOU MUST NOT TAKE MORE LOANS!!!!!!!! It will only male your situation worse.

Try to talk to somebody, like a friend or relative. I know how it is to keep everything inside. I went the same road. I was ashamed because I thought I was the only one having those problems. I was ashamed and was feeling like a criminal although I was paying my creditors what I could afford.

Well, the debt wont go away. You have to deal with that. But here, on that forum there are plenty of people ready to help you with advice. When I came here I knew not much in that matter. Now, thanks to CAGGERS, I'm wiser.

Good luck:)

Gabi18

[kgg01]

mate iam for real.....u just dont no whats going through my head right now, i aint taking the mick, let me pour my heart out alittle bit,

My dad dont work, his obest and have various medical conditions, he stopped working at 50, his 59, my mum kept the family going while i was at uni, in my second year at uni she was made redeundent, i let uni 2 help her, help the family. I didnt know which way to go and took any job coming my way as it was hard times for jobs 3 years ago, after everything i got some money coming in working hard everyday and putting in how much ever overtime i can to get some money and give it to my parents so the whole family can survive, my dad gets ESA which was crap, anyone on esa will tell u the same. my mum was on job seekers for a while but for the last year she found a part time job earning £500 a mth. the whole family was looking up2 me 2 get some money in the house to carry on living, the goverment didnt care about my family becasue i was bring £1300 every mth therefore having to pay full council tax and rent to the council, all other bills food, electricty e.t.c.

 

when i started my job after leaving university i was working as a field service enginner, I had to work around central london as no one else was willing to do this, if anyone else nos how hard it is 2 work around central london as field server they would understand me. I had to claim back expenses from the company and were not always on time. There were points when i could not pay for parking around central to go do a job which could take me 2 hours, i would have to pay around 8-10£ for this, i needed money fast and payday loans were the ONLY option available to me.

 

I had gone to the bank and refused a loan as i didnt have credit cards or overdrafts before as i saw it as a fools game. at 23 i got my first credit card (aqua) to try and rebuilt my credit 2 be able to get these loans but even if i stay up2date with repayments theres no improvement on my credit rating.

 

Now you say i dont have anyone else to blaim for this but me......alright i get that if i think about it hard enough but at the same time i dont no how i would have kept my family going and my job. i read alot about payday loans before i took one out and knew what i was going to be getting myself into but i didnt think it would be this bad!.

 

Why am i asking if i would be able to take another loan out to pay off all of these loans................i got a new job 2 weeks ago, working in technical support, i use the train everday which cost me 20£ a week for travel. I would get paid ontime every mth and its a OK income (1400£). so mate when i tell you belive me i am not taking the mick.

 

i have got to a space were there is nowhere to turn, i thought i could come here and someone somewhere would have went through a similar time that i am going through currently.. i do not want my parents to find out about this which is the main reason of me asking if there is ANY way i can get this cleared, even if that means getting into more debt, but debt i can handle on a mthly bases is what i am looking for.

 

My dad would end up having a heart attack if a person comes knocking on my door asking for me, or taking stuff out of my house and there would be no way i would be able to show my face to my family. i dont even think we have £6000 worth of goods in the house even if including the car.......

 

i tried to explain myself the best way i can 2 for you to understand what i am going through right now, i cant tell anybody, not my parents, family, friends. i need to pour myself out on a fourm of all places in the world.......how do u think i feel currently?

 

please dont be that aggresive next time with me conniff, and maybe u were been aggresive becasue u dont no my situation, hopefully given u a chance 2 understand and also let u no that i understand i got myself in2 this, but at the same time i dont know how else i would have done it if i had a chance 2 do everything again...

[kgg01]

thanks gabi, i will give cccs a call tomorrow morning to see what they can do for me as payplan cant do nothing, gabi did it get hard for u? like creditors just adding interest all the time e.t.c? as i dont have any other options i guess a DMP is the only way. Have they stopped contacting u by phone and letters?

[Gabi18]

with no credit history you won't be able to get any loans - I think. if you will find one it will be probably on very high interest.

i think you have been a bit "oversensitive" saying that no one can understand you. i think you are wrong. most people here - if you read more on this forum - have been in worse situation than you. i don't think that anybody here wants to judge you. try to think reasonable - more loans mean more debts.you can find here really good advice step by step what to do, where to start. try to search similar posts.

all the best!

[Gabi18]

it was easy for me to set up dmp with CCCS. i called them, they sent me via email information that i can do dmp with them, then i called them back, spoke to one of their advisors (depends ho busy they are: they might tell you you need to make an appointment and will give the date and time and you call them then).I called them in the evening.they open till 8pm.They asked me how much I earn, how much I spend each month - dont worry - they are very helpful and really really easy to talk to.

So after that I send them all of the information: names of my creditors, account numbers with creditors (or reference numbers), also outstanding balances for each of the creditors.I have got 12 creditors - and all of them will be paid reduced payments, only what I can afford each month.

I sent info to CCCS via email. Then they sent me "pack", I had to sign the agreement with CCCS, give bank details for direct debit, and i sent it back. after a week or so i got from them "welcome pack" with summary of information I gave them, confirmation of direct debit.

I opened new basic account wit Co-Op Bank and will be using that account to pay that direct debit. My wages are in different account as now I dont believe anybody. I was in the situation that after cancelling direct debit, my debit card one of my creditors still tried to get money and my previous bank I was with let do it and I found myself with unplanned overdraft and bank charges for that.

Do not hesitate and contact CCCS tomorrow. you will feel better, you will feel release.

[UnionCityGirl]

Payplan are not a fee taking DM company - I have been in a DMP with them for 4 years and they have been great, very helpful and easy to work with. They have helped me get lower quotes on car insurance and a few other things. Would definately recommend them. My creditors were not PayDay Loan companies though, not sure if that makes a difference.

 

Seeing Gabi, CCCS are similar and I am sure they will be able to help like Gabi says.

[kgg01]

talking to payplan this afternoon they told me then can help me with advice but not manage it for me, they said i can call them for advice every step of the way but nothing more, a user also put a link up for a website which can help. Payplan do take money off you if you get into a plan, they said that to me over the phone, i asked if i can pay them to get it sorted but they said no, mainly becasue they dont work with payday loans in that way. cccs is the only option, they are a charity and they get helps from banks too. Bank maybe easier to deal with then these payday loan companies, thanks gabi for all the support, really making me feel better and might be able to sleep better knowing that there are other people out there, i did search the fourms which gave me a good insight in2 things, i still think its going to be a hassell but something i will have to go through, pray to God cccs could help me better then payplan did.