A little advice needed please...

[BurnCK]

I have several payday loans which are now at the point that I can no longer afford, so I decided to do something about it and contact CCCS. They were very helpful and have arranged a DMP for me which will start on the first week in September.They have also provided me with a letter template to send to the PDL companies advising that I am entering into a DMP and that they will be contacted by the CCCS.However, I have repayments that are due this Friday and wanted to know if it is best for me to contact some of the PDL companies to arrange some sort of repayment plan before I default, or do I just default and let CCCS handle it ?I currently have 7 PDL's....3 of which are £200 or less. Would it best for me to pay these 3 this month (I can afford to clear at least half of the debt with these 3 this month) and then default on the rest ?I'm just a bit unsure on how to proceed. I can't help thinking that it would be best to contact these companies before I default to have some sort of repayment plan in place...but at the same time I don't want to undermine anything the CCCS will be doing on my behalf.Please help.

[thorntondog]

I am also with CCCS and they told me that if I can afford to save some money and pay off a debt in full, this is a good idea. I am not in that position at the moment- cant save a penny right now.

 

I think cccs would support you if you are in the position to pay off a debt in full but you would have to contact cccs so they can remove that creditor form your DMP then in September another creditor would get a little more.

[BurnCK]

Thanks, I will pay off those I can afford to this month, but I'm unsure whether to simply default on the rest and wait for CCCS, or try and setup a payment plan myself before defaulting. If I do then it kind of negates the need for CCCS to be involved. If I can get these companies to agree to payment plans then I don't mind not using CCCS, but I didn't think they'd agree to repayments plans without them which is why I contact them in the first place.

[ksmiggy]

I did the same, but since then several have agreed payment plans, like you I no longer see the need for them(CCCS), the ones who havent agreed have broken so many OFT guidelines that they can wait now.

[BurnCK]

OK, a little update after emailing PDL companies.I emailed Wonga advising of my situation. They instantly accepted my proposal of £50 per month for the next 4 months with a final payment of £8. Considering I only owe them £208, this is a better response than I had hoped for.Let's hope the next few replies are as accomodating.

[BurnCK]

Does anyone have an email address for Mr Lender please ? They only have a contact form on their website, and I would like to send all correspondence from my own email address so that I have copies of sent emails.

[ksmiggy]

Txt loan were the same, I took a copy of the convesation as it went along, saved it on word.

[BurnCK]

Ok here's a further update. So far the PDL companies I have spoken to have been reasonable :

 

WONGA - Payment plan arranged. No additional charges or interest.

MR LENDER - Payment plan arranged. Just had to pay 1 months interest.

UNCLE BUCK - Payment plan arranged. Just had to pay 1 months interest.

PAYDAY UK - Will respond tomorrow with proposal.

PAY DAY EXPRESS - Waiting for a reply

EARLY PAYDAY - Was only a small amount so I paid them in full.

QUICK QUID - Waiting for a reply

LIQUID ADVANCE - Was only a small amount so I paid them in full.

 

Fingers crossed that the rest can offer a reasonable payment plan, and if all goes well I'll be rid of all of these by then end of the year

Edited August 11, 2011 by BurnCK