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Payday UK Repayment


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I have recently contacted Payday UK and informed them that I will be unable to pay the full balance £312.50 on the due date or wish to defer the loan again (3rd time). A repayment plan over 5 months has been proposed and I have given them sufficient notice that the money is not there for them. They have come back to me with the following: Dear Keith, Thank you for your email. Unfortunately we are unable to process or set up a repayment plan until the loan repayment has been tried for on your repayment date as per your loan agreement. If the payment of £312.50 fails on the 28/09/2011 then the collections department will be in contact with you and they will be able to discuss the repayment with you further. Kind Regards, Emma-Jane I accept that they will probably default my account after they have tried to take a payment and then try to add charges and interest. Where do I stand with the fact that I have informed them in advance and tried to resolve the issue with a proposal of a repayment plan? All replies greatly appreciated.

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Hi there,

 

Try not to worry, easier said then done as I've been 'very' stressed with this company for nothing now it would seem!! but it would appear this is how they like to operate... (for anyone else having problems) I feel like queen of complaints! lol! I've found that is the only way to get anything done

 

You've done right - just keep all your emails/letters/communication as back up

I've been told it takes around 5 weeks at best to get the re-payment plan set up - I defaulted now around 3 weeks ago and got similar response like you I to was forewarning in advance I couldn't make full payment on due date - have had to be transferred to their customer relations department in the end - hench they have to wait till after default date possibly?

 

I can tell you they don't charge default or penalty fees and will freeze your account (have this in the letter I received from Customer Relations...) so that is something, I just don't get why they like to leave you waiting in limbo

 

Hope this will be of help

Happy to share my experience but for your own protection, please check and double check what myself and other Caggers inform

...

“Nothing in this world can take the place of persistence.”

 

:-)

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I'm in the same boat with Payday UK. I rang them in August and explained that i was unable to pay but had to wait til account defaulted at the end of August. Got a phone call on 01 September and agreed to a 3 month repayment plan starting at the end of September..

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Also they do freeze the interest and no further charges or fee's added on.

 

Yep thats what I've said to - I myself have spoken to the Customer Relations Manager today along with receiving a letter. I also supplied the details they requested about other creditors and their balances, statements etc (I'd previously posted on here as wasn't sure but it did seem to help)

 

Thats all five of my creditors now sorted I'm on the way hopefully - good luck everyone, it (repayment plans) can be done - don't let them grind you down

Happy to share my experience but for your own protection, please check and double check what myself and other Caggers inform

...

“Nothing in this world can take the place of persistence.”

 

:-)

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Well done, and yes payday uk do work like that and are pretty good when things go wrong. So please do not worry, if you do want to speed it along, email them each week asking about it stating you want to get things moving and start payments

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Thank you all for your replies The information you give is very supportive and is much appreciated. To be fair Payday UK have been very helpful , so have Wonga and TXT Loan CFO & Quickquid however are a nightmare - they don't like it though when you take the battle to them with a good level of factual knowledge (all gained from here)

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