Depressed and worried over payday loan hell -

[freeofdebt]

Hi,

Any advice would be much appreciated, currently I have the following payday loans -

Txtloan - £300 (£57 interest due on 5/10)

Wonga - £1000 (£318.81 interest due on 14/10)

Swift Sterling - £450 (£134.91 interest due on 14/10)

I have come to the decision to finally get this mess sorted out so I have cancelled my debit card meaning I will default on on Txtloan on 5/10 and the rest on the 14/10/. Through researching it seems Txtloan and Wonga do accept payment plans at a push but Swift Sterling are a nightmare. I will propose the following repayment plan to Txtloan - £60p/m, Wonga £164.85p/m and SwiftSterling £80p/m. Can anyone please advise are my planned repayment offers acceptable? will they contact me at work which I am terrifed about?

Can anyone advise the best way to contact these companies and should I wait until my loan defaults or be proactive and contact them this week?

Thank you

[asmilecostsnothing]

Try emailing if you can (be aware some companies just won't reply via email) but as a back up also send letter by post (even a 2nd class stamp will do and free postage certificate can be got from the post office counter)

I'd get on to it as soon as - don't wait till default day, it could even get you a more favourable outcome and lesser charges

 

I don't have any experience of your creditors (now there is a first for me!) but many will set up repayment plans without to much grief

if not you've the right to complain

 

If they do start ringing work there's a letter you can send and just keep copies of your correspondence to prove you have attempted contact

 

You CAN do it from this reformed payday loan addict!

[asmilecostsnothing]

Also if your able to start making those payments I would, into the bank details you can get for each of the companies you've got listed - definately gives you the strength and shows that you'll be committed to the payment plan then they will have difficulties in refusing your planned offer imo

[indebt00]

hiya Freeofdebt

 

wonga and text loan will agree to the repaymet plan not sure about swift sterling sorry. Write each a email with proposal details also ask to keep everything in writing and you do not wish to be contacted in work or by telephone. Also change your bank account details. Contact them straight away [email protected] and with txt loan go on there website x

i personally wouldnt pay anything untill a agreement is set in place. They should agree to your plan. Goodluck x

[asmilecostsnothing]

*i personally wouldnt pay anything untill a agreement is set in place* Well I got to say thats just asking for trouble as setting up plans can even take a while a few weeks depending on how it's approached

 

Defaulting is a serious business - has many consequences you only have to look back through these threads to see what can happen

 

As the orginal poster says they have sorted new card/account - please stop scaring people there is nothing worse then a blind panic

After regaining control if you play fair and co-operate with your creditors your account is not 'raided' (unless you try to get another payday loan of course that means in effect your card details are back on the market as a lot of the companies are either connected or under a whole host of names as wrong as this is) I really do write this as someone who has paid by direct debit and as a point of sale transaction now to two payday loan creditors on no less then two occasions now.

 

This will be the last message I post in help unless asked, as I understood the consequences of my actions when loans were taken out and don't wish to further jeopardise my own journey out of debt

 

Good luck all, you got to believe your glass is always 'half full!

xx

[indebt00]

im not scaring anyone only trying to help!!!! the only reason i said i wouldnt pay if theres no repayment plan set in place is because they would still be harassing you!! And ive personally dealt with wonga and text loan and they agree to repayment plans fairly quick!!!! You cant pay what you havent got. And dont worry freeofdebt weve been through the same or similar, were here to help x

[KOWENS132]

I am currently paying both Wonga and TXTloan by repayment plan over a two & three month period. Txtloan added another months interest and Wonga froze all charges and interest. Both allowed me to pay them by standing order on dates that were more convenient for me. All arranged by email and with no hassle by phone. To be honest with all the negativity towards these companies I was dreading it, but they were both easy to deal with.

[martin2006]

All that you should pay is the original loan plus 1 months interest less any amount you have already paid.

 

Once you have paid that amount, tell them to swivel

[setterguy]

Hi

 

New to these forums but not new in the sense I have fallen into the trap of using these PDL companies.

 

Does anyone have bank a/c details for Swift Sterling & Quickquid so I can make manageable repayments of what I owe?

 

Your help would be appreciated as the US collectors chasing me are not v nice !

 

Thanks

 

Setterguy

[quackquack]

Quick quid will only let u pay by pay pal.direct debit or debit card they won't accept pre paid debit cards as they are not very helpfull so be very carefull which way u choose to pay as they regulaly raid bank accounts illegally and u may find all ur money gone .maybe a seperate account u can open just to pay ur pdl off

[freeofdebt]

Update on my situation! - Well I have some good news and bad news so far Wonga have been great in my opinion and have agreed to 8 installments of £152.40 pm and have frozen my current balance so I have saved money by contacting them early.

Txt loan however have replied with the following -

 

Thank you for contacting us.

 

As you require a repayment plan for a longer period of time during

which the Credit Cycle period will be exceeded, the full overdue

balance needs to be cleared - £554 (at which point the charges are

frozen).

 

We are prepared to accept £60 monthly payments.

Please be so kind as to provide the exact dates we can debit your card.

 

---------------------------------------------------------------------------------

 

I have no plans whatsoever to give them my new debit card details, hopefully they will accept a standing order payment plan. I did offer to pay them £60 pm until the exisitng balance was cleared (£351) however their response has been depressing. How can they add these charges I have been honest with them and yet they do this. Is there any way I can get these charges reduced in the time frame I proposed? any advice please. Thanks to everyone for being so helpful it was invaluable in making this progress so far

[freeofdebt]

Hi,

I feel so ashamed of myself taking out a number of payday loans and then taking out more to cover the interest I pay on existing loans every month. On the 15th November I have the following loans due which I cannot afford to extend anymore -

 

Quickquid - £1295

Swiftsterling £500

Wage Day Advance - £375

247 Moneybox - £115

Mr Lender - £270

 

I have a template email made out to all, I am terrified they will add on extortionate interest rates after I default. I am also very worred about these lot calling me at work which I know will put my employment in jepordy. After doing some research I realise Quickquid, Swift Sterling and Mr Lender to be very awkward to deal with?? As Quick Quid seem only to agree to 3 month repayment plans there is no way I can afford to repay that amount. I have an overdraft of £1500 so I cannot close my current account, I am going to cancel my debit card this week.

 

1. How am I going to get out of this hell?

2. Should I let all loans go to debt collection agencies as they are easier to deal with?

3. On my day of default should I make a token payment to all?

4. Do they call at work and knock on doors?

 

Any advice would be fantastic.

Thank you

[quackquack]

Hi,

I feel so ashamed of myself taking out a number of payday loans and then taking out more to cover the interest I pay on existing loans every month. On the 15th November I have the following loans due which I cannot afford to extend anymore -

 

Quickquid - £1295

Swiftsterling £500

Wage Day Advance - £375

247 Moneybox - £115

Mr Lender - £270

 

I have a template email made out to all, I am terrified they will add on extortionate interest rates after I default. I am also very worred about these lot calling me at work which I know will put my employment in jepordy. After doing some research I realise Quickquid, Swift Sterling and Mr Lender to be very awkward to deal with?? As Quick Quid seem only to agree to 3 month repayment plans there is no way I can afford to repay that amount. I have an overdraft of £1500 so I cannot close my current account, I am going to cancel my debit card this week.

 

1. How am I going to get out of this hell?

2. Should I let all loans go to debt collection agencies as they are easier to deal with?

3. On my day of default should I make a token payment to all?

4. Do they call at work and knock on doors?

 

Any advice would be fantastic.

Thank you

Hello please read my forums on quick quid and they do payment terms of four months ..please stop worrying it will all work out fine I promise u I was in ur situation still am for one more month .default with all of them asap and cancel ur bank card as lost and order another one until all payday loans are on a plan and u have it in writing from them prefably by email and try not to talk on the phone to them as they can be quite nasty but u have to do this to get ur life back on track now and see templates on this forum about sending each and every one of them a letter or email asking them not to phone ur work place and ul soon be glad u defaulted as they will put u on a plan as soon as u have passed ur due date but I will say not all of them are easy to deal with and you should look through all the payday loan forums to help you how to deal effectivly with them ..good luck chin up you can do this if I can anyone can xxxxxxx

[freeofdebt]

Hi,

I am due to default on a number of Payday loan companies on the 15th November and most of them are known as notorious for calling at work, I am more terrified with each day approaching. Can anyone please give me some points to say to them to stop calling? I am going to send each one a standard letter offering a repayment plan and instructing them the only way I will communicate is via email. However I fully expect most to ignore this request. Should I state to them they are harrassing me and I will contact the police? should I state to them I will report them to the OFT? and advice would me most welcome.

Please help,

Thanks

[Spiral123]

Freeofdebt, standard letter you are going to send them is fine, but as you say some/all may ignore your request & if they do email/mail to them this template letter in the Library section:

 

http://www.consumeractiongroup.co.uk/forum/content.php?493-Harassment-by-telephone-response-letter

 

Good luck & stand firm to these bully boys, I too had to go through the harrassment but I have stood firm & all bar Cash Genie are on payment plans, CG really are a nasty piece of work. Remember to do all the standard things, report Debit card stolen, change wages to be paid into a different bank account if possible, (I was fine as i am with RBS/Ulster bank & they dont allow any payments through on a new debit card in the same account, thank god.)

[freeofdebt]

Hi,

This morning I finally got the courage to contact QuickQuid, WageDayAdvance, Swift Sterling and Mr.Lender regarding setting up a repayment plan with them to get rid of my payday loan hell once and for all and get on with my life.

The replies I have got so far are -

Swift Sterling calling and texting me, I have emailed them back stating I will only communicate via email as I stated in my orginal letter to them.

WDA have emailed me asking why I cannot make the original payment? I do not want to tell them much and just want to get it sorted. What should I say??

QuickQuid replied and want me to call their collections dept. or use their live chat facility.

Mr.Lender no response yet, I used the email facility on their website has anyone got an email address for them??

Any advice please on how to deal with above would be great, I feel much better now but I realise I have a long way to go yet and it will probably get very very messy.

[manaboutadog]

Hi

Mr lender will go with a payment plan but they like a token payment there and then i have a debt of £169 with them they wanted £40 token payment then £43 a month to clear all i will say is go with what u can afford they cant get blood from a stone can they i feel much better knowing that im getting some where with the debt and not rolling it over all the time to line these companys pockets

[quackquack]

HELLO I HAVE EXPERIENCE WITH QUICK QUID NOT GOOD BUT CAME GOOD IN THE END /PLEASE EMAIL THEM NOT PHONE THEM OR ONLY TALK BY LIVE CHAT TO THEM REGARDS A PAYMENT PLAN ..I HAD A PAYMENT PLAN JUST RECENTLY FOR 4 MONTHS AS THATS THE MOST THEY WILL AGREE ON BUT IF YOU PHONE THEM THEY WILL BE RUDE AND THEY CANT OR WONT LISTEN TO YOU AND THEY APPEAR THICK NOT UNDERSTANDING CUSTOMERS ISSUES.THEY WILL NOT ALLOW YOU TO PAY WHAT YOU WANT ON A PLAN AS THEY WILL CALCULATE WHAT YOU CURRENTLY OWE AND DIVIDE THAT INTO A PLAN EQUALLY PROBABLY OVER 3 OR 4 MONTHS ONLY AND IF YOU DONT AGREE TO THIS THEN ITS SENT TO A DEBT COLLECTOR SO GOOD LUCK I HOPE U GET SORTED

[Oh ffs]

Have you defaulted on any of these loans yet? Quick Quid were tricky to deal with in terms of flexibility, in the end I agreed to a 4 part repayment schedule which I knew I would struggle to honour but that's the only way they'd do it. Having missed two of these payments I contacted them again this week and got two repayment proposals. I phoned earlier today to accept one and they offered me a lower settlement fee if I could pay this over the next 2 months.

 

I think with Quick Quid they are happier to negotiate if they can see you're making headway into the debt. I wouldn't advise this strategy at all, but I'm passing on this info to show if you don't panic you can get things to work out ok with these companies.

[freeofdebt]

Thanks to everyone who has replied so far, I haven't defaulted on any of my loans yet they are all due next week. WageDayAdvance responded today and want me to fill out an income and expenditure sheet and also send them lasts months bank statement. I do need want to supply them with this information but should I to get them to agree? I have told them I have no problem paying them off in full but I think they are being a bit awkward now. They also said on the email they will still try and get the full amount on the agreed date and I will receive emails, calls and texts after this! this is after me clearly stating I will only commincate via email. Any advice please would be welcome.

[quackquack]

d so far, I haven't defaulted on any of my loans yet they are all due next week. WageDayAdvance responded today and want me to fill out an income and expenditure sheet and also send them lasts months bank statement. I do need want to supply them with this information but should I to get them to agree? I have told them I have no problem paying them off in full but I think they are being a bit awkward now. They also said on the email they will still try and get the full amount on the agreed date and I will receive emails, calls and texts after this! this is after me clearly stating I will only commincate via email. Any advice please would be welcome.

 

Hello I deliberatly defaulted with poundstill payday and got a good result and paid them off on a payment plan and quick quick raided my account when I had an agreed extension in place but they did me a favour in the end because they put me on a 4 month plan and I got rid of them but my bank got me my money back from the raid so if u need any more help please see my forum on quickquid etc and good luck to u xxx

[quackquack]

d so far, I haven't defaulted on any of my loans yet they are all due next week. WageDayAdvance responded today and want me to fill out an income and expenditure sheet and also send them lasts months bank statement. I do need want to supply them with this information but should I to get them to agree? I have told them I have no problem paying them off in full but I think they are being a bit awkward now. They also said on the email they will still try and get the full amount on the agreed date and I will receive emails, calls and texts after this! this is after me clearly stating I will only commincate via email. Any advice please would be welcome.

 

Hello I deliberatly defaulted with poundstill payday and got a good result and paid them off on a payment plan and quick quick raided my account when I had an agreed extension in place but they did me a favour in the end because they put me on a 4 month plan and I got rid of them but my bank got me my money back from the raid so if u need any more help please see my forum on quickquid etc and good luck to u xxx

 

Also cancel all direct debits and report ur bank card as stolen and they cannot take any funds out

[freeofdebt]

Thank you quickquack on your reply I will take a look at your forum on quickquid, I have a loan outstanding of 1200 approx and there is no way I can afford to pay 300 p/m to pay it off i'm not sure what to do??can anyone advise please on WageDayAdvance who responded yesterday to my repayment plan. They want me to fill out an income and expenditure sheet and also send them lasts months bank statement. I do need want to supply them with this information but should I to get them to agree?they also stated they will call and text me if I default even though I stated I will communicate via email only. Any advice would be welcome

[quackquack]

some people have secured a sucessfull payment plan with quick quid via instant chat ,everyones experiences are different but hopefully helpfull to everyone ,poundstillpayday are a nightmare unless u agree to keep in contact regulaly like i did otherwise you get snotty emails and calls and please wait for info on wda regards sending documentation someone who knows them well will answer you soon ,,good luck:|

[Kitten1]

Unless you can remove all details such as acc number and sort code from your statement, I personally wouldn't send it.

 

I refused to send statements to any of my creditors as it is sensitive and personal information, similarily with an i&e. I told them what went in, what went out and how much was left for each creditor. That was it and if they didn't like it, they could lump it.

 

Dca's are usually ok to deal with as long as you are firm with them.