Cancelled my bank account details & card number !

[realityman]

I currently have 4 payday loans with one month loan (£200).

wageday advance (£200).

payday uk (£350) &

swift sterland (£350).

 

They are all due on the 23rd of december 2011,

Swift sterland to be paid up in full at £440,

Wageday deferred at £59,

one month loan deferred at £60 &

Payday uk deferred at £109,

 

this will be the 2nd due monthly payment on all four loans.

 

However !!!! because i have fraudulently had a payment of £69 removed from my account by some thieving SH*T called Wenworth finance

& another unsuccessful attempt to remove £74 by Enhance financial services

i have stopped the debit card & opened a new bank account,

which means that the above 4 payday loan companies will not be able to take their payments on the 23rd of December,

but there is no way they are having my bank details even if the fraudulence was nothing to do with them,

 

i cannot risk it as i have heard that some of these companies all share customers details even when they claim that details are secure & protected ??

 

To be totally honest i am thinking of offering a "Payment plan" to the above Payday loan companies because to be honest

i cannot really afford to pay out that ammount each month,

im probably stupid but things have just sort of got out of hand.

 

Will these Payday lenders accept payment by a preloaded credit card or does anyone have any bank details for these Payday lenders,

i can afford to pay £50 a month to each of them which i feel is a generous ammount,

can/will they accept ??

What are my rights ??

how do i stand on this ??

 

No one is ever getting my financial details again believe me.

 

To be fair the 4 Payday lenders i have loans with have been fine up to now

but i dont think they will be too happy when their payments are turned down on the 23rd of December,

but they cannot accuse me of refusing to pay,

even if it is at £50 per month,

 

Help & advice would be most appreciated on this one please,

 

Thanks to everybody who can offer any help

 

I REALLY DO NEED SOME SORT OF GUIDANCE ON THIS ?????????????????

Edited December 16, 2011 by realityman

[Bombaymix]

Hi realityman.

 

Ok. Get ready for a bumpy ride.

 

You've now decided that you aren't in a financial position to keep rolling over these loans?

 

First thing to do. Email or write to all of the companies advising them of the situation. They'll ask for income and expenditure sheets and probably bank statements. You don't have to send bank statements.

 

Offer them what you can comfortably afford to pay. Request that they freeze interest and do not add any further charges.

 

If they agree to payment plans... They'll provide you with alternative payment methods if you tell them you no longer have an account with a debit card. I don't think they could refuse payment from a pre pay visa card.

 

Do these company's have your work telephone number? They WILL hound you via phone. Might be worth asking them beforehand to remove your work number. You may be able to edit your personal details if any of them have a customer login section on their websites.

 

I'm new to this myself. I'm currently trying to get wagedayadvance and payday express to agree to my existing debt management plan. Wagedayadvance are being very quiet, unfortunately paydayexpress are making up for WDA's muteness with their constant phone calls.

 

If you are serious about jumping off the payday loan merry go round... Do not rollover again. They'll try and persuade you to extend for another month but then give you the same grief next month.

 

A lot of people in the same boat mate. I'm sure the others will be along soon to offer you further advice.

 

Regards

 

AB

[realityman]

Thanks for that bombaymix, its not as if im refusing to pay ?

[Bombaymix]

That's definately the key mate. You are not avoiding the debt, simply trying to work with the pdl company's to work out a repayment plan.

 

Good luck. Please keep us updated

[quackquack]

Email each pdlc asking for a payment plan don't speak on the phone to them stick to ur guns and the most they will do is pass it to a dca which means ul get a plan in place and tell them if they phone ur work place ul report them to oft and only reply by email ..make sure u have cancelled all direct debits to them and cancel ur debit card tell ur bank its lost and only pay them by faster payment thru ur bank and ul be just fine and soon ul be back in control and not them ,good luck stick with it and itl all work out good I promise

[quackquack]

Keep us posted so we can help u further if needed

[realityman]

Thanks quackquack that has helped, you read on here about people getting away with paying these loans off with silly ammounts of £5 per month but i am offering between £50 & £100 per month so they cannot say i am refusing to comply or anything like that, i am OFFERING to pay & not refusing ?

[asmilecostsnothing]

OK good, but you need to be telling who-ever you owe money to and not us x

personally the lowest point for me would be dealing with a debt collector (they will be after the same thing as the payday loan companies, usually a plan is offered over 4 months max and they can add on charges for it going to a third party agent!!) but believe me this can avoided due to early open and frank communications with the orginal lender

 

Please do not diss anybody only ever paying a fiver - every little does help they could be out of work or are paying this amount whilst they clear another larger debt with a less understanding company - everybody's case can be treated differently same as it does also largely depend on who your lenders are too I'm afraid

Edited December 18, 2011 by asmilecostsnothing
removal of word

[sillygirl1]

Actually it is very much against the OFT Guidelines on debt collecting to charge for using a debt collector, these fees are UNLAWFUL.

[asmilecostsnothing]

Oh really - I must be on another planet then

Not what I was told by Consumer Direct sorry Sillygirl x

[realityman]

Sorry i never meant to diss or insult anybody on here, no offence meant !

[Bombaymix]

How are you getting on realityman? Are they playing ball with you?