Much help needed.

[FrankieUK]

Never thought i would be doing this at this time but i just can't sleep with the worry of what tomorrow will bring and i hope someone could point me in the right direction.

 

I got 1 payday loan because my friend told me about it and after finding out how easy it was i did it again and again but with other companies here is the breakdown.

 

Wonga - 1200 pounds (paid about 30 pounds off i know its not a lot but its a start

Minicredit 800 pounds (original loan 100 pounds)

Peachy loans 400 pounds (original loan 100 pounds plus 15 interest)

TXT Loans 2, 412 pounds (original loan 200 pounds) they are now with fredrickson and i have paid 60 pounds.

 

I have defaulted on them all from what i gather (i don't even know what defaulted means!)

 

Natwest 2000 pounds which is from 2008/2009 but i have heard nothing from them for years but now i just wanna do something about it.

 

And thats it, i feel ashamed and sick that i have got myself into this mess and i was gullible enough to try these loans, no one not even my step mother knows about them and i can't bare to tell her and i don't think i will until i know im sorting it out.

 

Why do companies act like this when they make you feel small.

 

My step mum is my carers so i'm on little money 350 pounds to be exact.

 

So where should i start? would ringing these charity organasations be of any help because i feel i can't do this by myself.

 

Thanks for listening and i welcome any advice

 

Frankie.

 

P.S i posted a few months ago but didn't care to come back, but now its time to stop hiding behind it.

Edited January 5, 2012 by FrankieUK

[FrankieUK]

Just got a letter from fredrickson, all of these debts so far have been sold to them! so my minicredit now stands at over 1000 pounds and im paying 60 pound per month i suppose this is a start!, i just know im going to struggle with money by the time i pay the money to them all.

[ataloss]

Hi FrankieUK

 

If you need a carer, do you have a case worker or professional who may be able to point you in the direction of a charitable organisation who can help you? If the debts have been sold on, Frericksons don't have a consumer credit licence so they can't add any interest. If you stick to the payments agreed, fine, if you don't they can go for a CCJ (County Court Judgement) which will incur costs being added to your debt. Sometimes we learn quicker if it hurts to put right the mistakes that we have made. Because you are on benefits mioght be worth a trip to the CAB (Citizens Advice Bureau) for them to do you a financial statement. They can then assess what you can afford to pay without experiencing financial hardship. They also have draft letters that you can send to your creditors to inform them of your situation.

[FrankieUK]

Thanks atalogg, my carer is my step mum but she knows nothing about my situation, ill only tell her when i have proved im controlling it if that makes sense, i got 2 ;etters from fredkrickon because i missed both payments but i got 1 letter saying they will give me a second chance to keep up with payments which i thought was nice, its getting better not worse, i emailed payplan and they should be calling on monday, thanks again and ill keep you updated!.

[rebel11]

Hi Frankie

 

From monday 8th I believe that a Credit Union can help you with your remaining debt.

 

http://www.itv.com/daybreak/money/ph...islation-2012/

 

http://www.abcul.org/media-and-research/news/view/193

 

Finding a Credit Union :- http://www.findyourcreditunion.c o.uk/home

[quackquack]

Ask fredrickson to reduce ur payment plan as it seems its costing u far too much but also wait and see what payplan come up with too who may help negotiate a better deal for u ....keep us posted and good luck ul be fine let us know how it goes xxxx:razz:

Edited January 9, 2012 by quackquack

[ataloss]

Thanks atalogg, my carer is my step mum but she knows nothing about my situation, ill only tell her when i have proved im controlling it if that makes sense, i got 2 ;etters from fredkrickon because i missed both payments but i got 1 letter saying they will give me a second chance to keep up with payments which i thought was nice, its getting better not worse, i emailed payplan and they should be calling on monday, thanks again and ill keep you updated!.

Rooting for you today, and may your creditors accept the situation and be guided compassionately to devise a sustainable payment plan for you.