Payday Battle

[Guest Poguesy]

Hey

 

Just joined and hoping to share my experience of payday loans with other people.

 

Here is a breakdown of my payday loans and their current situation:

 

24/7 Money Box -

 

£153 owed soon but will default.

 

Cheque Centre -

 

£183.75 owed soon but will default.

 

Money Shop -

 

£312.50 originally owed but has now went up to £525 with the three months interest and late payment charge they add. The loan is now being moved to Castlebridge but i am refusing to pay £525.

 

One Month Loan -

 

£130 originally owed and now stands at £160 if i pay off within this month.

 

Payday Express -

 

£450 owed (down to £425) and now in an affordable repayment plan after weeks of arguing back and forth. No additional charges or interest added.

 

Payday UK -

 

£400 owed (down to £310) and now in an affordable repayment plan. No additional charges or interest added.

 

Txt Loan -

 

£218 owed and now in an affordable repayment plan. A little extra interest added to arrange plan.

 

Quick Quid -

 

£983 owed, with only £12 dishonour charge added, and currently trying to negotiate a repayment plan. Last letter stated the account was due to be sold on later this month.

 

Wageday Advance -

 

£450 owed (down to £330) and now in an affordable repayment plan. Additional charge of £24 to set up repayment plan but no other interest or charges.

 

Well,

 

That's my lot!

 

Yeah, i've been a bit of my idiot to get into this kind of mess but i've done my best to get it sorted out.

 

Started a new job recently, on much better wages, so i'm hopeful of having 24/7 Money Box, Cheque Centre and One Month Loan cleared by the end of the month.

 

I looked forward to sharing my experiences with you all

 

Poguesy.

[asmilecostsnothing]

I'm not sure what your asking ? (if anything of course? lol!)

but really good on you for tackling this

[quackquack]

hi asmilecostsnothing hope ur well ...also message above please post on here what u require and well all do what we can to help but it looks like ur in total control already so well done just make sure u cancel ur bank card and tell ur bank it:???:s lost to gain a new one and ensure ur direct debits are cancelled to all of these otherwise they will most prob raid ur bank account xxx:|

[quackquack]

:violin:but cheques u have issued will prob be sent to ur bank so if u know the cheque number cancel em at ur bank asap

[asmilecostsnothing]

Hey quackquack I'm having a strong day mind you I really hope this demented happiness will get me through and hope your well too! the sun is out here in Essex so I'm smiling, hope it is where you are xx

 

I'm just thinking of the beach what with this sun and oh the payday loans companies and have this picture I wanna share for everyone dealing with these! hope it lets me post and don't know why but it had sprung to mind on seeing this thread!

 

Yes it can be done and hope we're all on our way!

 

Edited February 19, 2012 by asmilecostsnothing
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[quackquack]

love it cheers asmilecostnothing the suns shining here in lancashire too its lovely even lovelier that i dont have any pdl anymore and i can pop on here to help out ....have a brill day all of u and yes it can bexxxxxxxxxxxxxxxxxxxxxxxx:lol: done

[Guest Poguesy]

I'm not sure what your asking ? (if anything of course? lol!)

but really good on you for tackling this

 

I'm just here to try and help others if i can

 

I know these payday vultures can make some people fall to pieces!

 

Anyone who has experience dealing with Money Shop, advice would be appreciated.

 

Going through their complaints procedure at the moment and received a reply but they are refusing to budge on the additional charges

 

Currently awaiting reply from the company secretary.

[asmilecostsnothing]

Well weird how Payday Express have helped (somewhat) and Money Shop are playing daft beggers what with them being in quite close connection just seems sus (but you may also have solved something for me so thanks )

 

If you got a reply that is not the outcome you want - you do have a couple more avenue's if not already tried!

 

1) Take to the Financial Ombudsman

2) Try their Trade Union - which is the Consumer Finance Association

[Guest Poguesy]

Yeah,

 

They are the only ones that won't play ball at the moment and they're doing my head in!

[Guest Poguesy]

Also,

 

A couple of things i would appreciate advice on.

 

I have now defaulted with 24/7 money box. I informed them off this and told them i would be happy to pay additional interest for the loan to be extended to 29th Feb (pay day).

 

Unfortunately, i had an unexpected deposit into my old account i used with these payday companies. I was expecting this to go into my new one. They took £38 and have now added a default charge to the loan along with the extra interest. They basically left me with nothing and i "politely" told them this over the phone.

 

I am now only prepared to pay the original loan amount and interest, minus the £38 they took from my account.

 

Should i stick to this?

 

And does anyone know who Quick Quid passes their loan accounts onto?

 

Gettin tired of this lot.

[asmilecostsnothing]

Hey, don't give up tomorrow is a new day and keep remembering it will be so worth it in the end, tackling this face on

 

Quick Quid, I'm not sure they seem to have a few different DCA's it seems

 

247 Moneybox - their bank details can be found on this board (were recently posted only a couple of weeks ago) thanks to someone else so you can take control of payments

 

Having read the 'when payday loans go wrong book' (only wish I'd had a read months ago!) it would seem these guys are open to discussion if you persist on full & final settlement (could save yourself a whole load of hassle and money) ...especially given all the scrutiny all the PDL lenders will now potentially be faced with

 

See http://www.lovemoney.com/news/credit-cards-current-accounts-and-loans/loans/14701/oft-launches-review-into-payday-lending?source=1000452

Edited February 26, 2012 by asmilecostsnothing
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[AJ2012]

Poguesy,

 

How did you manage to get Payday Express to agree to a Payment Arrangement??

 

Also, can I ask, are you dealing with this debt without Debt Mangement etc?

 

Thanks...

 

AJ2012

[Guest Poguesy]

Hey,

 

I initially tried to come to an agreement over the phone (I know) and emails but kept getting fobbed off by them. One of them even had the cheek to say how would you expect us to make any money if we offered repayment plans.

 

Went through the complaints procedure a second time, as my original complaint had been ignored, and eventually got a call off some fella from a different department.

 

He apologised, agreed to my monthly repayments and removed the extra interest and charges.

 

It takes a while with them lot but you get there in the end.

 

Oh, and i'm dealing with this on my own.

 

It's been a stressful battle but you get there in the end!

[AJ2012]

What a cheek!!

 

Thanks for your help... I am currently paying £300 a month on a Debt Management plan... I am wondering if it is better to tackle these people on my own!

 

Have you received many calls etc from then??

 

Thanks again

 

AJ2012

[Guest Poguesy]

I did think about a debt management plan but decided against it in the end.

 

Since we agreed to the repayment plan i don't receive any calls from them, unless a payment due has failed.

 

Just managed to come to an agreement with One Month Loan and Quick Quid for their oustanding balances.

 

Still fighting with 24/7 Money Box, as i'm refusing to pay extra charges and interest!

[Welshgal2012]

Hey Poguesy

 

How did you manage to set up a payment plan with txt loan? They are refusing to do so with me, after just a week over-due on payment they are threatening me with doorstep collectors and ccj :/

 

Thanx in advance!!

[Guest Poguesy]

Hey,

 

How much do you owe them in terms of original loan and 15-day interest?

 

I discussed a repayment plan with them through live chat and didn't have too much fuss with them.

 

They will, however, say the the minimum they can accept is £50 per month and they will expect you to pay additional charges and interest.

 

At the moment i have agreed a £25 per month repayment to clear an oustanding balance of £218

 

Original loan was for £100+£17 and i'm currently in the process of arguing against this.

 

Keep fighting and don't take any of their crap!

[Guest Poguesy]

24/7 Money Box have agreed to waive the additional charges and interest after taking that money.

 

Will now only be paying them the original loan and interest amount, minus the £38.25 they have already got for themselves.

 

Look forward to getting rid of this one on Wednesday

 

Also, does have anyone have a success story to share about getting Txtloan to drop their extra charges and interest?

 

I'm happy with the monthly repayment amount but struggling to get them to waive the extra fees.

Edited February 27, 2012 by Poguesy

[Guest Poguesy]

So,

 

I've decided i'm gonna use this thread as a kinda mini-journal on my progress.

 

Today, i managed to get Cheque Centre paid off in full and have blocked any future attempts from me to get money from them

 

Discussions with Txtloan have got somewhere at last and they are prepared to accept a payment of £117 to settle the loan. Going through my budget for this month, so i'm hopeful i can do it and save the £101 i would have to pay on the repayment plan.

 

I can't wait for the day i type on here that i am payday free!

[Guest Poguesy]

Quick Question:

 

I have a new repayment plan setup with Payday UK and to date i've made a few payments to them.

 

However, my verbal and written requests for confirmation of the repayment plan and oustanding balance continue to be ignored.

 

Should i keep pushing them for this?

 

Just worried they might one day say i owe more etc.

[AJ2012]

I would keep pushing them...

 

Good luck with everything!

 

Can't wait until the day I'm debt free

[elhs]

Hi Poguesy

 

Am feeling a teensy bit better after reading how well you are doing with getting repayment plans set up. I have managed to set up repayment plans with most of my creditors.

 

I currently owe almost £8000 in payday loans (am disgusted with myself I am in this situation).

 

Payday Express have completly refused my repayment plan - have been trying for 2 months now by email and phone, how did you do this? Minicredit are also refusing my repayment plan - which I have seen from some other posts is what they do with everyone so will keep on with that one.

 

I have a repayment plan with PayDay UK and am surprised they will not give you confirmation as they confirmed mine by email straight away and only get in contact if a payment is missed.

 

I too am having trouble with 247 moneybox - they send me letters and texts constantly but will not accept a repayment plan from me no matter how hard I try.

 

I have had some advice on another post I posted earlier to do with capital finance one who have cleared my account today leaving me unable to get to work, pay my rent or eat this month. Feel very stupid to be in this situation but am very scared as to how far these companies may go to get their money. I have not plucked up the courage to tell anyone about my crippling debt yet, but I live with my parents and am terrified someone will turn up at the door. They are already confused as to why I never have any money and have missed a rent payment to them already. I feel awful lying but don't know what else to do!

 

Reading your posts has helped it seems you have things a bit more under control - any help you can give me would be great. And of course any help I can offer - have had some success with repayment plans!

[Guest Poguesy]

Hey Elhs

 

Who have you been contacting at Payday Express to try and sort out a repayment plan?

 

If you haven't done so get a written complaint sent to [email protected] and be as firm as you can with them. I was constantly getting fobbed off by their collections department but a little email to that address with a few threats of my own got the job sorted!

 

I've read some of the posts about Minicredit on here so i seriously wish you look with that lot.

 

Yeah, i'm getting sick of constantly asking them for one to be sent. Probably have to make a complaint to get one sent.

 

Have you got yourself a new bank account?

 

Some say get a new account with your bank but i would leave them completely to be on the safe side.

 

I have had some advice on another post I posted earlier to do with capital finance one who have cleared my account today leaving me unable to get to work, pay my rent or eat this month. Feel very stupid to be in this situation but am very scared as to how far these companies may go to get their money. I have not plucked up the courage to tell anyone about my crippling debt yet, but I live with my parents and am terrified someone will turn up at the door. They are already confused as to why I never have any money and have missed a rent payment to them already. I feel awful lying but don't know what else to do!

 

I was like this at one point so i know how draining it can be mentally and emotionally. At least you're now making steps to get it sorted and think of the day when you'll be payday-free

 

Any time you need help feel free to drop me a line on this thread or through PM.

 

Poguesy

[troughmonster]

Hi

I had real trouble with Capital Finance One, so I raised a formal complaint with the BCCA (British cheque cashers association) who got involved, and pretty quickly CFO agreed to a repayment plan

[Guest Poguesy]

Chaps,

 

Txtloan have agreed to accept a payment of £117 at the end of the month to settle the debt, so no extra charges or interest.

 

Another one sorted and soon to be rid of!