need help with to many payday loans and bills

[gokartin]

hi, i currently owe wonga £1162.81 wageday advance £249.86 mr lender £440.00 payday uk £350.00 ive got an outstanding gas & electric bill thats £300.00 already had notice of disconection. also have an outstanding water bill thats £150.00 the interest and other charges on the payday loans are killing me. I earn £1000.00 every four weeks. out of which i have all the normal living expensess. rent, insurance, petrol for work and food. I understand that i can get the interest and charges stopped and set up a repayment plan that i can afford. The most important thing is that the utilities get paid first, then i can address the pdl companies. what should i do next?? how do i get the interest stopped and a payment plan agreed. please please please help and point me in the right direction. not slept well in weeks.

[renegadeimp]

For now, forget the pdl's exist and pay your high priority bills, such as electric etc. Send each pdl s written notice and tell them you will be missing a payment as higher priority debts need to take precedence.

 

Report your debit card as stolen, cancel all cpa's on your account and cancel any direct debits related to the lenders.

 

Just remember, you need to write to them in typed format and send it by recorded delivery or email or it could come back to bite you.

[gokartin]

thanks for replying. sending emails to all pdl's. covering my extreme finanial situation. will ask for all interest and other charges to be stopped and ask for a payment plan to be set up that i can afford to repay without causing further distress and sleepless nights. just hope they will understand and help, without charging me more and more.

[renegadeimp]

Some will tell you no and keep piling on charges but ignore them. Keep sending emails/letters until they give in.

 

If they try to take you to court, just tell the judge what you've said here. You're more than willing to pay, you just need more time as you have other, much ore higher priority bills to pay.

[gokartin]

hi, thanks for replying to my post. have recieved emails back from all except wonga, saying they will accept a payment plan if i fill in an income and expenditure form and support it with last months bank statement. I cannot see how i can supply them with a correct income and expenditure as this will be ever changing on a monthly basis. also a bank statememnt won't show all of my expensess. I've also read on here that its against data protection for them to ask for my bank statement. I agree with you that the utilities must be paid first. Then i can get these loans paid off as quick as poss. What would you advise regarding my income and the bank staement.

[renegadeimp]

Do not supply ANY of that. They have zero right to any of that info.

 

As sillygirl1 said in another thread, they are only entitled to the following info:

 

Total income per month: xxx

Total outgoings for rent, gas, utlities per month : xxx

Total amount for creditors: xxx

Wongas share: xxx

 

If they dont accept it, then only pay them a token amount of £1 a month to show willingness to pay until they either accept or otherwise.

 

Thats ALL they are entitled to. If they want more info, then they need a court order to get it, and even then, only a judge will be able to see that info. Not wongas representatives.

 

Wonga are trying to play you, hoping that you do not know your legal rights and do what they say.

 

Also, don't have the attitude of trying to pay them off fast. Have the attitude of paying what you can without leaving yourself worse off. Even, like i said before, if it means you only pay them £1 a month.

If they try to add on unfair charges/interest, then thats easily gotten around by reminding them of OFT Guidance for the Unfair Terms in Consumer Contracts Regulations 1999, Group 5: Financial penalties – paragraph 1(e) of Schedule 2, point 5.2 and 5.4

Edited April 15, 2012 by renegadeimp

[gokartin]

thanks again. going to offer each of them a token payment to show i want to pay whilst the utilitys are being paid. will tell each one of them how much the minimum i will pay to them will be, and that this will increse once the more important bills are paid. will keep you posted on the outcome. thanks for your advise. gokartin.

[renegadeimp]

What you have to remember is you TELL them what you can afford.If they don't accept, then its their problem. Just send out regular reminders and pay the £1 a month/week till they accept. Should it ever go to court, a judge would just laugh at them.

 

Also, dont state the minimum. TELL them exactly how much you will pay. If you have £100 a month for debts, and 5 creditors, then each one gets £20. No negotiations. If you only have £50, then they get £10. If they dont like it, tough luck to them.

 

If you give them ANY leverage on how much you pay, they will exploit it. Thats why you need to deal in absolutes and not play negotiation tactics with them.

[gokartin]

got a quick one regarding mr lender. the rollover / defalt fee is £90.00. they are saying that they cannot stop the interest and charges until i have paid the full £90.00 default fee. although i sent them an email saying i couldn't pay, they told me that i would incure fees at a daily rate until i pay them the £90.00. can they do this or are they trying there luck???

[renegadeimp]

Those charges are classed as unfair and extortionate. Get a complaint into the OFT. Using the form in the sticky thread.

 

It's also borderline blackmail.

Edited April 15, 2012 by renegadeimp