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3 Pay day loans due next friday, please help. :(


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To cut a long story short, I was inbetween jobs and had a 2 month gap without pay due to the way the previous employer and the new employer pays wages.

 

I took out a wonga loan initially, but when I got paid it turned into the vicious cycle that you all know about.

 

I have loans with the following companies:

 

Wonga: £600 on promise date

Payday UK: £130? (I deferred this and now it says I owe £30.43 on my pay date)

Cash Genie: £260

 

I need to figure out a way to pay them back. I have started by getting my wages paid into a new bank account. What I need to do now is set out a payment plan with all 3 companies.

 

I am relying on overtime so it can be hard to figure out how much I will get in next months pay, but my initial costs each month are:

 

Rent £350

Living expenses: £60

Family loan: £50

Other: £40

Total = £500

 

I usually earn around £700, so that leaves £200 a month for PDL repayments, but id like to leave a variance of £100 just incase I can not get overtime. I was thinking of paying the payday uk loan off in full and then paying Wonga and Cash genie £50 PCM until clear.But I need a way to pay payday UK as my bank account is now closed and my new one doesnt have a debit card..

 

I think my plan is good, but I have no idea how to contact them.. do i wait until next friday or call up asap?

Edited by screwpaydayloans
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First of all,I do not think that evaluating your monthly income with overtime in the equation is a good idea.It might not be available when you need it.Just consider overtime as a bonus,to pay for little extras,or to make extra payments towards your loans.

Payday UK or Cash Genie I have had no experience with them.Wonga seem quite easy to get on with and will set up a repayment plan with you,but you have to default with them first.Then you have to phone them up before 5pm on the day of the default,otherwise you will incur extra charges.They will send you an email to confirm your dates for repayment etc.But YOU MUST get that email,as it will save you any problems at a later date.I spent a good 5 minutes on the phone last Sunday to them,trying to convince them that I had 8 more payments to make,not 7 as their latest email showed.What they had done,was changed the repayment plan from every 28 days,to once every calender month.So,1 month when I should have made 2 payments,they were saying only 1 payment for that month.They will also freeze interest.

I am sure that someone will give you some guidance regarding PDUK or CG.

Regarding PDUK,their contact details can be found on their site.

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

 

Regards,John.

Edited by JOHNINYORK
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Hello there.

 

Your living expenses are way, way too low. If you live alone the VERY bear minimum for one adult is circa £100, and in reality you should really set aside at around double that.

 

As already mentioned be careful when listing overtime if it isn't guaranteed.

 

My Money Steps is a useful tool, take a look: https://www.mymoneysteps.org/

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My living expenses may seem low to anyone else, but that is high for me, if i must say so. My usual spend for a weekly shop is about £10 per week. I live very frugally even when I have plenty of cash. It is just the way I am.

 

Without overtime I earn around £400. I have already got a weeks worth of overtime sorted for next week (when I move onto the next pay cheque.) Where I work, the management is terrible, So I know that there is almost always overtime.

 

I have just spoke on the phone to Pay day UK and they sent me a text with their bank details to use, but wouldnt send me an email. Should I call again saying that I would like something in writing?

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Have just spoken to cash genie and they are going to send me an email to confirm, although the guy that spoke on the phone sounded about 18 years old and as if he had a massive hang over.. so I will call back if anything seems fishy in the email.

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Glad to hear that you are in the process of sorting things out,I think that this is one of the big hurdles.Some people bury their heads in the sand and hope that problems will sort themselves out.

I did put a live web link for PDUK,it seems to have changed to a load of kisses.As you have now contacted them,there is no problem regarding the link.

Just one to go now,Wonga.

 

Regards,John.

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Do Not call them unless you can record the call in full.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Do you work full time? I only ask as you say if you don't do overtime your earnings are £400

Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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sorted out a repayment plan for cash genie instead as it would be unaffordable for me to pay it off in one go. waiting for an email confirmation, if i dont receive it i will call them again.

 

Don't call them unless you are recording the calls. Only email or letter. The pdls love to say that they record the calls themselves but that's rarely the case.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Probably an I&e form.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Hope you are reporting them. Also NEVER phone them unless you record the call in full.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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The aftermath here.

 

Wonga have agreeed to a payment plan with me, but its on a day before my pay date! I need to try and get it changed some how. Ive paid PDUK and Cashgenie but PDUK says they havent received the money yet, not sure about cash genie..

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mil them and tell thwm to change it. Repayments are controlled by you. Not them.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Changed the dates now, all fall on my pay day. Spoke to them on the phone and got them to send the email while i was on the phone (I know people say dont call them, but its my preferred method and I always make sure they email me while I am on the phone.)

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You should always tell a pdl your payday is around 3 days after the actual payday. You should also never speak to them on the phone.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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