Please help I'm in serious trouble

[floricita]

Hi, firstly I would like to say that no one hates me more than myself for what I have done I'm truly ashamed and hope that I have finally learned my lesson.

I'm a recovering gambling addict and have been receiving weekly treatment from gam care. I didn't gamble for 1 year. Then I was made redundant which was quite depressing and received a decent payout. For some crazy reason I went back to my old ways of dealing with depression and started to gamble again. Before I knew it I was in my old compulsive mode again and blew the lot. In a moment of madness I applied for 3 payday loans to try and win back the money. Of course this didn't happen and thankfully before I blewnthe lot I had a moment of clarity and stopped not before I broke my laptop in anger over what I had done

 

I have my regular debts on credit cards which I can just about pay even though I'm now unemployed and the ones I have spoken to seem sympathetic about being out of work and seemed to be open to some sort of 3 month plan.

 

I owe my girlfriend some money which I want to pay back to her which she lent me a while ago. When I find employment again I feel comfortable that I can pay her back.

 

The ones where I cannot see any light at the end of the tunnel are the payday loans. Including interest I owe quickquid 1300 payday express 700 and paydayuk 645. Now I only have cash to live off for 1 month which by then I hope to be in employment even if it means doing any job. But there is no possibility of being able to pay these back in 3 weeks time! Even if I extend and get a job I couldn't afford to pay it back not for at least 6 months I estimate.

 

This is obviously irresponsible on my part but also I do feel that they share some of the blame too as they lent to me even though I'm not in employment only one asked me if I was in employment, I do feel feel this does breach the rules of the ccd which forms part of the cca about responsible lending. Whether that matters or not I don't know.

 

My darkest hours have passed now, I did think for a moment that my only way out of this mess was to end it I'm ashamed to admit. But I have decided to stand up and try and deal with this matter as best as I can. I don't know how I can do it or if I can do it that is why I'm asking for help.

 

I live with my dad and we recently lost our mum so it's quite imperative that he doesn't find out too otherwise I think he could go over the edge and it will be my fault. He has helped me out in the past when first confronted this problem and we thought it was finished I think if he found out it might finish him.

 

Please hekp

[Welshy27]

Your post could have been written by myself. I'm also picking myself up from a gambling addiction which lasted the whole of last year and resulted in me also taking out three payday loans to fund my addiction. I continued to borrow more to pay off each one etc and of course the downward spiral continued. I had to come clean to my parents about it at the start of the year since I could no longer pay one of them back and I was panicking. Again like you I went for support at Gam care but didn't find it helpful for my needs. My parents insisted I install blocking software on my computer which has helped me greatly in beating my addiction - I suggest you look into this as a way of combating it (assuming it's an online gambling addiction you have).

 

I didn't tell my parents the whole extent of my payday loan crisis and it was only around March when I came across this site and started to realize the options available. Most importantly, I learnt that pay day loan companies have very little authority and as long as you show willingness to pay back your loans then they have to show willingness to co-operate (easier said than done). The best thing you can do now is to default on all of your three loans - do not roll them over or pay off and then re-apply etc. I've not had any dealings with the ones you mentioned but again try and work out how much you can afford to pay each one monthly. If you're unemployed you can offer £1 per month and they would have to accept (they are classed as low priority debts). Keep all communication in writing.

 

Have a good read of these forums because they helped me tremendously with my own similar situation and to now give such advice to others. I have arranged two long term repayment plans and my third loan will be paid off on its schedule due date soon. I have a much better control of my finances because I have now kicked the gambling habit and have regained an appreciation of the value of the money I have. I started to gamble because of being severely ill and felt like I was no longer ever going to be able to enjoy spending my money so just saw it as pointless and gambled it away. Keep getting the support you need to tackle your habit and I'd be happy to help you further in any way.

 

All the best.

[Ell-enn]

If you do default on the loans and have not come to an agreement with them to pay back in small installments before the loans are due to be paid, you must ensure that there is no money in the bank account they have details for - or they will simply help themselves to whatever is there and leave you with nothing.

 

Who do you bank with?

[floricita]

If you do default on the loans and have not come to an agreement with them to pay back in small installments before the loans are due to be paid, you must ensure that there is no money in the bank account they have details for - or they will simply help themselves to whatever is there and leave you with nothing.

 

Who do you bank with?

Thanks. Yes I installed bet filter and it was really helpful. But when I got my compulsion again I found out an easy way to uninstall it. I guess a compulsive gambler if they want to will always find a way.

 

I bank with natwest

 

Should I write to the payday loan companies now?

 

I know it's all my fault but I wish they would have checked my employment status befoRe processing these loans

[floricita]

May I ask did the long term repayment plans you arranged with pdl? How did you go about this?

[Welshy27]

Did the filter require you to type in a password and if so did you do this? My Mum created the password on my blocker so I haven't got a clue what it is and it blocks all sorts of gambling related things (even innocent news stories etc). I've just sent you a private message and yes I would start to email the companies now to say you are anticipating financial difficulty and may wish to proceed in defaulting and setting up a repayment plan.

[floricita]

Hi, my one just blocked everything if you tried to get onto a site. I won't say how I did it because I don't want you to do it

[Welshy27]

May I ask did the long term repayment plans you arranged with pdl? How did you go about this?

 

The first one I set up was with Wonga which was all very straight forward and they were very understanding. I rang them after two days of defaulting and immediately set one up and it was instantly confirmed by email. I've rung up a few times since then to make amendments with payment amounts which also they have been happy to do - they seem one of the best to deal with.

 

The second one was with Mini Credit which in comparison are the worst of the bunch - they don't accept repayment plans full stop and have unethical practices of adding charges. I decided to request they pass it on to a DCA who this week have agreed to my initial offer of £20 per month - all can be done online and they don't require my debit card details.

[floricita]

So there might be light at the end of the tunnel? thing is they will ask what type of difficulties and presumably ask for proof which means that I will have to tell them about the gambling which they might not be sympathetic too and also disclose the fact that I was unemployed before I took out the loan

[Ell-enn]

Just send them an email stating you are unemployed and therefore unable to repay the loans in full. Offer what you can afford each month (even if it only a pound or two) and then ask for their bank details so you can make the payments. Does your JSA get paid into the bank that the PDLs have details for ?

[Welshy27]

I was not asked any of these things or required to provide any documentation of evidence or proof. For Mini Credit, I did have to fill out a basic Income and Expenditure form for them to pass it on to the DCA but I really don't think they take much notice of it. You sound like your taking your responsibility seriously of needing to address your loans and to pay them off as best as you can - as long as you demonstrate this when you write to them then they are obliged to co-operate. It is those that bury their heads in the sand that end up getting into the most difficulties. When are your due dates for these loans?

[floricita]

About 3 weeks for all of them. I m hoping to have secured emp,oyment by then or be close too as I have a good cv and work experience and I'm not going to be overly picky. Trying to read other threads on here for help. Some seem to say try and catch them out by cca (one of mine didn't even have me sign or write my name anywhere) others seem to say pay them back as best as you can. I feel more in the latter camp as it's my responsibility. But hopefully this will be over some day and I would like to tell my story to the oft and tell them that they lent to me without asking whether I was emp,oyed or not, because it may just help stop the next person fall into this trap if they carried out at least the basic tests of suitability

[floricita]

About 3 weeks for all of them. I m hoping to have secured emp,oyment by then or be close too as I have a good cv and work experience and I'm not going to be overly picky. Trying to read other threads on here for help. Some seem to say try and catch them out by cca (one of mine didn't even have me sign or write my name anywhere) others seem to say pay them back as best as you can. I feel more in the latter camp as it's my responsibility. But hopefully this will be over some day and I would like to tell my story to the oft and tell them that they lent to me without asking whether I was emp,oyed or not, because it may just help stop the next person fall into this trap if they carried out at least the basic tests of suitability

 

Right it's d day now for myself and would appreciate some help.

 

New bank account sorted but nit contacted previous account natwest. Should I say card stolen?

 

I,m still out of work although have managed to get an interview this week. I cannot afford until I secure work any significant payments. Only £5 month to each.

 

Can anyone help me with an email to send asking for frozen charges and interest and ad repayment plan proposal for this amount to be reviewed after 2-3 months? Am really starting to worry about this now.

 

Reading about the new pdl code of practise and was also wondering if this applies to loans before the agreement? As that allows for 2 months grace period.

 

Any help would be really great

[renegadeimp]

Just tell them youve lost the card. No need for anything else.

[floricita]

Thanks and what should I write to the pdl people?

[renegadeimp]

Oh, you dont want to know what i would write to them if i had the chance

[floricita]

Oh, you dont want to know what i would write to them if i had the chance

I,m sure

 

Anyone else know what to write?

[floricita]

Right this is what I sent the first one.You think its ok? Bit of a typo in the repetiveness I just seenWith reference to the above. My circumstances have had a dramatic down turn. In that I am now unemployed although I am actively seeking new positions.As a consequence of unemployment, I am unable to make the required Payments. I would appreciate if until such time as I regain employment, that you freeze my account of interest and charges and that you accept a without prejudice, token payment of £1/month until such time as to I regain employment- at which we can review the account and set up a formal repayment plan based on income and expenditure. Please note that the aforementioned is all I can afford until I regain employment.However, I am prepared to offer without prejudice the sum of £1. Per /month until such time I regain employment, at which the account can be put under review and a more formal repayment plan set up. I would stress that this offer is really the best that I can offer under the circumstances.As is my right I would request that all contact is via e-mail. I would also request that you cease recurring payments from my bank account as I don't have any funds and this will only cause me bank charges further delaying payments to yourself.I have met payments in the past and I hope that you can understand these circumstances.Yours faithfully

[renegadeimp]

Speak to your bank about cancelling or blocking recurring transactions. PDL's very rarely, if ever stop them themselves. They leave it as a "safety mechanism" so they can come back and debit the account, as and when they like.

[floricita]

Thanks.Not sure I used the right email for payday uk [email protected]

[renegadeimp]

Thats the email they give. So it should be ok.

[floricita]

Thanks. I should have done that.Well I sent it to all their emails and they ignored it and emailed the following + they have phoned me 3 times alreadyDear, Your repayment of £709.50 due to PaydayUK was not authorised and your loan has now been passed to our collections team. Please be aware that failure to repay your Payday Loan will result in your account falling into arrears and possible charges could be accrued and that if you do not repay your loan and fail to contact PaydayUK, this may be reported to the credit referencing agency, which could have a negative impact on your credit rating

[floricita]

Ok not sure what to do now.

 

No response from my email and 3 calls already.

 

Should I speak to them on the phone? Resend email?

 

Any help would be great.

 

Other two due next weds so going to email them tomorrow

[renegadeimp]

The only thing you need to do is contact OFCOM and the OFT if they are still ringing despite your legal instruction to them not to call.

[floricita]

Ok thanks.

And what about my repayment proposal?