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Agree to pay interest when entering into a DMP?


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Hi all,

 

Just a quick question as I want to finally sort my finances. I'm looking to go with eithers cccs or payplan (possibly do it myself but I'll ask that in another subforum) and as such I had a look at my experian credit report today. I'm sure there are a few things missing from there (guess I'll have to do statutory with equifax and callcredit soon) but one thing I noticed with all my payday lenders but Early Payday in particular was that the initialloan was for under £200 I defaulted at £460 and now the balance reads £1250ish. I know I should have contacted them sooner but this does seem pretty high!

 

So should I accept that? or is it worth challenging?

 

Also, quick question last year I did an experian statutory report and saw Wonga on there for about 1900 (I kept a copy so I'm sure of this) I've done a report today and there's no sign of Wonga or even a similar amount? Are they reporting to a different agency or something now? Should I contact them to get my account details or how can I find the information?

 

Many thanks

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Of course you should challenge it. Theres no way they can justify a sub £200 original loan to spiral to 1250

 

In regards to wonga, let them contact you.

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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That's good to hear. I've read something about the capital + a months interest but is it just a case of trying to negotiate?

 

Thanks btw

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Yes. Negotiation is the better course of action. You also MUST get a full breakdown of the entire amount they claim you owe before you even consider paying anything to them. Especially if its escalated to that amount. I wouldnt be surprised if they were quick to agree to the DMP, as they think you wont challenge the amount, and you will pay it.

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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