Payday loan trap again

[scotslad26]

Hi all i am currently in abit of trouble with payday loan company's all i seem to do is extend my loans its never ending.

 

my loans are:

 

wonga - 1000 on a repayment plan (100 month)

payday express - 500 (100 ext)

payday uk - 180 (40 ext)

pounds to pocket - 150 30 a month

lending stream - 2 loans total 250 25 a week

peachy loans - 260 ( 60 ext)

 

wonga were fine setting up a plan

 

ive heard payday express are a pain?

 

If i can get payday uk to set up a plan for just say 40 a month that would be fine

 

pounds to pocket i can live with

 

lending stream is the one that is hurting me but if i get the rest to accept plans i can try pay them of alot quicker.

 

peachy not really heard much about them on this site do you think they could set up a plan?

 

any help please?

[PDLVictim]

Hi scotslad26,

 

Peachy (CashOnGo) will set up a repayment plan of up to 12 months. They might add interest to it, but not to the high amount they charge for extensions. Their email-address is [email protected]

 

Only pay by standing order to

Cash On Go

Sort code 20-03-53

Account number 43882942

[scotslad26]

Hi scotslad26,

 

Peachy (CashOnGo) will set up a repayment plan of up to 12 months. They might add interest to it, but not to the high amount they charge for extensions. Their email-address is [email protected]

 

Only pay by standing order to

Cash On Go

Sort code 20-03-53

Account number 43882942

 

 

 

hi thanks are they easy to deal with before i default? what about payday uk

[benno79]

I found paydayuk very easy. I just sent them an email before I defaullted. They asked for a basic i/e form which I supplied. They then agreed to a repayment plan.

 

Lending stream so far are being a real pain and I'm just going round in circles, they are also the only company to add excessive interest/charges while I am in negotiation.

 

Ben

[scotslad26]

hey thanks for the reply i have been doing my research on lending stream and its not looking good for setting up a plan i will just need to get the rest sorted then pay them off.

[benno79]

The problem them I have with them is that they are demanding a pay slip which I am not prepared to give them. I have been honest in my i/e form for them, I think they are just drawing to draw it out so the debt spirals. They then hope I will panic and agree to their demands. It does get tiresome but I'm happy to fight them for as long as it takes.

I am paying one of mine off in full this month, maybe LS will be next month. I don't know the more difficult they become the less I am inclined to give them more than a token payment each month.

 

Don't buckle, stand firm and keep everything in writing.

 

Ben

[floricita]

I found paydayuk very easy. I just sent them an email before I defaullted. They asked for a basic i/e form which I supplied. They then agreed to a repayment plan.

 

Lending stream so far are being a real pain and I'm just going round in circles, they are also the only company to add excessive interest/charges while I am in negotiation.

 

Ben

 

Hi, which email did you use?I sent them a mail yesterday and heard nothing back from them

[scotslad26]

the problem i have is i keep extending my loans there is no end in sight if they would freeze the interest i would be able to pay most of them off in 4 months.

 

Why would they need a payslip it doesnt show what you pay outeach month it doesnt make sense to me.

[floricita]

Well i,m not a legal buff, but I was reading on another forum that once the contract has ended they cannot add interest and can only add charges that reflect actual costs incurred. They will try to do it of course, but I think if it went to court they couldn't actually do it except for the statutory 8%

[benno79]

Hi,

 

I sent an email to these two addresses [email protected] o.uk, [email protected] o.uk for paydayuk

 

I think they want the payslip to prove my salary is what I have told them, I have been completely honest though in case it should ever go to court.

 

They can't add excessive interest/charges, it is a scaring tactic in the hope that you will buckle.

 

cheers

 

Ben

[PDLVictim]

Hi all,

 

@ scotslad26: Peachy is easy to deal with, was one of the quickest I could set up a plan with

 

@ benno79: I managed to set up a plan with lending stream. They charge interest, but as soon as the plan is set up they freeze all interest and charges. My plan was for 12 months.

 

@ scotslad26/benno79: The companies asks for a copy of the pay slip to verify that you have declared in the I/E form the correct amount of income. The pay slip only contains information they already usually have (employer, address, NI number, income, etc.) so I personally do not see an issue to provide it to them (But I know that others on these forums see it differently)

 

@ floricita: The email address @paydaycontact.co.uk you have used is for KeyWhitlock (the DCA of PaydayUK) and currently not working as far as I am aware (you should get an error message in a few days). Try using [email protected] for PaydayUK. The issue with the interest rate and the end of contract I see differently, as most of the new contracts are open ended and list the fees/charges. I am also interested to know what the outcome of recent court cases are, but I find very little information of these in the forums as most threads either fade away or end in pre-court mediation with full and final settlement offers. I read in your other posts that you are currently dealing with Toothfairy, so in case you go to court let me please know the outcome...

[renegadeimp]

Step 1. STOP EXTENDING THE LOANS. It is wasted money. It's the exact same thing as paying a schoolyard bully or loan shark a few quid to keep them off y our back for a few weeks. In the real world, some call it "protection money".

 

Step 2. Work out your REAL Incomings and outgoings, find out what you can realistically afford to pay your creditors, then write up a short budget summary and send it to them. Never back down from your offer of repayment. They will try every trick they know of in order to get more money from you, and even say that if you dont accept their terms, then they will take you to court. This is a complete lie, and even if they took you to court, a judge would side with you.

 

Step 3. Keep everything in writing and never get into a conversation with them on the phone. Post their replies in this thread so we can help you further.

[scotslad26]

thanks for the help guys. i have sent an email to payday uk without reply so al wait and keep you updated. i still have a while left on the other loans so i mite wait a week.

 

I dont mind speaking to them on the phone as long as i get it in writing eventually.

 

I dont want them calling my work though.

[renegadeimp]

Dont use the phone. They very rqrely confirm it in writing. They want you to call so they can bully and intomidate you into various agreements..

[Jamie Kingston]

i dont agree, pduk are probably one of the easiest to deal with, you can get anything you want in writing after the conversation before you pay the, so... if you dont want them calling your work realistically the best thing to do is answer your mobile to them so they dont have an excuse to call at work

[renegadeimp]

Doesnt matter if you agree or not. THe past history of the pdl speaks volumes. Simply because 1 or 2 people have good dealings with them dosnt mean the other few thousand of debtors did.

 

Its also very strange that you actively encourage people to call pdls despite their history.

[Dadsmada]

In my case I contacted pduk by phone 1 day before my payment was due - they were very helpful froze all charges and interest and gave my a six month plan - all confirmed by email prior to setting up a s/o

[Jamie Kingston]

strange - why? I learnt from my mistakes. Ask all the people I have helped, ask pdl victim, dadsmada (post above) still strange... i think not. Just good advice.

[floricita]

I think everyone has different experiences and some people are better than others on the phone. Whatever works best for you, you should do, but for anything to hold up in court it would need to be recorded on the phone or put in writing.

[floricita]

If I send them the p45 letter, they will then know that I took out the loan whilst actually being unemployed.Christ i,m in trouble

[renegadeimp]

Dont send them the P45. They have no need or even a right to see it. Simply tell them you are unemployed and on benefits and you are willing to pay back £1 a week/month to be reviewed every 3 months. If they dont like it, then they can take you to court and a judge will grant the same repayment plan.

 

As for worrying about taking out a loan whilst unemployed, it is mainly their fault as they didnt perform the proper checks as a responsible lender.

[scotslad26]

i got an email saying i have to phone them up to set up a plan. i will see what happens

[renegadeimp]

Ignore it. They want to bully and intimidate you into agreeing a high rate of repayment. Only phone them if you can record the call. Remember, there is no requirement that you tell them you are recording either, but if you do record it, you must remain calm, civil and polite at all times.

[PDLVictim]

Hi,

 

I agree with floricita that it depends on the sort of person you are whether phone or email is best.

 

@renegedaimp: If scotslad26 states in his post that he doesn't "mind speaking to them", then I agree with Jamie that the best advice is actually to call PaydayUK.

 

Reading through some of the other posts here I think we have to avoid giving categorical advice in just one direction. Instead we should look at the individual cases giving specific advice. Otherwise people might follow second best advice for their situation and end up in worse situations which would have been avoidable by being more cooperative with the PDL in the first place. I understand that some people here might be extremely angry with PDL in general, due to their own experience (this includes me ), but we should not allow our emotions to obscure our reasoning. Some PDL are much more easier to deal with than others, and some debitors here have more possibilites (e.g. available money) than others, so why would we advice in those cases to play hard ball with the PDL from the beginning is not clear to me

[renegadeimp]

Its up to the person if they want to call them. But they come here for advice. And CAG 's advice is to only speak to them on the phone if you can record the call. The amount of complaints about creditors abusing and harassing debtors over the phone, outweigh the good experiences by a very huge margin.

 

People come here for advice and help, and we aim to give the advice that suits their needs AND keeps them safe. Uneducated debtors calling a creditor with no recording happening, can easily lead to harassment or the debtor being bullied into an agreement that cannot be kept up with.