Help

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Help

Like some sort of idiot I applied for 5 payday loans while only getting ESA. I can not remember what I put for occupation but I think it was either ESA with the job centre number or self employed.

Now they are all chasing me, I have sent them a letter saying that I have mental incapacity(that is why I am on ESA) and that I can not pay. I have suggested they write it off or take me to court.

Well I am still being hassled so I sent each one an email saying until they addressed the points in my original letter I would not reply.

It hasn't worked what should I do?

[renegadeimp]

Send them another letter, telling them you are on benefits, and they will only be getting £1 a month for the foreseeable future. If they try taking you to court, the judge will side with you, and could lessen or even wipe the debt should there be no realistic probability of the loan being repaid.

 

 

Also, post which PDL's you owe money to and how much you owe to each. ALso post the amount that each PDL claims you owe.

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Wonga 232 owe 282 as of 20/8

Minicredit 200 owe over 800

Countrywide 135 owe 216 as of 31/7

Txtloan 100 owe 272 as of 13/8

247 moneybox 120 owe 223 as of 20/8

 

these are the amounts borrowed and the last email i had from each with an amount

 

They know I am on ESA but i really can not afford to pay anything at the moment

[renegadeimp]

Ok. Minicredit you dont owe what they say. They are very well known for adding on bogus charges and interest amounts. The same goes for txtloan and the others. The only one that looks like a realistic amount is wonga, though they might have some funny charges on it.

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So now I need to persuade them that I have no money and can not pay them back. I didn't do this deliberately to get money for nothing, I was in the middle of a very very stressful time and wasn't thinking straight. There is no doubt that at the time I was not myself

[renegadeimp]

You dont need to persuade them. Send them a basic budget summary and sign it as a declaration of fact. Tell them that you are willing to pay the amount you actually owe and provide them with a repayment plan that you can realistically stick to. Even if it means £1 a month.

 

Should they add on further charges/interest, they would be breaking OFT guidance, and should they choose to take it to court, a judge would look down on them as you clearly cant afford their repayment offer, and the debt could be lowered, your repayment plan agreed to in court, or it could even be wiped in rare circumstances.