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Jemima83

PayDay Loan Help Please

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Hi this is my first post. I stumbled across this site the other night as I couldn't sleep, worrying about payday loans! I'm relieved I am not alone! I have at least 5 payday loans, like a few other people I took them out to repay other loans and then got into overdraft problems with my bank account. I have 1 pay day loan in particular from wage day advance. They now have sent it to a dca who are now threatening to send an agent to my home. I am a single parent and the thought of these people visiting my home scared the crap out of me.

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Hi jemima.

Which dca is it?

They're good at sending threatograms...

You probably won't believe it, but you're in a much better position now the debt has been passed to a dca! Pdl company's are notoriously difficult to deal with and few will agree to a repayment plan easily.

 

When I was in my own pdl battle I welcomed the DCAs! They were a lot easier to deal with and I was more successful in securing affordable realistic repayment plans!

 

Send the dca a letter advising them that they are welcome to attend your home ONLY by appointment, since you won't be making such an appointment then you won't expect any home visits! Tell them that you're happy to continue arranging a suitable repayment plan by letter only.

 

A lot of DCAs will try to intimidate you into making a full payment. Stay off the phone to them, they are commission based phone drones.

 

Let us know who the dca is and we can advise further.

 

Regards

 

BM


It never rains but it pours...

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New thread created for you Jemima :-)


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Hi jemima.

Which dca is it?

They're good at sending threatograms...

You probably won't believe it, but you're in a much better position now the debt has been passed to a dca! Pdl company's are notoriously difficult to deal with and few will agree to a repayment plan easily.

 

When I was in my own pdl battle I welcomed the DCAs! They were a lot easier to deal with and I was more successful in securing affordable realistic repayment plans!

 

Send the dca a letter advising them that they are welcome to attend your home ONLY by appointment, since you won't be making such an appointment then you won't expect any home visits! Tell them that you're happy to continue arranging a suitable repayment plan by letter only.

 

A lot of DCAs will try to intimidate you into making a full payment. Stay off the phone to them, they are commission based phone drones.

 

Let us know who the dca is and we can advise further.

 

Regards

 

BM

 

Thank you for your reply. The dca is called motormile finance. In the past few weeks they have sent letters, sent me numerous emails and left 3 voice mails. Each time saying to get in touch to arrange a home visit. I'm hoping my hours increase after Xmas so I can set up a payment plan and be rid of these people!

 

Regards

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Hi!

 

Ahh! Motormile... I've had dealings with them.

 

Ok.

 

You need to establish some form of contact with them. I emailed them with success.

 

I don't want to panic you. They did turn up at my house unannounced. I buried my head in the sand and didn't answer any of their calls or respond to letters emails hoping it would go away. (this was all before I found CAG)

 

If you are genuinely in extreme financial difficulty, maybe make contact via email or letter and advise this. See If you can make a very small token payment until your financial situation improves.

 

In my own experience with these guys. They were happy to accept a repayment plan. They responded positively to my letter requesting NO MORE home visits and they complied with my request to remove all phone numbers from my file. When my financial situation improved this particular company offered a generous full and final settlement offer. I actually ended up paying less back than I originally borrowed from the pdl lender.

 

Wish all of them were like this...

 

So. To conclude. Make some contact. Email them and advise them that you do want to work with them to pay this debt back. This is a low priority debt and until you're in a better position advise them that you can only make token payments. I feel that this route is better than no route...

 

Is the current value of the debt roughly what it should be? Or has it been inflated with ridiculous charges before being passed to the dca?

 

Please, don't let it worry you too much. I know, easier said than done. I'm a very anxious person and I got through 5 payday loan repayment plans (in the end!!) without much stress!

 

Keep us updated, if you need any further help or advise, please feel free to ask here.

 

Bm


It never rains but it pours...

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