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Hey everyone,


Ok so long time reader first time poster. I've seen a lot of really good advice on here so thought I'd outline my circumstances and see if I could get any advice relevant to my problem.


Basically, long story short, I was made redundant but luckily found a job immediately after ... Unfortunately my wages dropped from £1200 (basic) per month to £800 per month. I have 3 payday loans, as follows:


£525 due on 28th to Payday Express (Moneyshop)

£387 due on 28th to Quid.co.uk

£197 due on 30th to Wageday Advance


I feel the Wageday advance is under control as I borrow £150 back, I can budget for £47 per month but the other two are seemingly out of reach. I have paid Payday religiously for over a year now. Borrowing £400 paying £525 back then borrowing £400 again. The quid account is quite recent and I can pay interest only at £117 but it is getting out of hand and with rent, gas, elec, council tax, shopping, travel etc I'm not sure what to do. I've set up a new bank account and will get my wages paid in to it as I owe over £1500 to Halifax which is accruing interest daily which I need to get a grip on.


So, do I e-mail the companies advise I'm unable to pay and attempt to set a payment plan or say I've been made redundant (as they have my old emp details)?? Any help would be much appreciated as it is closing in on pay day!



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i was in a simalar position to you paying it back and then having to borrow again .

1. open a poarachute account for your wages to go in

2. get the letter from the libary to send to your bank revoking the contious payment authority and take it to them . you will have trouble with banks over this .

3. work out a i & E and work out what you can pay them after all your priority debts then i would work out a pro rota rate to pay them


But the most impoortent thing ios to sucure your wages because as soon as you tell then you are having trouble they will attempt to raid your account . Other people will be along to give more help but this should get you started.


One other thing i forgot is ther e afamily membe or a friend that you could borrow the money of to pay these parasites off and pay them back instead

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