Advice on a PDL company please

[siennasmummy]

Hi all,

 

I am typing this on behalf of my friend. She has never had a payday loan in her life and I have advised her not to as I have gotten into a mess with them myself. However, she needs some cash to pay off her holiday before she loses it. There is nobody to lend it to her and her parents are very against any kind of debt. She just needs 200 pounds.

She has asked me if there are any payday loan companies that do not send letters to your home as she does not want her parents to see them. Her mum has opened her mail a few times (yes I thought that was bad too!!). Anyway, she is going to have it, pay it off and never have one again I hope.

I can't remember who does and who doesn't send a welcome letter etc but I think Wonga and QQ do. Can anyone advise on this please as I can't think of anyone else who may be able to give her the info.

I have tried to get her to think of another way but she says it's this or she will lose all what she has already paid and her holiday. Anyone?? Thanks.

[Guest Payday Survivor]

I don't recall any of the eleven payday loan companies i dealt with sending out welcome letters in the post, only the garbage they send out after defaulting.

 

Has she not tried a local credit union or similar for a small loan?

 

After the mess i got into with payday loans i would rather lose the holiday than ever take out another one!

 

Jamie

Edited February 6, 2013 by Payday Survivor

[siennasmummy]

Thanks, yes I agree......but then I can't tell her what to do. I will mention about the credit union but I doubt she will bother with that. I just hope that if she does take one out, she just pays it off and never renews it. I would hate to think of her in the same mess as myself and many on here. When I took out a loan with Wonga and QQ I got a letter off both of them with my terms etc on but I can't remember if I had any others. Thanks anyway.

[Guest Payday Survivor]

Thanks, yes I agree......but then I can't tell her what to do. I will mention about the credit union but I doubt she will bother with that. I just hope that if she does take one out, she just pays it off and never renews it. I would hate to think of her in the same mess as myself and many on here. When I took out a loan with Wonga and QQ I got a letter off both of them with my terms etc on but I can't remember if I had any others. Thanks anyway.

 

The credit union only took 2-3 days to process my loan application. They gave me £250 and even when i had a number of payday loans, some oustanding, on my credit file.

 

I did default with them in the end but they were very helpful.

 

But it's up to her.

 

Jamie

[fletch70]

I guess this is for a deposit?

If she can't afford it now how will she be able to afford the balance or costs while there.

[fletch70]

Has she approached her bank for a short term overdraft

[siennasmummy]

Hi Fletch,

I have text her and apparently she changed banks recently and can not increase her overdraft at the moment as she is new. Also it isn't her deposit she has already paid over 600 pounds she just needs to pay the rest by Friday. Thanks.

[PDLVictim]

Hi siennasmummy,

 

This may sound tough but I would rather skip the holiday than take out a payday loan. Yes, she is losing 600 pounds deposit and yes, she is losing her holiday, but as time goes by there comes better times and future holidays. I took out a payday loan of 100 pounds more than three years ago and it cost me about 30000 pounds in the end. I ended up rolling over and reloaning with over 15 companies. I so wish I had not done this, so from that experience I can only advice to skip the holiday and not to borrow any money from PDL.

[renegadeimp]

Fully agree with PDLVictim. Taking out a PDL loan isnt worth it at all unless you can 1000000000000000000000000000000000000000000000000000% guarantee that you can pay it back on time or earlier. These companies rely on people not paying the loans back so they can hike on hundreds in unlawful charges.

[fletch70]

Absolutely up to her but my advice would be any other alternative. Unless she can guarantee to repay then it is likely to cost a lot of money and if payments missed more trouble than she can imagine.

[Guest Payday Survivor]

Money Shop was the first payday loan company i used, knowing very little about the market, to pay an oustanding bill.

 

Then i disovered all these other wonderful payday companies that operate online.

 

The joys!

[siennasmummy]

Hi,

Yes I said the same to her and I have showed her all the replies and thankfully, she is not going to take one out! In stead, she is going to sell a couple of things. She said she really wants and needs this holiday and so she can part with a couple of material things and at least she won't have to pay anything out when she gets home. Thanks for all the advice