How to go about sorting this mess out!

[stressedx]

My bank is taking so long so i used RBS, there is Barclays and Lloyds aswell x

[onlyateacher]

Hi. I defaulted two months ago and have a HSBC current account. I also have loans with Quickquid and Lending Stream that I am now paying off. Neither company set up direct debits or managed to take money from my account once I'd cancelled my card. If you can't/don't want to open a new account elsewhere have you thought about opening a savings account with HSBC? If you bank online, you can move your money around as and when you need it from account to account and at least protect your money a little better. I have a HSBC Flexsaver account which I use to 'hold' any small amounts. You would, however, be better opening a new account elsewhere- TSB gave me a current account with interest and a debit card despite my shoddy credit score.

[mustard7]

After advice, I have just defaulted on all my payday loans. This was the only option I had to avoid the spiralling debt.

I cancelled my card.. but havent changed accounts.

I emailed all my companies explaining the reasons and I offered a repayment plan.

 

This is what I have so far....

 

Quickquid.

Loan for £500 plus interest. Offered £50 a month until settled. So far recieved an email asking to call them. I havent. Should i?

 

Payday express

Loan for £240 plus interest. Offered £30 a month until settled. Recieved an email stating that unless I was imprisoned, mentally ill, deceased or made redundant then a repayment plan will not be considered.

 

Lending stream

Loan for £165 plus interest. Offered £30 a month until settled. Not had any correspondance as yet.

 

Minicredit

Loan for £100 plus interest. Offered £11 a month until settled. Email back saying use there webpage to email questions. But thats what I did!

 

Swift sterling

Loan for £200 plus interest. Offered £30 a month until settled. Had a phone call from them and was told that a repayment plan was not an option and could I settle this loan then take out another with them to cover this months shortfall!

I did explain to him that it was exactly that trap that im trying to get out of.

 

Anyway, thats it in a nutshell.... but so far no one has agreed a repayment plan. I have no idea what charges and interest are being added on.

Im also worried they will start to phone my place of work

 

Any help/advice would be appreciated.

[mustard7]

Anyone?

[ihateyes]

i would call each company once....

most of those companies either dont respond to emails, or will respond in a couple of weeks!!

QQ asked you to call, so call, but remember if they agree to anything tell them you wont be making your first payment til you have details of the repayment plan sent to you by email.

make sure your card is cancelled, and ask for sot sode/acc number/ref number so you can make standing oder payments....

[mustard7]

I shall phone them today.

What angle should I take regarding interest/late fees/charges etc?

[Crocdoc]

These companies are extremely difficult to negotiate with when it comes to freezing interest and charges, do you have other debts as alternative solution may be worth looking at.

[ihateyes]

The only problem i had was with payday express. all the rest stopped charges and interest.

[mustard7]

How did you negotiate with these companies? Phone/email?

Did they stop the interest straight away or did you have to push for it?

[ihateyes]

How did you negotiate with these companies? Phone/email?

Did they stop the interest straight away or did you have to push for it?

 

 

I advised that due to citrcumstances we need to set up a payment plan to clear current balance, stopping charges and interest.

 

Pretty easy, except for PDE. have had no experience of mini credit.

[Erica11 - Swift]

I would suggest making a token payment to everyone and explaining your situation once again. I am sure you will find an arrangement since the companies would want their money back.

[Erica11 - Swift]

Swift Sterling accepts payment via Debit Card and not Direct Debit. If you are experiencing difficulties paying your Swift Sterling loan please contact our Customer Care Team. Swift Sterling can be contacted directly on 08000 124 080 if you have any queries or concerns.

[42man]

May I ask why they do not accept direct debits ? if the debtor is offering to pay then surely it can't be turned down ? It seems to be more than a reasonable way of paying ?

[nortel]

Tbh you don't want to pay any of these people by dd anyway. Just gives them a free pass to your bank account.

 

I have successfully negotiated plans with 7 pdl companies. None of which got a penny after cancelling my debit card and direct debits. I just used my Internet banking to ensure they didn't re-set them up again (which they didn't fortunately)

[mustard7]

Hi,

I have today just received a default notice letter from payday express.

It gives me 14 days from the dare of the letter to pay up.. I can't!

When I originally cancelled my card I emailed them over and over again asking for a repayment plan... With no luck!

What should I do?

[betty28]

Hi

Mustard 7 i too am having problems with payday express i have been constantly emailing them to set up a repayment plan finally they agreed to the £20 per month that i had offered i emailed them again for the details so that i could set up a standing order but got no reply then out of the blue i got a email from a debt recovery agency telling me that because i have ignored my debt with payday express they now have the debt and if i don't pay they will take legal action i emailed them back explaining what i had arranged and now they are choosing to ignore my emails so i sent them a email the other day stating instead of sending emails threatening legal action it would be nice of them if they replied to my emails i am still awaiting a reply

[fernal]

Hi

Mustard 7 i too am having problems with payday express i have been constantly emailing them to set up a repayment plan finally they agreed to the £20 per month that i had offered i emailed them again for the details so that i could set up a standing order but got no reply then out of the blue i got a email from a debt recovery agency telling me that because i have ignored my debt with payday express they now have the debt and if i don't pay they will take legal action i emailed them back explaining what i had arranged and now they are choosing to ignore my emails so i sent them a email the other day stating instead of sending emails threatening legal action it would be nice of them if they replied to my emails i am still awaiting a reply

 

hi betty

 

most of the emails are generated by computers, i have a repayment plan with these and still get the letters from them saying ive made no contact ,but i phoned them and they say just ignore them ur on a repayment plan.

[mustard7]

Did you ever get a default notice?

I'm worried it will go on my credit file... That's a complete nightmare for me if it does!

How did you agree the repayment plan? Via email?]

[fernal]

Hi Mustard

 

Never checked my credit file so i dont know about default.

on the repayment plan , they kept phoning me at work, not often about once a week and only because i didnt answer my mobile.

found them ok to deal with. had the usual pay by debt card and pay more than i was offering (guy even said he would get done for faurd if he took a penny more from my card,! yeah right )

but i stuck my guns and they forwarded me there details for payments. phone calls stopped.

 

fernal

[amy_louise]

Do any of you have a email addres for Payday Express that they have replied to you with? ive emailed the customer service one hundreds of times and just been ignored

[fernal]

hi

 

i have had responses from [email protected] and [email protected]

 

fernal

Edited February 12, 2012 by 42man
Editing information...

[amy_louise]

Thanks Fernal, i have tried the customer support email and had no reply, i will try the other

 

Thanks

[mustard7]

I have just looked at the default notice again, it states that I have to pay the 'arrears balance' of £715 in full within 14 days.

This is on a loan that was originally only £240... surely this cannot be right?

[amy_louise]

Im having the same problem with these guys, i recieved a text message yesturday saying that because i have ignored all contact from Payday Express they are sending debt collectors in the next 3 to 4 days between the hours of 8AM - 7PM, they also sent me an email saying the same thing, i have sent them countless emails which they have ignored

 

Does anyone know if this is just a empty threat or will they send them??

[Darren MO]

Im having the same problem with these guys, i recieved a text message yesturday saying that because i have ignored all contact from Payday Express they are sending debt collectors in the next 3 to 4 days between the hours of 8AM - 7PM, they also sent me an email saying the same thing, i have sent them countless emails which they have ignored

 

Does anyone know if this is just a empty threat or will they send them??

 

That does sound worrying but i am sure that from what i have read on here you can say to them that they need to make an appointment with you before they do send debt collectors, and if you say you have no intention of making an appointment there is nothing they can do, i hope someone else can confirm this for me.