Well started the process of clearing my debts

[rodgerramjet]

Thanks to the great advice on here, I have begun the process of ending this PDL nightmare. I have done my budget and know what I can pay each PDL. I have a new account setup for wages etc and its not linked to any other account.

 

My loans are to

 

Wonga - Default end of Feb

Swift Sterling - Default end of Feb

PDUK - Default end of Feb

PD express - Default end of Feb

247 Money Box - Clear in full end of Feb

Zebit - Pay most of it in Feb

Quid.co.uk - Pay most of it in Feb

Money Shop - Clear in full end of Feb

Peachy - Clear in full end of Feb

 

Cheque Centre - 12 month installment loan - will go one month in arrears end of Feb. (not sure how they will react) if anyone has any experience of this type of loan please let me know.

 

Yesterday I phoned both banks Natwest and Lloyds to cancel CPAs and low and behold they put me through to the visa disputes team who informed me that I didnt have any CPAs setup on my account. So today I will hand in letters of cancellation and will also report all cards stolen. I want to keep one of the accounts active for paying out to PDLs as I wont give out any details of my new account.

 

So last night I sent nice emails off to Wonga, Swift Sterling, PD express and PDUK.

 

Swift Sterling - emailed back saying thanks for letting them know and to email them with a time that they can contact me.

Wonga - emailed back saying to log into my account and see repayment options, did log in but just the set reminder to extend option at the moment. Suppose I wont see anything until I default, they did thank me for getting in touch.

PD express - sent me a text message stating that if I wanted to extend then replay to the text. Strange as I said I wouldnt be able to pay anything this month.

PDUK - no response as yet.

 

No money left in any bank accounts so if they are trying they wont have any success.

 

Will keep this thread going for my own sanity and hopefully help others.

 

Cheque centre one is the unknown to date, its an installment loan but if I cleared at the end of the month id save alot of money. Might need to see what I can do as they seem the most agressive.

 

I really could kick myself for creating this mess

[renegadeimp]

Don't report them stolen. Report them lost or compromised. Also, do NOT call any PDL's, and do not allow PDL's to call you. If they want to discuss the debt, they can do it by letter or email.

[rodgerramjet]

Ok I will email Swift Sterling back and inform them that payment plan is to be agreed in writing.

 

Is there any reason not to report cards as stolen?

[renegadeimp]

Some banks will ask for a crime number. It's much easier to simply tell them that the card is lost or its been compromised and you want it cancelled immediately and a new one issued.

[rodgerramjet]

Good advice I hadn't thought of that, so much to think About, never again

[Guest Payday Survivor]

Payday Express will probably start with their strict criteria for repayment plans bull and start adding the interest/charges. If this is the case then make a formal complaint to [email protected] once you have tried to negotiate with them and stand ya ground. You could be lucky, though

 

Payday UK i found easiest to talk to over the phone after i defaulted. They put a repayment plan in place straight away and never added anything extra to the debt.

 

QuickQuid are easy enough to handle.

 

I did have dealings with Cheque Centre but that was for a short-term loan. They were fairly okay to deal with and got little hassle off them, although i did pay it off in full not long after defaulting.

[rodgerramjet]

Thank survivor, from what I've read express will be tricky and I will approach cheque centre tomorrow.

 

No backing down if it goes well I will be clear by June. Applying to credit union for a loan as the interest is minor plus it will force me to save money as well.

 

Not doing a consolidation loan though just end up even more grief

[Guest Payday Survivor]

It all works itself it out in the end. I had eleven of the damn things and now i'm down to one.

 

I recommend the credit unions, although i must admit i defaulted on them as well lol

[rodgerramjet]

I don't know if they will go for a loan, I can't apply until the end of the month. Just going to deal with things the way they are and if I can sort it quicker then do be it.

 

I'm actuall glad this is happening, a major kick up the ass and hey even if I was stupid enough to even think about using them again I bet none of them would touch me with a barge pole.

[rodgerramjet]

Ok been back on to Natwest and reported two debit cards lost, also siad I wanted to complain that my request to have any CPAs cancelled has not ben actioned, the chap said to me there were none set up against my debit card? this is doing my head in, he went onto say that what they do is setup pre approved transactions for as little as 50p and on the day the their sytem then sets the amount.

 

How do i calrify what information is right? please help.

[renegadeimp]

CPA's arent set up against the card. They are set up against the account.

[rodgerramjet]

Ive got letters typed up to hand into the banks with the template from this site re cancelling CPAs, ill see how I go with that.

[renegadeimp]

All you need to do is take the letter to your nearest branch, get it photocopied, signed, stamped and dated. You keep the copy, they keep the original.

 

Also, make sure you word it like this " You are instructed to Cancel and Deny ANY and ALL transactions to the company xxxx and their associated merchants xxxx"

 

From then on, it doesnt matter what excuse they try and give. If the money comes out, they are obliged by law to put it back, and remove any charges.

[rodgerramjet]

I will change the wording just now and reprint. Thanks for the advice

[renegadeimp]

One more bit of advice, get the letter to your branch a few hours before close of business at least 24 hours before the transaction is due to take place. The bank wont be able to make any excuses that way, and remember, they cannot refuse to accept instructions on your account. If they are adamant they wont stop the transactions, then we can look into BCOBS, a full and formal complaint, as well as really making them see their behinds with a letter of appropriation.

[rodgerramjet]

My D-Day is the 28th and money secured, I will hand in the letters over tomorrow so they have plenty of time to cancel everything. I don't have an overdraft but have read of people being put into unauthorised overdraft due to visa agreeing the payment, is this true ? If so I will just cancel accounts.

 

Had responses from Pduk and pd express wanting IE forms just going send back the basic and nicely tell them that's all there getting

[renegadeimp]

Just stand your ground with the bank. You dont want to care what the silly clerks at the branch have to say. All you need is for them to perform the above steps with the letter so you are completely covered.

[rodgerramjet]

Pleease keep the advice coming, I will use every bit of it.

 

I saw one post on here that spoke about the Data protextion act in relation to IE forms, does anyone have the details or a link where I can find it. Wnat to keep up the momentum while everyone is being nice.

[renegadeimp]

Only high priority creditors such as mortgage lenders or courts can demand an I&E. PDL's try and demand in the vain illusion that they think they are a high priority creditor. However, the only thing you should give them, if anything, is a very simplified budget summary and sign it as a declaration of fact. Way too many PDL's demand a full I&E form, bank statements, payslips etc. None of which they have any rights to see.

[rodgerramjet]

Ok so I send in a jpg format the following -

 

Wages £x

Priority outgongs £x

available for repayment of debts £x

repayment offer £x

 

is that enough ?

[renegadeimp]

Pretty much. Theyll probably get annoyed and demand more, but if they do this, we can write a nice little letter to shut them down.

[rodgerramjet]

ok im sending them that information now. would defo appreciate the take a hike letter should they get annoyed.

[rodgerramjet]

Update-

 

Sent basic IE Info to Pduk and PDE last night, so I'm not expecting a response till the end of the week.

 

Did hear back from swift sterling, basically saying repayment plan is not an option, so I've sent off the email again stating what I can pay and when it will start from.

 

Letters typed up for banks and I will hand these in today.

 

Need to contact wonga again today as they sent me the standard log in to your account email.

 

The dance goes on.

[renegadeimp]

Remind swift sterling of the guidlines which they must adhere by. Refusing a repayment plan when a debtor has shown they are in financial difficulty is a big no no.

[rodgerramjet]

I sent an email to swift sterling again stating repayment plan is the only way to resovle the debt issue. If i get a dissmissive reply I will sdo the reminder email. Just need to find the exact wording from OFT regarding repayment plans so I can quote them.

 

Payday express have come back again, they still want me to call (which I wont do) and sort out the plan. Funny they say they want me to call as it can take upto 3 days to respond to emails. the email I sent was yesterday evening, so I think they are telling fibs.

 

still waiting to hear from Wonga and PDUK.

 

One qusetion I have, is it ok to make faster payments to these companys from my new account? im assuming it will only send the same information as listed on a standing order.