me and my debt resulting from gambling hell - help

[joshmark]

to be honest if someone offered me another loan today i would take it

 

I know how stupid this is but my girlfriend and her mom are the only people in this world who dont think im a complete idiot

 

I just dont know how else to find this £225

 

I dont know how I am going to fight back my tears at work today

 

wish me luck

[Tawnyowl]

You go to work Joshmark.We will work it through

Advice will arrive for you again.

Just warming up the keyboard.

And having a double whisky.

Only joking

And no loans young man.

There are other ways

May be tough,but right.

Enoy your day.

This page will be full by the time you come home.

And steady on for a moment with emailing the creditors today.

The PDL,wait till tonight,look for the advice first.

Do not rush in.

I am rushing this at the mo incase you are heading for work.

Wait before emailing anyone.

Do not till we think about it. give your new bank details to them.

Edited July 30, 2013 by tawnyowl

[joshmark]

hi tawny

 

I just read this at work

 

I will wait for some more advice, as I am still not sure how to write my email explaining I cannot pay etc and how to ask them to set me up a repayment plan - I would need to pay back a tiny amount per month simply because of the amount of companies i need to pay back, so i need to know how to get them to agree to this and stop my interest

 

I am going to have to sell my phone and everything on ebay now, thats the plan for my lunch break, because aside from that I have no idea how I am going to pay my girlfriends mom

 

Literally gonna sell my winter clothes and everything, its the only chance I have got...

 

I need to pay this £220 - and then in a couple of weeks my car insurance is up and my mot is up... i will most likely have to give up my car, and then i wont be able to make it to work without travelling for 2 hours...

 

my car ins is due on the 8th, i could only possibly pay this on the 30th after wages presuming I have enough left and my creditors agree to my terms

 

cant see a way out

[Tawnyowl]

Hi Joshmark

If you get any time ,on a break etc,take a look at this.It will give you a idea of the letters you may need shortly.

And there is a budget planner to look at.Maybe fill it in,tinkle about with it

Maybe a bit boring for youngsters but it has to be looked at.

And to much info at one time may do your nut in.It nearly did with me.

Perhaps some think it did.

Best to drip feed.Otherwise it feels like the old water torture.

http://www.consumeractiongroup.co.uk/forum/showthread.php?20758

More soon.

Edited July 30, 2013 by tawnyowl

[joshmark]

i keep getting a popup from thsi site called "money manager" it looks like a good tool but whenever i click it it dissapears!

[joshmark]

that is a super link thanks tawny!!

 

so i guess i am best to send all my creditors thsi one:

 

Letter B - Ask your creditors to accept pro rata offers of payment on your debts

 

or may it be worth sending this one to santander / nationwide and the rest as i was already in debt when they gave me the loans?

 

Letter C - Ask your creditors to accept a token payment or no payment on your debts

[Tawnyowl]

Pop Ups

I personally do not know where they appear from.

Perhaps it is because we are talking about debt.

Someone will know.

I will tell you one thing.

You are fast at taking info in.

The letters

They sure are good to look at.Someone took some time writing those.

I will look at B.

Yes,why not.Change the we for i,things like that.

Why not.These are the letters to Santander and Nationwide.Do you feel the same.

Certainly not the Payday Lenders.We will deal with that separately.For sure.

Edited July 30, 2013 by tawnyowl

[joshmark]

thanks tawny now I have got these letter's i feel like I am comfortable and I know how to deal with my creditors

 

Is just a matter of whether i try letter C or stick to letter B

 

just gotta hope i get enough from ebay to get money for my car insurance / mot and holiday - i cant see any other way round this - can you?

 

cheers!

[joshmark]

I just read your previous comment haha. I am an insurance broker actually But i cant progress to be a fully certified adviser until I get this all sorted out as it hogs too much of my brain!!

 

Where are you from tawny? I am from the shady dark depths of Birmingham...

[joshmark]

Maybe it will be best to send all my creditors this letter and have soem time to consider further?

 

old action on your account

Ask your creditors to hold action on your account.

 

1 High Street,

Newtown,

Kent

R21 4RH

 

June 28, 2006

 

The Loan Company

Company House,

Church Street,

Newtown,

Kent,

R1 7HG

 

Dear Sir/Madam

 

Re:− Account/Reference Number 4563210025897412

 

We are writing to inform you that we are seeking advice and assistance regarding our current financial difficulties.

 

To this end, we would appreciate if you could hold any action on the above account for a period of at least 28 days.

 

Also, during this period, could you please freeze interesticon and/or any other charges accruing on the above account.

 

We look forward to hearing from you as soon as possible.

 

Yours faithfully

Mr A N Other

[Tawnyowl]

I just read your previous comment haha. I am an insurance broker actually But i cant progress to be a fully certified adviser until I get this all sorted out as it hogs too much of my brain!!

 

Where are you from tawny? I am from the shady dark depths of Birmingham...

 

I edited it.I did not want you to feel i was nosey.I am from Blackpool.

I tent to chat a bit about payday lenders.If you ever get some time take a look here

I bore people to death.But no one has said that yet..17 pages long now.

http://www.consumeractiongroup.co.uk/forum/showthread.php?311559-End-Legalised-Loan-Sharks./page17

It is true though

Taxmen and Bankers have a strange effect on me.As do accountants,estate agents,not insurance brokers though.

Yes i feel that is a good letter to send.It will give you some time.

 

Just wondering have you cancelled your old bank account now.

Just thinking about any CPA s you may have.

Or is this not relevant now.

Payday Lenders.

It is just ,we have to be very careful about them.

Edited July 30, 2013 by tawnyowl

[joshmark]

Hi Tawny

 

I need to decide then

 

Payday loan companies - I either send them a letter telling them I need 28 days to consider my finances, offer them a repayment plan or ask them to write off the debt.

Santander / Nationwide - I need to make the same decision as above

 

And then I need to sell my stuff on ebay so I can pay my girlfriends mom.

 

Do you have any idea's of what I can do to get any money over the next few days to help with my car insurance?

 

Maybe ebay is my only option. Just sell as much as I can.

 

Just scared I will not have enough for my car insurance and then I wont know how to get to work!

 

I will ask a debt advice company if you do not feel comfortable to advise me on which letters to send to whom?

 

God bless you sir you have helped me no end

[sequenci]

Hey Josh,

 

Here's a downloadable copy of 'Dealing with your debts' - it's really very usfeul:

 

http://www.nationaldebtline.co.uk/england_wales/pdf/self-help-pack/self-help-pack-full.pdf

 

If you would like your creditors to hold action for a while, send them something along the lines of:

 

The Loan Company

Company House,

Church Street,

Newtown,

Kent,

R1 7HG

Dear Sir/Madam

Re:- Account/Reference Number 4563210025897412

We are writing to inform you that we are seeking advice and assistance regarding our current financial

difficulties.

To this end, we would appreciate if you could hold any action on the above account for a period of at least 28

days.

Also, during this period, could you please freeze interest and/or any other charges accruing on the above

account.

We look forward to hearing from you as soon as possible.

Yours faithfully

Mr A N Other

[joshmark]

Hi

 

I think I will send every creditor I owe money to the above letter asking for 28 days hold.

 

Then I will contact the national debt helpline and tell them all about my situation then they will advise me if I am best to ask for a repayment plan or if I may be able to get out of the debt entirely if it was unfairly sold to me?

 

Does this seem like a good plan?

[sequenci]

Sounds good. You could also have a go through this online system - it can give you basic tailored advice about your best options: https://www.mymoneysteps.org/

 

It'll be worth seeking telephone advice, though, as the gambling angle is something that would need to be talked about.

[Tawnyowl]

Hi sequenci.

Long time since you advised me.

Fading now in the mists of time.

Thank goodness.

 

Joshmark,hold that thought for a moment on payday loans,the letter

As for ideas on the holiday ,car insurance etc.

Get busy young man,there is insurance to be sold.

And maybe have the mother of all car boot sales.

I have heard that on facebook,there are now online local car boots,locally,that avoid commission etc

Not a member myself,but catching on fast i believe.

And local for you is one hell of a catchment area,a city.

Maybe even tell your girlfriend,i have had a few problems with my finances and am trying to sort them out.

Whether you tell her about the fading,hopefully addiction,well you may spit it out.

You know what girlfriends are like.Like mothers at times.Hopefully.

 

Sorry i missed the post from sequenci.

National Debtline.Nice

 

My only worry is how to deal with the payday lenders.

So many stories of them hoovering money from accounts.

The Lepers of Lending.

We have to be careful with them.

Do not give them your new bank details.

Other advice on this matter perhaps.

Edited July 30, 2013 by tawnyowl

[sequenci]

Hi Tawny

 

Glad to see you're still around on the forums!

[slick132]

hi Josh,

 

Like many others, I have been following without always commenting but I have something to suggest.

 

Selling your phone sounds like a bad idea for many reasons but I see why you feel the need to pay the money to your GF's mum.

 

I can see why you feel you can't tell them about your problems. However, if you're ready to address your problems, maybe these are the very people who will understand, support and help you just when you most need it. If that would ease one more problem for a short while, it'll give you a chance to address the other creditors.

 

However, it is of course up to you and my suggestion may be naive or wrong at this moment.

 

One other point - have you done your best to protect the salary I assume will land in your bank a/c shortly. Unless you've done this by contacting the bank as previously discussed, the PDL's will hit your a/c with CPA withdrawals without mercy.

 

[joshmark]

National debtline are 5 minuites down the road from me! But i dont think they will let you walk in, so I will give them a call when I finish work and ask for their input.

 

Tawny - the payday loan companies are due to take money on 01/08/2013 - i am therefore very keep to send off the 28 day suspense letter to stop me getting more charges / letters on the first -

 

do you suggest i call national debtline and ask if they think i should send the letter or what should i do? I really want to get something emailed off asap

[joshmark]

SLICK - thank you for your kind contribution, my lunch hour is in 45 mins - i will make sure i call the bank and ensure nothing further is taken!

 

Its a decent idea r.e my girlfriend, i will tell her and see if she thinks it is worth asking her mom for me to pay a few days later!

 

thank you for your efforts

[Tawnyowl]

Could someone please advise the best way of dealing with,i believe the 3 Payday loans that joshmark has.

My only concern now.

It is just that there are so many horror stories.

He has a new bank account now.That hopefully they do not know about.

Will phoning the bank be enough.

Or maybe take this to them.

 

Hi, affixed

template

letter - either hand in to the bank in person (take another copy along and get them to sign to say they've received a copy) or send by recorded delivery.

 

Attached Files

• Letter to bank to stop PDL payments.doc‎ (11.0 K
  

 

 

Credit to Ell-enn for this.

She helped someone in similar circumstances.

 

 

Slick senses the danger.As others do

The payday lenders have to be dealt with firmly.

If others can improve,update please do.

I do not trust them.

And never will.

The end.

Sorry if i seem to go on a bit.

Tawnyowl

Edited July 30, 2013 by tawnyowl

[slick132]

I think I said earlier, the bank must be contacted immediately and told to put a stop on all CPA's from the PDL's. This must be followed up in writing, delivered to the bank.

 

This is not so important if Josh is having salary paid to a new bank a/c that the PDL's have no info for.

 

But if Josh's salary is going to the "old" bank a/c, fast action is required as the PDL's will raid during the night or anything else to get their money.

 

This is the priority above all else for now, to protect salary so you have money to exist on.

 

[joshmark]

Hi Tawny

 

Current plan:

 

Take your letter into the bank tommorrow and make sure it is actioned on the same day - stop any payments coming out.

 

Could I also take this letter to my bank santander and tell them to remove santander's own continued payment authority? They are one of the companies that gave me a loan.

 

Today I am calling national debt helpline and asking what letter's they think I should send to santander / nationwide / payday loans companies.

 

It will either be to ask them to delete the debt or to set up a payment plan or to give me 28 further days to consider.

 

Feels like this side of thing is starting to come together.

 

Just gotta hope my ebay is a success now, even if it means I will be swopping from a samsung galaxy to a nokia!

 

Cheers

[joshmark]

Slick - there will be no money in the account the payday people know - but it is worth getting this letter in anyways or else my bank may add charges to my account?

[sequenci]

National debtline are 5 minuites down the road from me! But i dont think they will let you walk in, so I will give them a call when I finish work and ask for their input.

 

Tawny - the payday loan companies are due to take money on 01/08/2013 - i am therefore very keep to send off the 28 day suspense letter to stop me getting more charges / letters on the first -

 

do you suggest i call national debtline and ask if they think i should send the letter or what should i do? I really want to get something emailed off asap

 

They don't let anyone walk in, sadly.

 

You're in Birmingham too? So am I

 

For the record, if you feel you need fact-to-face advice there is the CAB on Corporation Street and Birmingham Settlement in Aston/Nechells.