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Panicking!! Taken out loan with Wonga and Quick quid


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Hi all, in a panic over my finances. I took out two pay day loans due to debt I couldn't pay and I'm now on Job seeker's and realised I have made my situation a lot more worse than it was before. I borrowed £400 from both and payments are due one on the 27th of this month (quick quid) Quick quid want 450 and the other 6th October. Wonga will want 540 or thereabouts?


I'm really getting worried. I understand I need to cancel the CPA but have read nightmare stories about cancelling them as banks..I bank with Barclays aren't always very helpful in regards to doing that.

There is no way I can make the repayments and I guess i need to go on payment plan. I just don't know where to start??

Also do I need to close down my current account or is just sufficient to report my card stolen?

I don't want the bank charging me extra on top because there isn't sufficient money in the account which is in it's over draft.

I'm hoping that I can land a job in the next few weeks but it's very unlikely.


I have bills to pay and I just don't know how i'm going to manage. My job seeker's is £55 per week, so it's extremely tight. The job seekers does go into a different account, still with barclays but will that make any difference?? Could they still take it anyway?

I shouldn't have taken out the loan as I wasn't exactly employed well I thought I was going to be but then it didn't materialise...... I was over eager and now am suffering the consequences...

I'm desperately trying to land a job to make the payment but doubt i'll be able too...

Any any advice would be much appreciated. :-(:-(

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First of all don't panic. I've been there, done it and got a wardrobe full of t-shirts. First of all cancel the CPA on the loans asap. You need to secure your money in the form of putting it into another account so the vultures can't get to it. Contact them telling them you cannot afford the repayment on the dates and you wish to set up a repayment plan. You tell them what you can afford not the other way round. You may think its scary but these are probably the easier pdl companies to deal with. This is just from personal experience but someone with alot more knowledge will be along soon.


Take care and good luck

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Thank you, Citzen and Joeutd. Will get on to that asap. Really appreciate your guidance. :smile:

Will contact Bank on Monday and fingers crossed it will go ok. Nice to see there is legislation to back us up, hopefully the bank won't ignore it!

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  • 5 weeks later...

Hi Wilko, thank fully it all turned out ok. Regarding the CPA that was a bit of a nightmare I spoke to my bank barclays who informed they can not stop the CPA until the loan companies try and take the money from the account after which they can then stop the CPA. I was non stop on this forum researching and reading other people's dilemas. I first contacted Quick quid on live chat and they told me to speak to the collections team. I actually read on a thread for quick quid when you speak on live chat to Antionette she is really lovely and I can completely agree and thankfully she was on my live chat.I just explained my circumstances and they put me on to a repayment plan. I rang Wonga and they told me to go on to the website and click on to a payment plan option and I sucessfully entered an affordable repayment plan. I was so relieved, I couldn't believe how easy it was. I had been a nervous wreck, the past 2 weeks as it was building up to the repayment date and it all worked out in the end. I have to say both Wonga and quick quid were great. :-)

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Wow thats great, im really pleased for you. Im in a pickle myself but after joinin here a few days ago and 'reading up' on how things work im hopeful i can get myself back on track. I too have to arrange a repayment plan with wonga near the end of this month. Hopefully will go ok as its nearing xmas so need to get myself in a manageable position with my finances

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