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lovetobake

Im in the payday lending trap and need to sort it out!

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Hi everyone,

 

I have a couple of threads on here regarding various debts but I have been informed that I need a separate thread to deal with my payday loan issue.

 

for the last 18 months myself and my husband who were both self employed have been in a bad way financially, mainly due to lack of work but also we both struggle with mental health issues which has made the situation ten times worse.

 

Over this timescale we have had period of weeks where we have had no income and due to being threatened with eviction for non payment of rent and with no money for basic needs like food, we found ourselves falling into the clutches of payday lenders and loans with high APR because our credit ratings are bad.

 

Its now got to the point where we have managed to get our rent back under control but we are still having to renew loans just to make payments on others and its just spiralling out of control and we feel so ashamed at letting things get this bad and its giving us sleepless nights and affecting our health.

 

We both have a lot of demons and issues and struggle to deal with things but we have made the decision that we have to deal with this now and have decided to cancel paying these people but just send them a token payment whilst we try and find the best way forward.

 

The Payday loan we have at the moment is Myjar. this is the 3rd loan I have had from them and each time they have offered me more money over a longer period and to me this was a lifeline and never thought twice about taking it.

 

I have also had a loan with quidie which has now been settled.

 

We also have loans with 118 118 (very high interest rate) and Bamboo, again with high rate but I am guessing that I should deal with these separately as these are over longer periods so not really payday loans?

 

I was hoping to get some advice as to the options with dealing with these sharks but I have also read that you can put in a claim against them, even ones that have been settled. I am not sure what you can claim for or how to go about it but any help would be greatly appreciated.

 

LTB

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Well done for creating a new thread on this LTB

 

Go here - https://www.consumeractiongroup.co.uk/forum/attachment.php?attachmentid=69475

 

Read and then if you have any questions, come back :)


 

We could do with some help from you.

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

**Fko-Filee**

Receptaculum Ignis

 

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lovetobake

after reading the link, and deciding to claim

start a separate thread for each payday type account in the payday forum. it would then be a bit easier to focus on each account at a time on cag.

dont feel ashamed. it is noted that you say things are getting out of control and making you guys ill. help is here, but if you cant cope with dealing it all do say so.


IMO

:-):rant:

 

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Thank you guys for your replies.

 

I will read the link later for definate. In the meantime I have phoned my bank to cancel the automatic payments that Myjar and Bamboo take. The Bamboo one has been cancelled but the Myjar one they said wasnt a CPA? so they cant cancel it so I have had to cancel my debit card and they are sending me a new one.

 

I hope this is the right thing to do as a start to gaining control.

 

I will use this thread as the one for Myjar and set up others or the other companies

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Dont believe myjar 100% get on to your bank and get them to manually block it, incase there is one.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Dont believe myjar 100% get on to your bank and get them to manually block it, incase there is one.

 

 

It was the bank who told me that Myjar was not a CPA. they cancelled the one for Bamboo but said that Myjar was not one so they cancelled my card and are sending me a new one. I havent spoken to myjar, didnt see the point.

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https://www.consumeractiongroup.co.uk/forum/showthread.php?483931-In-a-Mess-and-need-to-deal-with-it-now Is this the link to your previously related thread? https://www.consumeractiongroup.co.uk/forum/showthread.php?483931-In-a-Mess-and-need-to-deal-with-it-now

You were advised to start new thread for each claim brought against a specific Payday Lender to avoid confusion, not to start new thread when updating your base OP.

eg, Orig thread + related updates.

New threads

1. Claim against PDL1

2. Claim against PDL3

 

 

ect

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O sorry, brain just isnt working!

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"no you start an irresponsible lending claim on EACH ONE

start a new threadlink3.gif in the PDL section.

 

keep these off this main thread

you can even send an IRL claim for the ones you've paid off

 

dx "

 

 

This is the advice dx gave me on the other thread, and this is what I thought I had done?

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Hello there.

 

If you have problems with all of the payday lenders, it's best to have a thread for each one. :) Makes it easier for everyone.

 

HB


Illegitimi non carborundum

 

 

 

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Ok, I understand. I will keep thread for Myjar.

 

A payment was due yesterday but I had no money in my account so it did not get paid.

I have cancelled my debit card on this account because my bank told me that it was not a CPA with them and so hopefully, they will not get any more money whilst I try and sort this.

 

So what happens next?

I have taken a screen shot of the loans that I have had from myjar.

I have also just had a voicemail left from them regarding the missed payment but I have blocked their number and I will not be returning their call.

 

I have read through the link about claiming but I am embarrassed to say that I dont completely understand, my head is like cotton wool!

 

I assume I now write to them.

do I say that I am experiencing financial difficulty and offer them £1 if they agree to stop interest or do I write a letter of complaint saying that they should not have lent me money, or both?

 

If I send a letter of complaint is there a template that can be used/adapted?

 

do I say that they lent to me irresponsibly?

I am sorry for all the questions but I dont really have a clue?

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Hello again.

 

I think there is a template letter to reduce the payments, but please wait for people in the know to arrive.

 

How was your payment to Myjar set up if it wasn't a CPA, direct debit?

 

HB


Illegitimi non carborundum

 

 

 

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Hello Honeybee,

 

I dont know the answer to your question I am afraid.

 

When I spoke to the bank they cancelled the CPA for the Bamboo loan but they said that Myjar was def not a CPA and as there is no DD

it can only be they manually deduct the money from my debit card which is why the bank suggested cancelling the card was the only option so this is what I have done.

 

LTD

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did you give them your pin?


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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did you give them your pin?

 

dx do you mean did I give Myjar my pin? o no of course not.

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then there is no otherway bar CPA or DD they can get your money.

 

strange

 

don't go sending offer letters

 

get those IRL letters off to every PDL company you have ever used.


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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then there is no otherway bar CPA or DD they can get your money.

 

strange

 

don't go sending offer letters

 

get those IRL letters off to every PDL company you have ever used.

 

Thank you dx I will although I am not sure what I should write.

 

I have checked my credit report which is pants but it does not show the PDL that were taken out and settled, only the ones that are open.

 

There is also a template letter for IR without gambling on the thread mentioned above so should I use that as a guide?

 

LTB

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LTB have you read the guide? If so there you have a template to work from... But you need to write your own... Give it a go and we can review it ☺️


 

We could do with some help from you.

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

**Fko-Filee**

Receptaculum Ignis

 

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