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Hi,

 

We have a PDL which is not really affordable.

We had to borrow £500 due to unexpected bills etc and not enough money for food etc at Christmas so we took out this loan.

 

I know they charge extortionate interest rates which is fair enough but as we borrowed so much we had to have a longer repayment period (6 months) and in total we will be repaying over £1000!!

 

We are really struggling to repay this and yes we did know at the time and yes we did tick the box to say it is affordable but it means we are in the situation where we have run out of food and not enough money to get us through to each payday!

 

The repayments are reducing the amount we have to spend on food each month and with kids and pets and a roof to keep over our heads and no friends or family to help with money its proving hard!

 

Our credit file is shot due to our DMP so I don't know if they credit checked us or not but really they should not have lent to us.

Is there anything we can do??

 

We don't want to default and don't want another account on our dmp as we are trying to improve our credit files.

Most of our defaults drop off this year.

 

I guess I am wondering if we can manage to get through and keep up payments can we do anything about irresponsible lending?

 

I have health issues meaning I can't work so as a family it has been hard, hence the need for the PDL.

I am determined never to have to take out a PDL again so no judgement please.

Life is hard enough for me Im in pain every day and getting depressed about money and the fact we will NEVER pay off our DMP at £1 per creditor per month!!

 

Thanks for listening and any advice :)

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whos the lender

and who's the dmp with?

 

hope you sent everyone on the plan a CCA request rather than blindly paying them?


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, the whole DCA industry would collapse overnight.

 

 

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Yes I've sent everyone a CCA request...not heard back yet.

 

I manage the dmp myself - always have. Currently only paying them all £1 because thats all we can afford :(

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no CCA = NO PAY. 14 working days and ticking!!


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, the whole DCA industry would collapse overnight.

 

 

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For my overdrafts do I send them an SAR and will that include a copy of the agreement?

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not on od's you cant there is no agreement

just send the original creditor an sar

lets see how much is penalties and interest


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, the whole DCA industry would collapse overnight.

 

 

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not on od's you cant there is no agreement

just send the original creditor an sar

lets see how much is penalties and interest

 

Subject to the age of the overdraft...on newer accounts sec 61 B.

 

https://www.legislation.gov.uk/ukpga/1974/39/section/61B

 

 

Andy


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