poundstillpayday, quickquid, the money shop

[emmathomas]

Hiya, my husband has a payday loan, an old one with quick quid. this was constantly rolled over for a period of 4+ months untill it just got too much and we stopped paying it as it was spiralling. My husband has now recieved hundreds of calls, at work and on his mobile so i have written a letter requesting all calls to stop and email to be the primary method of contact. I have included a request for total balance so i can sort a re-payment plan. The issue is they have our old address, i do not want to give them our new address, is this ok?

 

Also, i have 2 payday advances, one with the money shop and one with poundstillpayday. I have cancelled my bank cards so they cannot take money as i cannot afford to re-pay it any more - just had a £600 gas and electric bill!!!!!!! Im worried that as poundstillpayday have my bank details they will set up the direct debit randomly and debit my account. Also the cheques that the money shop has will not clear if they bank them if i dont pay. Last time i stuggled to find the fee, they basically said it wasnt their problem and would present the cheques anyways so i had to borrow funds from my student sister.

 

Where do i stand on repayment? I must have paid off the ammounts with the roll over payments but obviusly these are just their extortionate charges.

 

How can i also make sure they do not ring my work as if my boss answers i will be mortified! And one of them asked for the contact number of a close friend, me being stupid gave them one and i dont want her to get calls either. Any info or advice would be much appreciated.

 

Thanks in advance

[DaveManchester]

Don't worry about P2P they will hassle you but deal with them by e-mail.

 

They WILL offer you a reduced settlement (I owed £570, they offered me £450). I ignored that and it's gone to Clairty. E-mailed the saying I'd pay £20 a month and they were more than happy to accept that.

 

Happy days!

 

DO NOT WORRY ABOUT THESE SHARKS

 

Also log onto the P2P site asap and remove your tel numbers, set up fake ones.

[Enfieldian]

UPDATE.

 

Have spoken to Pounds Till Payday who refuse to set up a payment plan as my offer of £100 per month against a balance of £910 would take too long to clear.

 

Unlike the other three they have said that they WILL add default charges (as is their policy) and an Account Manager (some fat whiny !!!!! sitting in a cubicle somewhere with a name like Suki) will attempt to contact me to resolve the issue. If at the end of the month the balance is still outstanding (which, unless I win the lottery, it will be!) then they will pass the account to their DCA, Clarity.

 

I have read that Clarity are pretty reasonable to deal with so I will put the money I was willing to pay PTP this month to one side and offer them two months money next month.

 

Sooooooo.....

 

PayDay loans are obviously to be avoided, but if you DO go down this route, like any other debt, don't ignore it. Be proactive. I have had a 75% success rate in negotiating a repayment plan.

 

Write to/Email them explaining that you cannot pay the requested amounts. Offer a reasonable payment and ask for the total to be frozen.

 

Be prepared to negotiate.

 

If possible change/remove your contact details on their website. Delete work numbers etc. I have a PAYG mobile set up just for these guys, so I know who is likely to be calling even if the number is witheld.

 

Keep copies of everything.

 

Cancel Direct Debits and "Lose" debit cards, HSBC issued my new one in 3 days so you won't be without for two long.

 

If you are using online banking check that they don't try and set up the DDs again.

 

Tell them that your bank will no longer allow DDs on your account, so payment has to be by Standing Order, payment book or even PayPal.

 

You can use a prepaid credit card just for this purpose. They cannot take money from it if there is nothing on there so only load up just before a payment is due, just in case.

 

Write down how much the loan is for and the reloan cost. Add these together to give an "outstanding balance". Each month you can reduce figure by your payment instead of knowing that you have "rolled over" and paid nothing off. This will cheer you up no end as you will see the totals reduce quickly.

 

And finally,

 

Avoid Pounds Till Payday like the plague.

[emmathomas]

Thanks for the advice, much appreciated. Recieved a letter from a dca on behalf of quick quid offering me a reduced final settlement fee, i have written a letter in responce stating i am not in a financial situation to settle in full and included a £5 token cheque untill we set up an appropriate re-payment scheme.

 

I am going to write to the money shop to see what can be done

 

Thanks again

[theotherside]

I found communicating with Quickquid by email in a different language each time more than usefull, they've given up.

[Revvy]

The horrible thing about these places is that they literally throw money at you when you walk in for the first time.

 

These horrible places should be made illegal. They do not help make ends meet, they seduce people into a cycle of debt! I have discouraged many people from utilising the "services" of these sharks.