PAYDAY LOAN HELL- Help needed, please?

[green79]

Hi, i have many payday loans and am in desperate need of advice, my loans are with:-

Wonga £380 ish

PDUK £362.50 - have contacted to ask accept reduced repayment plan - still waiting for a reply!

Tower Capital £195

Cash Genie £156.00

247 Moneybox £200

Swift £195

Mini Credit £130

1ML £195 - But has since gone up to £224 with interest + charges

I have got 1ML to agree to £10 per month for 3 months, review after thi time.

Uncle Buck £195

QQ £275 - they have passed to MacKenzie Hall - who are complete s**ts!

(I know its disgusing - and i am soo ashamed of getting in this mess, but i really want to get it sorted)!

I have read through all other related posts, but still have a few queries, etc.

I have opended a new account (yesterday), so will get wages swapped over to that, and will not under any circumstances provide any of the above with the new details, and will make all payments by bank transfer from another account (not one where salary goes).

 

All the above are due for payment next week - am i best to leave them all as payment in full and then default, also should i contact them all before hand to advise them of my situation?

 

I have had many of these loans for getting on for 12 months now and can see no other way out, however, am concerned as i dont want them contacting me at work, which MH have already started to do, nor do i want people turning up at home, as i still live with Parents and do not want to worry them!!

Can anyone please help me?? All advice would be greatly appreciated.

I want to get myself sorted, its making me ill with worry, i will pay all back, as its my own stupid fault for getting in this mess, but at a rate i can afford, as all i have been doing is rolling over, robbing peter to pay paul, etc!!

I have got the telephone harrassment letter, which i have sent to MH, they are flatly refusing to accept any offer - say will only accept payment in full, as i took out the loan knowing it was a 1 month loan, etc - however i just can afford to do this. I can assure you i will not be talking to them again by telephone - they are sooooo rude!

Also, i will make payments to each of about £10 - 20 per month - more if i can, but do i try and pay off the lowest first, then move on to the next, and so on or????

Sorry to go peeps...but am at wits end now??? HELP,PLEASE??!!

[slgsue]

How will they be claiming the money? Is it DD or debit card??? Only ask this because you may incur charges on your bank account if it is still open!

 

If it was me and believe me am in the same kind of situation, I would pay £10/£20 to each every month until they are all cleared, that was after you have CCA'd them. There is a thread on how to do that too

[42man]

This would seem to be irresponsible lending on the part of some of these companies.....these companies need to check that you can afford these loans. There was a recent court case which concerned a guy who was lent a sum of money - BBC NEWS | Business | Five-year block on repossession your cases are different, but I feel that similar principles apply...

[PlumFairy]

Firstly stop panicing - I know easier said than done, but your health is more important than anything

 

You've made a good start by opening a new account. Keep an eye on you're old one for DD being set up - Uncle Buck especially do this.

 

I would contact them all before you default as at least you are then showing that you are looking to get out of the debt.

 

Work out what you can reasonably afford and make an offer to each. You could snowball as you suggest and pay the smaller ones off first.

 

No answering the 'phone insist on everything in writing.

 

Good luck

[green79]

Hi Guys,

 

Many Thanks for all your responses.

 

slgsue - They would have originally been taking payment via Debit Card - however, i have "lost" my old card and am waiting for a new one - for the new account. Once i have received this - i was going to write to the bank and ask them not to allow any payments to go out to the relevant companies!

Do i need to CCA them all then?? I will read the other posts - do i do this to cover my back - if they try to take further actions, then??

I think i will only be paying that amount anyway......as with the sheer amount of them - its all i can afford!!! At the mo' anyway!

 

Thanks PlumFairy - I'm sure once i have things under control & payment plans in place with them all (fingers crossed) - i will feel a little better!!

 

How do you think i should make their payments - via SO from my new account - or keep the old account open and pay it from there - Am i right in thinking that i should making sure they do not ever know my new bank details???

 

Does anyone know - are any of these guys likely to take me to court?? Will what im doing show on my credit report??

 

Many Thanks again peeps - I will keep you all up to date with how i get on.....Plus i'm sure i'll be back for more advice!!

 

Take Care!

[MsWeatherwax]

Hi Guys,

 

Many Thanks for all your responses.

 

slgsue - They would have originally been taking payment via Debit Card - however, i have "lost" my old card and am waiting for a new one - for the new account. Once i have received this - i was going to write to the bank and ask them not to allow any payments to go out to the relevant companies!

Do i need to CCA them all then?? I will read the other posts - do i do this to cover my back - if they try to take further actions, then??

I think i will only be paying that amount anyway......as with the sheer amount of them - its all i can afford!!! At the mo' anyway!

 

Thanks PlumFairy - I'm sure once i have things under control & payment plans in place with them all (fingers crossed) - i will feel a little better!!

 

How do you think i should make their payments - via SO from my new account - or keep the old account open and pay it from there - Am i right in thinking that i should making sure they do not ever know my new bank details???

 

Does anyone know - are any of these guys likely to take me to court?? Will what im doing show on my credit report??

 

Many Thanks again peeps - I will keep you all up to date with how i get on.....Plus i'm sure i'll be back for more advice!!

 

Take Care!

 

Make payments by SO only - I would be careful about using your old account to be honest. PDL companies have been known to carry on taking money via your card (yep, even when it's been cancelled!) and through direct debits. What could happen is, you'll put the money in to pay all your payment plans, and then whichever company has the "fastest finger" will clear the account out and it will mess up your payment plans.

 

If you use your new account and pay by standing order, they will have no access to your bank details, so it should be safe.

 

In the past, these companies have been very reluctant to pay a visit to a court room - they know their interest rates and charges are likely to be frowned upon by a judge. However, there are a couple of threads on here now suggesting that they have started to go down the court route. As long as you are making a reasonable attempt to pay them, I don't think you have anything to be worried about though. It's still very important to only agree to pay what you can reasonably afford though, for this reason - if they do take you to court and they can show that you've not kept up with the payment plans you agree to, it may go in their favour. Start small - less than you think can afford, then when you find you have cash left over at the end of the month, allocate it to the smallest debt to clear it more quickly.

 

As for registering defaults on your credit files, I can honestly say i wasn't far off where you are, and having checked my file as recently as...oh...today...thee's nothing on there from any of them. That's not to say that they won't change tactics on that one either, but up until now they haven't done so with me.

[green79]

Hey MsWeatherwax, Thanks for your post.

I will make sure i pay by SO and just to be on the safe side - will close my old account - that way - the buggers cant try anything!!

I feel a little less stressed now,after reading your advise.

I just dont want the embarrassing phone calls to work....but i will send off the harassment letter - if they starts! Which im sure they will.

I will make my offer of £5 - £10 per month...it may be small -but at least its something! And will await the battle!!

I will be letting them all know the situation tomorrow/tuesday - so i'll let you all know how i get on....

Thanks again.

[green79]

Hi Guys,

Need some more advise please......also to update you all on my situation to...

Well QQ/Mackenzie Hall have offered me final settlement of £170 - but pay in 7 days!!?? Wish i could afford to! they still refuse monthly £10.00,

PDUK - Still havent received a reply to my offer of £10.00 per month....

I have received a letter & email - you have defaulted on your loan.....blah.

Tower Capital - havent replied either..

Cash Genie - have accepted £20 per month - i am shocked!! But are saying they are charging me an extra months interest of £45!!! but will freeze balance after this.....am trying to get them to confirm the actual amount in emai...but they dont seem towant to do that..which worries me

Uncle Buck - havent replied either...

247 Moneybox keep sending me numerous emails...even though i keep sending them copies of my original email asking them to accept monthly payment plan.....they are also calling me at work...even though have asked them not to and keep everything in writing!!!

Wonga keep emailing me - to which i forward them copies of original email offering monthly amount... they are now trying to charge ridiculous charges & interest - any idea how i go about this???

Will i actually have to pay all the interest & charges they are adding on??

What do i do if they just keep ignoring me and keep emailing me ....with notification of UNPAID LOAN & DEFAULT FEES!!

When i wrote to them all i asked them to accept a reduced monthly payment amount & also refrain from adding further charges & interest,so that the money i pay actually reduces the amount i owe....but seems they are all just ignoring me??!!! great!!

Just unsure what to do next......any ideas?

Oh - i opened a new account and cancelled - sorry - lost :grin: - my cards!

Uncle Buck actully provided me their bank details - but havent accepted my offer - shall i make a payment? or wait?

Where do these charges & interest fees stand?? do i have to suffer them as i agreed to them (well i didnt -but im sure theres something in their small print somewhere) at the time of taking the loan out??

Sorry to go peeps.....just a bit worried...not sure if the silence is a good thing??!!

Thanks.