HELP! me get off the Payday Loan Roundabout Of Doom!!

[crm84]

Hi all, been a member for a while now an always just browsed but got myself into a bit of a payday loan nightmare!!!

 

I have 7 pay day loans ( I Know I know)

 

After reading aroud on here, I have changed my works phone number on them all apart fo PaydayUK and Cash genie

 

What I need to know is does anyone have the contact email addresses for these companies listed below to see if i can set up payment arrangements, My mrs was out of work for a while but had to pay mortgae and bills hence these loans. all help appreciated!!

 

The ones I owe to are

 

Cash Genie £150

QuickQuid £400

MicroCredit £200

WageDayAdvance £150

Lending Stream £310

1MonthLoan £250

PaydayUK £400

 

D Day is hogmnay

[Jamie Kingston]

you can get the email addresses of the website's for each company. in most instances you are going to need to phone them, arrange a plan and confirm it in email, its not as simple as you send email and they response saying yes...

[sillygirl1]

I agree with Jamie.

 

If you can gt a new bank account set up - Halifax and the Post Office do good basic ones, do so otherwise the chances of your money going are rather high, even if you change your card details.

 

If they phone email them confirmation of the phone call.

[skyblue2027]

just a word of warning, cash genie are horrible to deal with in particular calling at work.

There is a template in the library for harassment. may be an idea to paste that into your mail.

[crm84]

Hi all, quick update,

 

Managed to scrape together enough money to pay off cash Genie so at least thats the hardest one out of the way, had 2 missed calls ths morning rom PaydayUK and WageDayAdvance, What would everyones advice be?

 

Do the snowballing effect for the smaller ones and pay a wee bit to the bigger ones or just organise a payment plan for them all?

[Jamie Kingston]

WDA will normally accept a plan over 6 months and payday uk over 12 months. payday uk are relatively easy to deal with and i;ve heard WDA are good if you call them but not to sure.

[fireflyer]

Sorry to hear of your problems with pay day loan companies.

I, too, regretfully hit a rough patch and turned to some of these immoral companies for loans.

Be careful. I made mistakes..........get everything you agree in writing. If you make any agreements to pay monthly amounts, state clealy that you make the agreement subject to receiving everything agreed in writing.

I had a payment plan with Cash Genie. Suddenly they removed the entire debt from my account.

According to them, i applied for a pay day loan from one of their 'sister' companies whilst in a repayment plan with them.

Not true. I did not apply for any loans from anyone. I asked for the proof. No response. No proof.

But, the money was gone.

I've just had Wage Day Advance empty my bank account over Xmas.

They rely on original terms and conditions even though you have set up new payment plans etc. And, you'll find that at any time they will raid your bank account and get everything they can. Then when you dispute this, the cock and bull starts about the terms and conditions. Wage day advance have in their T's & C's that they can keep your bank card details or, indeed, any method to take funds from you, at any time.

Do not do what i've done and leave any funds in your account.

The way i see it, they can't get blood out of a stone. Request that all interest/ charges are frozen. Set up payment plans that you can realistically afford. If they say it's not enough, then tell them that you've offered what you can afford and since they've chosen not to accept this, let matters proceed to court.

These monkeys don't want to be seen in court, that's a fact.

Good luck

[crm84]

Just called up WageDayAdvance there, and they said that I now owe them another £36 for a default charge as the direct debit failed as thats what they get charged, aye right so you do , however the gent I spoke to did talk me round and I eventually paid that one off as well, least I can sleep better knowing that at least two of them are now officially off my case!!

 

Payday UK are very very sympathetic of my cicrumstances and are going to give me a call over the next few days to sort out a payment plan but advised not to worry something could be sought out.

 

Then there was QQ.

 

They said they have extended the loan till the end of January with no extra charges or anything and if im still not in a position by the end of the month to pay them off then they will see what they can do.

 

Result or what must be the festive spirit?

 

Any ideas what to do about one month loan, MiniCredit & Lending Stream as none have even got in touch??

 

Happy New year everyone when it comes by the way

[fireflyer]

I hope you didn't fall for the extra £36.00 charge!!! If you were settling the whole debt, the ball was strongly in your court.

My advice is to formerly right to the remainder. Send by recorded delivery. Also fax to them too, if you can.

Keep notes of any times that you speak to anyone on the phone. You can demand that they do not make contact via the phone and only in writing, if you wish.

Make sure that you have reported your bank debit card as 'lost' and got a replacement. Do not give these details to any of them again.

If you make a payment plan with them, ask for their bank paying in details and pay the agreed amount that way. Make sure that your bank has no direct debits set up in their favour and inform you bank that under no circumstances are these companies to attempt to remove funds from your account via direct debit.

Get this agreed and in writing from the bank.

You can do no more than write to these companies with your proposals.

Let us know how you get on.

Happy new year!

[spursgirl1]

Hi All

 

I too have fallen foul of the PayDay loan companies. As with the rest of the Country, I was paid earlier in December (21st) and had a £99 charge go out OK on that date, then got an email stating that they would be recovering the loan amount - £649 - on 31st December!! Obviously, I tried to contact them to explain why this wasn't possible but could get no answer. In desparation, I tried the online chat link on the web site and spoke to a guy who said they would put me on a 'pre-default payment plan' designed for customers who knew that they would not be able to make the next payment. I took screenshots of the entire conversation (luckily). Then, lo and behold, I have received a default sums email from them stating that they had tried to take the £649 from my account and had been declined. I rang them straight back and explained the situation to two different women who then stated that they would have to go back into their live chat records and recall the matter and that a Manager would call me in the next 24-48 hours. I now have £12 in default sums from them and a further charge from Lloyds TSB due to the DD bouncing - NICE!!! Any ideas?

[robjam1969]

Hi spursgirl

I would just deduct the charges from what you pay them back. Just make sure you lose/report stolen that card because they will be back next time you have funds go in to your account!!

[crm84]

Hi Guys Heres the current update

 

Cash Genie £150 - Now Paid off in full as I heard they were a nightmare to deal with

==================================================

MiniCredit £200 - Now Paid off in full as the debt jumped to over £400 in 2 weeks!!! (More on them below)

==================================================

WageDayAdvance £150 - cost £220 because of some charge however, Now paid off in full.

==================================================

PaydayUK £400 - One of the most helpful and understaning ever, no charges or extra interest just £50 a month till its clear, VERY helpful staff at collections even though they did call 5 times a day lol

==================================================

1MonthLoan £250 - Got a payment plan being set up at present, and are negotiating charges

==================================================

QuickQuid £400 - They phone every now and again, but to my knowledge they dont accept payment plans for anything other than over 3 months, this is something I cant afford at all so might have to wait for DCA, unless anyone else knows differently?

==================================================

Lending Stream £310 Not heard a peep from Lending Stream at all, not even a phone call anyone advise if this is normal

===================================================

[sillygirl1]

For everyone concerned with these companies you must get an alternative bank account in place otherwise you may find all your funds gone at a very inconvenient time.

 

Fortunately now the banks are becoming more aware of the regulatiions and are becoming pro-active at alerting people to continual drains from the same company on their funds. Halifax in particular will freeze the account and call you to confirm details of payment and amount if they try other means....

 

Make sure you have a back up in place.

 

Keep everything in wrting, email is their favourite, and should they try court get back to us on here immediately for more help.

[crm84]

Anyway more on Minicredit, I honestly have never dealt with a more unhepful, unsympathetic and downright company in all my life, each time i called i got the same advisor, Give them the reason I couldn't pay and they just said oh well,you have to pay it anyway, its not going to go away, then said that I took on the loan, my responsibility, then said "Before you even ask, We will NOT be reducing balance and not freezing interest which is being added daily, just pay on your next pay at this timeloan had jumped from £200 to over £450 in the space of twow weeks, that includes a default carge (£25) and another charge o £55 not 3 days later for "Default 2", both defaults were served via email, th balance was on average increasing by scary amounts, so in the end just paid the the £450 and got shot of them, might leave me a bit skint but nothing compared to how big the debt would have been come pay day!!!

 

AVOID!!

[sillygirl1]

Report them to the OFT and Trading Standards, they are not supposed to behave like this.

[crm84]

SillyGirl, I'd happily report them to be honest however, im not really sure if i would serve much good at all, Im going to write it off to experience, I aways used a spare account anyway so I was certain they werent going to raid me

[sillygirl1]

If you accept it then the OFT etc an't do anything, the more complaints they get the better able they are to look at these companies procedures and stop them from having their credit licences renewed.

[crm84]

Think i might just complain then,

 

Their CCA License lists european individals, the person answering the phone sounds silmilar accent wise, so more than likely just a few people in the office, the best laugh is you call them at 10p per minute and if they dont answer within 3 mins it hangs up, when you redial you start at the end of the queue again, very frustrating! What sort of things do the OFT deal with? the money spiral or their attitude?

[sillygirl1]

Various things, the OFT control the issuing of licences and if firms do not have sufficient experience or things like a complaints procedure they can step in.

 

They have made 30 claims management companies hand back their licences rather than have sanctions and have closed down others recently... report here

 

http://www.credittoday.co.uk/news/news-item.cfm?news=2113

 

If you check on the OFT website you can see what they do, don't forget Trading Standards via Consumerdirect as well.

[crm84]

Hi Lucy are you in the BBC Manchester building as I'm sure I was to get back to one of your colleagues recently? you can PM me if you like

[crm84]

made my first Payment to 1monthloan the other day so now getting somewhere with this lot, still heard nothing from Lending Stream though, hmmmm

[jojo28]

Hi there...

 

i have only just joined today, as I googled "Help I need help with payday loans!

 

how have you got on? as have outstanding loans with all of the ones you have mentioned & Wonga, who have totaly cleared my bank account out so now I cant pay

all the others... joy!

 

Many thanks

 

Jo

Edited February 1, 2011 by jojo28

[jojo28]

Only me again.... Also I want to air my anger about a money lending company called "WONGA" I stupidly borrowed £1000, why they let me have that amount of money I dont know!!!! hadnt been able to pay it back, when I checked my account with them last week they said I now owed £1555! where the hell did that all come from?? well lots & lots of interest & charges over two months! wow!

So I got paid yesterday only to find WONGA has taken all of my salary that I just got paid out of my account-My whole salary I just got paid GONE!!!!

So I called them to say, what the F*** am I going to live on now? I have no money for rent/travel to work/food/or pay any of my other bloody payday loans!

They just said "well you owed the money & we cant give it back!! I said, "well I will be homeless/jobless/hungry might as well jump under a train cos there is no point I have nothing-what do I DO? the guy just said "How do you want to pay the outsytanding amount you have left on your acount of £324?? So I had to just put the phone down on him!

Is this allowed, can they leave you without no money to live on? lucky Im living with my BF who is going to help me for my travel & that but if I didnt have that I would be under a train.. So trust me they will not be getting anouther penny from me thats for sure now! I will be changing my account!

[lasek22uk]

Quick Quid - ignore them. Wait and once this debt goes to Clarity Managment - you can go for repayment plan.

Own experience.

[Jamie Kingston]

lol. too true.