Help! I need somebody...

[Guest dan-88]

Hi all,Like all the other victims on this site I've got into a problem with Payday loan companies. It's got to the point were next month my entire wage will be taken up before it comes to my bills etc which come to around £850.I currently owe the following, all due to come out on 18/05/12Wonga: £625Payday Express: £505Wageday Advance: £320Toothfairy: £270Now to make matters worse, I work for a bank, who can fire me for getting into financial difficulty, so I cannot allow these companies to speak to my work. I highly doubt this would happen, but it's another worry.Please could somebody give some advise as to what to do.Today I've cancelled my bank card, and will send off an email to each of the companies advising I am in financial difficulty, and requesting a payment plan. I earn around £1150 a month, but working overtime I can take this to around £1800, but overtime isn't guranteed, and it looks likely that it will be cut after a couple of months. Would the companies accept this if I can't pay a large chunk one month, but not the next?Please help people, this really is ruining my life. I can't sleep, I can't work, I'm arguing with my girlfriend (who isn't aware of these debts). Thanks

[42man]

I think the first port of call should be the National Debtline, their advice is free, confidential and impartial - http://www.nationaldebtline.co.uk/

[26072004]

Work out how much you have left from your wages (the £1100 not the £1800) to repay these after you pay any essential bills.

 

It might be worth clearing the two smallest and just defaulting on the larger two, this will save you interest and default fees.

[Guest Poguesy]

Welcome

 

It's time to take the plunge and default if you can't keep up with them anymore.

 

Get the emails sent off to the collection teams and state what you can afford to pay back each month and stand firm with it.

 

I found Wageday Advance pretty easy to deal with as it only took a few days arguing over emails but they eventually accepted.

 

Payday Express were a different story. You'll be most likely be told by them you have to meet their strict criteria to qualify for a repayment plan and they'll start hiking on the extra interest and charges. Once collections say no get a formal complaint sent to customercare@paydayexpress.co.uk. They can be a pain in the backside but they will give in sooner or later.

 

Not sure on how it affects ya work situation. I'm sure someone will along to advise on that.

 

Good luck!

[clairlouise]

hi your not alone i too got in a mess and just coming out the better end now.

Wonga - default and contact them immediately the sooner you do the sooner they will freeze interest and they will set up a pymt arrangement which you must stick too.

wageday advance - will normally add a further 1 mths interest but then let you settle over three months

im not sure on the other two but stick to your guns take control and good luck