Payday Plonker

[Guest Radgie]

Hey!

 

I used to have an account a while back but have lost access to that, so thought i would rejoin and say hello

 

I've been yet another victim of the payday loan hell but now i want to share my experiences of them and help out others in any way i can.

 

At its worst i had payday loans with 24/7 Moneybox, Cheque Centre, Minicredit, Money Shop, One Month Loan, Payday Express, Payday UK, QuickQuid, Speed-e-loans, Txtloan and Wageday Advance.

 

I now only have four of these left and i will start the new year owing money only to QuickQuid.

 

Obviously, some of these were harder to negotiate with others when it came to repayment plans and wiping the extra interest/charges but that's why i'm here to help.

 

Anyways,

 

Look forward to meeting some of you

[Welshy27]

Hi there!

 

It's a great feeling isn't it to know that you are in control of your finances and that you've got a target to meet in paying them off. I have one active loan that is still ongoing with Toothfairy, one defaulted with Wonga that I set up a repayment plan for with them and lastly a Minicredit defaulted loan which was passed on to Opos DCA where they agreed to a monthly repayment. By the end of Nov, I will have paid off Toothfairy and Wonga. By Feb I hope to have paid off Minicredit/Opos.

 

This site helped me so much in regards to how I could deal with these loan companies and my rights when it came to defaulting and setting up payment plans. Like you, I have stuck around on these forums wanting to give something back in any way I think I can.

[Guest Radgie]

Yeah,

 

I was an absolute mess at the start of the year but this place really helped me out. I used this place to weigh up each payday loan company before the great default, so paid off the worst ones like Minicredt and Speed-e-loans.

 

Some of them, such as Payday UK and One Month Loan, were easy to deal with but i remember all the formal complaints i did against Payday Express! Money Shop were a pain as well. I had to to make a complaint to the company secretary before they gave up the extra interest/charges. They're actually wiping some of the debt if i pay a settlement fee at the end of this month

 

I really cannot wait for when i get paid in November and realise most of my wages are mine to do as i please

[pb8111]

When I look back on myself 12 months ago having to get PDLs to clear other PDLs it would keep me awake at night but it feels great every month when on my little excel spreadsheet i put a green on each on the monthly payments for each company knowing that the reds cells are slowly being reduced, Owed at its peak about 9k to PDLs, now down to about 6k and should all be paid off this time next year.

[Welshy27]

I know what you mean about reflecting on things and feeling a sense of relief and optimism. All of last year, I developed an addiction to online gambling which saw me turning to PDLs to fund my addiction. Like you, I was rolling loans over and taking out new ones to pay existing ones etc. It all came to a head at the start of this year where I confessed all to my parents about my gambling and debt which of course disappointed/angered them. This gave me the motivation to address my problem and start dealing with the loans. Thankfully that's when I discovered this site.

 

As I said above, I'm so looking forward to the end of November when two of my three loans will have been paid off. I also borrowed a loan off a close family friend which will have been repayed back in full in Nov too. At least I will be starting the new year with my finance back on track where I can use my money more wisely since I have had no further interest in wanting to gamble. It's all been a tough lesson but a one off slip up on my part due to the challenging circumstances (health related) I was facing at the time which are continuing to improve.

[Bombaymix]

Gosh welshy, that post reminds me so much of me! Payday loans to fund online gambling.

 

Fantastic that you've come out of it the other end relatively unscathed. Online gambling = a mugs game...

 

Did u put barriers in place to prevent you from gambling or was willpower enough for you?

 

Regards

 

BM

[Guest Radgie]

Well,

 

I might as well join the ex-gambler crew 'cause that's exactly what got me into the payday loan mess!

 

Nice to know there's people here who've also suffered the same. Never again shall i borrow a pound to gamble

[Welshy27]

At first I used a software programme which blocked all gambling related sites and content. It was so sensitive that it even blocked innocent stuff like news stories about gambling etc. My parents set the password so I couldn't get into it. It definitely helped in getting me out of the mindset of gambling. In the last two months, I have uninstalled the software to see if I can go without and so far so good - no temptation at all.

[Guest Radgie]

Guys,

 

I was wondering what are the actual contact details for making a complaint to the OFT and Trading Standards?

 

Never got round to reporting a few of these payday loan companies so want to do so.

[renegadeimp]

Only report the ones you have genuine problems with. It's not wise to just blindly report a bunch.

[Guest Radgie]

That's what i intend to do.

 

Some of them made my life hell for weeks so it's only right i highlight what they did and the struggles i had.

Edited September 19, 2012 by Radgie

[renegadeimp]

http://www.oft.gov.uk/contactus#named4

[Guest Radgie]

Thanks.

[Guest Radgie]

Just a quick question.

 

I'm in the process of gathering emails/letters to confirm my account has been settled and their is no outstanding sums owed

 

Would it be a good idea to request a statement of account from each payday lender as extra security just in case something was to crop up further down the line?

 

I believe i am entitled to request a CCA and statement of account?

 

Thanks.

[renegadeimp]

You can do, yes.

[Shaunieboy]

Nice to see this thread. I'm just starting the process and it's good to see it's not impossible. I shudder to think how much interest I've paid over the last three years, and I'm starting to get control again. Fingers crossed I can break free of the payday loan hell soon!

[Guest Radgie]

Nice to see this thread. I'm just starting the process and it's good to see it's not impossible. I shudder to think how much interest I've paid over the last three years, and I'm starting to get control again. Fingers crossed I can break free of the payday loan hell soon!

 

It certainly gives ya a boost when you start to get rid of them!

 

Am doing some negotiating with QuickQuid and i might be able to start 2013 payday-free!