re-paying payday loans

[awj136]

I am asking for advice regarding my situation, which I accept are entirely my own doing ;

a couple of years ago, I set up a DMP to repay my debts, and all is going fine with the repayments ;

unfortunately, within the last 2 years, I have succumbed to the temptation of 3 separate pay day loans, mainly due to a change in employment resulting in a decrease in wages ;

I took the loans out with the intention of repaying each in full, but circumstances have dictated that I've now reached a position where my next re-payment exceeds my take home pay !

naturally, I need to do something about my position ;

the next payments are due on or around 27/08/13 ;

my intentions are ;

- to inform my bank to stop taking CPA payments to the loan companies (by phone, e-mail and letter)

- inform each payday company of the situation (by phone, e-mail and letter) requesting them to stop charging me any further interests on the amount's due, and offering a monthly re-payment (based on an income/expenditure calculation) resulting eventually in the full re-payment of all loans ;

I would be grateful for advice from anyone who has experience of such situations ; I am aware that payday loan companies are notorious for their lack of co-operation in such matters, but I believe that I have reached the point of no return ;

for the record, the companies involved are Wonga, Pounds to Pocket, and quid.co.uk

[yesilgozlerim]

sounds like you are doing the right thing.

[KoyaAi]

I guess there is no better way around this than what you already mentioned. Update us on this matter so we can see if there is anything else we can help you with.

[manontheweb]

I would not rely on the bank cancelling CPA's. For extra safety I would open a new basic bank account and have wages paid into that.

[citizenB]

awj, how are you doing with this ?