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hi please can anyone give me some advice i have contacted 3 payday lenders(ferratum uk,cfo lending,mr lender) regarding my financial situation with a repayment plan.2 of them have replied but they require me to fill out a income & expenditure form.do i have to fill these out ? not sure what to do any advice please :sad:

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I am trying to set up a payment plan with Mr Lender and they have not responded to me at all and one of my lenders Peachy have told me they will only except a rollover!

 

What I have done since and this is very important that you do the same thing is to contact your bank and cancel the continuous payment authority's on your account with each lender, if you dont you are basically giving them an open chequebook to your account and they will raid it! My next course of action is to send them both a complaint letter sticking to my guns and offering them a sensible but reasonable amount. I dont think they can legally expect you to fill out an I&E but if you do ensure it meets your requirements.

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http://www.consumeractiongroup.co.uk/forum/showthread.php?396982-New-payday-loan-survival-guide-by-mike-dailly-govan-law-centre.

 

Read this, I found it very useful and it is template I am going to use to tackle Mr Lender, as they rolled over my account and did not at any point check the affordibility.

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Hi can anyone give me some kind of letter I can send them ? also can anyone tell me regarding filling out a income & expenditure form ?

 

Hi Rob0708

I have seen your posts in a few places on the payday loan forums.And have answered a few of them.

I feel you are worried.

Perhaps finding it difficult to work out what to write or how to fill in a budget form.

I will try to help you a little more.If you have any problems after filling in or difficulties,just let us know.

If after filling this in and sending the letter you still have difficulties with the lender tell us.Then we will get to grips with them.

You did not tell me how you contacted the lenders about your repayment offers.Phone,email,letter,never mind .Let us move on.

 

 

Cancel the CPAs do you know how to.

Then send budget and letter to them

 

1-- http://www.nationaldebtline.co.u k/en...dget-sheet.pdf

 

 

2-

Ask your creditors to accept a token payment or no payment on your debts

 

1 High Street,

Newtown,

Kent

R21 4RH

 

June 28, 2006

The Loan Company

Company House,

Church Street,

Newtown,

Kent,

R1 7HG

 

Dear Sir/Madam

 

Re Account No/Reference No:− 4563210025897412

 

Since making that above agreement with you, my circumstances have changed.

 

I cannot now afford to the agreed monthly payments because ... [your paragraph added here]

 

I enclose a Personal Budget sheet which shows my total income from all sources, and the total outgoings of my household. As you can see i have no money left to make offers of payment to my creditors.

 

In view of my circumstances, would you please accept a token payment of £(your figure) per month at present to be reviewed in 3 months. If interestlink3.gif or other charges are being added to the account, i would be grateful if you would freeze these so my debt does not increase.

 

Should my circumstances improve i will contact you again.

 

Thank you for your assistance. I look forward to hearing from you as soon as possible.

 

Yours faithfully

Mr A N Other

 

If you go down this route,if the payday loanslink3.gif company still will not accept your repayment plan there are others we can send.

Cancel the CPA(continuous payment authority) and then send the letter.

Do you know now how to cancel a CPA.-just checking.

 

As i do not trust payday lenders this could be the best thing to do.

Till sorted out.Otherwise your your bank account will be hoovered out.

Cancel the CPAs.

Then you will be back in control.

 

I know Rob0708,you have read The payday loan survival guide by Mike Dailly but will put it on for others.

Here is some more info to go through

And of course.Mike Daillys Payday Loan Survival Guide.

How to tackle payday lenders: GLC's new payday loan Survival Guide

http://www.consumeractiongroup.c o.uk...van-law-centre.

 

The advice is in the guides.

But a letter to take to take to your bank to cancel the Continuous Payment Authorities In a mo

 

The advice is in the guides.

But a letter to take to take to your bank to cancel the Continuous Payment Authorities

Hi, affixed letter - either hand in to the bank in person (take another copy along and get them to sign to say they've received a copy) or send by recorded delivery.

 

paperclip.png Attached Files

Credit to Ellenn for this

Tawnyowl.

 

 

Edited by tawnyowl
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