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Payday loan hell
Comments
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WestWalesWannabee wrote: »Well no reputable banks or loan companies will lend to me. Even Provident who are very high interest won't lend to me. I am in serious debt and have defaulted on everything which is why I now can't obtain credit elsewhere.
Try not to borrow anymore money because all that is doing is moving it from one place to another.I am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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My employers aren't able to help unfortunately and they frown on bad financial management so that isn't an option. In my company if you get declared bankrupt, they sack you!
Friends can't help as none of them earn much and only a couple know about my situation. I am so embarassed that I can't tell many people. Would rather keep it to myself. As for Ebay. Already done that and put the proceeds to debts prior to the payday loan hell.0 -
You are definitely going in the right direction. You need to start look at your budget as a whole, at least then you will no how much you can offer as a monthly payment and also what a long term solution will be rather than living from month to month.I am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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WestWalesWannabee wrote: »My employers aren't able to help unfortunately and they frown on bad financial management so that isn't an option. In my company if you get declared bankrupt, they sack you!
Friends can't help as none of them earn much and only a couple know about my situation. I am so embarassed that I can't tell many people. Would rather keep it to myself. As for Ebay. Already done that and put the proceeds to debts prior to the payday loan hell.
hi can you open a basic bank account somewhers else and start again?i know these payday loans take your bank account details but is thers any way you could contact your bank and cancel this payment to them then ring them up and tell them your situation and offer them something ? im not encouraging you to not pay them its just that you are digging a deaper hole every month,i know how you feel as ive been there my self and its an awful miserable life worrying all the time about your debts,you need a clean start and if you can open anew account start again and offer a little to each debt
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What I am thinking is maybe you could get a credit card. One with a low credit limit, and a high interest rate. Withdraw cash on it to pay off your payday loan and get them off your back for good. Make sure you can use it to withdraw cash before you apply for it, and make sure you use it only for this. If they give you a credit limit of more than you need, still only use what you need.
I know a lot of people reading this will be horrified. But I think it is a realistic option. credit cards are usually easier to get than overdrafts/loans. There are some out there specially designed for people with bad credit. You will be able to pay if off slower than the payday loan, and the interest won't be that bad compared to the payday loan.
This one maybe? http://www.aquacard.co.uk/
It's not ideal but it will break the cycle of payday loans.0 -
My bank account is one where I have no overdraft or borrowings with them which is great. The payday loan people have my bank details (not a cheque) and so take the money automatically every month.0
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Tried aqua card previously. Been declined....0
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WestWalesWannabee wrote: »My bank account is one where I have no overdraft or borrowings with them which is great. The payday loan people have my bank details (not a cheque) and so take the money automatically every month.
Is it a direct debit? If so ask your bank to cancel this asapI am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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It's an agreement that you have to sign every time you take one out. They have your bank details. I shouldn't cancel this surely? I'd be in serious trouble!0
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WestWalesWannabee wrote: »It's an agreement that you have to sign every time you take one out. They have your bank details. I shouldn't cancel this surely? I'd be in serious trouble!
If you can’t afford the payment and the payment goes through this will leave you short for other things such as Mortgage/rent, council tax, food etc. The implications of not paying these are a lot more severe. If you keep using credit to pay credit – at some point further down the line you will not have any access to credit and the amount you owe will be more than you do now and you will be in even more difficulties. This is the reason you need to look and address the debt that you have at the moment.
The creditors can not have what you can’t afford to pay them.I am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.
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