The money shop!

bally1208

Hi all

Sorry if im not posting this in the right section but didnt know where else to ask...Just like everybody else im in a mountain of debt at the moment, i am taking steps to try and sort this out. one of my main concerns at the moment is the dredded "money shop pay day loan" circle im stuck in...Owe them around £700 pounds but am having to extend each check every month because i dont have the money to pay the outstanding amount..Its costing £16 for every £100.

i have contatced the cccs who have just sent me an info pack with a template letter notifying of financial difficulties and an offer of a pro rata payment to send to each one of my creditors..

Was just wandering will i be able to send one of these to "the money shop"?
i mean are they regaurded the same as any other creditor?

Would they be willing to freeze the interest while i start making monthly payments to them....suposse im just asking if anybody else outhere has had dealings with them and what i can expect.....

would appreciate any views anybody has

queen_of_the_valley

Hi Bally,

Yes they will include Money Shop, I have just finished paying money shop off through my own DMP. And a great feeling it was too.

RAS

bally

You need to open a new bank account, and get your pay into this ASAP. Then close the other account before money shop present the next cheques.

After which they are just another creditor.

VanillaDelia

i have 2 payday loans on my DMP so yes thats fine to do. Stop any DD and close the bank account as stated above. I have an old bank account that I gave details for my payday loans, my next mission is to close the account before they try to put transactions through, although the account doesn't have an overdraft and no money in it lol.

bally1208

im not on a DMP at the moment have just been sent template letters fom cccs to send to creditors so will that still be ok..? will they still accept that?

also should i send the letter to there head office or just to my local branch?

did try opening an account with HSBC not long ago but they refused . am with barclays at the moment have been for last 10 yearsliving in my overdraft for the most part of it to....anybody know where else i might be able to open an account?

RAS

hi
you need a basic bank account, These are not credit checked and so you will not get refused.

ASAP.

VanillaDelia

Natwest step account, Halifax card cash, lloyds card cash, providing you have no debts with any of them.

dotstar24

RAS wrote: »

hi
you need a basic bank account, These are not credit checked and so you will not get refused.

ASAP.

I have poor credit and had real difficulty getting a basic bank account. In the end i had to get a card saving account with Nationwide (you can have stuff going in, but not out) and about a year after that they let me have a basic bank account. I was turned down by Barclays, Halifax, natwest. :rolleyes: and they do credit check you because they said there was something on experian that meant i was refused.