payday loan help please!!!

Matt16v

chuckley wrote: »

does that work though? they take ur bank acc number aswell... can they just use that and sort code to take funds?! (sorry ive no idea)

Not if there's no money in there!

This is a solution, but it's not a very good one because before you know it you'll have bayliffs letters arriving at your house, and then not long after that you'll have 2 burly chaps and a van turn up at your house!

Call the companies up, tell them the situation (maybe leave out the gangster part, just say you cant pay) and try and work something out with them.

Speaking from experience here, hiding your head in the sand won't work for very long and will inevitably make things worse.

Matt16v

But, if your are for any reason planning on implenting that crazy assed plan (please don't though!!) make sure there is £0.00 in your account. Even if you have £0.01 in your account sometimes a transaction will still go through and then you'll have unauthorised borrowing charges on top on your loans to worry about!

Swiftman1

my advice would be to call the companies concerned and set-up payment programmes. i dont know how all of them work by i myself am a payday lender. our policy is that as long as a client speaks to us we dont mind setting up a plan. at the end of the day if it went to court and you made no effort and simply ignroed calls, the judge would rule in favour of them, but if you could demonstrate (through written proof) that you had tried to set-up plans, then it would be a different matter.

Payday loan companies such as ourselves cannot ask for payment in full if the client simply cannot afford it.And a payday loan company cannot take funds with just a sort code and account number, to clarify someone elses question.

Our main gripe as a lender is when people borrow and go straight into debt managment or an IVA etc... but thats another story.

Hope this helps :rolleyes:

exdebtcollector

Hi there,

what you should do is remove the funds from your account before they all get to them, trust me once they have taken it you wont get it back,

then phone or email each of them and be honest with them, let them know your situation.

as for calling you at work that can be see as harrasing you as if you keep getting calls then you might lose your job, you should set up a monthly payment plan with them all and let them know what your income is and what your outgoings are

RobertoMoir

Matt16v wrote: »

Not if there's no money in there!

This is a solution, but it's not a very good one because before you know it you'll have bayliffs letters arriving at your house, and then not long after that you'll have 2 burly chaps and a van turn up at your house!

Nonsense. Bailffs can't be sent out on a whim. The OP would need to be taken to court, have a CCJ granted against them, fail to keep up repayments at this point also, and so on before enforcement could happen.

Enfieldian

Contact them, in writing and by email.

Propose a REALISTIC payment plan, don't let them bully you into offering more than you can afford.

Get their account details and pay by online transfer or similar, that way you stay in control.

If the company won't negotiate (PoundsTillPayday & Quick Quid, for example) let them pass the case to their DCA and deal directly with them.

Good luck.

hotmamma

In response to swiftman, if you have a gripe with people being on dmp or iva maybe your company should do credit checks????I cant think why you wouldny, ay 30.00 per 100.00 interest!!!!!

Swiftman1

hotmamma wrote: »

In response to swiftman, if you have a gripe with people being on dmp or iva maybe your company should do credit checks????I cant think why you wouldny, ay 30.00 per 100.00 interest!!!!!

woooo hang on slow down, we do carry out credit checks. and i said that the gripe is people going into DMC's when they only just borrowed the money if someone extend their loan month on month and then go into debt management then its clear they have problems.

We get bank statements, payslips and credit search and ask the clients to sign a declaration confirming they are financially stable but nonetheless ive come on here to try and offer some realstice advice for dealing with pay day loan companies such as mine - not to argue

hotmamma

I apologise for my last comment, can i ask which company you work for?