£2800 payday loan debt

antony85

yes thats correct, any stated at 0% are actually correct.

had some annoying phone calls today ! the money shop must of rang me atleast 5 times and sent me 2 texts !

i rang them back and spoke to someone at head office, heres how it went

IDIOT ON THE OTHER END : - afternoon money shop, idiot speaking
ME - you rang me ?

(details exchanged)

IDIOT ON THE OTHER END : -its regarding you bounced chequed of £100 and charge of £25 which remains unpaid
ME- what do you propose i do?
IDIOT ON THE OTHER END : - pay it ?
ME- well thats not an option, i dont have £125
IDIOT ON THE OTHER END : - well what do you have?
ME- try -£1119
IDIOT ON THE OTHER END : -well when are you paid
ME - saturday,
IDIOT ON THE OTHER END : -what can you pay on saturday because our system is trying to debit your account daily for the outstanding amount
ME - has it not been successful ? shame? told you i had no money
IDIOT ON THE OTHER END : -so can you not offer anything?
ME - i can offer £30 this week only, but cant say for next week, i dont know where il stand.
IDIOT ON THE OTHER END : -can i have your card number so i can take payment please?
ME - you serious? you have my card number, and as you know it aint going to pay out
IDIOT ON THE OTHER END : -do you not have any other cards
ME- yes thanks,
IDIOT ON THE OTHER END : -can you not pay with one of those
ME- no
IDIOT ON THE OTHER END : -why not?
ME- because as soon as i give you my details you'll hammer the card like you are doing with the one you have now,
IDIOT ON THE OTHER END : -we wouldnt do that its not our policy
ME- then why are you doing it now?
IDIOT ON THE OTHER END : -er er well how do you propose to pay ? because card is how we guarantee our payment
ME - card isnt proven payment as you can tell my other card wont give you a bean ! so im sticking to old fashion cash i will pay instore on saturday
IDIOT ON THE OTHER END : - how can you guarantee this,?
ME - i cant, but youll have to take my word for it
IDIOT ON THE OTHER END : -ok well ill pas it onto your account manager which is ben when can he contact you
ME - after 6


still waiting for the call now !

cash generator also banked 3 of my cheques today, £120 each, theyll show up on my account in a few days then will probably be bounced .
woman in the shop said theyll get there money if it bounces or not, if it bounces the debt will go to transax, and she said they wont ring or anything, they come straight to my house to sort out what is owed. so im really worried now, but i really couldnt afford to roll them again. has anyone ever had any dealing with cashgenerator/transax, is there any truth in that? or do you think it was kind of a threat to get me to pay up instore or roll them over ?

if they do come to the door what can i do? how do i prove i dont own anything in the house, as it all belongs to my parents.

also has anyone every looked at the legality of payday loans, the aprs are so high !! and charges are immense!


also i have £400 at cash convertors, but i know i have no signed contract with them, is there anything i can do here, as they will just try cash the cheques, and cause me more bank charges.


one more thing, id like to continue paying all 0% at the amounts already written, also would like no to include marshall ward or additions,
would be grateful if you do do a recalculation for me georgeUK too mind boggling for me ! also natwest has increased To £1319.11 couldnt say which of the other companies its no longer owed to. not until next week when they all update their systems, because ive lost count of which companies have which cheque numbers, and ofcour my bank dont show who its paid to unless i pay £10 per cheque !


sorry its long people, but feel free to throw in any suggestions or critism, anyone who wants to comment its all my fault, yes i agree but dont need your input as this is something i already know.

MrsTinks

They can turn up at your house certainly... and you tell them to go away or you will call the police. They have LESS rights to be on your land than your local paperboy... If they refuse to leave call the police.
DO NOT OPEN THE DOOR TO THEM!

The only people that have more rights are COURT appointed Bailifs (it's a bit more complex than that but for these purposes it'll do ) but debt collection agencies can hoof it. Unless they have gotten a CC against you (takes a while!) then no they have no rights and the lady was trying to scare you.

Thinkgs you can't afford... £45 on a mobile... go PAYG - you can't afford £45 on mobile right now and can you find cheaper broadband? £30 is not exactly cheap!

GeorgeUK

Slow down a little.

If anyone comes to your door they will ahve as much legal power to enter the property or remove goods as the paperboy - none.

Only a bailiff, appointed by the COURT, would be able to do that and even then only if they have gained access to the property and completed a walking possession order.

Unfortunately there isn't a cap on the amount of APR that can be charged.
These loans while extremely expensive are legal.

As i said before, the best way to deal with all of this is in writing. Imform them by letter that you wish only to be contacted via letter and not by phone. Make them a payment offer and then even if they don't agree to it, make that payment so that if it does go to court, you can show it is a case of can't pay rather than won't pay.

I'll take a look at the calculations but i'll amend it so that you are paying only on your 640 wage and rounding up a little for the 0% accounts.

SUESMITH_2

DO NOT OPEN THE DOOR TO THEM! also i know it's not very likely in this weather but make sure any window they could reach is shut and back door locked.

APR on some of those is totally shocking. no use to your financial situation but i would write to my mp and raise it with them, they have to write back and i have always found mine helpful

antony85

MrsTine wrote: »

They can turn up at your house certainly... and you tell them to go away or you will call the police. They have LESS rights to be on your land than your local paperboy... If they refuse to leave call the police.
DO NOT OPEN THE DOOR TO THEM!

The only people that have more rights are COURT appointed Bailifs (it's a bit more complex than that but for these purposes it'll do ) but debt collection agencies can hoof it. Unless they have gotten a CC against you (takes a while!) then no they have no rights and the lady was trying to scare you.

Thinkgs you can't afford... £45 on a mobile... go PAYG - you can't afford £45 on mobile right now and can you find cheaper broadband? £30 is not exactly cheap!

cant the £45 is a contract will reduce at end of march to £30 then remains £30 until dec 10, and the £30 is mobile broadband contracted until oct 09

GeorgeUK

Ant, this isn't going to work.

Your expenditure is 475.30, making the payment to only the 0% accounts is 187.80
This means that you are already spending 663.10 which is more than your basic wage.

You can't afford these payments to the creditors especially if you intend dealing with the other debts.

HTP . . . . . . . . . . 375 . . . 25 . . . . . 6.67%
Empire Stores . . . . 497 . . . 52.44 . . . 10.55%
Littlewoods . . . . . 585 . . . 35 . . . . . . 5.98%
Great Universal . . . 464 . . . 35.36 . . . . 7.62%
Cash Convertors . . 400 . . . 40 . . . . . .10.00%
You can only afford to pay 3% to each debt each month and the above is how much you are paying to the ones that have stopped the interest.

Do any of the unsecured debts you've listed include the secured or HP debt?

Are you able to get a 2nd job at all? Can't really think of how else to tackle this as you owe 5,436 and not the 2,800 we originally thought.

Not sure where you live, but could a Debt Relief Order be an option? Never really looked at them but as your debt is less that 15k, it may be an option or at least something to look into.

antony85

the debt relief order says they want £90 upfront before your application is even considered, this will be a waste of £90 if they decide i can afford to pay my debts.

GeorgeUK

I can't believe that CCCS and Payplan turned you away with you having 5.5k debts and only an income of 640.

I can't see how they can say you can afford to pay your debts, but i would definately ask whether this is an option for you and the liklihood of it being accepted.

The alternative is to try to arrange payments of 3% of the amount currently owed and just keep making those payments.

antony85

GeorgeUK wrote: »

I can't believe that CCCS and Payplan turned you away with you having 5.5k debts and only an income of 640.

I can't see how they can say you can afford to pay your debts, but i would definately ask whether this is an option for you and the liklihood of it being accepted.

The alternative is to try to arrange payments of 3% of the amount currently owed and just keep making those payments.

re-read DRO i wouldnt be accepted. it sayd no more than £50 left after paying basic living expense, doesnt inlcude payments made to creditors

GeorgeUK

I saw that but if you are paying £100pm for food and £200pm for rent that wouldn't appear unreasonable. I did say i wasn't familiar with DRO's - was hoping it was an option though.

It looks like all you can do is write to each creditor and making an offer of paying the 3% while asking them to suspend interest and charges on the accounts.