The Money Shop, Advice needed

Debt_Doll

Hi

I wonder if anyone can give me any useful advice please?

What it is is that I have got a £250 loan with the money store (they have got 5 of my cheques for £50 each) and I am due to rollover this wednesday but the problem is is that I cant roll it over or have them trying to cash the cheques cos money wont be available till the 24th of this month. I did have the money to roll it over til this morning when my mum said she needed money desparately and obviously I helped her out but now she cant pay me back till 24th and I have asked everyone I can think of but everyone is in same boat of being broke.

I was going to go and see them tomorrow and explain the situation but I have a feeling they aren't going to be happy especially as it was only a month ago I was saying I can't wait to pay the loan off entirely and never use it again (the reply was a very unhappy worker saying I was a good customer and could continue to use their service for as long as I wanted but she had a right face on her)

Anyway does anyone have any ideas on how to approach this please as I have not incurred bank charges in over a year and dont really want to start now plus I cant get a payday loan to cover it

Fiddlestick

Debt_Doll wrote: »

I was going to go and see them tomorrow and explain the situation but I have a feeling they aren't going to be happy especially as it was only a month ago I was saying I can't wait to pay the loan off entirely and never use it again

You could ask if they would consider not cashing the cheques untilo the next day and explain the situation, but as you say I wouldn't expect them to be all that sympathetic.

Debt_Doll

:mad:


Well it is my own stupid fault for getting involved with these. I went down to my local store today and explained my situation and got told there is nothing they can do until I go into debt with them then they will set up a repayment plan.

I went to my bank and they said I have to put £50 in my bank today for them to cancel the cheques (£10 per cheque) but as I explained if I had any money whatsoever we wouldnt be having the conversation.

So the situation is now that the money store will charge me £25 per cheque then set up a repayment plan while the bank will charge me £20 per cheque so in total I will be paying £225 but it is a lesson learnt for me to not get involved with payday loans again

whichwhydoIturn

I know that it is a hard lesson learnt but you have learnt from it & wont do that again:eek:.Could you ask the bank for an overdraft, a temp one just to cover the cheques? just a thought

Debt_Doll

Unfortunately not Which as my credit rating doesn't improve till later on this year when a CCJ comes off file so am just going to have to put up with it and not be so stupid on future.

Thank you anyway