Payday Loan Advice

purple81_2

Hi all,

I have a mountain of debt but until now had been paying all my minimum payments and rolling over payday loans but I have finally had my lightbulb moment and realised that I can't go on like this.

I met with my local citizens advice office and they have directed me to CCCS who I am contacting today but in the meantime they gave me a template letter for the payday loan companies to ask for interest to be frozen and offer token payments until I set up my DMP.

After reading a few threads on here on payday loans I noticed a lot of advice about people reporting their debit cards as lost or stolen in order to stop payments being taken and I spoke to citizens advice about this, they agreed that I should cancel my card to stop the balances being taken from my card while I set up repayment plans.

I reported my card as stolen so that it was completely cancelled but does anyone know if the payday loan companies can still take money from my account??? My salary had already gone to the bank so I wasn't able to set up a new account in time for this month and I'm now a bit worried that Wonga will clear my account on Monday (my repayment date with them).

I am in no way trying to avoid paying these debts off but if I continue with rollovers I won't be able to afford my rent this month and I don't want to default on that. I don't like the idea of defaulting on my payday loans either but according to citizens advice and threads in here it seems to be the only way to get these companies to enter repayment arrangements.

All advice welcome

FOURCANDLES_2

Hi I am first to say I do not know what this can be like but people really should stay away from this type of loan as it clearly cripples people and they should be banned.

KingElvis

In certain cases, these companies seem to get payment even when the card is reported lost or stolen.

You can bet your last sheckle they'll be doing all they can to clear you out. If they don't get to it on Monday make sure you take it all out and for the love of God, get it paid into another account like yesterday.....

These people are the bottom of a very deep and scummy barrel, bottom of the bottom feeders and will try every trick in the book even what looks like theft sometimes....