PayDay Loans - what happens now?

Paul_london_2

Hi all,

I have read many of the stories on here relating to Payday loans and would be greatful if anyone could offer me any advice.

I have a number of Payday Loans which i have taken out over the last year. I know many people will have lots to say about how stupid i have been and how i should not have used them in the first place, and i will agree with 100% of you.

Although there is nothing i can do to change this so i am here really looking for advice from other people who have taken the step of changing bank accounts to help break the cycle of payday loans.

I am not trying to avoid paying these back and i will be phoning the companies involved as soon as they open on the day my loans were due to be repaid. I have a number of other payday loans which will be repaid in full before payday but the ones below will be impossible for me to pay in full. I will have about £300 left to service these debts per month.

I owe £970 to Quickquid and £737 to Payday Uk.

I called Quickquid and they offered me a Pre default payment plan of £326 over three months, i also phone Payday Uk and advised them i was in finacial difficulty who i must say were very unhelpful and refused any sort of agreement untill i had defaulted on the payment. They proceeded to close my account and inform me they will be taking the full amount on payday.

Sorry to string this out but i am worried about how the companies will react, i.e. calling me all day at work being my main worry and therefore ask for any advice from people who have defaulted on payday loans and let me know what type of payment plans the companies above were able to accept. Do they still call you daily when you have a repayment plan in place????

I do have other debts in the form of a loan and credit cards but these have all accepted payment plans and have been very helpful.

So if you have any stories about repayment plans with payday loans please let me know.

Thanks