Payday Loan Problems

dmr282

Hi guys. Was wondering if anyone could help me out with some advice or something, please? I am currently self-employed working for my uncle and about 9 months ago I took out a Payday Loan with Wonga to see my through to my next payday (every 2 weeks).

Anyway, I paid that loan back eventually and took another out when work had slowed down a bit. I couldn't pay Wonga so I took a loan with QuickQuid to pay it back. 2 months later I was finding myself extending the loans until the following month and getting more and more fees and charges. Eventually I ended up trying for a PDL with Purple Payday and all seemed to go through ok. Except, they signed me up with a different PDL company - !!!!!!!!!!!!! (pay back over 5 months, £68 per month for a £120 loan!!!)

Now I find myself with hardly any work because it is ALWAYS slow in Jan/Feb and a total of about £500 to pay back in the next couple of weeks.

I have £118 due out of my account tomorrow, but no money in there to pay it (until cheque clears next week) so I just had to take yet ANOTHER pdl with !!!!!!!!!!!!! to pay tomorrow's payment

This has all spiralled out of control and I cannot, repeat, cannot ask my parents for loans because they would kick me out knowing I've been doing this

Is there anywhere I can go, or anything I can do about this? I know i messed up big time and it's my responsibility, but i'm getting a bit desperate now

Thanks

dmr282

Is "LS" a term not allowed around here?

Enfieldian

Lending Stream?

MrRedundant

You have to be worried about anyone referring to lending streams when they have no funds to repay. PDL are not the answer. come clean and sort it with one company rather than using different PDL companies to pay off another.

dmr282

MrRedundant wrote: »

You have to be worried about anyone referring to lending streams when they have no funds to repay. PDL are not the answer. come clean and sort it with one company rather than using different PDL companies to pay off another.

I know they are not the answer but I was roped into the loan with Lending Stream after applying with PurplePD.

Come clean and sort it with one company, you say? That's the reason I was asking for advice. Where and who do I go to? What do I say? In fact, don't even bother replying if it's another sarcastic response because i'm fed up with people like you trolling message boards and forums all day long. Just because you've probably sorted all your finance problems and got your house in order, dont mean we all have!

@Enfield...I typed it all as one word but it auto-changed to "!!!!!!!!!"

littleowl

I am sorry I don't have the experience to offer any suggestions but someone knowledgeable will be along soon to help you. Please don't be put off by negative comments such as those above.

ViolaLass

dmr282 wrote: »

I know they are not the answer but I was roped into the loan with Lending Stream after applying with PurplePD.

Come clean and sort it with one company, you say? That's the reason I was asking for advice. Where and who do I go to? What do I say? In fact, don't even bother replying if it's another sarcastic response because i'm fed up with people like you trolling message boards and forums all day long. Just because you've probably sorted all your finance problems and got your house in order, dont mean we all have!

Just because someone gives you a straight forward answer that you may not like, doesn't mean they were being sarcastic and there's really no need to be rude to them.

ebayqueen_2

Hi there

Have you approached your bank for an overdraft facility. If that isn't possible, please talk to your mother. I am sure she will help you.

Hope this helps.

God bless

dmr282

ebayqueen wrote: »

Hi there

Have you approached your bank for an overdraft facility. If that isn't possible, please talk to your mother. I am sure she will help you.

Hope this helps.

God bless

Hi thanks for the reply. I already have a £200 O/D setup with my bank but this has been maxed out since I first got it two years ago. I spoke to them the other day but they will not increase the amount because I am self-employed and basically, not guaranteed an income.

As for my mum, i'm seriously not even going there lol. My parents always help me out but if they find out i've not been telling the truth (not lying, just not telling truth) then i'll get kicked out anyway (or fall out with them, etc)

Thanks for the suggestions though (and everyone else that replied)

and to Mr.R, i am sorry. Just felt like you were playing the role of Captain Hindsight for a minute (South Park/YouTube if you aint got a clue what im on about lol)

Mags_cat

It might be an idea to post an SOA - see the link in the post here on the DebtFree Wanabee board.

Lots of very experienced people over there, many of them having gone through exactly this situation - they will heklp if they can.

Emmzi

what do you have that you can sell/ take to cash convertors? consoles, games, watch, PC?