Payday Mess 3 January 2011 at 9:28PM edited 30 November -1 at 1:00AM in Loans 32 replies 4.5K views

Super_Ram

Ok so I have slightly adjusted my SOA and added a few in they did not have included which are essentials.

This has gone to Wage Day Advance so will wait and see what they say.

I have included my 2 other paydays on there to show how the debt payment money is being divided

Super_Ram

A few questions I actually have that are concerning me are

My Original Bank account know has no money and Bank card was reported as lost in public so need to block as could be used by someone else. I have also cancelled all Direct Debits and will monitor any that are setup again. I have also informed my bank I do not want Direct Debits setup for any of these companies.

1. However if they now try and put a debit through on my card details is there anychance it will try and take the money even though I have cancelled those card details. And if it does try and debit the account will it get declined like a normal debit transaction where no charges are applied to account or will my bank let it go through and go overdrawn causing charges.

2. If I do miss a direct debit being setup and they try and debit the account, even though I have informed the bank not to let these companies take the payment will I go overdrawn and again be responsible for the charges.

The reason I am asking is I am wondering I am better off to actually close the whole account down and oay off the £100 Overdraft even though cant really afford it but will gaurantee I cant get charged.

Super_Ram

Okay so some progress today

I forwarded my email onto Wage Day Advance with I/E again

I have had a reply now saying they are willing to accept my offer of a repayment plan for the next 3 months and then being reveiwed after that.

They said do they want me to take the payment directly using the card details they had(sneaky people) and I said no and can they forward me their bank details and I will send the payment via Standing order.

So hopefully success numer 1, so 2 to go

Super_Ram

Just to add is there anything i should make sure before starting this payment arrangement as in is interest frozen etc

CHR15

Just a word of caution.

Some of these companies will steam in and clear your account for as much as they can grab (up to the amount owed) as soon as they become aware you are having problems (it's all in the small print they can do this).

I don't know which companies in particualr do this but be on your guard.

pippitypip_2

OP sounds like you've handled this to a T and great advice on here so not much more I can add.

Don't forget to insist all writing is by email/ letter only and that anything other than that will be considered harassment.

hth and best of luck with getting back to normal and being rid of these loans.
pippitypip

Super_Ram

Ok so they have replied with the bank details but I have replied saying can I confirm by setting up this Payment plan that any further Interest is frozen and no payments will be taken from my original account by Direct debit or Debit card.

I have already reported card as lost in public and blocked and cleared my account of any money just incase they get sneaky

Super_Ram

I have now got a reply from then saying all Interest and fees will be froze and no payments taken aslong as the Payment arrangement is kept up

One down, Two to go

Super_Ram

Another question that has come to mind regarding the other paydays and them not getting back to me about a payment plan. I have seen on here some people regardless whether they have agreed a payplan or not start paying the monthly amount to the payday company. Now I can see the advantage to this as you are paying it off and if it takes 3 months to agree a payplan you have paid 3 months off the loan already.

However I am worried about this as if I start paying a certain amount to these other companies and have not got it in writing that Interest and Charges are frozen, then if they take that money plus keep charging Interest/Charges am I digging myself a hole as they can turn around and say they never agreed to a payplan or to freeze Interest/Charges and they hav enow got a good portion of the loan back.

My other option was to take this money I would of paid them had they agreed to a payplan and put it in savings and then once they agree to my terms I have this money saved up.

On top of that am I best to pay this lump sum form the off or stick to monthly payments and use the savings as a chunk payoff at the end. The reason I ask this is I dont want to agree say £100 a month and on the 2nd month say pay £200 and they question why I can pay more and try to argue I should be paying more every month.

jamesd

What you do in that case is send them a letter an a cheque with the letter offering them the terms you want to offer and the cheque use conditional on their acceptance of those terms. Chances are that they will take the money because some is better than none.