Payday mess and solution maybe

Super_Ram

Ok so I have had a reply of someone form Wage Day Advance advising me before they can consider a payment plan they need me to fill out my income/Expenditure on a for they have sent me.

Do I fill this out and send it back beofre doing anything else?

Also I have not made any of the Loan companies aware of each others debt so do I keep it like that or let them know I am going to be paying other payday debts as well

Also is there ant tips on filling these out so I dont trip up and they try and fleece me for more than I can afford as I have noticed the form doesnt include basic things like food etc

RAS

Super_Ram wrote: »

Also is there ant tips on filling these out so I dont trip up and they try and fleece me for more than I can afford as I have noticed the form doesnt include basic things like food etc

What form??????????

Super_Ram

The form they have sent me, they have sent me a word document which asks to fill out Income, Expenditure, Priorty Debts, non Priorty debt and then amount of offer for each non priorty debt I fill in

RAS

Super_Ram wrote: »

The form they have sent me, they have sent me a word document which asks to fill out Income, Expenditure, Priorty Debts, non Priorty debt and then amount of offer for each non priorty debt I fill in

ignore, ignore.

Use the proper MSE one here http://www.makesenseofcards.com/soacalc.html

Super_Ram

Thanks RAS,

I have used this and calculated my incomings and outgoings and it deduces how much I can offer all three Paydays.

As said before this will now show each company I send it to that I have 2 other paydays apart form theres, is this advisable to make them aware of my other paydays?

Super_Ram

This is how my SOA worked out

Household Information

Number of adults in household 1
Number of children in household
Number of cars owned 1

Monthly Income & Expense Summary

Monthly Budget SummaryAmount(£)

Total monthly income 1,250
Monthly expenses (incl. HP & secured loans) 939
Available for unsecured debt repayments 311

Monthly Income & Expense Details

IncomeAmount(£)

Monthly income after tax 1250
Partners monthly income 0
Benefits 0
Other income 0
Total monthly income 1250

ExpensesAmount(£)

Rent 490
Council tax 80
Electricity 20
Gas 20
Water Rates 15
Mobile phone 25
Satellite/Cable TV 20
Internet services 10
Groceries etc. 75
Clothing 5
Car expenses (fuel, tax, insurance etc.) 165
Pet Insurance/Vet bills 14

Total monthly expenses 939

Debt Details & Offer to Creditors

Unsecured Debt DescriptionDebt(£) Offer(£)

Pounds Till Payday 630.41 97.1
Wage Day Advance 625 96.27
Wonga 763.7 117.63

Unsecured Debt totals 2019.11 311

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

fatbelly

£75 for food for a month? Is that realistic?

Useful thread here:

Dealing with Payday loans companies

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.

josie31

Hi Super-Ram just been reading your post with interest - have just posted a similar one myself as doing the same thing as you and trying to break this payday loan cycle once and for all! Good Luck and be interested to see how you get on.