Taking the step off the payday loan roundabout

WELSHSTUD10

Hi guys got into a sticky situation i have 9 loans outstanding at moment, Started with one which led to another and another to pay off loans i couldnt really afford my own fault i now.
I have already defaulted on 5 these are

* Payday uk = original loan £410, was ment to repay £512 on 27th dec, Debt still stands at £512 no charges have been added since i defaulted

* 24/7 money box = original loan £100, was ment to repay £130 on 27th dec defaulted on this now owe £200

*Txt loan = Original loan £100, was ment to repay £110 on 27th dec defaulted on this now owe £200 and got fredricksons internation harrasing me daily for this

*mobilequid = Origianl loan amount £100 to reapy £112 on 27th dec defaulted on this now owe £220

*Wonga = Original loan amount £400 to repay £448 on january 1st defaulted on this now owe £624.73

The other four are all due on the 27th of this month and they are

*Prime payday/Tower Capital original loan £100. owe £124 on 27th jan

*Cash genie original loan £150. owe £195 on 27th jan

*1 month loan original loan £250, owe £325 on 27th jan

*swift sterling/northway/poundstillpayday original loan £200 owe £259.96 on 27th jan

No payment plans have been set up with any of these as of yet, I would say i have £200 a month to set up payment plans, can anyone advise me on which companies are easy to deal with and which ones are awkward and what you would offer each and over how long.

Also text loan debt agents Fredricksons international are harrasing me like mad where do i stand with them

Please help guys

WELSHSTUD10

Just worked it out the total value of loans taken was £1810

And now after intrest and charges i owe £2660.69 plus i going to get hit with more charges on the 27th when i default on the rest of them

WELSHSTUD10

When i took them out i had 2 incomes coming in as my partner was woring but due to circumstnces beyond our control and the economic climate he has now lost his job so is currently looking for work, he has had 3 interviews this week so we can only hope.

RAS

REad this thread and act. https://forums.moneysavingexpert.com/discussion/2735257

therealson

hi there welshstud10,
you really need to take stock of your situation, its seems your racking up needless defaults for very small amounts, this will cripple you credit score for
many years to come, if i where you id tackle each loan at a time, start with the ones you could pay off all at once, then move onto the the largers ones, and try to keep in contact with all these dubious lenders, do not use them as there very expensive and too easy to get, hope this helps

brendan

WELSHSTUD10

Why would i want to read about domestic abuse RAS ??

therealson?? my credit file ok at the moment only negative in there is a ccj from 5 years ago to northern rock and this has been settled as i did a ppi claim on the loan then paid off the ccj with the cash from ppi!

I thought that if a company dont credit check you then they cant mar your credit file as about 5 of the lenders above do not credit check,

Also where do i stand with them phoneing me at work as they all have my work number

WELSHSTUD10

bump bump bump

rising_from_the_ashes

The standard response to creditors calling you all the time would be to ignore/not answer the calls.

Unfortunately, you obviously can't do this if it's your work number that they have.

d17_2

Nasty!

I'd agree with therealson. Deal with the ones you can pay of in full and then move on to the bigger ones like paydayuk and wonga. This way you have less creditors to deal with.

I have paydayuk and wonga loans most months but fortunately I've managed not to default on them. These are the no1 thing I want to pay off and stop using. IMO they're great if u need a bit of extra cash for a week or so but not if you rely on the each month as I am atm.

Also have you looked at what you spent that £1810 on? Did u NEED to buy everything u did? Might help you avoid this situation again.

RAS

WELSHSTUD10 wrote: »

Why would i want to read about domestic abuse RAS ??

have edited and pointed to the correct thread now.

alanjamesbaker

Good Luck in dealing with 9 of them.

I'm just about to default on 3. I really can no longer afford to pay rollover/extension fees. Had one for almost 2 years, been paying £80 per month in extension fees on just that one.

Have you considered taking out a debt management plan? Are the payday loans your only unsecured debts?

I am feeling sick at the thought of having 3 payday loan companies on my back from 12th December (Default day)... I defaulted on one 2 years ago with QQ, They phoned me 3-4 times a day at home, on my mobile and at work. They wouldn't listen to anything I tried to tell them, they advised me that they were entitled to contact me whenever they liked to try and get payment out of me.

It was such a relief when they eventually sold the debt to a DCA, They took my Phone numbers off my file instantly and contacted me via letters ever since.

Anyway. Do these payday loan sharks have your work number? This afternoon I've sent an email to my 3 companies, Paydayexpress, poundstillpayday and wagedayadvance asking if they'll remove my work number from their system. I'm not in default with them yet, nor have they ever tried contacting me at work. I just could really do without them trying to contact me on that number. I just know my boss at work would flip if I was inundated with calls from these guys daily! It would be a weight lifted if these companies replied to me telling me that they've removed my work number from their system... But I'm not holding my breath.

My advise, stay in touch with them all, Ride it out and hope they are quiet speedy in passing the debts to a DCA... A lotb easier to deal with.

Good luck! Please let us know how you get on!;)