Ugh! Payday Loan Companies and other debts

Flash-bang

Hi,
I'm new here, although I have lurked for a while. I am determined to get things sorted out starting this year. OH and I have cleared a huge amount in CTax arrears (very stupid to get into arrears in the first place - but all up to date now) in the past year, so it is now time to sort out our other debts.

We have done the CCCS debt remedy which suggests a DMP and I am gathering the paperwork at the moment. It is a relief and I have been opening envelopes and looking forward to the post arriving (certainly a new experience).

What prompted our LBM :eek: was a catalogue of mini-disasters - OH getting stranded in Scotland in December (lots of extra expenses), being talked into an expensive family Xmas trip earlier in the year that we couldn't get out of, tax for my car being due, OH ripping his only work suit and to top it all a fraud of about £700 on our bank account.

Stupidly, OH and I had been using payday loans to fill the gaps. We decided that it was carp(!) living like this. I spoke to my payday loan company who agreed a reduced payment - I gave them my new card details (the original one had been cancelled due to the fraud) and authorised a payment of £30 and agreed to call at the end of the month. So far so good, but then the barstewards :mad: took an extra £152 as well. I called them and they were totally unhelful saying they could take whatever payments they liked and that I would not get a refund - even though an arrangement was in place and backed up with notes on their system! So beware!

On the plus side, being faced with a rather large unauthorised overdraft that has to be cleared in full when our pay goes in, this has prompted a flurry of budgeting and contacting CCCS - so not all bad.

eyeopener2

Usual stuff with Payday Loan companys, treat them with the disdain they dieserve.

Are you out of the clutches of Payday idiots now? All cleared?

If so, in one way, it's a blessing in disguise. I've finally finished paying all mine off after 14 months!

Good luck with the DMP, they do work and they do put your mind at rest. You may have a rocky ride at first with all the letters etc but it will settle down.

E2

saltnvinegar

Flash-bang wrote: »

I spoke to my payday loan company who agreed a reduced payment - I gave them my new card details (the original one had been cancelled due to the fraud) and authorised a payment of £30 and agreed to call at the end of the month. So far so good, but then the barstewards :mad: took an extra £152 as well. I called them and they were totally unhelful saying they could take whatever payments they liked and that I would not get a refund - even though an arrangement was in place and backed up with notes on their system! So beware!

Hi Flash-bang

You may be interested in a thread I started on this very subject and I have linked to your post as yet another example of this dubious practice from payday loan companies.

Dealing with payday loan companies

I can only strongly urge you to write a letter of complaint to the OFT and trading standards about this. Although they won't be able to help you directly I know that they are collating information on this practice.

Good luck on sorting things out, you are definately moving in the right direction!

Best

SnV

Flash-bang

Thanks to all,

Not cleared yet but they hopefully can't take any more. I'm going to write to the OFT and TS about it - I was particularly narked as I had kept them up to date with the situation, trying to be sensible and reasonable - fat lot of good that did me!

However, they will have to accept what the DMP offers, which won't be much and will certainly be less than I would have agreed - the ironic thing is that it is their actions that finally pushed us towards the DMP. (Reason to be cheerful :rotfl:)

RAS

have you actually read snv's thread on payday laon companies and doen what is suggested? Otherwise you are extremely vulnerable. NEVER ever pay a creditor on a card or by DD. Use standing orders.

Flash-bang

Hi Ras,
I have started working my way through the thread I wish I had seen it before all this. They only had my card details - which has now been cancelled. If they do somehow manage to take any payment there is not a huge amount left owing (especially after the £180 they took this month) so although it would be very tight this month it would not prevent us paying our priority bills. Worst case, they will have been paid off before we start the DMP and I will have to eat instant noodles for a month .

I'm kicking myself over the whole thing but there is no point getting mired in self pity - I've been a prat and have to face the consequences.