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PLEASE help ... Cash Choice Payday loan) Nightmare
money_madness_2
Posts: 7 Forumite
I have signed up for a DMP with payplan and am about to degfault on my loans on Monday which should be my payday. Bit nervous about it, but glad to finally be sorting it.
However tonight i was looking through all the emails I've had over the months and I have realised that I have had one PayDay loan for 14 months. i borrowed £400 and pay £100 interest every month. so they have had a whopping £1400 from me!!!!!!!!
I cannot pay them another penny. PLEASE someone help with an idea. Surely they must now me some money as that cannot be seen as a reasonable interest payment. I have cancelled my bank account and so do you think they were just taking money until I said something. Do you think they will just write it off and finish it?
However tonight i was looking through all the emails I've had over the months and I have realised that I have had one PayDay loan for 14 months. i borrowed £400 and pay £100 interest every month. so they have had a whopping £1400 from me!!!!!!!!
I cannot pay them another penny. PLEASE someone help with an idea. Surely they must now me some money as that cannot be seen as a reasonable interest payment. I have cancelled my bank account and so do you think they were just taking money until I said something. Do you think they will just write it off and finish it?
DMP Newbie
Start Date: March 2011
Total debt: £8000
Creditors: NatWest, Welcome Finance, Capital One, PayDay Loans, PayDay Express, Quick Quid, Wage Day Advance, Cash Choice
0
Comments
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Hi money madness
You need to contact this payday loan company and try to arange to pay it off either in full or in monthly payments, otherwise they will keep charging you interest untill you clear the debt.
Good luck0
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