Help with debt!! 28 February 2011 at 8:37PM in Debt-free wannabe 4 replies 555 views

guitarman08

Hi, over the past 6 months i've been very silly with money!

I have amassed around £2000 in pay day loans from different company's over the past 6 months as with all pay day loans this need's to be paid at the end of the month. i've got to the stage that all i can afford to do is deffer the loans but when deffering the intrest rises and it builds up!

I dont have a clue what my options are if any! please help.

CH27

If you post your SOA people may be able to help you:)

Flash-bang

Hi,
Saltnvinegar has a very detailed and helpful thread about payday loan companies - well worth a read. Dealing with payday loan companies

guitarman08

Thanks, sorry im not sure i know what a SOA is !

Thanks for the link!

Flash-bang

A SOA is a statement of affairs, basically a breakdown of income, outgoings and debts. There is a link at the top of the thread list that tells newcomers what to do and there is also the budget planner which allows you to create a SOA. If you do one you will get lots of suggestions of where you can cut costs.