Payday loans

emmajh90

I really need some money to tide me over until pay day. I received a text guiding me to a website, pocketpayday.co.uk (text is from moneyoasis.co.uk). They say they'll lend me 200 and I pay back 250 on pay day. Has anyone had experience of these people?
Thanks

Browntoa

please don't use a payday loan company ......

Representative APR: 1734%


when do you get paid and can you not beg/borrow enough money until then ??

why £200 , do you have a bill to pay ?

emmajh90

Thanks for your reply. I have a payment to make as soon as possible (late council tax) and don't get paid until the 31st. I thought 250 for 200 quid seemed fair enough, but judging from your response it's a bad idea!

Browntoa

and its only get an online web form for contact, no phone number

suspect the "loan" will be via someone else

if its only one council tax payment you will get some snotty letters but doubt that they would do anything before the 31st

emmajh90

Ok thanks for your advice, I'll ignore their offer then.

McKneff

Do you have any family/friends you could borrow from.

Do yu have anything you could sell

Could you negotiate with the council to set up a payment plan.

Payday loans are notoriously slimy bar stewards

If you cant afford £200 this month, hwo are you going to afford £250 next month, its a slippery slope my friend.

emmajh90

Thanks, I'll sort something else out, I'm sure. I'm definitely persuaded against it!

opinions4u

Take a look at how you got here. Why are you short of cash? Could you have saved in advance to avoid the situation? What can you do to ensure the same situation doesn't happen in future?

I don't want you wasting money on pay day loans or bank charges. Take time to visit https://www.makesenseofcards.co.uk and fill in a statement of affairs. Then post the soa on the debt free wannabe part of this forum.

Bills are inevitable. Some you know exactly when they will hit. Others will happen, you just don't know when. Good budgeting deals with the first lot. A bit of prudent saving means you are prepared for the latter.

Good luck.

ajones28

These will just be a broker. There is only actually 6 Payday loan companies in the Uk, the rest are just brokers. If you really must get a payday loan try to only get the absolute minimum you need to get you through to pay day; and go direct through the loan company not through a broker otherwise you're obviously going to be paying their charges on top of the loan companies charges (just google 'payday loan companies ONLY, no brokers').

To be honest though you really are better off avoiding these people, once you get involved with them you are on a very slippery slope, believe me. So many people say they will only have one loan, pay it off then not have another. Unfortunately it really isn't that easy, as soon as you are back in the same position again next month - and you will be if you have to pay a big lump sum out to cover your first loan - you'll end up taking another one out. They will constantly pester you once they see you have paid the first one off. I've had payday loans in the past and receive at least 10 - 15 texts a day off brokers telling me I've been approved for loans. Best to avoid these people at all costs. Speak to your local council who sent your Council tax bill and explain the situation to them. As long as you make an arrangement to pay the bill off by a set date (perhaps in installments to make it easier for you to pay) they should be fine with you. As long as you acknowledge the debt and make arrangements to pay they should be fine.