WAGEDAY ADVANCE payday loans-HELP ME!!

magicmonkey666

Hello, very stupidly as i have come to now relalise i took out a payday loan thinking it was helping me out of a very sticky rent paying situation,and for my daughters 2nd birthday as she didnt get to have a 1st birthday as my nan was dying in hospital. it helped and i got out of trouble with the landlord, then i found i got stuck taking out loan after loan for the last year as each month left me short thus needing a new loan each month. EVERY month i have paid back on time and in full. That was until i lost my job through mental health issues, i emailed them immediately to explain my situation and that i'd like to offer £10 a week payments until it has been cleared as i DID owe the money that wasnt a problem but i DIDNT say when i'd start making the repayments. They replied that i needed to fill out an expenditure form and so i replied BUT didnt send them bank statements to support the fact my child benefits now have been reduced by £75 a week so am surviving on £30 a week at the moment, well, i was at the time, weeks passed and i have heard NOTHING from WAGEDAY ADVANCE. Today i checked my bank to ensure my benefit had been paid in, and noticed £10 of it had been taken as a debit card transaction. I phoned bank to find out who and they said wageday advance. I contacted wageday by email but am waiting for a reply, surely if no repayment agreement has been agreed between both parties and no notification of when the payments will start from has been received, this is wrong? to just take money out peoples accounts without warning them of this and without accepting the offer?
i've been through the whole self hatred for taking these loans out and to anyone contemplating taking a payday loan DONT!!! It's a trap, you get stuck in a cycle and its hard to break out of it. can anyone tell me if they've broken any laws by taking the money without consent or written repayment agreement?
many thanks

Tixy

If you are in arrears with a Payday loan company can and will take money out of your account whenever they try and find there is money in the account.
Worth a read of this thread - Dealing with Payday Loan Companies about opening up a new bank account to have your income/benefits paid into.

[Deleted User]

I imagine that you consented to it in the original agreement. Have you checked?

magicmonkey666

Thank you kindly, but the info on there didnt really relate to my situation, it onyl explained how they work and so i do apologise but thank you for your reply.

Trajal

I had to use these guys once myself. Actually I found them quite helpful - payday loans are a dreadful thing in general though and should be avoided wherever possible.

I believe that you do have to set up a continuous payment authority with them, and so yes they are perfectly entitled to take that money from your debit card whenever they want as long as the loan is outstanding.

I do strongly sympathise with you, but the truth is that you didn't need to take out so large a loan for a 2 year old's birthday. I have no idea what happened when I was 2, I imagine you don't either, so why waste money and get yourself into worse financial stress than necessary for that?

That doesn't help you I'm afraid, however reading up on that thread of how to deal with payday loan companies *will* help. You know you've made a mistake now, which is great, I wish you the best of luck in sorting out your priorities in future.

Tixy

magicmonkey666 wrote: »

Thank you kindly, but the info on there didnt really relate to my situation, it onyl explained how they work and so i do apologise but thank you for your reply.

Sorry the link was to explain that yes they can and will continue to deduct payments using your debit card details whilst ever you are in arrears. You will often find that payday loan companies will try to take a payment each day until they actually find a day when a payment goes through.

No matter that they have not agreed to your proposed repayment plan the T&C on these loans almost always allows for them to keep debiting your bank card with monies owed to them, and in many cases the T&Cs also allow for them to try to take money direct from the bank account if the bank card is cancelled.

So no they haven't broken any laws because the loan agreement will have been your consent to this.

The other reason I linked to that thread is that I thought it might be useful to you so that you don't keep losing your benefits to pay the loan, and the charges that will be mounting up.

magicmonkey666

i'd like to point out that the first loan was NOT purely for my daughters birthday! just a small percentage to take her to birdworld. it was to keep a roof over my daughters head. I really appreciate your replies but if you actually cannot advise me and just want to tell me how bad a person i am can you please save your time, i am in difficulty and need genuine HELP. i do not mean to appear rude but i am very stressed out. thank u to ZX81 i shall have a look

KingElvis

What ever you do, make sure you don't put all your money in the account these vermin have the details for, they will clear you out in a second.

Start a new bank account and then arrange to pay off what you owe over a time period you can afford.

Good luck.

fozmcfc

I do sympathise with you, but I think you will find you have agreed to it.

Rather than wasting time/energy, if I was you I would

A/ Check the entitled to website and see if you are getting all monies you are entitled to.

B/ Make sure that you leave the minimum in the bank for them to take. Possibly even open up another bank account.

C/ Speak to CAB

D/ Get rid of the payday loan ASAP if that means £10 a week repayment and you spending bear minimum on other items, then it is better then leaving it hanging over you.

Good Luck with whatever you decide.

Boozer

It seems to me that you have actually gotten what you requested, although they have not confirmed this with you, but you asked to pay 10 pound and that is what they have taken.

Trajal

magicmonkey666 wrote: »

i'd like to point out that the first loan was NOT purely for my daughters birthday! just a small percentage to take her to birdworld. it was to keep a roof over my daughters head. I really appreciate your replies but if you actually cannot advise me and just want to tell me how bad a person i am can you please save your time, i am in difficulty and need genuine HELP. i do not mean to appear rude but i am very stressed out. thank u to ZX81 i shall have a look

I appreciate what you're saying and it is a very stressful time. As you can imagine I have been in a similiar position. I was commenting because you'd said about your daughters birthday - nothing else. If it wasn't much money then that's that.

Definitely take the advice about a different bank entirely though, because this payday loan company can legally drain your existing account of any amount of money that is in there up to and including the overall debt.

You may also want to take a look at the 'debt free wannabe' boards for advice on how to change budgeting, make savings and work towards getting rid of the debt.

I do apologise that you felt I was being rude, it wasn't ever my intention, I just despaired a little when I read about a child's birthday and had horrible visions of expensive presents etc paid for by a payday loan! That not being the case I take it back and wish you good luck in being debt free, and in paying off your obligations.