Got myself in a hole with payday loans....

paulc19

Thankyou WD and others for helpful posts and your templates. All companies are being far from co-operative. two have acknowledged my request, two haven't. Both that have, have said they want bank statements to prove my budgeting statement. Is this standard and reasonable do you think? Payday express say unless i have had a salary cut or ill health they can't do anything, I have been diagnosed with depression but they state they want a doctor's note. Again I feel this is too much! The other two keep adding on horrific interest sums and makes me feel like giving up, what hope have I of clearing If they keep adding on these huge sums. Mini Credit are the worst, complete and utter tyrants. I only borrowed £80.50 and now they say i owe £230. I will keep going down the process but am becoming increasingly weary and disillusioned.

Welshdebtor

paulc19 wrote: »

Thankyou WD and others for helpful posts and your templates. All companies are being far from co-operative. two have acknowledged my request, two haven't. Both that have, have said they want bank statements to prove my budgeting statement. Is this standard and reasonable do you think? Payday express say unless i have had a salary cut or ill health they can't do anything, I have been diagnosed with depression but they state they want a doctor's note. Again I feel this is too much! The other two keep adding on horrific interest sums and makes me feel like giving up, what hope have I of clearing If they keep adding on these huge sums. Mini Credit are the worst, complete and utter tyrants. I only borrowed £80.50 and now they say i owe £230. I will keep going down the process but am becoming increasingly weary and disillusioned.

Only a judge in court can demand to see bank statements.

Do you know what they are querying on your budgeting statement?

facingmydebts

I feel your pain, i really do as I'm in the same situation at the moment. Stupidly borrowed from payday companies to pay my rent arrears and once the interest spirals out of control you are stuffed

My situation is made worse in that I'm already in a DMP which was clearing a chunk of my debts but left me so skint in the process hence stupidly taking out the Payday loans rather than admitting to my DMP provider that I needed to reduce my payments.

I feel that I've really stuffed up and let myself down.

What feedback have you had from the payday loan companies regarding your token payments ?

FMD x

paulc19

Welshdebtor wrote: »

Only a judge in court can demand to see bank statements.

Do you know what they are querying on your budgeting statement?

They haven't been specific. Just said they would not consider an arrangement without two months bank statements or in PDE case that or a doctor's certificate, but not sure doctor would provide one as i am not signed off work or anything.

paulc19

facingmydebts wrote: »

I feel your pain, i really do as I'm in the same situation at the moment. Stupidly borrowed from payday companies to pay my rent arrears and once the interest spirals out of control you are stuffed

My situation is made worse in that I'm already in a DMP which was clearing a chunk of my debts but left me so skint in the process hence stupidly taking out the Payday loans rather than admitting to my DMP provider that I needed to reduce my payments.

I feel that I've really stuffed up and let myself down.

What feedback have you had from the payday loan companies regarding your token payments ?

FMD x

I'm angry with myself too. I was so stupid to take these debts out but they've had enough interest off me already, i just want to pay back what i owe and have done with it. I reckon I could clear them in 6 months but if all i'm going to be doing is touchin interest i'm not really inclined to live so restrictively.

For me, because i got that fresh start when i went bankrupt i really can't deal with this hapenning all over again, it's a nightmare. I wake up every morning feeling devestated and don't want to face anything.

The only other option i have is go to my Dad cap in hand (something i promised i wouldn't do) and then pay him back monthly. He would be seriously disappointed in me though. The only positive is I wouldn't have to pay him interest.

Creditors wise - 2 of them deny receiving any correspondence, the other two are asking for proof of incomings and outgoings.

Welshdebtor

You could use Royal Mail's Recorded Signed For service, this should provide proof if letters are received in the future. Though this is not a 100% reliable service, as sometimes no signature is taken from the receiver.

I would ask the ones asking for bank statements, what exactly they need further proof of or what part of your budget are they querying. Also mention you are under no obligation to send the requested bank statements, so refuse to send them (unless you are of course happy to send them).

Do you have a CAB near by that you could arrange an appointment with for 1-1 advice?

Or check out http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6 loads of sample letters etc on there.

Just remember you are not alone, god this website would be alot quieter if you were alone