payday loans and dmp fears

desparate

I have a dmp with payplan for just over 2 years £27000 to pay.

I am feeling so desparate as i have fallen into the payday loan trap with over 8 lenders and owe over £4000 on them now - it is just wiping my slary every month rolling them over. I am scared to contact payplan in case they wont deal with me anymore.

I feel so useless and stressed. i can't eat or sleep for worrying. I know now i have been stupid and i just dont know if anyone will help me now.

I am so exhausted and just want to sort it out and get back on track. can anyone help me?

cabbage

if payplan won't help, try CCCS or CAB. Maybe a DMP is not for you and you should look at other options? burying your head in the sand and borrowing more money is a recipe for disaster. The best thing you can do is look at your spending, post a SOA on here and get advice. Unless you address your spending, no dmp or debt solution will help. Its time for your lightbulb moment!

desparate

I know I need to sort it out - I was managing fine with the dmp until I became ill and had some issues with my current salary - I just panicked and now realise I should have just contacted payplan and asked what to do. i had 2 years with no problems then the last 6 months have been a nightmare by taking these loans. I know that i can afford to live if I incorporate into my plan but I am just feeling so ashamed and embarrassed that I got myself into this situation. I just wanted to see if anyone else had ever got into a situation like this?

sickasachip13

Hi desperate, I don't really have any advice other than, yes, it wasn't the best decision to to have made but EVERYONE b@lls things up every now and then.

What happens next is the important thing and there's no point in beating yourself up forever about it. It is what it is and nothing is going to change it.

Get onto Payplan and tell them whats happened. Yes, it might be a bit embarrassing but I'm willing to bet they've heard a lot worse.

What you're worrying about now can be sorted out, you will feel so much better once you've got the initial contact with Payplan over and done with.

Best of luck.

desparate

I will contact them. I appreciate you not judging me as it has put me off other forums by people being incredibly harsh. I know it is my debt but people do not realise there are often very upsetting circumstances that lead to this sort of thing. I am determined to get it paid and do the right thing.

Tixy

Contact them, explain, apologise and see what they say. They may allow you to continue your DMP - but if they don't then don't panic because you could either try one of the charities such as CCCS or CAB or even consider doing a self-managed DMP.

If you want to speak to them anonymously at first you could PM lizzy the payplan rep on MSE for her opinion. But whatever she says you will still need to tell them, as you obviously cannot continue as your are. Payplan company representative

(MSE has its share of harsh posters like any forum, but just focus on those that are offering your advice).

sickasachip13

Hey desperate, hang on in there - you're not the first and you won't be the last. You will feel so much better after you contact them because then you'll know your way forward. Let us know how you get on.

desparate

thanks guys for not being judgemental. I have sent lizzie a private message just now so hopefully she will come back to me then i can get the courage to speak to my account manager at payplan. Can anyone advise best course of action to stop payment being taken by wonga - there is not enough money in my account - should I have my card cancelled? I also found a letter template on national debtline that askes them to give me 30 days to seek financial advise so they dont hound me while I sort myself out. your help would be much appreciated. I feel really scared. unable to eat and sleep properly.

Payplan_company_representative

hi desparate, I have just come across this thread. I don't seem to have received your pm. If you would like to email me lizzy.snow@payplan.com I will more than happily go through everything with you.

desparate

Hi Lizzy, I just came off the phone with my case worker, he was fantastic! I cant tell you how helpful he was amid my tears

he has incorporated my payday loans into a new revised dmp and sending out details to all providers. i have spokent with bank and stopped my card details/cancelled any direct debits etc and they were helful too barring all transactions on my card - I have paid all priority debts so hopefully I can start to make a fresh start and get debt free. I know there is a bit of a long road with the payday loan companies but I feel like with payplans help I have a good chance of osrting this mess out

Tixy

Thats really good news, glad they could help you out.
Also thanks for coming back and updating us, its handy to know that they will sometimes do this as you are not the first and won't be the last to come on here with the same problem.

Hope the new DMP works out well for you (and don't do it again of course!:))