It's all about to hit the fan! Please help!

mourning33

Hi,

Thanks for all your support on my last thread where i sucessfully started a payment plan with Wonga with your help.

Now. Im in a slight prediciment..

I had a payment plan to pay off around £800 to wonga which worked out at £184ppm and the interest is frozen. Since i set up this plan i have now moved back to my home town and got a new job. The new job pays on the 1st of each month whereas the payment plan is set for the 14th of each month which is when i got paid in my previous job.

I decided that if i allocated the money at the beginning of the month it'd be fine.. So, Since i left my house rental from where i was, i was expecting a payment within the last few days as i was due around £400 for my deposit to back. Which the letting agency organised.. However, I gave them bank details to an account which i closed within the last few days! Meaning my bank balance is currently sitting over my agreed overdraft limit already getting the natwest daily fee!

The main concern is that i have paid 2 months of this plan.. and if i fail to stick to the plan they will add all interest back onto the account which will be just over £900 (more than what it was to start with) despite the fact i've paid £368 over the last 2 months!

Not only that i also have a QQ loan due out tomorrow...
for 250...

I am pannicking big time.. The bank said it can take up to 10 working days for the payment to bounce back to the letting agency and i'm stuck with an extra 400 quid interest and a daily overdraft fee..

I don't have family that can help me out so i need your suggestions in what to do.. Do i let them both go DCA?

Its my own silly fault.. But would really appreciate some help.

Thanks.

miggy

Just keeping this bumped and hoping someone more knowledgeable than I am comes along, but in the meantime - I would say keep all parties informed so they know the money is there, and will be paid.

mourning33

Thats the problem... the money won't be there until either my next paydate (1st) or until i recieve the deposit back.. but its up to 10 working days till the bank notify them that its bounced.

MoneyMax

mourning33 wrote: »

Thats the problem... the money won't be there until either my next paydate (1st) or until i recieve the deposit back.. but its up to 10 working days till the bank notify them that its bounced.

100% contact the companies you are supposed to be paying and explain! Communication is the key here. It might still be bad but it will be so so much worse if you dont inform them.

Good Luck xx

mourning33

I will stay in touch with them.. Thanks!

Any suggestions about how to go about this?

MoneyMax

mourning33 wrote: »

I will stay in touch with them.. Thanks!

Any suggestions about how to go about this?

Best to phone them then write to them to back it up, take note of the name of the person you talk to and what time you call and tell them you will be following up with a letter, quote the name of the person you talk to and the time of the call in the letter. If you are completely honest with them then you are doing all you can to sort it out, they cant really expect anything more from you.

It's horrible having to deal with this stuff and you just feel like putting it off!! Please dont x

Let us know how you get on