Newbie (sort of) Coming Out of the Debt closet

Tixy

If you feel you can manage to juggle your repayments and keep on with payday loans until your provi loans are clear then thats certainly one way to go, all be it an expensive one in terms of how much you will pay to the payday loan companies etc.

As an alternative have you considered defaulting on the loans, opening a new bank account and then entering a repayment plan to pay off your debts at a more manageable rate (either through a charity or by negotiating yourself?) This option would likely have a bigger impact on your credit file but it might be another option for you to consider if you feel you cannot go on as you are for the next few months - and might well end up a lot cheaper overall.

As others have suggested a statement of affairs might be a good idea, people might be able to suggest options/cost savings etc that would make these easier for you.

DorsetGirl_2

Good luck with paying off all those payday loans. They are a real nightmare.

I think what Tixy says is a good idea, if you feel like its all too much to manage, a DMP might be the way to go, although it will impact on your credit history it may make things easier for you in the long run. Just don't use a company that charges for this service when you can use one of the charities to help you.

Secretdebts

Hi guys. I'll post an SOA tonight as in on a 12 hour shift at work at the moment so using my phone to check in. All the credit cards are either maxed out or cancelled. If I'd have known about CCS and DMPs this time last year I'd have definitely gone for them but I feel like I'm finally getting to a stage where the worst is now and it's only up from here! In another two months the first of the provident loans will be gone which frees up £120 so we can afford min payments on the rest (I think) will check on SOA tonight.