They took my money without my say so.

Naf

There's threads on here about how to deal with payday loan companies, but it looks like they've taken matters into their own hands. Was £400 your total debt to them?

EchoFalls1982

no, My debt was below £400 last time I saw my account. They clearly added a lot of interest and there was another £150 pending to come out to! Do you think that there is anyway I will get this back? I have rent and stuff to pay!

esmerelda98

The best place for this post is the Debt-free wannabe board. Whilst Naf is valliantly trying to help you, I think his/her inexperience regarding this issue is shining through. How did this company get your card details? I suspect you gave it to them in order for them to take back agreed repayments from your account. When they tried on the agreed day you didn't have the money, they have tried again (as no doubt you gave them permission to) with more success.

Naf

Yeah, payday loans are little better than loan sharks, their interest and charges are incredibly high.
I take it this is the account you are still using?
To be honest, I don't think you stand much chance getting it back, not in the immediate future at least.
You might have to consider a Crisis Loan to pay your immediate food bills.
Contact your DMP and explain to them what has happened, perhaps they can talk to the company for you, might get further than you would.
And open a new account (usually best option if going onto DMP anyway), make sure all of your wages/benefits etc. go into the new account.

EchoFalls1982

Yeah, have a new bank account which I am going to use now. Already contacted the DMP. Had to leave a voice mail as they were closed. I have been up all night ringing and emailing places to see what I can do.
I still can't believe that something like this can happen. : (

grey_lady

Who is the dmp with?

I hope it's cccs or similar and not a company that's charging you.

EchoFalls1982

They do charge me-immediate finance-was with CCCS but lost job, couldn't afford payments etc

mummyplus3

You shouldnt be with anyone that charges you, your just making it worse! Please post on the debt free wannabe board and I would contact one of the free DMP providers today if you can, I happen to use payplan and think they are brilliant, but ask on the board and they will give you the best advice! x

Naf

As pointed out, this is how payday loans companies work. You gave them your account details (to pay into) and your card details (for them to take payment from when the loan was due). They have just done what you originally agreed really. Not all companies deal with DMP programs very well, payday loans especially as their business plan is based on charging exorbitant fees, and fighting tooth and nail to get every penny back.

Just_Plain_Jane

You might find this thread useful:

https://forums.moneysavingexpert.com/discussion/2735257

Read the OP; it explains how payday loans can continue to take money from your card even if you cancel it.