Payday Loan Payments

NowWhat?

As payday lenders seem to be able to assign interest and charges on a whim what are the implications of paying small amounts every day by standing order?
You would have a record of all the payments but would their system be able to cope with it?

eeyore87

What would be the point?

KingElvis

Payday lenders are the the pinacle of expertise when it come to getting money from "awkward" accounts...guess it's becuase people who use them are also prone to "losing" their cards :rotfl:

Putting money into their account would be no problem but I fail to see what your intended endgame is?

CHR15

I think the OP is hoping that by paying 50p a day the interest due will reduce.

It's a fair assumption it is a fixed fee from date of issue so there would be no point, although the PDL company might think the borrower is some kind of lunatic so will reject any further applications.

[Deleted User]

CHR15 wrote: »

... the PDL company might think the borrower is some kind of lunatic ......

Is that not the general PDL customer profile?

KingElvis

Deleted_User wrote: »

Is that not the general PDL customer profile?

I've always beena attracted to the one called TXTLOAN, that combines mobiles phones, txt speak and rubbishy payday loans all in one small, yet compact, shyster loan nutshell.

Peelerfart

I'm a toothfairy man myself, it conjures up such a magical wonder
as in "I wonder where my money's gone?"