Payday Loan Crisis

RobEssex

Hello,

Sorry to trouble you, i'm just after some advice, basically i'm in so much trouble with payday loans I have outstanding loans with about 12 companys - i need some serious advice, i'm not sure where to go from here? i've never had credit befor this and i dont think i ever will again - unless its a debt consolidation loan to get rid of these.

i'd be grateful for any advice anyone has to offer? or from any people who have been in the same boat.

Thank you.

crazyguy

Something creek without a paddle,

Can you get a loan from your bank and clear them all, if not close the account and set up a new account and either go to the CCCS to help with a payment plan or attempt it yourself which will be quite tricky considering they are payday lenders and not normaly renowed for assisting those with issues trying to pay it back.

nomoneytoday

RobEssex wrote: »

unless its a debt consolidation loan to get rid of these.

Sorry, but that doesn't solve the underlying issue.

IMHO you need to make an appointment at the Citizens advise or similar asap to arrange a plan of action and to see if you can solve the underlying issue.
Good luck

RobEssex

crazyguy wrote: »

Something creek without a paddle,

Can you get a loan from your bank and clear them all, if not close the account and set up a new account and either go to the CCCS to help with a payment plan or attempt it yourself which will be quite tricky considering they are payday lenders and not normaly renowed for assisting those with issues trying to pay it back.

Thanks for the response.

I doubt my bank will give me a loan as i applied for one a few months ago and they declined.

So perhaps if I make a new bank account and get my wages etc sent to that account - and clear the balance of my exisiting bank account? in the meantime getting a DMP to help me with the payday loans - would this be a good way to go forward?

DCFC79

You have loans with 12 PDL, how come so many ?

crazyguy

RobEssex wrote: »

Thanks for the response.

I doubt my bank will give me a loan as i applied for one a few months ago and they declined.

So perhaps if I make a new bank account and get my wages etc sent to that account - and clear the balance of my exisiting bank account? in the meantime getting a DMP to help me with the payday loans - would this be a good way to go forward?

If you cannot borrow the amount then yes its your only course of action here, do not use anyone other than the 2 charity dmp's though, and make sure you close the account pronto or they will start trying to take the money out.

Mags_cat

You should probably go and have a read of this thread - it's got lots of info for people stuck in this downward spiral.

Hope you can find something helpful in it.

RobEssex

Thanks for your help and support guys , shall let you know how it goes and to answer the question about why so many ? Is that I took one out then realised I couldn't last through the next month so took another out etc etc etc , I know its stupid but I was going through a stupid period , now I'm paying major consequences

lilnatalie20

iv been in the same situation and still trying to resolve it it takes alot of quiet weekends and gritting your teeth and baring it. what i did was contacted each group seperatly explaining my situation and setting up payment plans and learning from it. It takes a long time but is well worth it , and after time you will feel a massive weight off your shoulders.

I hope this helps. if not with your problems maybe make you feel a wee bit better that your not alone

RichGold

RobEssex wrote: »

i've never had credit befor this and i dont think i ever will again - unless its a debt consolidation loan to get rid of these.

George_Osborne_on_3rd_October_2011,_&#64 wrote: »

You can't borrow your way out of debt.

Very true George.

michael1983l

Is this a troll thread, I don't think there are actually 12 payday lenders out there that actually lend money rather than try and sell you a "membership" to obtain loans

Quickquid
Wonga
Unclebuck
Mini Credit
Micro Credit
safe Loans
Pounds2Payday
Toothfairy finance
Speedy Loans
Txt a loan
Payday UK
Payday Express

Wow I was wrong, it looks like you have the full set.