Digging out of the payday loan trap

Sassyloco

I should really try the online chat facility with them but so far they seem to be completely ignoring me! Good luck with the other three companies, you are doing the right thing and will feel so much better once payment plans are in place

x

Sassyloco

ooh my newbie status has gone :beer: (non alchoholic ofc )

tink28

Well they said that would accept a £20 payment this month but its not a payment plan, and collection procedures will still continue yaddi yaddi ya.....

JamesStanley

I just wanted to say how well you are all coping. I have been in the situation of having my whole wage go out every month on payday loans, and I really dug my head in the sand and didn't have a clue what to do.

I eventually managed to get it sorted, and I can tell you it is such a great feeling when you no longer owe them any money. Keep going, and keep strong, and the feeling you get when the last payment goes out is of pure elation!

All the best,

James

happy_bunny_2

Well done for staying firm They will put a default on your credit file, so keep a copy of everything you have sent and received. Don't know what payday loan companies are like for trying for a CCJ, but your offers seem reasonable and the fact they are not willing to negotiate will look bad on them should they try.

Good luck with getting this sorted.

HB

tink28 wrote: »

Hi Sassy - just an update from me:

Quikquid - arrrggghhhh are so annoying!! I sent them the email Friday, and had a response within about 2 hours rejecting my offer. Am now on the webchat thing... have offered £20 a month until end of Jan and then will review.... they came back with an offer of 4 x £220 installments :mad:. I just said I can't afford it - am waiting to see what they say about the £20 again now.

Have emailed the other 3 companies with offers so just wiating for a reply.

Well done on your updates

JamesWMH

Hi Sassyloco,

How's everything going with talking to the payday loan companies?

I'm extending my loan today, and then in the new year I'll try to arrange a payment plan (when hopefully I'll have started a better higher paid job)

Sassyloco

Hi JamesWMH,

All going well so far, have re-emailed Quickquid, PDE and WDA this morning with my offers, all others have accepted payment plans Am saving the payments I would be making to the above three so they can hopefully be paid off immediately if/when they go to DCA :cool:

Just to let you know, I have agreed a 12 month plan with Wonga of £74.20 per month which is much less than the £168.00+ they wanted in interest to extend. They accepted the plan after first email so it might be worth trying to negotiate with them sooner rather than later and save yourself some money this month Plus they are not adding charges to account so it's all going off the capital. If you roll over, the interest will obviously be back again next month.

Good luck

glasgowsaver2011

lesleyvhalifax wrote: »

you cant pay off wonga with a credit card i have already tried

Oh yes you can!!!!!!!!!!!!

Lofty132

Just read this thread and I am in a similar position, just got out of a toxic relationship and have all this to worry about on top of my emotional state, when I add my credit card on top the picture looks something like this:

Capital One - £1000
Wonga - £600
QuickQuid - £267
Cash Until Friday - £260
MiniCredit - £585
Capital Finance One - £765
Wage Day Advance - £390

I currently get paid weekly and last week I got paid £450 into my account, only for £420 to be taken immediately. I could probably sort this fairly quickly if I just didn't have all of the companies jumping on me at once (my own fault, I know!). I was thinking of moving my money to another account within my bank, but some of you seem to advise against this? Also my debit card chip was playing up last week so the bank ordered me a new one: does this mean no payments can be taken from it due to it being different details?

JamesWMH

glasgowsaver2011 wrote: »

Oh yes you can!!!!!!!!!!!!

How?

I looked on their website and it says you can't pay by credit card...