extreme help needed please read

waterboy2

hi i hope someone could give me some much needed advice.i am currently on a dmp with payplan(have been for a few years)everything has been going smoothly and creditors have lost interest in us(no letters/phone calls etc)unlike when we first went on a dmp (court appearance/abusive phone calls nasty letters)the usual stuff that you face on a dmp.anyway about 6 mnths ago i nearly ripped 2 fingers of my hand(washing up long story)anyway severed tendons and physio.so was off work a while(im a postman).so we went down the road of payday loans (bad move i know but still had to pay mortgage and bills etc).we have kept up all repayments up to now but our next payment is 6th january which we wont have.we currently owe around £1200 including the interest to three companies.this is causing more worry and stress than when i started on the dmp.the dmp was for £42000.what i need to know is would payplan go through this with me or contact the companies involved?
i know we made a big mistake in getting these loans but they were needed at the time.this situation is really getting me down so not sleeping at night/suicidal thoughts etc.we also have two kids ages 12/9.also as foot note with these payday loans we have been living on around £30 a week for about 2 months now not including gas electric/food etc.please could someone help.thank you

BlushingRose

Firstly, take a breath and try and stay calm.

please don't think that taking your life will help the situation for your children and/or partner - it won't.

Have you actually spoken to Payplan about this? Do they know about your accident and that you've been unable to work for a while?

waterboy2

hi payplan have not been informed.i was waiting for tomorrow as my salary would be going into my bank and my mortgage is due(this is up to date)as i think the payday companies try to take money out of your account so i guess we will have to change banks again.btw im not trying to dodge out of paying the money back but i am scared of telephoning the companies involved to sort out a repayment plan.

immoral_angeluk

Ok, first, you need to speak to Payplan. They're likely to have a 'hardship' team (Who deal with more vulnerable clients) that you can talk to about the situation as it's likely they will include the payday loans in the DMP.
Most definitely change you bank account AS SOON as your wages have hit your bank account. If you delay they may have taken the money before you get chance.
Payday loans are not the answer, and neither is suicide. Speak to payplan and if they aren't sympathetic, speak to one of the other debt advice agencies such a CCCS, national debtline or CAB.

BlushingRose

If it were me, I would ring Payplan asap and explain to them exactly what's happened. The pay-day loans can be added to the DMP, I believe, and then you'd be able to pay them off at a rate you can afford (you know how it works). If Payplan don't know about it, they can't help you.

I agree that changing banks is a good idea as it will stop the pay-day companies taking money from you.

I'm sure someone else will be along soon to give you more advice, this is just personal opinion on my part atm

waterboy2

thank you for taking the time to post:)
will telephone payplan tomorrow/problem is i have probably run out of safe banks to use.

waterboy2

thanx blushingrose.

kittiej

OK so you have made the mistake of taking out credit whilst on a DMP which is against 'the rules' of a DMP.

You would have been better off asking for a payment break with your mortgage and reducing your DMP payment until you were back in work - for future reference

Are both you and your OH names on the DMP? I was thinking maybe if not your OH could get advice from another source to negotiate with the PDL companies or she could negotiate herself.

I don't think PP will want to handle your DMP if you tell them - unfortunately you've broken the rules and really you must tell them.

It would have been better to have come here to ask what would be the best thing to do before taking these loans out as there might have been another way around your problem.

If you let PP know please tell us what they say as it could help others.

Edit

There is a DMP support thread on here, you might get good advice if you ask on there?

immoral_angeluk

kittiej wrote: »

OK so you have made the mistake of taking out credit whilst on a DMP which is against 'the rules' of a DMP.

You would have been better off asking for a payment break with your mortgage and reducing your DMP payment until you were back in work - for future reference

Are both you and your OH names on the DMP? I was thinking maybe if not your OH could get advice from another source to negotiate with the PDL companies or she could negotiate herself.

I don't think PP will want to handle your DMP if you tell them - unfortunately you've broken the rules and really you must tell them.

It would have been better to have come here to ask what would be the best thing to do before taking these loans out as there might have been another way around your problem.

If you let PP know please tell us what they say as it could help others.

Payplan aren't heartless. YES the OP has broken the rules, but they will review it on a case by case basis. If he'd taken out credit to fund a lifestyle he couldn't afford, and wasn't serious about tackling his debts then I'd agree with you. Having a reduction in income due to an accident and also feeling deep remorse and shame for it is another thing entirely.

kittiej

Yes and my point was to have asked for help before taking the dreaded loans out - there are sometimes other options which are better for OP or anyone else experiencing difficulties especially with the economy we have to deal with atm.

This is why I asked OP to report back to help others too.

immoral_angeluk

kittiej wrote: »

Yes and my point was to have asked for help before taking the dreaded loans out - there are sometimes other options which are better for OP or anyone else experiencing difficulties especially with the economy we have to deal with atm.

Well exactly, I totally agree with you, but sometimes people do things they regret when utterly desperate. Payplan will realise that as I'm sure the OP won't be the first or last person in that situation so they will hopefully be sympathetic.
If not, worst case scenario is find a different free advice/DMP provider.