Wonga/Payday Express - Why don't they play ball?

michael1983l

BoGoF wrote: »

Well from your posts you still come across as the 'victim' still trying to get back at them robbing bast**rds. Peoples profiles and other posts often give the game away......

Anyways, your last post, "there appears to be clear motives for wanting their client to accrue late payment charges et al?".....again back in your court, what did you do to ensure you paid on time. It's just a simple of case of having the money in your account when you said you would pay them, no?

What did I do... this isn't about me. This is about the whole system. I am dealing with my debts as I have already stated. This country must be full of complete idiots then because 100,000s of people are stuck in a payday loan situation that they are struggling to control. What problem.. there is no problem here.

BoGoF

I prefer this guys approach to PDL's

https://forums.moneysavingexpert.com/discussion/3759299

No blame, no "mis sold loan"....."hands up it was my fault"

Mara69

michael1983l wrote: »

I think you will find that any creditor accepts that having a TV, TV License, damn even a basic sky subscription is an acceptable form of basic requirement. You may agree or disagree with this but it is what the creditors allow households when negotiating a method of reypayment in terms of what they can afford.

Missing the point again Michael. No wonder you're in such dire financial straits!

Pay day loans have their place in our society. All people need to do is understand a few basic rules of the pay day loan.

1) Do not borrow more than you can afford to pay back
2) Borrow for as short a term as possible
3) Only borrow if you are sure that repaying it will not put you back in the position of needing another loan
4) Be absolutely sure you NEED the money
5) Do not roll the loan over
6) Do not try and wriggle out of paying

All basic stuff.

BoGoF

michael1983l wrote: »

I think you will find that any creditor accepts that having a TV, TV License, damn even a basic sky subscription is an acceptable form of basic requirement. You may agree or disagree with this but it is what the creditors allow households when negotiating a method of reypayment in terms of what they can afford.

£12 odd a month for tv licencse
£15 a month for basic sky

If you have a PDL you cannot afford to pay then you cannot afford these either.

michael1983l

Mara69 wrote: »

Missing the point again Michael. No wonder you're in such dire financial straits!

Pay day loans have their place in our society. All people need to do is understand a few basic rules of the pay day loan.

1) Do not borrow more than you can afford to pay back
2) Borrow for as short a term as possible
3) Only borrow if you are sure that repaying it will not put you back in the position of needing another loan
4) Be absolutely sure you NEED the money
5) Do not roll the loan over
6) Do not try and wriggle out of paying

All basic stuff.

No you are missing the point. For most a payday loan is a last resort so most of your points above go out of the window in a last resort situation. In my opinion anybody that takes out a payday loan that is not in a dire financial situation needs their bumps feeling. Why pay 3000% apr when you can dip into your savings or get an overdraft?

The whole market is set up to prey on the desperate, needy and ill educated. That is blatently obvious by their marketing. I'm off to bed, got work in the morning and just finished a 14 hour shift. Goodnight.

michael1983l

BoGoF wrote: »

£12 odd a month for tv licencse
£15 a month for basic sky

If you have a PDL you cannot afford to pay then you cannot afford these either.

Wrong, a payday loan is a non priority debt, those you have listed are indeed priority debts. Non priority debt is the lowest priority as is accepted by every creditor that exists in this country.

BoGoF

Oh well, if it's a priority debt then you gotta have them then - is that what you're saying.

Like I said earlier it's all about decisions, either you make sacrifices or you try and borrow your way out.......every PDL customer's choice.....

Mara69

michael1983l wrote: »

No you are missing the point. For most a payday loan is a last resort so most of your points above go out of the window in a last resort situation. In my opinion anybody that takes out a payday loan that is not in a dire financial situation needs their bumps feeling. Why pay 3000% apr when you can dip into your savings or get an overdraft?

The whole market is set up to prey on the desperate, needy and ill educated. That is blatently obvious by their marketing. I'm off to bed, got work in the morning and just finished a 14 hour shift. Goodnight.

A pay day loan is supposed to be a very short term solution to an immediate need. If they are used correctly they work well. If people are too stupid to realise this, well you can't legislate for stupid people. Besides which, if people didn't use pay day loans they'd use loan sharks - and they'll break your legs if you don't pay up. CCJ v broken legs. I know which I'd prefer if push came to shove.

A 14 hour shift that includes posting on MSE multiple times since 5.45! Nice work if you can get it.

michael1983l wrote: »

Wrong, a payday loan is a non priority debt, those you have listed are indeed priority debts. Non priority debt is the lowest priority as is accepted by every creditor that exists in this country.

A TV licence and Sky are not priority debt. Admittedly, nor is a pay day loan. In fact, if you don't owe on your TV licence or Sky, they're not debt at all!! Rent, mortgage, secured loan, council tax, service charges...they are priority payments and/or debts.

You and I will never see eye to eye so yes, best put this one to bed.

Good luck with all your debt and give the pay day loans a miss eh?

BoGoF

I think I'm in the same boat as Mara69.

FWIW my opinion is that the vast majority of PDL seekers are not prepared to sacrifice their standard of living and "make do".

Just take a look at some of the SOA's on the DFW board. Pleading poverty but with mobile phone contracts, most expensive sky package, holiday fund etc. When the advice is give them up - it's "Oh, the OH needs his SkySports". There's always a justification to keep them.

Apples2

michael1983l wrote: »

:rotfl:
You know nothing about me or my situation which is blatently obvious by the fact it is 5 years since I served last.

Just going by your own profile, the one which you wrote.

Besides the point anyway, there are more than enough Forces charities who would have helped guide and advise you, serving or veteran, for free.

I can't help but feel that if the clocks were turned back, you would have done exactly the same thing.