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

michael1983l

CHR15 wrote: »

I don't think that is the case at all, remember, this is the loans forum, not the DFW.

Cuddling, hugging and supporting someone whilst they wallow in self pity blaming everyone else is not going to help anyone.

This original post has been answered, a few times, with good advice, but it has been dragged off on a tangent.
Dragged off by someone who simply blames every lender who was prepared to lend money.

The particular poster has had the correct advice and is working through his problems, with an end in sight (and good luck to him), but persists making lengthy posts blaming anyone/everyone for the fact that he has been forced to take the measures he has.

There are no options available today, which weren't there 5 years ago. It isn't everyone elses fault it took so long to find them.

Oh I am sorry, I didn't realise that one of the criteria of posting on the Loans forum was that you have to leave your manners at the door.

Secondly if you are going to make wild accusations please back them up by quoting any part where I have blamed any company for me borrowing money from them? I choose to borrow the money, I wouldn't have choosen to borrow the money had I not been in a desperate situation. You clearly show that your hatred for anybody that dares say that the Payday Loan system is wrong in the UK is so strong that it clouds your brain and removes your ability to actually read and comprehend English.

If you could read then you would realise that the only thing I have been asking of people is to stop being biggots towards people who find themselves in trouble and to actually show that your mother brought you up with a bit of manners. It is everybody else that has been trying to bring my personal situation into this, not me. In hope of scoring some spiteful comments thanks of course.

Your attitude absolutly stinks.

backinbusiness

Michael - seriously. Don't post anymore. This thread is going nowhere now.

[Deleted User]

While I'd respect everybody, the sadness is most of these pages won't have helped Twelve Stops : (

Lets leave payday loans to the richer and better educated and let them find out what happens when a company sneakily rolls over their loans, all in the name of an agreement which doesn't always work for both parties.

An accountant at the first hotel I worked in once told me .. "it is those who don't make mistakes that learn nothing"

xxx

Jeff_Bridges_hair

Deleted%20User wrote: »

While I'd respect everybody, the sadness is most of these pages won't have helped Twelve Stops : (

Lets leave payday loans to the richer and better educated and let them find out what happens when a company sneakily rolls over their loans, all in the name of an agreement which doesn't always work for both parties.

An accountant at the first hotel I worked in once told me .. "it is those who don't make mistakes that learn nothing"

xxx

Could I just inquire about this. How do they sneakily do it?

michael1983l

Jeff_Bridges_hair wrote: »

Could I just inquire about this. How do they sneakily do it?

Payday Express, when taking money from your account. If there is not enough there they take an extension fee instead and auto roll it over. They don't bother to ask you if you can pay with another card or even ask if you would like it rolled over.

like_u_not_an_expert

Having a problem paying something back doesnt make you a bad person so chill with the judging.

As for answering the ACTUAL question.

1st I would cancel my card
These PLD companies have systems in place to automatically attempt to take money from your bank on a daily basis, then when large amounts decline for a few days, a lower amount is then attempted for a few days. IF any of these transactions are authorised then they will automatically instantly attempt to take the same amount again and again until a) debt is recovered or b) card declines. So if you cancel the card and wait a few days for a new card you are issued with a new card number that they dont have and wont have any way of getting the number to.

2nd Cancel any DD's linked to the PDL companies.
When you 1st take out the loan they make you sign a DD mandate, (usually online) this then gives them the chance (after the 1st 14 days) to take out any amount they want by Direct Debit. Again if you cancel this they cant get the cash.

If they aint playing ball.. join them. Then when you get a call from them you get a chance to do something you can manage.

[Deleted User]

Jeff_Bridges_hair wrote: »

Could I just inquire about this. How do they sneakily do it?

When you have an agreement that says you'll be paying full amount on x date, come said date you find a roll over fee is all that's took and you can't even get close to discussing your account because it's then held at their discretion creating what do you know, but the the start of charges that to me is what's wrong. (issuing contracts as part of my daily job I would take any agreement seriously)

But I've no wish to turn this thread on my own issues which I can only hope I'm sorting through the correct channels (this thread has already been hijacked enough lol!) just want people to realise some of these PDL's are not wholly then thou I guess as much as it could be a time waste!

2sides2everystory

like_u_not_an_expert wrote: »

So if you cancel the card and wait a few days for a new card you are issued with a new card number that they dont have and wont have any way of getting the number to.

Unfortunately this may only be wishful thinking. If PDL Cos use Continuous Payment Authorities then it makes no difference if a card is cancelled ... it'll still get processed against the account the original card belonged to I think. The only way to kill a CPA/CCA is to get the PDL Cos agreement or to persuade your bank that you have attempted to do that in writing over a 30 day period, but that the PDL Co are continuing to abuse the CPA/CCA system.

Cancel any DD's linked to the PDL companies...Again if you cancel this they cant get the cash.

True that DD's are easy to cancel ... you can even cancel them via online banking, but recent posts on MSE show that merchants (perhaps PDL Cos) can just as easily set them up again from their end so it will be a daily game of cat and mouse.

TeenyBash

I'm quite flabbergasted by some of the correspondance in this thread, by all parties involved.

My view of MoneySavingExpert is that it is a site where people come to seek advice and help on their money problems, among other things. Not, however, for petty bickering.

In regards to the opening post and poster, I think it would be advisable to look at the following, if your haven't already (some people may have mentioned some of this). If you genuinely cannot meet the amounts the payday loan companies are asking for: -

• Cancel all direct debits/automated payments to the payday loan companies
• If the payday loan companies have your credit/debit card/bank account details on file, consider contacting your bank(s) and cancelling these cards (creditors have been know to take amounts from cards on their files without permission) and getting new ones
• Consider opening a new bank account and using it ONLY to pay your basis bills/living expenses
• Write to the payday loan companies, proposing a monthly repayment you can afford with the enclosed first payment (postal order) and tell them when you will be making this payment each month. Include your income/expenditure showing why you can only afford to pay that amount
• Make the above payment religiously, do not miss a payment. If they persue legal action, you can show you've been doing your best to repay the amount owed

You need to seriously reevaluate your lifestyle and spending, if you haven't done so already. Start from the basic/essential outgoings only. If you're not sure what would be considered an essential outgoings, speak to consumer credit counseling, who will be able to help you. Cut back on all non-essentials, this includes, but is not limited to things like: - Sky/cable subscriptions (reduce to lowest package possible, if contracted in), mobile phone costs (reduce to lowest tariff possible if contracted in), broadband, entertainment etc. Then look at cutting back on essentials. Can you reduce your food bills? Things like that. Once you've done all this, you'll have a better idea of what you can propose to pay back monthly to your creditors.


Sometimes we make wrong decisions in life, but that doesn't mean we can't take responsibility for our actions and turn things around. I'm sure the opening poster would think twice about taking out further payday loans in the future.



There are other ways to survive in the short-term, if you're desperate for food etc. Cancel payments to non-essentials, and deal with aftermath later. Your basic survival is more important than a Sky package or bad credit history. Failing that, there are soup kitchens and other help available. If you don't know where to ask (apart from here), your local Citizen's Advice is always a good place to start for all manner of things.

_Andy_

Epic thread guys, top work