Advice please anyone??!!

claire7575

Hi i need some advice regarding pdl's please.

I currently got into some trouble with payday loans resulting in the constant cycle of deferring them and never reducing them.

I am able to pay them at a scrape but the re payment dates are set too close together resulting in me paying some and deferring others.

I have another bank account that im in the process of transferring my DD to and also my wages so that i know at least my bills are taken care of first and foremost.

I have a form from Harrington Brooks to set up a DMP which i am hesitant to fill in and just wondered if anyone could offer me any advice please on which way to go with my situation.

Obviously i'm aware i have fallen into a silly trap and am just wanting to get out of it so please no sarcastic comments!

[Deleted User]

Hi Claire,

Welcome, no sarcastic comments from me maybe cheesy ones! lol! I've been down payloan ave myself and in 6 months am nearly free - as they drop of it is the most amazing feeling!

First of ditch the Harrington Brooks form (best thing you could do) hope you've not paid any money?
If you do want a debt management plan try one of the free ones - Payplan, CCCS they don't charge where as H.B do and hate to say this they will tell you what you want to hear at first and are only interested in your money

As long as your willing to put in some time, be persistant, maybe getting involved with communication, make some changes and don't mind your credit report taking a hammering you'll be ok

Please do try one of the free DMP companies for starters

claire7575

Hi KeepCalm,

Thank you for your reply. I havent as yet paid anything to HB the form is still waiting to be posted,i am already a member of payplan (existing debts accrued with ex from 5+years ago) i'm not sure if i can add these PDL's to my existing plan?

Am i correct in thinking i need to cancel my current bank card? as there is conflicting advice about this,as i said i do have anther account i can use im just not sure how i am to go about things from here??

I look forward t the light at the end of the tunnel though thank you for sharing that it is possible to get there!

malcolmffc

Wait, you were already on a DMP and then took out a payday loan? Oh dear.

Emmzi

you'll have breached the terms of your DMP by taking out new debt. Payplan won't support you in clearing new debt you added.

I think you need to get over to the DFW board and tell then the whole story, you need help about more than PDLs!

CHR15

That tunnel has just got a whole lot longer.
I would expect payplan to throw out your entire agreement, they are too busy looking after worthy causes than people like this.

Get over to the dfw board and put up a full and frank statement of your affairs, same as payplan though, don't waste their time if you won't take their advice onboard.

skintandscared_2

I don't even know how you managed to GET any payday loans whilst on a DMP. Were you not aware that the first rule of a DMP is that you take on NO FURTHER DEBT?! I agree it is likely that PayPlan will now stop your DMP and you'll be back to square one with negotiating the original debts you had but you can only speak to them, beg forgiveness and see if they will help you.

You urgently need to review your spending and work out why you had to take out these additional loans. Your DMP should have left you with sufficient to live on. Good luck!

[Deleted User]

Hi Claire

Sorry afraid a whole new bank account would be best - at unconnected bank or building society to your current one
just cancelling a card is not guanteed to work - some will say different but why risk it

Can you speak to Payplan 1st thing tomorrow see if they can add these PDL's (don't know until you try and I have witnessed others in this scrape be ok) it has got to be a whole lot better then signed up to a paid for debt management co otherwise go it alone - that to can be done there is another people out there milling about who have done this - take comfort from that and you are definately not alone

Don't forget as the PDL world is now under the microscope they might be easier then ever to deal with now

Have you done your homework - work out how much you can afford to pay back and what the total is of each one - use this to show willing with Payplan

x

[Deleted User]

skintandscared wrote: »

I don't even know how you managed to GET any payday loans whilst on a DMP. QUOTE]

Because more then most (if any) payday lenders don't do credit checks so equally to blame, thats how I see it

claire7575

Thanks Keepcalm,

Just to clarify i have the payplan DMP from over 5yrs ago it was set up because my partner at the time was joint cardholder on my cards (stupidly i know) anyway to cut a long story short he racked the cards up and because i was named account holder they were placed in my name with him as a secondary account. Before that the cards were always paid in full and no where near their limit.

I will forget the HB route and just try to sort it out myself i think as you say thats probably best way.

claire7575

CHRIS15,

Please don't judge people unless you know the full story. I have had the plan for 5+ years i have NOT obtained any other credit during my plan i am well aware of the agreement,not running around trying to obtain any kind of credit i can!

I was switching jobs and thats why this PDL situation happened in the first place. I made a mistake obviously i'm well aware of that and am now trying to address it im not the first and im sure i wont be the last!

So please dont presume i have some nonchalant attitude towards it all as i can assure you i dont!