Taking control back over PDLs

PhoenixDF

Bravehearted wrote: »

Forgive me, but your ignorance is unfortunate.

Try getting any decent credit with pay day loans dancing about your file. Especially as you claim you've taken 20 out - that's not advice to brag about - it suggest you cant manage money well.

I believe PDLs on a credit file have been described as "an anal pube on your donut" - I'm sure no lender (or indeed anyone) wants that.

So if I pay all my bills on time, don't miss a payment and avoid any late penalities and pay off the PDL back early when I was short for a few days......that suggests I can't manage money well?

I think with over 5 years exprience in the financial sector I know what I am talking about and when wonga reports to the credit agencies it isn't as a loan company - its acting as a cash advance payment (like what you can take on credit cards). And creditors can't see the name anyway.

So, I think its your ignorance that is unfortunate.

Emmzi

Sorry to disillusion you but if you need a PDL you don't manage money well!

Equivalent to when I was a bank manager seeing someone coming out of the pawnbrokers. Instantly marks you as high risk. And yes we can tell what sort of loan is a hunred quid paid back a month later - not daft and don't need a name to be able to tell!

tell_it_how_it_is

PhoenixDF wrote: »

I think with over 5 years exprience in the financial sector I know what I am talking about.

With respect, you'd think after that length of time you'd realise that handing over hundreds of pounds of your cash to Wonga et al is indeed tantamount to terribly poor money management, and that's before considering the real actual effect it has on your credit rating.

DCFC79

Bravehearted wrote: »

I believe PDLs on a credit file have been described as "an anal pube on your donut" - I'm sure no lender (or indeed anyone) wants that.

Or "this is the financial version of sticking your nads in a food blender " as posted by KingElvis

Emmzi

DCFC79 wrote: »

Or "this is the financial version of sticking your nads in a food blender " as posted by KingElvis

I'm not sure that's really dangerous. The blades are pretty far down.

Dolores_H

So I've been trying to open a new bank account, but my passport has expired by a WEEK. So I've applied for a new one, but if it's not here in time I had a question.

I have another account with Santander, that is a completely separate banking account. If I put my pay in there, can Wonga still take it? Different account number, sort code and card number, but still at the same bank, in my name.

Bravehearted_2

Yes.

The bank will use any money in the other account to offset the difference.

Dolores_H

Bravehearted wrote: »

Yes.

The bank will use any money in the other account to offset the difference.

Sh*t.

Will this even be the case if I contact the PDL company before the payment is due, to negotiate a payment plan?

Bravehearted_2

Wonga are known for agreeing to payment plans but then when you're not looking go in for the WHOLE lot.

You need an acc with a different bank - bar that, your mattress.

Dolores_H

Bravehearted wrote: »

Wonga are known for agreeing to payment plans but then when you're not looking go in for the WHOLE lot.

You need an acc with a different bank - bar that, your mattress.

Not sure what to do now. I can't get a passport for another month, and that's another £70, and I can't seem to find a bank that will let me open an account without a passport. Any suggestions?