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Payday pickle
Hi
My wages at work were reduced due to the economic climate. Reduced by £6K pa. which meant I was struggling to keep OH and 2 kids - so, to my regret now - I took a payday loan - then another and so on. It was just too easy.
Then I got a new job - better pay. Old job was weekly pay - new job is monthly - so I had 4 weeks to get through until first wage - so took another couple of payday loans...
Now I owe c£3k. I looked at a debt management plan - but the company concerned wanted £300 per month for the first two months before then paying some of my debts off. So, I declined the offer.
Am trying to agree repayment terms myself with the payday loan companies - but with the exception of Wonga they will not agree plans - and they just call and email all day - so when I speak to them I just keep saying the same thing - can't pay - can't have payment plan - where to from here.
Their response is that they will continue to keep trying to take money from my Bank - so, when any money goes in the Bank overnight I am up and down in the early hours checking internet banking so that when the money hits my account I transfer it to another account not linked to the card that the loan company has -nightmare
Payday Express said that unless redundant/sick they will not have a repayment plan
Payday UK - said matter going to debt collecting company - but continue to ring and email - ditto Quick Quid.
And they continue to add charges - and offer rollovers - neither of which helps.
Advice to others: no matter how skint u r avoid payday loans.
Rorysdad
My wages at work were reduced due to the economic climate. Reduced by £6K pa. which meant I was struggling to keep OH and 2 kids - so, to my regret now - I took a payday loan - then another and so on. It was just too easy.
Then I got a new job - better pay. Old job was weekly pay - new job is monthly - so I had 4 weeks to get through until first wage - so took another couple of payday loans...
Now I owe c£3k. I looked at a debt management plan - but the company concerned wanted £300 per month for the first two months before then paying some of my debts off. So, I declined the offer.
Am trying to agree repayment terms myself with the payday loan companies - but with the exception of Wonga they will not agree plans - and they just call and email all day - so when I speak to them I just keep saying the same thing - can't pay - can't have payment plan - where to from here.
Their response is that they will continue to keep trying to take money from my Bank - so, when any money goes in the Bank overnight I am up and down in the early hours checking internet banking so that when the money hits my account I transfer it to another account not linked to the card that the loan company has -nightmare
Payday Express said that unless redundant/sick they will not have a repayment plan
Payday UK - said matter going to debt collecting company - but continue to ring and email - ditto Quick Quid.
And they continue to add charges - and offer rollovers - neither of which helps.
Advice to others: no matter how skint u r avoid payday loans.
Rorysdad
0
Comments
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Post on the Debt-Free Wannabe part of the forum. Packed with experts there.
I'd also suggest opening a completely new bank account elsewhere for wages and direct debits.0 -
It's sound advice - they've looked tempting but you've helped me decide to avoid for certain! Thanks0
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