Payday Loan misery

plum44_2

Good Luck with sorting it out Laura - hopefully its the wake up call that will change your overspending habits. Do read up on this site for lots of good tips with budgeting and cutting right back.

Moneymash

I don't think it will be as easy as going to your bank the morning you get paid and withdrawing your wages. When does your wages go into your account? If for example your are paid at 00.01am you may find these PDL companies take their money shortly after. I borrowed from Wonga and by 8am of the day I was paid, they had taken their payment.

I would as another poster suggested let them take their money and then plead poverty to your family/friends (not ideal I know but at least they care what happens to you which the PDL can never be accused of) at least it will be true and you aren't for example asking them for money to pay these loans which they may have less sympathy for. Also the PDL companies wont be hassling you or increasing the interest.

If you have a job where you can do overtime then get working or sell stuff on ebay.

Good luck.

LittleJo

Hi,
No sermons, I have been there!
You will sort it one eway or another.
Get proper advice from CAB etc..
It is difficult to think straight when you are reallu up against it.
One tip is to write down every single penny that yo spend and make sure you get the best value and are not wasting anything.
Cheers
Jo

BugsyBrowne

Laura I can't work you out you have a monthly income of £1600 a month after tax, you also don't have any children and your rent is £390 a month I am being honest now where do you think you are going wrong??

laura243

:mad::mad::mad:Bugsy,I'm pretty sure I asked you not to continue giving your snide advice?!It really has nothing to do with you but I earn £1100 a month as I no longer live with my partner, rent increased as I HAD to move out and I have had to get a car loan which stretched my finances.Now I am asking nicely this is the last I hear from you,I find your "advice" demoralising and I know I have gone wrong with finances I DO NOT NEED YOU TO TELL ME THAT & I am not a tw*t, keep your horrible comments to yourself.:mad::mad::mad:

:)Thanks everyone else for their kind words, think I will make sure I pay them back and see if I can borrow from a family member for next month, if this fails I will go to CAB for advice.I will keep you all updated.Thank you again, your kind have kept me upbeat!!

Elvisia

If it were me, I would let them take the money so that's paid off, and there are no more charges. Then I would be super nice to my parents who'd probably have a go at me for being my age and getting into trouble, and hope they'd be able to lend me enough to cover me for the month. I'd also use my overdraft facility to the max as the interest will be far less.

It is easy to get in a mess, when I first moved out I ended up in debt even though I was frugal. I knuckled down and after 6 months I had paid it all off, and am so keen to never get in that position again. The key to staying out of debt is a) budgeting b) knowing EXACTLY what money you've got, the biggest mistake is buying something on a credit card not realising how much is already on there. Taking away the guilt of spending is such a joy, which is what happens when you know your finances well.

Lots of luck, it sounds like you'll soon be out of this mess if you play it cool and get organised.

simon2010

tell it how it is - is spot on!!!


Do that. Let them come out and go for a smaller one.

How much do you need for the month? Do u live with your parents etc?

Can you borrow from a friend or family? Join a credit union as well btw.


Not lecturing you (I have done it), but pls learn form this hard lesson and never ever go back to them once clear!

Good luck x

geoffky

You are going to be back soon and most of the regulars know why...and you deserve whats coming..

BugsyBrowne

laura243 wrote: »

:mad::mad::mad:Bugsy,I'm pretty sure I asked you not to continue giving your snide advice?!It really has nothing to do with you but I earn £1100 a month as I no longer live with my partner, rent increased as I HAD to move out and I have had to get a car loan which stretched my finances.Now I am asking nicely this is the last I hear from you,I find your "advice" demoralising and I know I have gone wrong with finances I DO NOT NEED YOU TO TELL ME THAT & I am not a tw*t, keep your horrible comments to yourself.:mad::mad::mad:

:)Thanks everyone else for their kind words, think I will make sure I pay them back and see if I can borrow from a family member for next month, if this fails I will go to CAB for advice.I will keep you all updated.Thank you again, your kind have kept me upbeat!!

You can't handle money Laura and you certantly can't handle the truth, you have borrowed money that you can't afford to pay back and then came on this forum trying to find the easiest way for YOU not to pay back what you have borrowed like switching bank accounts etc which is probably not the first time this has happened.

Quick Tip: Don't borrow money if you can't afford the repayments:

esuhl

laura243 wrote: »

These companies are purely greedy and outrageous with their fees but i still took them on...

Doesn't that make you greedy and outrageous too?

Well, whatever. I hope you manage to control your finances so you don't waste too much money maintaining your debt. Good luck...