Pay day loan help - letters

RuthnJasper

PDLs ARE helpful - as a last resort and ONLY if you KNOW you can repay in full on the due date, as DCFC79 suggested previously.

If there is any doubt whatsoever, however insignificant it may seem at the time, that you might not be able to repay the PDL then don't touch them with a VERY long stick.

PDLs have helped me out of a few situations in the past (very small amounts only - not for spending on nights out or luxuries). I hate myself for having used them, but I had no choice at the time. That said, you make a contract with the PDL company when you click the box that binds you to "I promise to repay..." You have a duty to adhere to that contract; it's only fair.

But I'm not here to judge or condemn you OP. Good luck with your situation, and I sincerely wish you happier times in the future. xxx

gizmo111

PDL's have their place - I borrowed from Wonga when I was on holiday having miscalulated over all the bank holidays (royal wedding and easter etc) last year and it cost me around £12 and I avoided a lot of bank charges that I would have been stung with if I hadn't paid money into my account.

gingeralan

gizmo111 wrote: »

PDL's have their place - I borrowed from Wonga when I was on holiday having miscalulated over all the bank holidays (royal wedding and easter etc) last year and it cost me around £12 and I avoided a lot of bank charges that I would have been stung with if I hadn't paid money into my account.

Wouldn't it be better to build a small savings account now for any future event such as this? It would mean that should you ever have a small miscalculation you would have instant access to a couple of hundred pounds to tide you over.

PDL's are a sign of bad financial planning. No offence to anyone, but they just are.

27col

gingeralan wrote: »

Wouldn't it be better to build a small savings account now for any future event such as this? It would mean that should you ever have a small miscalculation you would have instant access to a couple of hundred pounds to tide you over.

PDL's are a sign of bad financial planning. No offence to anyone, but they just are.

I think that you will find that that is called "budgeting or living within your means". A good idea but an alien concept to many on here

DCFC79

gingeralan wrote: »

Wouldn't it be better to build a small savings account now for any future event such as this?
.

As 27col says some people don't know how to budget/live with in they're means let alone what a savings account is. Its easy to budget or work out what you can actually spend yet some peoplejust find it hard to do.

gizmo111

gingeralan wrote: »

Wouldn't it be better to build a small savings account now for any future event such as this? It would mean that should you ever have a small miscalculation you would have instant access to a couple of hundred pounds to tide you over.

PDL's are a sign of bad financial planning. No offence to anyone, but they just are.

You are assuming that I have no savings - mine take 3 days to hit my current account and wonga took 15 minutes - I was in Africa and simply spent more than I intended and didn't have time to transfer and really the £10 or so it cost me didn't bother me in the slightest - all I am saying is PDL have their place.

I have also had one through quidco and made £30 out of them.

gingeralan

gizmo111 wrote: »

You are assuming that I have no savings - mine take 3 days to hit my current account and wonga took 15 minutes - I was in Africa and simply spent more than I intended and didn't have time to transfer and really the £10 or so it cost me didn't bother me in the slightest - all I am saying is PDL have their place.

I have also had one through quidco and made £30 out of them.

I have a small amount in savings with my own bank, while it doesn't earn much interest i can get access to my money within 5 seconds at no real cost to myself. I have the majority with other institutions which have reasonable returns but maybe take slightly longer to arrive.

Plan ahead and you won't need to use PDL's ever again.

gizmo111

gingeralan wrote: »

I have a small amount in savings with my own bank, while it doesn't earn much interest i can get access to my money within 5 seconds at no real cost to myself. I have the majority with other institutions which have reasonable returns but maybe take slightly longer to arrive.

Plan ahead and you won't need to use PDL's ever again.

My planning is fine thanks - doubt I'll be in Africa during a Royal Wedding again!

gingeralan

gizmo111 wrote: »

My planning is fine thanks - doubt I'll be in Africa during a Royal Wedding again!

Good, that kinds confirms my point then don't you think?

gizmo111

gingeralan wrote: »

Good, that kinds confirms my point then don't you think?

No I don't.
My point is PDL's have their place and can be helpful but shouldn't be used as a way of funding an already overstreched budget.
Your point seems to be that everyone who uses them is an idiot and should plan better - obviously you never make a simple mistake or buy on impulse.