bout to break down please help?

freshstart11

Back in my stupid days I got an Uncle buck payday loan. DCA have been taking payments of 7 a month, agreed and increased from 5 at my request.


I had thrown away all details so emailed to ask what origional loan was and what charges/interest added.

The loan was £100 and they are apparently adding £30 a month interest.

I was told In April charges held and the balance was £750 - its not £850

Right now I wanna give up on all the good stuff I have done and I cant stop being physcially sick.

What is the point Im starting to think it would be easier to go bankrupt or be dead because I cant see a way out of this or sorting this out :'(

So stressed and this has tipped me over edge :'(

freshstart11

sorry not £30 .....30%!!!

wanna-be-mortgage-free_2

Hi Freshstart

I'm really sorry you are feeling so low today but please try and stay calm.

I'm not sure of your full situation, it appears from your signature that you have set up a payment plan, is this one included in it? Do you have it in writing that the interest was stopped?

Please, please try and stay calm, I know it's easy to say but at the end of the day it's just money and they can't have what you don't have. Just take control again and think of all the positive things you have done to date.

room512

Take a deep breath and think of all the positive steps you have taken. There will be an end to the debt, it just takes time to sort it all out and get it under control.

Sorry i can't offer much help - just couldn't ignore what you'd written. I'm new to all of this and am just starting to work through my mountain of debt. But with the support of this forum and the people on it, I know I'm not on my own and there's always people to listen and offer advice.

Hope you can sort it all out xxx

freshstart11

I checked on an email they sent me

"As you are aware, Carter Forbes is assisting in the recovery of an outstanding Uncle Buck debt. This does not only mean by assisting Uncle Buck but also YOU, the client.

We Want to:

Listen to you. It is your account after all and we can help arrange a suitable repayment plan, taking into account any circumstances.

Look to freeze your balance. As soon as an arrangement is in place, we will freeze your balance and stop any escalation of the account."

They should have frozen it, i havent missed a payment, i asked to increase instalments and contact them with new I&E when requested.

I thought I had everything sorted and now its all going wrong, feel so bad

freshstart11

emailed him back stating that bit I copied with a read report attached - he read at 16.38....wait and see

ktez

Hang on in there Freshstart11. This is a blip that i'm sure you will overcome. Things that make me feel ill one day may not even register on my radar the next. These things are sent to test us and although it might feel awful at the time, it makes you a stronger, wiser person in the end xxxxx

RAS

You might want to read martin's blog about the OFT investigation on Payday loans and the agreement to halt charges etc.

Comes in officially in July, but if you prove you know about it, that may have an effect.

Barbeduk

Stay calm, could be you can't do anything til Monday now. Concentrate on all the positive things you've done since you started your jouney. If you're like me you probably read a lot of the diaries on here, they're really inspiring and makes you feel so much better that there are other people in the same boat.

paulwellerfan

is your life really only worth a couple of grand???
its only money for god sake.

[Deleted User]

Freshstart, I had exactly the same happen with another payday lender, although it could be a genuine oversight mistake/error on their part, I fought back when this happened to me - complained to the lender and was prepared to take it further

Perhaps their trying to pull the wool over your eyes because your asking a question? (they see it as another opportunity to make money?) wouldn't put it past half the payday companies hoping people don't realise how much is owed in the first place!

you have kept everything in writing? if so, you have nothing to worry about
Keep strong and persist - it will pan out