Payday loans: defaulting on payment plan

Lazy_Fair

Ok, I've now sent off all the letters that Payplan sent me, hoping to hear back from the lenders with some positive news.

At what point do I make a standing order payment to the sum i quoted in my payment plan offer to the lenders? Once ive heard back from them? Before?

Also, what banks are most likely to accept me if I have a low credit rating? I need to open a new account in order to pay the standing orders.

Cheers.

ihateyes

halifax cash card.
you want to ask the lenders for sort code/account number so you can make payments to them.

You should make these payments as soon as. So now you have Junes ready to go (just awaiting bank details).

DO NOT give them any DEBIT CARD numbers as they may agree to one thing, but the will then go and do the opposite.

Lazy_Fair

In the process of opening a Halifax basic account.

Spoken to an agent from Quick Quid who said that they would only accept direct debits as a repayment method - with them happy to accept the plan I set out. I'm not happy about them having the direct debit on my account though. Are they allowed to do this? If I offer to repay, can they then dictate the form the repayments take?

ihateyes

Lazy_Fair wrote: »

In the process of opening a Halifax basic account.

Spoken to an agent from Quick Quid who said that they would only accept direct debits as a repayment method - with them happy to accept the plan I set out. I'm not happy about them having the direct debit on my account though. Are they allowed to do this? If I offer to repay, can they then dictate the form the repayments take?

I would say yes to direct debit, but i would ask for the amount in writing. then if they take more you can take the letter to the bank, and claim it back through the direct debit indemnity

Lazy_Fair

ihateyes wrote: »

I would say yes to direct debit, but i would ask for the amount in writing. then if they take more you can take the letter to the bank, and claim it back through the direct debit indemnity

I was thinking along the same lines. I asked them to do as much, and was told they were an online company and didn't send out mail! Is this just BS!?

ihateyes

Lazy_Fair wrote: »

I was thinking along the same lines. I asked them to do as much, and was told they were an online company and didn't send out mail! Is this just BS!?

pure BS. be adamant you want it in writing.

ikkle87

I would have thought setting up a standing order would have been a better idea than direct debit as then you can regulate the amount that gets paid and they can't take any more. You could see if they would take this as a possibility?