Pdl- wonga repayment plan

ska_lover

gizmo111 wrote: »

With Wonga - you can part pay and rollover - so pay as much as you can and pay rest next month.

Bad advice. Dont drag it out OP. Bite the bullet, pay now and skint urself for the month.

musashi10

A few points.

Firstly best to pay them as much as you can as long as it doesn't, infringe on any essential expenses. If it dies you should set up a repayment plan for the remainder. If they don't the dca they sell it too will.

Also, don,t worry about insane charges or interest being added if you default. You will not have to pay them if it goes to court, because the contract has ended at point of default, and the only charges they can add are those thatbare deemed reasonable costs to them for the default.

27col

By definition, payday loans are going to leave the borrower short the following month. If you cannot manage on what you have, then how are you going to manage on what you have, less the loan repayment plus interest for having borrowed it. No wonder PDL borrowers get into trouble.

gizmo111

ska_lover wrote: »

Bad advice. Dont drag it out OP. Bite the bullet, pay now and skint urself for the month.

Not bad advice at all - The OP was asking about a repayment plan indicating that she could afford most of it this month.

[Deleted User]

mag21 wrote: »

Thank you for your help. I can afford to pay it in full, but I wouldn't have much left after paying the full amount and I don't want to take another payday loan to be honest because it will put me in the same situation as I am in now. That's why I was thinking about a repayment plan.
I'm aware it's a short term loan but I just don't trust these companies enough to ask them for help...
Not sure what to do.

To be honest if you can pay in full, do that it will spare you a lot of possible grief and potencial charges, even when I took a formal solution (because repayment plans can cost!! so avoid if you can) though I was told I'd done the right thing in paying of payday loan dues as quickly as I could, before credit cards even and that to me says something - PDL's are still contractual and have the same seriousness as a CC

Could you maybe drop a food brand for the month or postpone/miss a less important Direct debit payment for a month just to get the Wonga out of the way

Best regards

poppasmurf_bewdley

Pay the whole loan off in full, then borrow £100 more to ensure you don't starve over the next month, then pay that off and don't get another loan.

OR

Don't pay it off and mess up your whole life for the next six years.

Your choice, but I know which one I would choose.

gizmo111

poppasmurf_bewdley wrote: »

Pay the whole loan off in full, then borrow £100 more to ensure you don't starve over the next month, then pay that off and don't get another loan.

OR

Don't pay it off and mess up your whole life for the next six years.

Your choice, but I know which one I would choose.

But the point I am making is you can pay wonga all but the amount OP need's within terms and conditions and reduce interest and pay balance on next payday with no late payment markers.