Payday loan robbers

[Deleted User]

emmashouse02 wrote: »

and they seemed really understanding. They said "no problem" I could pay the interest and an extra £40 when I get my child benefit.

They were more understanding than some of the people on here.

The above doesn't sound sympathetic at all of the lender - I mean they were planning to take more of you by the sounds of it, £40 in charges plus the interest you can bet your bottom dollar would have been bubbling away and incurred behind the scene as long as the debt existed
I'm personally glad the PDE halo has dropped a little more

How about taking it up with the lender rather then blog here? complain to them - State the name of the person you had the call with, time and date as well as you can remember
you need to write to the company secretary and head letter as formal complaint

Anyone's income can drop : (
I'm sure you can get immediate help with redundancy
I'm not trying to be unkind either and think you don't have to let them get away easily with what they have done, just to ere on caution don't provide any bank statements to these numpties to be proving anything

pinkteapot

OP - see my post. Can you not take out another payday loan to buy the thing your mum gave you money for? As I said, you would presumably then be in the same situation as you are now?

To those saying better to be in debt to your mum than a payday loan company. Yes, if your mum agreed to lend you money. OP's mum didn't.

SnowTiger

pinkteapot wrote: »

OP - see my post. Can you not take out another payday loan to buy the thing your mum gave you money for? As I said, you would presumably then be in the same situation as you are now?

Giving this bad advice once was bad enough. Don't keep repeating the mistake.

The OP is having severe financial problems. Lying to a payday loan provider to get another high interest loan isn't going to help.

opinions4u

pinkteapot wrote: »

OP - see my post. Can you not take out another payday loan to buy the thing your mum gave you money for? As I said, you would presumably then be in the same situation as you are now?

To those saying better to be in debt to your mum than a payday loan company. Yes, if your mum agreed to lend you money. OP's mum didn't.

Given the lack of certainty over hubby getting paid in the forseeable future, I think this is setting a family up for disaster.

Even if he was getting paid, I'd think it a poor idea.

pinkteapot

Frankly, I was considering OP's mum who asked OP to buy something that was important to her and has lost her money. Or rather, will get her money back in dribs and drabs and didn't get whatever it was she wanted.

OP would be in exactly the same mess they were in to start with. OP's mum wouldn't be out of pocket, as she is right now.

Apples2

pinkteapot wrote: »

Frankly, I was considering OP's mum who asked OP to buy something that was important to her and has lost her money. Or rather, will get her money back in dribs and drabs and didn't get whatever it was she wanted.

OP would be in exactly the same mess they were in to start with. OP's mum wouldn't be out of pocket, as she is right now.

That attitude of deferral is the Devil in disguise.

Take now and sort the issue out later is precisely what has caused the problem for so many people on here.

With no confidence that the loan can be repaid, even the Payday lenders suggest a loan should NOT be taken (which is precisely the case with the OP here).

From Wonga

None of these things are worth risking if you have doubts over whether you will be able to repay a loan comfortably. If that's the case, please don't apply in the first place.

pvt

pinkteapot wrote: »

You were lucky your mum's money was in your account as otherwise you would have ended up with an unauthorised overdraft.

In what possible way might having an unauthorised OD ever be a worse situation to be in that having a Pay Day Loan? And a PDL you've renaged on at that.

Which banks do you know of that charge 4,500% APR on their unauthoirised ODs?

I would assume the OP would have exercised the option of an overdraft, authorised or not, before signing up with one of these legitimised loan sharks in the first place.

opinions4u

Which banks do you know of that charge 4,500% APR on their unauthoirised ODs?

Do some sums of small overdraft and multiple bank charges and you'll find the answer is most of them.

DCFC79

emmashouse02 wrote: »

They were more understanding than some of the people on here. I suppose you all also think the threat of redundancy only happens to stupid people... I apologise for being so gullable

Who mentioned about redundancy ? It can happen to anyone but it doesn't mean your stupid.

ihateyes

tell_it_how_it_is wrote: »

So as you admit it is 'in effect', Apples2 was actually right all along, and you are wrong. The idea is to pay the full owed amount in one hit on the agreed date - if you don't, as you say, they rake it in.

Nope some PDL's only take the interest only UNLESS you instruct them overwise, so again its a minimum payment.