PDL companies what's been your experience ?

Smokealot

Hey There,

(no Trolls please, plenty of celebrities on twitter to for you to vent at and honestly I couldnt give a toss)

THIS THREAD IS ABOUT EXPERIENCES IN CLEARING YOUR PDL`s NOT AVOIDING THEM.

I am starting this thread for those of us who are looking to escape the payday loan trap.

Im looking to draw on the expriences of those who have defaulted and how they resolved it or are currently struggling with the company in question. You never know by bringing it all under one thread we all might learn something that we didnt know already (think we all learned something didnt we)

Im hoping also, that by having this information here others may read it and avoid PDL`s altogether.

If the company was agreeable to a payment plan, please list the name, how you agreed the plan (i.e via mail, email etc) and any other information you think is useful.

If the company was not agreeable please tell us where you are with them now and the experience you have had.

I know there are great threads on how to protect your money elsewhere on MSE so I dont want to start another.

I have put a list below of the main PDL`s (not all mine) if yours isnt on this list just tell everyone about it anyway.

PDL Experience
Wonga ?
Qucikquid ?
Toothfairy ?
PDUK ?
Payday Express ?
TXTloan ?
Mr Lender ?
Monkey dosh ?
speedy loans ?
payday advance ?
cheque centre ?
early pay day ?

As I say sharing the information may help others, i know these forums have helped already as i embark on my journey to freedom.

[Deleted User]

my experience with PDL`s is non,zilch,nada and long may it stay that way

Apples2

Wouldn't this thread have an adverse effect?

It would steer people toward the lenders who do have a little compassion.

They would know who to borrow from in the sound knowledge they aren't going to bother repaying a penny who aren't going to give them a hard time.

The message is simple:

DO NOT TAKE OUT A PAYDAY LOAN....EVER!

If you do anyway, MAKE SURE YOU CAN FULLY REPAY ON TIME.

Let's not encourage them.

sharpy2010

I've taken out a couple of PayDay loans, paid them back when I said I would, and haven't had any problems at all.

Don't plan to use them again now, as I've managed to save up some cash since last using them, but if the need arose again, I would do it.

broad-sword_2

My brother took one out and very soon it became two. He's addressing the root cause of his need for these loans now, and that is really the advice people should be giving.

sharpy2010

Why is it that 95% (at least) of the people who apply for these loans cannot manage their finances or be responsible with money?

DCFC79

sharpy2010 wrote: »

Why is it that 95% (at least) of the people who apply for these loans cannot manage their finances or be responsible with money?

They just can't/dont budget accordingly or they haven't caught the saving bug.

Robisere

It is going to be a long, long time before the financial truth gets home to people in this country. Living on Credit does not work. If you cannot pay for what you buy, in a reasonable period of time, keeping to your payment agreements, then you will suffer for it.

There are far too many people in Britain today, who have absolutely no money sense whatsoever. as has been said, it should be on the National Curriculum.

nyc_451

sharpy2010 wrote: »

Why is it that 95% (at least) of the people who apply for these loans cannot manage their finances or be responsible with money?

I wouldn't say it's 95%. The customers I see are regular, therefore I used to think that most of the people never stop using pay day loans once they start, but when I actually took a look at company's data and saw how many of them used us only once or couple of times, I was surprised...easy to forget people who don't show up often, isn't it. It's just an example. If you take pay day loan once it doesn't mean you're irresponsible with money, unexpected things happen.

But yeah......people surprise me by not having a clue about their finances, and by living a posh life while extending their loan for years!!...:eek:

dealer_wins

Robisere wrote: »

It is going to be a long, long time before the financial truth gets home to people in this country. Living on Credit does not work.

And our Governments.

kilasuit

sharpy2010 wrote: »

Why is it that 95% (at least) of the people who apply for these loans cannot manage their finances or be responsible with money?

Why is it that 95% of MSE posters have judgemental views on people that get into genuine financial difficulty either through genuine misfortune or mishap and believe that they are all financially illiterate.

a judgemental post is a completely unwelcome post.