There is light at the end of the tunnel

Paydayloangetmeoutofhere

Hi there Guys

I have been one of these silly people who have fallen into the payday honey trap.

I felt like it was a quick fix at the time but it became like an addiction .Constantly getting approved for more loans and in the long run more debt.

I was up to 11 lenders and £5653.35 before interest. A very stressful situation. I managed to pluck up the courage and face my demons and start to sort things out.

I have managed to get payment plans up with all 11 which was very hard and time consuming. I am now on month 4 of my payment plans and down to 10 lenders.

i would be more than happy to assist you with template letters and any help that will help anyone who has fell into the same honey trap.:rotfl:

Haylezzmm

I love reading about others who have managed to claw their way back from the payday loan pit. Its people like you on here who gave me the courage and inspiration to sort myself out!

I was in the same boat as you, I had 12 payday loans at one point and I'm now down to 4, all in agreed payment plans and which will all be gone by January 2013, then its just the credit card and overdraft to tackle!

Well done OP, its such a long and terrifying road when you first start but it can be done Keep going!

H x

~Brock~

Well done OP. :T

tonkinator

Well done.

Out of interest, when you were applying for the last few, could you physically afford to keep up with the repayments?

As in, would your wages have covered repaying the minimum that they would have required, for all 11?

I'm not saying that it's completely their fault, you've obviously taken responsibility for your actions, which is comendable to say the least (don't mean that in a patronising way) but it's really bad that someone could have £5,500 worth of debt that technically should be repaid at the end of a month

Paydayloangetmeoutofhere

tonkinator wrote: »

Well done.

Out of interest, when you were applying for the last few, could you physically afford to keep up with the repayments?

As in, would your wages have covered repaying the minimum that they would have required, for all 11?

I'm not saying that it's completely their fault, you've obviously taken responsibility for your actions, which is comendable to say the least (don't mean that in a patronising way) but it's really bad that someone could have £5,500 worth of debt that technically should be repaid at the end of a month

your totally right i'm not blaming the company's who kept giving my funds and deferral options. I was living out with my means and having money from different company's at different times of the month. :rotfl:

Paydayloangetmeoutofhere

Haylezzmm wrote: »

I love reading about others who have managed to claw their way back from the payday loan pit. Its people like you on here who gave me the courage and inspiration to sort myself out!

I was in the same boat as you, I had 12 payday loans at one point and I'm now down to 4, all in agreed payment plans and which will all be gone by January 2013, then its just the credit card and overdraft to tackle!

Well done OP, its such a long and terrifying road when you first start but it can be done Keep going!

H x

It seemed like there was no way out and i was more embarrassed than anything else for being so stupid. But i have done a spread sheet showing how much i owe and my monthly payments. As each one clears then i can add extra to other ones.

I must admit that a few of the company s have been very good but a few were a complete nightmare.

gallygirl

How lovely that as soon as you've sorted yourslef out you come on here offering to help others :T. Well done, I wish you every success .

Paydayloangetmeoutofhere

:j hi there Guys and Gals i thought i would give you an update on how things are going with these payday loans arrangements.

In October i was down to 10 lenders we are now in December and down to 8 lenders.

All going well i will have another 3 cleared of in December. it's all going really well and my stress levels have come down a great deal. :T

I would strongly recommend that you bite the bullet if you are in the situation that i was in. It feels good knowing that said company's will not just dip my bank account and leave me with nothing :mad:

i must also give credit where credit due. the customer service i receive now is second to none and the threatening phone calls and letters have stopped.:T:T

iaintw

can you tell me your lender names please
if its minicredit their are used to be bad company now but their dont do anything
so my advice is keep it up well done. If the calls and others do a letter to them saying "haressment"

Moneymash

iaintw wrote: »

can you tell me your lender names please
if its minicredit their are used to be bad company now but their dont do anything
so my advice is keep it up well done. If the calls and others do a letter to them saying "haressment"

Why do you need the lenders names? What was a positive thread now is going to become an advert for pay day lenders. If you want to know who they are pm the op.

Don't start singing the praises of pay day lenders, who lent irresponsibly, charged extorniate interest rates, but are now ok because they've agreed to a payment plan. It's in their best interest to accept a payment plan, they get the same money back just over a longer period of time.

Apples2

Maybe iantw is looking for more cash from people who will not hound him when he fails to repay.
Not like all those other vultures and criminals who pester for repayments.

Well done OP, so refreshing to read about someone digging themselves out of the hole. The very best of luck to you.