wonga.best way to proceed

marathon_man_3

Christmas could be tough but you are going to have to be very strict in the way that you handle it.
For the kids, go onto ebay and buy lots of silly presents totalling maybe £20 or £30 as a maximum total cost for each of them but no more. You can find loads of silly little things there or, perhaps, in Hawkins Bazaar.
If anyone in your family is likely to give you presents, be honest with them and explain that you simply can't afford to give presents away this year. If folks in your family still want to give you something, please don't be embarrassed to ask for cash instead. It costs the same to the giver but it might make a huge difference to you getting back to some sort of financial balance. Where possible, hand-deliver christmas cards instead of posting them
You simply don't need to come out of the festive period in a worse financial position if you plan it properly.

DaveK1971

Apples2 wrote: »

good idea in principle but what happens about the 50% they don't repay?
Everyone knows they aren't going to repay, the whole point of the first loan was because they had no money, not a cat in hells chance they have all this extra money the following month.

The best method would be to stop the idiots applying for them who already know they won't be able to afford the repayment.

I don't buy the claims that soooo many people, by sheer coincidence, have that all important unforeseen change of circumstance.

Sadly we can't do that, the lenders have to believe the applicant is applying with an intention of repaying, no matter what regulations are in place.

If they lose too much money through bad debt, they will fold.

I have spent two years in payday hell. I borrowed to pay a deposit on a flat to rent intending to repay in full when I got the deposit from my old flat back. Unfortunately my letting agent refused to give my old deposit back, hadn't protected it in a scheme and went bankrupt before I could take them to the small claims court leaving me unable to pay the loan back. My big mistake was panicing when the repayment was due and rolling the loan over as the debt spiraled. Borrowing the initial £900 has left me owing about £2,000 despite having repaid over £3,000 in roll over fees. I have now sought advice and am dealing with things but I am convinced that the pay day companies know that they are going to drive some people to financial ruin but they hope they can make enough out of them before they hit rock bottom.

Personally I think they should be regulated, have their rates capped and if somebody has repaid more than say three times the amount borrowed the debt should be written off!

I accept responsibility for the mess I got myself into but I do think the pdl's are irresponsible lenders pretending to be helpful and "cuddly"!

Wutang_2

DaveK1971 wrote: »

Personally I think they should be regulated, have their rates capped and if somebody has repaid more than say three times the amount borrowed the debt should be written off!

:beer::beer::beer::beer::beer:

shellyruby

DaveK1971 wrote: »

I have spent two years in payday hell. I borrowed to pay a deposit on a flat to rent intending to repay in full when I got the deposit from my old flat back. Unfortunately my letting agent refused to give my old deposit back, hadn't protected it in a scheme and went bankrupt before I could take them to the small claims court leaving me unable to pay the loan back. My big mistake was panicing when the repayment was due and rolling the loan over as the debt spiraled. Borrowing the initial £900 has left me owing about £2,000 despite having repaid over £3,000 in roll over fees. I have now sought advice and am dealing with things but I am convinced that the pay day companies know that they are going to drive some people to financial ruin but they hope they can make enough out of them before they hit rock bottom.

Personally I think they should be regulated, have their rates capped and if somebody has repaid more than say three times the amount borrowed the debt should be written off!

I accept responsibility for the mess I got myself into but I do think the pdl's are irresponsible lenders pretending to be helpful and "cuddly"!

Dave ,thats an awful story with the letting agency..and so unfair.am glad you are dealing with it.are the letting agencys bound by law to provide the scheme for the deposit..you were fully expecting to pay it back and the money should have been there for you..grossly unfair..
i curse at the wonga grannys whenever they come on the box.

shellyruby

marathon_man wrote: »

Christmas could be tough but you are going to have to be very strict in the way that you handle it.
For the kids, go onto ebay and buy lots of silly presents totalling maybe £20 or £30 as a maximum total cost for each of them but no more. You can find loads of silly little things there or, perhaps, in Hawkins Bazaar.
If anyone in your family is likely to give you presents, be honest with them and explain that you simply can't afford to give presents away this year. If folks in your family still want to give you something, please don't be embarrassed to ask for cash instead. It costs the same to the giver but it might make a huge difference to you getting back to some sort of financial balance. Where possible, hand-deliver christmas cards instead of posting them


You simply don't need to come out of the festive period in a worse financial position if you plan it properly.

marathon man..thank you very much for that,luckily las month my mum had said[she knows fianancial problems but not about the pld ,that she was giving us 100 pounds for each of our kids to get them prezzies as she knew xmas may tip me over again fianancially so weve started looking on ebay for them..
am telling all other family we not doing presents..
like you say am going to be totally strict with myself..
ive gone through fianances and i will have to renew at the end of december but if i completly cut back..take out cash and give my card to hubby then i should only have to take out £278 with wonga..then in january cut back again,,i will have the free months council tax and then should just have to take out 170 and im hoping to be free of them by feb..time to get to aldi for shopping instead of tesco.we seem to do too much top up food for bits and pieces in the week so got to look at an easier way to do it,
thank you for your advice. it was really helpful..im going to properly plan for every single penny i spend in december..and take back control..

marathon_man_3

Shellyruby - I love your attitude and determination to get through this. When you can actually manage to get through a month without a paydayloan you know that you are on the way back.

One last thing, before I leave you in peace, don't be too embarrassed to buy some clothes, for a while anyway, in charity shops, car boot sales or jumble sales. My mother used to buy old woolly jumpers for maybe 50p, unpick them into balls and then re-knit them into new jumpers, gloves, hats and/or scarves. You can even get knitting pattern books on loan from the local library. Something to do over the winter months, perhaps.

Off you go, now, to dig out those knitting needles !

shellyruby

thank you Marathon Man.am so fuming with myself over this..i came out of my dmp last year having paid it off for years.vowed to never get in debt again..famous last words..never again..am definalty a charity shop girl from now.id actually love to knit and save money seeings as its jumper time again.i think now having been through this payday thing and seeing my wages just disappear every month and being miserable its made me determined to pay it back..live on the bare minimum.. maybe its only once youve taken these loans out and you see the hell of what it does that you know you ll never take one out again..roll on february..on to my first jumper lol.
thanks very much for the advice.appreciated and will be taken up.

marathon_man_3

Sorry - I was going to leave you in peace but...

From my early 20s, as a matter of necessity due to being newly-married with a young baby and very little money, I started growing my own veggies and salad crops in order to help put food on the table. Apart from being a very healthy exercise in the fresh air, you know exactly what is on your crops and you can get loads of seeds in a packet for about £1 per time, from quite a few excellent firms who sell on ebay. Have you thought about growing your own?
Your kids can eventually be encouraged to grow some also.

If you haven't got space where you are, you can put your name down on a possible waiting list for an allotment in your area. A plot can be rented for around £25 to £30 per year.

Just a thought....

shellyruby

marathon_man wrote: »

Sorry - I was going to leave you in peace but...

From my early 20s, as a matter of necessity due to being newly-married with a young baby and very little money, I started growing my own veggies and salad crops in order to help put food on the table. Apart from being a very healthy exercise in the fresh air, you know exactly what is on your crops and you can get loads of seeds in a packet for about £1 per time, from quite a few excellent firms who sell on ebay. Have you thought about growing your own?
Your kids can eventually be encouraged to grow some also.

If you haven't got space where you are, you can put your name down on a possible waiting list for an allotment in your area. A plot can be rented for around £25 to £30 per year.

Just a thought....

Hi Marathon man.dont worry about leaving me in peace lol,any suggestions of how to save money is exactly what i need now.i would love to do this..unfortunatly we are in a ground floor flat so no garden..we do have an allotment a walk away..i will enquire about this.id love to grow my own stuff as i miss a garden so much..might encourage the kids to eat more veggies if they ve grown them..i have no experience in it at all but it interests me and id have to read up on it..ive thought about doing window sill box seedling for ages but have never done anything about it..could i grow herbs that way..i always use herbs in everything and i go through a lot of them.id love to grow my own.i will enquire about the allotment when im passing there..id love to grow my own potatoes..
thank you so much for that suggestion,.any more you have will be gratefully recieved..ive also thought about making my own bread..but dont know if the outlay is worth it.

marathon_man_3

I have posted a private message to you.

Please read it when you have a moment.
I will offer any encouragement to you about growing veggies.
Just ask !