Another payday loan hell - please help

Heffi1

You should pay your council tax first before you pay any of the payday loans, the council is the most important one of all and the others will have to wait.

I cannot stress this strongly enough, if you do not pay them then they WILL send bailiffs to your door and then your problems will be doubled.

Please say you are going to prioritise the council tax before the others?

marathon_man_3

Actually, reading through this, I would also go down the bank loan route to see if you can get, say a £5k loan (or whatever your debts add up to and no more !). That way you can pay off the debts in full and pay the bank back in an agreed number of months which you MUST stick to.
An unsecured bank loan is more expensive so do you have any security to back up the loan that will get you a lower interest rate. Having said that, even if you can only get an unsecured bank loan, it will be far less in both capital and interest terms than you are currently forking out.
Once you get sorted out, it is up to you not to fall back into any old habits again. Hopefully, you will have learned a painful lesson.

[Deleted User]

DS4215 wrote: »

You Council Tax is a priority debt.

Tixy wrote: »

The council tax should take priority over any of the payday loans.

Heffi1 wrote: »

You should pay your council tax first before you pay any of the payday loans

I couldn't agree more.

I cannot stress this strongly enough, if you do not pay them then they WILL send bailiffs to your door and then your problems will be doubled.

That's an understatement.

Not paying your debts, will see you in the County Court.

Not paying your Council Tax, will see you in the Magistrates Court.

Bravehearted_2

All those payment agreements you've made aren't worth jack if you go by the trend on here.

All those will agree today then sweep your account clean tomorrow.

Better move your money.

what_an_idiot

An update for you all if anyone out there is interested? I couldnt get a bank loan so am facing them all head on.

First things first, I have agreed a plan with the council tax and the total balance of £656 is to be paid over the next 4 months. Everyone is happy, and this only takes an additional £22 out of the budget I had set. One less worry.

Wonga - continue with £38 payment plan
LS - Continue with Monthly payments £231 for december
Pounds Access - pay £160 in full this month to clear
WDA - I have gone back to them and offered £48 monthly - will pay december at £86 if unable to reduce ( interest frozen )
update - WDA have come back with a plan of £51.80 over 5 months to clear
Swift Sterling - Pay in full at £258 this month

This is £773 and 2 paid off in full with 3 sticking to arrangements.
i am also expectiing a bonus of around £300 which will give me some play with QQ, PDE and Mr Lender.

Quickquid have continued to be extremely helpful. I have today sent them incomings and outgoings, and have offered £206 per month to clear the balance over 6 months. Fingers crossed

Me Lender have agreed that as long as I pay £120 this month for interest, they will accept a plan of £50 x 8 months. Great - have agreed.

PDE - Continue to ignore me. However, some have had some success with PDE. if this was you, can you please let me know how?

Plans in place to either pay back with no further interest or in full this month with everyone except PDE and Lending Stream. I will try to honour the lending stream until a few others are paid up and when I have the cash, just pay off early.

In terms of cancelling the CPA, Santander have emailed me saying I have to call so am going to try that now, and no response yet from Natwest. I am determined to protect my money, so any other advise will be helpful.

I'll keep you all updated, and if anyone out there is a reader, as I was for many months, I encourage you to write a post and get your head around it. It's not so bad once it starts

L xx

what_an_idiot

Is there anyone out there?

OK guys, I'm going to keep this thread going. It will definitely help me stay on track, and hopefully give people out there is a similar boat help and encouragement.

I started my Journey On Thursday, today is Wednesday and here are the results so far;
QQ - have been great. Have agreed to 1 months interest meaning 4 monthly payments of £375 and this will be cleared. I have made 1 payment, so 3 to go. I have re-negotiated with QQ and am now paying £206 for 5 months.
Wonga - agreed to £38 Monthly - 1 down 9 to go
Wage Day advance have agreed to 3 payments of £86 starting end of Dec I have re-negotiated with WDA and am now paying £51.80 for 5 months
PayDay Express I owe £967 ( including interest ) I have written confirmation of a plan from PDE £100 for first 4 months, increasing to £200 to pay off for duration of balance. All future nterests and charges cancelled. ( They have also made my cards obsolete and have agreed to standing order )

Pounds Access who I owe £160 ( inlcluding interest ) This will be cleared on the 20th for £147
Swift Sterling who I owe £258 ( including interest ) If I pay this on the 20th it is 13 days into the agreement so I am able to cancel through the distant selling laws and pay back the £200 only
Mr Lender £520 ( including interest ) £120 In december then £50 for 8 months
Lending Stream £680 excluding interest - this is a 6 month loan I have not contacted these guys, however, every spare penny will go towards making early payments and reducing the interest.

I also am behing with my council tax by about £300 £166 for 4 months will clear the balance for the year
I have missed a payment on my Credit Card with Vanquis £138 and I am sure this will now take me over my limit Vanquis have agreed if I pay £150 on the 21st, they will refund £150 will normal payments resuming end of January

I hope some of you out there are finding these posts useful.
Everyone I have spoken with have agreed some form of payment plan, in writing, and have agreed to freeze any further interest and charges. Even PDE!!

Good luck, and luck to me on my journey of getting free from these chains.

Thank you all for your advise

LannieDuck

Well done on being so proactive

I don't know much about payday loan companies, so can't give you practical advise on that side of things, but maybe if you posted how much your incomings/outgoings are each month (many people do this in a SOA), we could get a better idea of how manageable your repayments are?

what_an_idiot

Thank you LannieDuck
My incomings and outgoings leave me with about £800 to spare ( I have taken into account £150 per week living expenses too to cover any eemrgencies and food etc )
My current plan shows from End of Jan onwards, my PDL's will cost me £650 ish per month so this is managable.
I have just text my family for a loan of £400 to cover off half of lending stream and that will save me £400 in interest!! So fingers crossed that happens. My outgoings would stay the same as I would have to pay them back, but that would finish 3 months early. any spare penny left the day before payday would pay something extra off too. Still hoping for PDL free in 6 months.

Olza23

Well done, you should be very proud of yourself! You are doing all the required steps off your own back so you just need to keep doing what your doing! I know you don't need telling but (in a strict dad voice) What the hell were you palying at?? Dont do it again!!

All you need to look forward to now is the releif once they are all paid off..and then start paying into a savings account!!

what_an_idiot

Olza - Quite right!! If my Dad knew he would go banana's!! Seriously, what an idiot was an appropriate name.

I cant wait, this will all be paid up and by christmas, I should have saved about £2k too. Crazy when you look at it that way.

Working through my incomings.outgoings to the penny, i should even be able to pay LS off an extra £40 ish pound a month at least if my family dont come to the rescue, so that will stop me feeling hate for the ridiculous interest!

Onwards and upwards