Please please help!

Choco_chip

Hi all,

I expect to get a real roasting from most people on here but i need your help i have been such a fool. I have got myself into a real mess with payday loans and now im trying to get my act together. My loans are with -

Tooth fairy
Payday Express
Payday UK
Mini credit
Cheque Centre

The first 4 i have got onto payment plans which i feel good about however here is where i have been an idiot.

Around 6 months ago i got into some trouble with the cheque centre and had to set up a plan of £218 a month over 4 months which they accepted and i never at anytime missed those payments. After i cleared this i ended up going back to the cheque centre to clear other debts and now have put myself in a real situation. My local branch which my previous repayment plan was through told me at the time that i could only do 1 repayment plan in a year so after taking out £200 i ended up going to another branch and topping up as i felt embarrased going into that store again. Now i am with the other branch and my loan stands at around £950 OMFG WHY HAVE I BEEN SO STUPID!!! I now cannot pay back in full and the only amount i can pay is £100 a month, i have not contacted the branch yet as my loan is not due until the end of june.

Im terrified that the branch will tell me i cannot get another payment plan or £100 a month is not enough.

Please go easy on me i am trying to get this sorted and im seriously down about this.

Does anyone have any advice as my head is swimming?

tuttifruiti20

Firstly I would suggest contacting the branch and speaking to them about it. At this moment in time you don't know that things can't still be resolved.

Choco_chip

tuttifruiti20 wrote: »

Firstly I would suggest contacting the branch and speaking to them about it. At this moment in time you don't know that things can't still be resolved.

Yes i will do that thanks, just wondering if anyone has heard of this 1 repayment plan in a year. Im just really concerned!

matttye

Choco_chip wrote: »

Yes i will do that thanks, just wondering if anyone has heard of this 1 repayment plan in a year. Im just really concerned!

1 repayment plan a year? They're talking crap. Your financial situation is what dictates when you will enter into a repayment plan, not their silly made up rule.

Sorry but I despise these disgusting companies.

They either accept your offer of a repayment plan based on your affordability or they can take you to court. If they take you to court, a judge will only order you to pay what you can afford. So most of the time they will just accept your offer, because they won't get any more money from you if they take you to court anyway.

Do you have repayment plans from the other four companies in writing? At least two of those companies (Tooth fairy and Payday Express) have been known not to honour repayment plans and just empty people's accounts. If you have a repayment plan in writing they're less likely to do this because you'll be able to prove the transactions were unauthorised. If you don't have them in writing, try and get them in writing as a matter of urgency!

Payday loan companies come right at the bottom in terms of debt priority. In other words they get paid last. Utility bills, rent/mortgage, Council Tax and any secured debts must come first.

Choco_chip

matttye wrote: »

1 repayment plan a year? They're talking crap. Your financial situation is what dictates when you will enter into a repayment plan, not their silly made up rule.

Sorry but I despise these disgusting companies.

They either accept your offer of a repayment plan based on your affordability or they can take you to court. If they take you to court, a judge will only order you to pay what you can afford. So most of the time they will just accept your offer, because they won't get any more money from you if they take you to court anyway.

Do you have repayment plans from the other four companies in writing? At least two of those companies (Tooth fairy and Payday Express) have been known not to honour repayment plans and just empty people's accounts. If you have a repayment plan in writing they're less likely to do this because you'll be able to prove the transactions were unauthorised. If you don't have them in writing, try and get them in writing as a matter of urgency!

Payday loan companies come right at the bottom in terms of debt priority. In other words they get paid last. Utility bills, rent/mortgage, Council Tax and any secured debts must come first.

Thank you so much for your response, i have all the other 4 on email so i guess that should be proof should they go and take unauthorised amounts? I should have said Northern debt recovery are the ones who set up my tooth fairy repayment plan.

matttye

Choco_chip wrote: »

Thank you so much for your response, i have all the other 4 on email so i guess that should be proof should they go and take unauthorised amounts? I should have said Northern debt recovery are the ones who set up my tooth fairy repayment plan.

No probs

Northern Debt Recovery, Tooth Fairy Finance and Marshall Hoares 'Bailiffs' (they're not actually bailiffs) are all the same company.

Yes should be fine. If they take more than you've agreed you'll need to complain to your bank and try to get a refund. In fact, just to be safe I would send copies of the repayment plan agreements to your bank by recorded delivery and tell them that you do not consent to any of those companies taking more money than what you've agreed in the repayment plans.

Choco_chip

matttye wrote: »

No probs

Northern Debt Recovery, Tooth Fairy Finance and Marshall Hoares 'Bailiffs' (they're not actually bailiffs) are all the same company.

Yes should be fine. If they take more than you've agreed you'll need to complain to your bank and try to get a refund. In fact, just to be safe I would send copies of the repayment plan agreements to your bank by recorded delivery and tell them that you do not consent to any of those companies taking more money than what you've agreed in the repayment plans.

Thats exactly what i will do, thanks very much!

And you are sure that cheque centre cannot say 1 repayment plan a year?

matttye

Choco_chip wrote: »

Thats exactly what i will do, thanks very much!

And you are sure that cheque centre cannot say 1 repayment plan a year?

A company is not obliged to accept a repayment plan, so if they want to say 1 repayment plan a year they're within their rights to do so, but it is a very stupid thing for them to say. What if someone who has already entered a repayment plan with them loses their job and only has benefits to survive on? Are they going to say 'only 1 repayment plan a year sorry' to someone who has the bare minimum of income needed to survive?

They do not have to accept a repayment plan, but you would tell them what you can afford and invite them to take you to court if they don't agree. If you go to court, a judge will look at your incomings and outgoings and he will order you to pay what you can afford, which will be roughly in line with what you've offered them anyway. In other words, it's hardly with their time and effort in taking you to court when you're offering them what you can afford already.

They cannot have money you haven't got, so don't let them bully you.

patman99

Op, one thing I will suggest as no-one else has. Set up an account at another Bank/Building Society & have any wages/benefits paid into this. Transfer any non-PDL DD's to the new account.
Now, you are in control of the situation and can transfer across the money for each PDL payment in time for them to take it. This stops them repeatedly raiding your account to take anything you have coming in in order to pay the loan off.

ANewLeaf

Hi there, don't worry plenty of us have been in your position, and you can get it sorted!

I had other debts too, but I really found a dmp with step change a lifesaver, they seem to be taken more seriously than when I tried to offer payment on my own.

I owed wonga 1400, and the least I could get them to accept was 95 per month, then step change wrote to them with the same income and expenditure details, and they accepted their offer of 37 per month!!!

So if you are finding it hard, take some help ( as long as it's the free kind!!!)

Domi37

Yes, as others suggest you should get in touch with them and set up a repayment plan. There's no such limit... everything is flexible.

Just learn you lesson and do not go back to payday loans...