Payday loans - discuss the MSE guide

louloubxx

lol of course not. I just think that knocking someone who is clearly already down doesn't help. Don't get me wrong I'm not saying they should be treated with kid gloves but as I have done when I've asked for help pointed out that I was stupid, there is no need for pointing out the obvious. I'm not talking about helpful tips that can be used in future I'm talking about the nasty and sarcastic comments that don't help. Sometimes you do have to be harsh and state cold hard facts to help but at least do it constructively.


It always amazed me how my friends who were students used to be able to do half of what they did. I was working full time from 16yrs and wasn't able to do half of what they did but then I did see some struggle and have to hold down 2 part time jobs just to be able to eat, study and sleep. I left my job because I become too ill to work and that was down to working double shifts because of staff cuts and a long standing illness that I due to have my 13th operation for and now if I hadn't have been able to move back home I don't actually know how I would do it on my ESA contribution based income. I have skilled friends who have to work a full time and a part time job to cover rent, bills, travel so there is no time to live beyond their means. I know what your saying is very true but for a lot of people that option just isn't viable. For me when I can finally get back to work I will need to be earning at least £2000 take home a month to cover rent, travel to work n back, utilities, rates and food to even think about saving.

dpjt

I had a loan with pay day uk which was ok all paid up in 2012, nothing owed i tried to get a car loan earlier this year to find on my credit report a loan from pay day express which i have never had (they are pduk sister company) this is what is hindering my report it say i took it out in 2012 and owe 616 pounds so i call them they say no i do not owe anything and i have not had a loan with express, i think ok thats fine but i want it off my report like yesterday, THIS IS THE DIFFICULT BIT i email them the page on my credit report about this as they asked it has now been 3 weeks i have emailed each day virtually since no reply help please anyone i need this off my report, i am away at the moment and it has ruined my hols

aliplim

i find they can be helpful if used sensibly i tend to use Cashxpress in hemel hempstead and online and have always found them reliable and fair

Ebe_Scrooge

Whilst I can appreciate that some people have used PDLs with no problem, I wonder how many people realise the damage they can do to your credit history ? Can make it very difficult to get "proper" credit in the future.

blessed31

I took a payday loan out with Quick Quid in February.. I only took it out because an emergency situation came up where I needed to get down south that very same day. I borrowed 100 and I wish I hadn't but there was no other alternative in the situation I was in. It was the first and it'll be the last.

[Deleted User]

blessed31 wrote: »

I borrowed 100 and I wish I hadn't but there was no other alternative in the situation I was in. It was the first and it'll be the last.

Why was that or daren't I ask?

blessed31

My babyfather went into a coma so I had to get down South in the middle of that week, I wasn't getting paid until the following week, so I went to QuickQuid. Also I didnt know that taking a payday loan out had a negative impact on the credit report to mortgage lenders until recently so I wont be using them again.

debrab

Just to let everyone know I have received a cheque for £217.51 back from Cash Genie for their underhandness of their pay day loans. Totally shocked as used them years ago.

[Deleted User]

debrab wrote: »

Just to let everyone know I have received a cheque for £217.51 back from Cash Genie for their underhandness of their pay day loans. Totally shocked as used them years ago.

Thank you for this news



Were you a default customer out of interest or did the actual interest payments you were making not match those of the t&c's or did you have extra payments taken from your account?


I just don't understand how nobody was checking these lenders calculations, I once caught another lender blatantly adding interest on so making it double of the interest paid but I'd be honest and say that only came about when I asked for a repayment plan

Zenboor

Ebe_Scrooge wrote: »

Whilst I can appreciate that some people have used PDLs with no problem, I wonder how many people realise the damage they can do to your credit history ? Can make it very difficult to get "proper" credit in the future.

What is proper credit?

In 2011-2012 I had 4 or 5 £100 PDL with PDUK and another in early 2014 for £400 with another company I can't remember the name!

In 2013 I secured a mortgage with Halifax (15% deposit) and now I have credit cards (Halifax, Santander etc..) with a total limit of £26k of which £8k is outstanding but on long term interest free.

It all depends on the rest of your credit history.