Stupid lad with payday loan problems

Stuck_22_year_old..

Apples2 wrote: »

Where you working when you took your first loan?
Didn't you get any severance pay when you lost your job?

If you aren't earning an income, you aren't entitled to mobile phone contracts, cars or anything else which needs paying for.
Cut the outgoings, this debt you are piling up will get larger and larger until you do something about it.

Who are the loans with?
Some respond better than others but they are all well used to people saying they have jobs in the application but in reality don't work a single hour a day.

There must be a link between taking a payday loan and mysteriously becoming unemployed just before payment day. It's even worse as there is never any redundancy pay....... Truly weird.

Yea was working at the time of the first loan, but it was only through an agency so it didnt last as long as i thought it would have.

Loans were with paydayuk and peachy loans.. Im gonna have to ring them just and see if they have any other options for me to repay it back ..

DCFC79

Stuck_22_year_old.. wrote: »

Loans were with paydayuk and peachy loans.. Im gonna have to ring them just and see if they have any other options for me to repay it back ..

Like I said it will be a repayment plan, you might have to default first before you can go onto 1.

dealer_wins

Yeah, lets all get a payday loan to be repaid on our make believe payday.

Seriously OP either you are a wind up, or a fraud who takes out a commitment to repay when you know you cant repay!!

Lets hope you dont need credit/mortgage in the foreseeable future!

matttye

Stuck_22_year_old.. wrote: »

i dont' really want to get another payday loan out .. but to be honest it seems like the only solution

Pretty sure Fishingtime was being sarcastic.

It's not the only solution; in fact, it's not even a solution. It will just make the problem a whole lot worse.

Think about it this way. If you can't pay back your current payday loan, how will you pay back a bigger payday loan with more interest next month if you haven't got a job by then?

Here's what you need to do. Write to your bank by recorded delivery removing your permission for all of the PDL companies you've borrowed from to take money from your account using their continuous payment authorities. Your bank is then legally obliged to refund you if they allow any money to go out.

Then e-mail or write to the PDL's telling them you can't afford to pay back the loans as agreed and that you need to arrange a repayment plan. Always deal with such things in writing as if you speak to them by phone, you have no proof of the agreement and they will often deny having made one.

It's always a bad idea to borrow more to pay off debts. Don't do it.

Hope you manage to get it sorted

Dimey

Stuck_22_year_old.. wrote: »

i dont' really want to get another payday loan out .. but to be honest it seems like the only solution

They're winding you up. Don't get another Pay Day loan.

The reason they're winding you up is because you've been daft enough to get 1 Pay Day loan, then you've been even more daft to get a 2nd Pay Day loan.

Sell things on Ebay or a boot fair to raise cash and pay the loans off. Tell the companies you're now unemployed and try to get a payment plan that will not penalise you when you pay off in full the first month you get a job again.

Find a temporary bar job or something to get income while you look for another full time job.

See if your parents will lend you an interest free loan to pay off the loan companies. Instead of paying your parents interest - do work on their home eg. gardening, repairs, painting. Make sure you pay your parents an agreed sum every week or month without fail till the loan is paid off. And promise them you'll never do it again.