Dealing with Payday Loans

lantanna

What are you going to do?

I really don't get why they won't let people pay by standing order. Its frustrating.

I'm definitely not giving them my card number.

I don't know whether to contact them or not. My address has changed but not my email or phone number. They could be writing to me at my old address.

Aaagh

Sinhanada

marilyna wrote: »

I have 7 Payday loans.

1. Pounds to Pocket
2. PaydayUK
3. Swiftsterling
4. Mr Lender
5. Quickquid
6. Moneyshop
7. Speedloan

I decided to get on top of things, when one of my PDL's did not reloan this month. It is sobering realising how long I have had some of these PDL's and how much money I have thrown away. I have never defaulted on any of the loans, but now have to, to get my life on track. The end of every month was a constant juggle, and most of the time I paid all my PDL's back in full, then reloaned. A few of them I would roll over. Have written to most explaining my situation, defaulted on two yesterday, and am waiting for them to contact me.

PaydayUK and Pounds to Pocket have come back to me with proposals. Pounds to Pocket have said they will not accept standing orders or giro slips. I will not give them my debit card details.

Swift sterling, won't discuss anything in writing at the moment, and I won't speak to them on the phone.

Have any of you had any success with any of these companies?

Did they freeze interest when you paid them back?

I had four payday loans when I first entered into my DMP. It was due to Wonga not giving me another loan that made me wake up so I can only empathize with the sickening feeling in your stomach when this happened

By far the most aggressive and painful to deal with was Wonga. Despite contacting them and trying to make arrangements my loan total of £580 quickly escalated due to their charges to £1300.

Poundstillpayday and Quickquid were the most understanding and froze all charges straight away.

I can see one post on here has recommended changing your bank accounts. I cannot stress how important this is. My other piece of advice is report your current bank card as lost and have this replaced immediately.

Next contact an organisation like Step Change or another company who deal with helping to resolve debt crises like this. They will give you letters and advice on how to deal with them. It would also be prudent at this point to make a token payment to each of your creditors. As it's a token payment it can be as little as £1 but it is showing your willingness to try and resolve the situation.

Best of luck, but breaking the cycle of Payday loans is really quite liberating!

marilyna

lantanna wrote: »

What are you going to do?

I really don't get why they won't let people pay by standing order. Its frustrating.

I'm definitely not giving them my card number.

I don't know whether to contact them or not. My address has changed but not my email or phone number. They could be writing to me at my old address.

Aaagh

They want to be in control and empty our accounts. I will not give them my card number either.

So, unless they accept a standing order, nothing is going to happen. I think once it goes to debt collection, it changes. Maybe someone who has dealt with them can let us know.

I would say wait until they contact you, as you have contacted them before right?

marilyna

Sinhanada wrote: »

I had four payday loans when I first entered into my DMP. It was due to Wonga not giving me another loan that made me wake up so I can only empathize with the sickening feeling in your stomach when this happened

By far the most aggressive and painful to deal with was Wonga. Despite contacting them and trying to make arrangements my loan total of £580 quickly escalated due to their charges to £1300.

Poundstillpayday and Quickquid were the most understanding and froze all charges straight away.

I can see one post on here has recommended changing your bank accounts. I cannot stress how important this is. My other piece of advice is report your current bank card as lost and have this replaced immediately.

Next contact an organisation like Step Change or another company who deal with helping to resolve debt crises like this. They will give you letters and advice on how to deal with them. It would also be prudent at this point to make a token payment to each of your creditors. As it's a token payment it can be as little as £1 but it is showing your willingness to try and resolve the situation.

Best of luck, but breaking the cycle of Payday loans is really quite liberating!

My story is similar. I paid Wonga back in full, they would not reloan, and it set everything else in motion.

I have a new card now, and my wages go elsewhere, did that all weeks ago.

I wrote to all of them the day I defaulted. PaydayUK are the only PDL that have accepted my repayment plan.

Quickquid, Pounds to Pocket want me to give them debit card details. Mr Lender are ignoring my letter. Swift Sterling insist it must be discussed on the phone. Speedloan have refused my offer. Have not heard from the Moneyshop yet.

How did you pay Quickquid?

Or Stepchange pay them all for you?

Sinhanada

marilyna wrote: »

I don't know the procedure for CCJ. Maybe someone can come on and advise. Sometimes I think you just get something in the post to fill in. Hopefully someone else who has had PDL's with them can advise.

I just got this from them this morning, ignoring my letter saying I would only pay by standing order.

Thank you for contacting us to inquire about how to pay off your balance. The payment plan we can offer is detailed below.

Remaining balance for future payments in payment plan (£) £137.02
Amount (£) of the first payment £27.42
Amount (£) for each of the remaining 4 payment(s) £27.40 via debit card ending XX.

Starting 25/09/2013, please be advised we are unable to skip months in payments.

Payments will become due at the same frequency as your paydays if nothing else is stated in this communication.

To update a Debit Card please provide the Card type, Card long number, 3-digit Security Code, Card Expiry Date and the Address Linked to the card.

To confirm your agreement to this payment plan, please reply to this email stating that the terms are favorable. You must include the original email with the terms to which you are agreeing in your response. Once we have heard back from you, we will set up the agreed upon debits to come out of your bank account or be charged to your debit card.

Collection procedures will continue until an acceptable payment arrangement is made.

If you have any queries, our Collections Department is here to help.

QuickQuid Collections Department
Direct Line: 0808 234 4561
Fax: 0808 101 1381
Collections@QuickQuid.co.uk
https://www.QuickQuid.co.uk

Call free from landlines. Mobile phone companies may charge up to 40p per minute.

Terms and Conditions apply. All loans are subject to status and affordability checks prior to approval. All applicants must be 18 or over.

My advice would be to get a pre paid card and load the money onto that each month - if you are indeed in a position to accept those repayment terms. That way they can only get the money off as they have suggested.

My dealings with QuickQuid were fairly good and they did honour their side of the agreement, however they're now dealing with Step Change on my behalf!

lantanna

Yes I have contacted them many times offering them a standing order for £30 a month which I think is very reasonable on a debt of £320.

I just don't want to be slapped with a CCJ when I am trying to clear my credit file.

I am hoping that they have sold the debt and someone else will be in touch soon re it.

They accepted 18 months of a standing order though Step change. I have had no problems with them until I went self managed and then they wouldn't play ball at all. Its very difficult to even get a response of them.

Sinhanada

marilyna wrote: »

My story is similar. I paid Wonga back in full, they would not reloan, and it set everything else in motion.

I have a new card now, and my wages go elsewhere, did that all weeks ago.

I wrote to all of them the day I defaulted. PaydayUK are the only PDL that have accepted my repayment plan.

Quickquid, Pounds to Pocket want me to give them debit card details. Mr Lender are ignoring my letter. Swift Sterling insist it must be discussed on the phone. Speedloan have refused my offer. Have not heard from the Moneyshop yet.

How did you pay Quickquid?

Or Stepchange pay them all for you?

Stepchange did them all for me. They were absolutely brilliant. My first contact with them discussed the basics and they sent me template letters to send to each creditor with a token payment.

I then contacted StepChange again and discussed my budget in detail and we arranged what could be payed. They then wrote to each of the companies involved and advised that they looked after the account and started the repayment plans with them. I paid Step Change my budgetted amount each month and they divided the money up between the creditors.

Every once in a while the debt would be sold on and I would receive a letter from the new debt collection agency. I'd call them, give them my reference and notify SC. They would then transfer that payment to them.

All in all a simple process and from a charity that doesn't charge an admin fee. No lose deal imo

marilyna

lantanna wrote: »

What are you going to do?

I really don't get why they won't let people pay by standing order. Its frustrating.

I'm definitely not giving them my card number.

I don't know whether to contact them or not. My address has changed but not my email or phone number. They could be writing to me at my old address.

Aaagh

Received this from them today

*Thank you for contacting QuickQuid. Please be advised that we have not received a request to cancell the continuous payment.

The acceptable payment methods used by Quick Quid are: Bank Account, Debit Card, Bankers Cheque or Cashiers Cheque. Unfortunately, we do not accept PayPal, standing orders, giro slips, credit cards or provide an account number that you can make cash payments into.

If you have any queries, our Collections Department is here to help.

QuickQuid Collections Department
Direct Line: 0808 234 4561
Fax: 0808 101 1381
Collections@QuickQuid.co.uk
https://www.QuickQuid.co.uk

Call free from landlines. Mobile phone companies may charge up to 40p per minute.

Terms and Conditions apply. All loans are subject to status and affordability checks prior to approval. All applicants must be 18 or over.

QuickQuid is the trading name of CashEuroNetUK, LLC. CashEuroNetUK LLC is a Limited Liability Company incorporated in the United States. Head Office: 200 W. Jackson Blvd., 14th Floor, Chicago, IL USA. Correspondence Address: 483 Green Lanes, London, N13 4BS. Consumer Credit Licence #: 603395.
Loretta G

Maccie

I'm quite pleased with the experience I had with QuickQuid today. Last year I took a £50 loan from QuickQuid after seeing an ad about them. Like so many others, the £50 turned into £100 then to £200 etc etc...this month I owe them £810 ....every month I have been paying back the loan then taking one out straight away to cover it...such a horrific cycle!

I have been sick with worry about this so found myself here browsing through this thread saw "repayment plan" being mentioned. I emailed Quickquid last night with my woes and they replied 4 hours later - they were very friendly and sympathetic but advised that I would need to call them or go to the online chat to discuss this further. After 5 minutes on the online chat today they set up a plan of £202 every month for the next for months with no further charges to accrue. I was so happy I actually had tears! The repayment is quite high but it was myself that requested it as I am working loads of overtime so know that I can pay it. Plus no more payday loans as I don't need to roll it over this month!

I despise payday loan companies now but really am pleased that QuickQuid have been so helpful to my situation. It had never even crossed my mind that they would agree to a repayment plan so thank you to this forum for that info and hopefully my post will pay it forward and help someone else. Hope all of the posters in this thread get sorted too.

marilyna

Received from Mr Lender today

[FONT=&quot]Thank you for your reply.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]You have requested that we remove the debit card held on your account ending in ().[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]As per the loan agreement you will remain liable for all sums due under the agreement and will need to pay the outstanding balance on this account using another payment method. Please provide an alternative payment method you will be using.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]If you fail to make a payment on the due date for the agreed amount, your account will be placed in overdue status and we will charge you £20.00. If we have to write to you about your breach of agreement we will charge you £20.00 and if we have to serve you with a default notice we will charge you a fee of £20.00. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Your account will, at this point, be automatically entered into our collections cycle where you will be contacted on all numbers provided upon application using all other forms of contact including text message and email.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Your account will also continue to accrue interest at the agreed rate. We do suggest that you maintain an active debit card on file to avoid your account being placed into overdue status in the event of non payment.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Please confirm your mother’s maiden name and password on the account to agree to these terms.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Once we have received the information requested, we will remove the card from our system. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]We will now make a note on your account that you wish to be contacted in writing only. [/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]We are sorry to hear that you are struggling financially and would like to set up a repayment plan on your account enabling us to freeze the interest on your loan and allow you to repay the remaining balance in monthly instalments.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Please see attached an income and expenditure form, once this has been completed by yourself and returned to us we can then asses your position further and offer you a suitable repayment plan.[/FONT]
[FONT=&quot] [/FONT]
[FONT=&quot]Jessica[/FONT]
[FONT=&quot]Customer Services Manager[/FONT]