Never thought this would happen to me....help!

youknowthis123

Hi Everyone!

Well, sometimes you've just got to keep your head down and get on with life, and let your DMP do its job! That's excatly what I've done since my last post over a year ago. It's been ups and downs, but then again, everyone has them, even those without debt. My commitment to getting debt free has wavered at times, but I always bring it back around. I've also managed to make a couple of lump payments and arrange some full and finals. Last time I posted (March 2015) I was somewhere around £6k in debt. Now at the time of writing I'm at exactly £3k pounds. I really feel that I can see the finish line now. My payday loan balances have come down a lot. This will certainly not be my last post, and I still have my work cut out to clear this balance. However, anyone starting on their journey to being debt free should know, that it is never impossible to improve your situation, no matter what you owe. Anything paid off a debt is something. Please never think that you're in a hole you can't get out of. Although the payday/loans industry is not perfect, it has come a long way, and we are protected. Have faith in this site, and the experience of it's users, and listen to their advice, it saved me. Thanks to all, and here's to smashing that final £3k out of the park!

YKT :beer:

youknowthis123

Quick update, worth reading if you have outstanding Payday Loans:

I wrote to all my outstanding payday lenders (and some with whom the accounts have already been settled) asking firstly for a full statement of accounts. I worked out how much interest and fees I had been charged, as well as how many roll overs I'd had on each account, and put forward a case for each claiming they had given me unaffordable loans. Demanding a refund of interest and fees, and at the very least for them to wipe my balance and remove the defaults from my credit file. Here is how it went:

I made 10 complaints in total. 6 of which have been successful and resulted in my balances being wiped and defaults being removed. 3 of which were rejected (I'm referring them to the Ombudsman. In addition I have been paid 700 GBP in total compensation (in the form of fees and interest being returned.) I have one complaint still outstanding (Swift Sterling, based in Malta and legendary in their delaying tactics! I will persevere).

Anyway, this has obviously caused my outstanding debt total to come down even further. I'd love to say I had paid all the compensation off my debt, but unfortunately I needed most of it for my living costs which are stretching me at the moment, but I've manged to use a couple of hundred to pay debt off further. This is just really for anyone who is considering complaining, or not really aware that you can complain to go ahead and do it. I didn't really think I had a case but as I looked through the money I have actually paid out to these companies, v.s. the original loan amounts, I was astounded!

Anyway check my signature for current balance, I'm getting oh so much closer!

Keep it real,

YKT!

youknowthis123

Hi all,

Latest update, more creditors have settled with me, and now im down to 1.5k total debt, I'm getting so close now. My DMP will have this cleared by Next summer, but with a few lump payments which I'm intending to make, I'll be debt free by the spring. I'm aiming for March/April time.

The end is in sight! Keep the faith!

James

leespot

Having once been in a bad place with debt when I was younger, the one thing that I can still remember is the feeling of making that last payment and the feeling of instant relief. Best of luck to you for the future! :beer: