advice on payday loans

holycrosser

another plonker, but ive got a way out so i'm looking for the best advice.

i owe payday express £748 and wonga £1200 as of today as ive just taken out the loans to survive, usual spiral

im intending on not paying them as i cant by the time they are due mid month.

ive got a santander current account i dont really use so im going to get my wages paid into there and close my 2 other current accounts in the first week of the new year.......is this the right thing to do?

now so you don't think i'm a complete moron i'm going to offer : end of jan £40 each , same in feb, and because i get £2500 bonusin march i will offer to pay the baalnce of both off in full.

do you think both of these companies will accept this ( i can't ask them yet, too early) just trying to get advice as to the likely outcome.

and yes i'm an idiot but it's my only way out of this, and i will be paying them in full.......are the likely to freeze the interest?


hopefully this will be the end......it's a horrible trap

sniggings

it doesn't matter if they don't accept it, nothing they can do about it...apart from add their charges, it's worth putting the offer to them so you keep them on side and you never know the charges might be reduced if they are not sending out letters etc worse thing they can do is charge you want you have already agreed they can for late payments, just keep openning the letters, I doubt you will get a court date in the matter of 2 months but just watch out you don't , if you do turn up to court and tell the judge what you have offered, s/he will be more than happy with that and likey give wanga a ear full for not accepting it.

Just to be clear, I doubt it will go that far in 2 months, especially if you keep in touch.

bigadaj

OP the change to the Santander account should be fine assuming that the other accounts arent with them, if they are then you should ideally have n account with a different banking group, or at least a. Different bank.

Might be useful to do a statement of affairs to track spending, the debt free board might be a good place for you to have a look around.