Pay Day Loan Advice/Questions

BlueGarnet

Hi

This is my first time posting here after reading through the forum it seems there are some nice helpful people on here..

I've been a fool and recently taken out 2 pay day loans, one with Wonga & the other being with Quickquid. I have some worries though, I've figured out how I'm going to pay back what I owe, it's just I don't want my mum most of all to find out as she will be fuming with me.

So this leads me to ask are letters sent out to me, should they come in private & confidential envelopes without the name of the company on there? Does anyone know from experience?

Also they shouldn't contact my workplace right if I'm paying on the agreed dates as set out in my contracts?

I have a basic bank account because of running up debt with my bank HSBC in the past which has now all been paid back, just because I have this type of account shouldn't cause any problems with them debiting my account right as long as the funds needed are available in my account?

I would be grateful for some responses to hopefully put my mind at ease

Thanks

McKneff

If they are paid when they should be paid then you shouldn't get any letters at all.

BlueGarnet

Thanks, not even any letters with my contract? I hope not, January sure is going to be a tough month but I have a plan in place and just need to stick to it.

Monkeyballs

Hi Blue,

Nope if you repay on time then it's all completed and maintained online with no letters or contracts being sent out to you.

Now just you be wary to get them paid and not use them ever again! Take this advice from yer uncle Monkeyballs

MB

McKneff

Monkeyballs wrote: »

Hi Blue,

Nope if you repay on time then it's all completed and maintained online with no letters or contracts being sent out to you.

Now just you be wary to get them paid and not use them ever again! Take this advice from yer uncle Monkeyballs

MB

And your Auntie McKneff ha ha


xx


Its a slippery slope, easy to get on but very hard to get off, good luck with it.

BlueGarnet

Monkeyballs wrote: »

Hi Blue,

Nope if you repay on time then it's all completed and maintained online with no letters or contracts being sent out to you.

Now just you be wary to get them paid and not use them ever again! Take this advice from yer uncle Monkeyballs

MB

Thanks, makes me feel a bit better knowing this, just got to keep my head down now at work and all this could be paid off by the 10/02/2014

Damn right I'm taking your advice

This is what I owe

QuickQuid

£41.30 due on 10/01/2014

£241.30 due on 24/01/2014

Wonga

£399.47 could be less if I pay a bit beforehand - promise date 10/02/2014

I'm picking up roughly £230 a week with at least over £175 going out over each month, could be more but I'm living with my mother. Just got to be disciplined now and learn my lesson. Can someone please now answer my question with in regards to me having a basic account, it shouldn't be a problem should it if the funds are in my account on the dates mentioned?

aimingforadebtfreelife

Wonga send a welcome letter in a plain white envelope - reminding you of the repayment date. You will also get about 2 texts a couple of days before its due.

If the basic account has a debit card linked to it - then no problem as that's how they will collect the payment from that card. They collect payment about 5am on the morning of the collection. If it fails they try 75% of the amount then smaller amounts if that fails. If all goes well you get another text to say Thank You.

McKneff

You'll be fine lol.


Good luck, and its nice to know that you luv your mam so much.






xx
Annie x

Monkeyballs

aimingforadebtfreelife wrote: »

Wonga send a welcome letter in a plain white envelope - reminding you of the repayment date

Really? I never had this and I've had plenty from them in the past...

MB

BlueGarnet

I should still be alright, my one concern at the moment though would be the amount of SPAM txt messages I'm receiving and what personal details they have of mine, it may well mean me having to change number soon before or after I've paid off my payday loans.

BlueGarnet

Sorry to bump this thread but I need some further advice, it's a bit long winded..

Today I decided to check my credit report for the first time out of curiosity using Equifax UK which I found good and informative. My score is showing as poor, I have no defaults, my payment history shows that I have previously been 3 payments in arrears and this is very poor. I think this is nonsense, everything else is either showing as good or excellent. I don't mind being judged but back in August when I was out of work I withdrawed £500.00 unauthorised with HSBC and spent it all on gambling. I'm going to try and seek professional help again in that respect as it's out of greed and it's a illness I'm struggling to control. I don't need to be told I'm a mug because I tell myself that. I still haven't learnt my lesson though, it's only hit me today so I'm going to try going forwards rather than backwards. Going back to the point, a payment plan was sorted out and it was agreed I would pay back roughly £194.00 a month running over 3 months. This just wasn't ideal being on JSA so I went back to the bank to discuss my concerns, the woman I was speaking to was great as she managed to freeze interest & charges for me. It was then agreed I would pay back the minimum of £20.00 a month. So I did, In fact I started paying more as I got myself back into the world of work and I cleared it all in November. I don't understand how & why 3 payments in arrears is showing, it's trashed my credit report. What I really want to know is how do I go about disputing this as I feel this is unfair?

With respects to the pd loans I have had, I should be clear from QuickQuid on Friday My concern is with my Wonga loan, can anyone kindly explain how going about extending it works? It's certainly not ideal but I may have to extend it for 1 or 2 more weeks if accepted.

Thanks