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my pdl story
scrimper88
Posts: 67 Forumite
Just thought I'd share my story from a year ago with other people stuck in the payday loan trap....
So over a few months I stupidly took out a few payday loans and each time one was due I found myself having to take out a larger one to cover the interest from the third one (sound familiar? )!
I realised one day when I got paid that enough was enough and I had to do something about it!
My first conquest was quick quid who were unbelievably helpful! !I currently owed 390 to quick quid and spike to someone on their live chat who told me because my account was not currently in default they could arrange a pre default payment plan which apparently every user is allowed one every 12 months. !Nothing would be taken the first month and then the remaining balance would be split across the next 4 or 5 months.
My next mission was won a who were hard work on the phone saying I had to default first (nobody wants this) and so I sent an email to their collections department explaining I had got myself into financial trouble and that I was looking for a payments arrangement to clear my debt and gave them an offer of paying my full amount (around 400) over 5 months... They sent me income and expenditure forms around nd around deter filling them out were happy to accept my offer and freeze interest.
Next was pduk who I spoke to on the phone and allowed me a 6 month payment plan to pay off my 300 I owed to them.... simple as that.
I then rang payday express who seem to have something to do with pduk (their collections department has the same number and the same horrible "on hold" music (which you be hearing a lot of should you try call them) they said they were unable to help without a letter from my employer informing them of lost hours, I said I didn't want to involve my employer as no one wants their work knowing about their money troubles! So I said could I not do it any other way by paying over 3 months and still paying the interest and they suddenly turned round and said "oh if your wanting to pay over 3 or less months we don't need employer verification that's fine" so if you can pay over 3 months I would advise this course with pd express!
Lending stream on the other hand were totally unwilling to help at all..... After a £20 phone call to their ridiculously backwards telephone service I was left with no joy and had to borrow the money from a friend.!
I just thought I would post this as I know personally how worrying it is when you have a lot of pdls and seem to be juggling them around!
The last of my pdls were cleared in may and I haven't taken any out since.
Payment arrangements show on your credit report and will have a negative impact but it's such a big weight off your mind when you get everything paid off rather than rolling over every single month and being stuck in their trap!!!!
My advice to anyone would be to NEVER get a pdl as I wish I never had... but if your stuck in the trap give it a go with approaching for an arrangement. !Just tell the truth and the worst they can do is say no!
Good luck and let us know how you get on with dealing with these monsters!
So over a few months I stupidly took out a few payday loans and each time one was due I found myself having to take out a larger one to cover the interest from the third one (sound familiar? )!
I realised one day when I got paid that enough was enough and I had to do something about it!
My first conquest was quick quid who were unbelievably helpful! !I currently owed 390 to quick quid and spike to someone on their live chat who told me because my account was not currently in default they could arrange a pre default payment plan which apparently every user is allowed one every 12 months. !Nothing would be taken the first month and then the remaining balance would be split across the next 4 or 5 months.
My next mission was won a who were hard work on the phone saying I had to default first (nobody wants this) and so I sent an email to their collections department explaining I had got myself into financial trouble and that I was looking for a payments arrangement to clear my debt and gave them an offer of paying my full amount (around 400) over 5 months... They sent me income and expenditure forms around nd around deter filling them out were happy to accept my offer and freeze interest.
Next was pduk who I spoke to on the phone and allowed me a 6 month payment plan to pay off my 300 I owed to them.... simple as that.
I then rang payday express who seem to have something to do with pduk (their collections department has the same number and the same horrible "on hold" music (which you be hearing a lot of should you try call them) they said they were unable to help without a letter from my employer informing them of lost hours, I said I didn't want to involve my employer as no one wants their work knowing about their money troubles! So I said could I not do it any other way by paying over 3 months and still paying the interest and they suddenly turned round and said "oh if your wanting to pay over 3 or less months we don't need employer verification that's fine" so if you can pay over 3 months I would advise this course with pd express!
Lending stream on the other hand were totally unwilling to help at all..... After a £20 phone call to their ridiculously backwards telephone service I was left with no joy and had to borrow the money from a friend.!
I just thought I would post this as I know personally how worrying it is when you have a lot of pdls and seem to be juggling them around!
The last of my pdls were cleared in may and I haven't taken any out since.
Payment arrangements show on your credit report and will have a negative impact but it's such a big weight off your mind when you get everything paid off rather than rolling over every single month and being stuck in their trap!!!!
My advice to anyone would be to NEVER get a pdl as I wish I never had... but if your stuck in the trap give it a go with approaching for an arrangement. !Just tell the truth and the worst they can do is say no!
Good luck and let us know how you get on with dealing with these monsters!
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Also forgot to add..... If dealing with companies on the phone always make sure you get confirmation email of the terms of your new agreement and also keep a log of any live chats etc just in case they go back on their word0
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