Not sure what to do now!

YourRealName

Earlier this year I made this post

forums.moneysavingexpert.com

showthread.php?t=4862180&highlight=

Sorry can't make it a link, I'm too new


In brief my step daughter got herself into debt with payday loan companies.

Things we did
Chased the companies that changed a fee - Got some of it back.

Wrote to the main companies she owed money explaining the situation asking them to stop interest.

Went to the CAB they gave her a income and expenditure form to fill in and mail off to the companies.
We worked out what she could afford each month and proportional split up what she pay to each one.

Everything was sent recorded delivery and signed for.

Nothing seems to have happened, we have been back to the CAB - they were not a great deal of help.

She has now had Pounds to Pocket say that she owes £500 when it was £300 - They have added interest
Wonga and quickquid are also still adding interest.


What should I/we do now ?

Martyn

jonesMUFCforever

What is the total debt owed now?


Has she got anything to sell to offset against some of the debt.
Has she cut out all unnecessary spending from her budget?


Has she made token payments to the loan companies?


If bank of mum and dad can't help it may be best if one of them takes her to court and obtain a ccj. She can then show the court her budget and they will determine how much she will have to pay.


Sorry no good news to offer you.

longtermplanner

Here is your previous thread : https://forums.moneysavingexpert.com/discussion/comment/64319435#Comment_64319435

longtermplanner

what is the total debt now? How much can she pay back each month? is tshe making these payments? is she paying you rent at the moment?

sorry for all the questions...

BrassicWoman

point her to these boards to get advice for herself; that is part of dealing with the problem too!

YourRealName

Answering all the questions.

Has she got anything to sell to offset against some of the debt.
No
Has she cut out all unnecessary spending from her budget?
Yes - It's only transport/to from work, lunch and 'boarding money' she pays her mum

Has she made token payments to the loan companies?
She can't - She doesn't know who to pay it to

Could mum and Dad pay it off
Read the previous thread - done that once - not again


She is all set up to pay them back - We worked it all out the money she has left over each month divided across each of her debts.

We sent her income and expenditure details, how much she could pay each of them to them in January. (Recorded delivery and it was all signed for)

It feels like they have just ignored all that and dragged their feet just so they can add interest.


Martyn

chesky

You should never sit back and just wait for them to get back to you in this situation. If you have made an offer, you should be paying that amount every month, regardless of whether or not they reply.

jonesMUFCforever

...........So how much does she have now saved bearing in mind its April?

[Deleted User]

Have you seen this
https://www.moneyadviceservice.org.uk/en/articles/problems-paying-back-payday-loans
Very good if I can sayso myself
Aside from waving the signed for recorded delivery in the face of the lender, your looking to make complaint as next step if you feel ignored and want a situation update, it maybe the account/s are being prepared to be passed to a debt collection agency, the only way to know for sure is to check in with the lender

jmhgibson123

she should be phoning and making some form of payment to who ever she owes to, or do it online but unfortunatley they are not required by law to stop intrest so its best to get paying as quick as possible even a small amount will show willing