QuickQuid, Wonga, Mr.Lender Debts

badatmaths

Thank you guys for your advice. But I am still not sure. Really worried to be honest. I checked my employment contract last night and it states that " The employment may be terminated without any notice if you are declared bankrupt or make any arrangement with or for the benefit of your creditors or have a county court administration order made against you under the CCA 1984."
What does this mean? I am really scared now. I work in a financial company and had a good credit history when I started this job. If I get into DMP would I lose my job or would I lose it anyway if the debt keep getting piled on??? really nervous... I am gonna ask for some help from a couple of friends but it is unlikely they would be in a position to help me as I know whats going on in their lives at the moment. But I will have to see:mad:

Also went to a few interviews as I wanted to get a high paying job as I realised I was getting in trouble with the wages I was on. Just hoping I get a job offer as it would sort everything out easily.

sourcrates

badatmaths wrote: »

" The employment may be terminated without any notice if you are declared bankrupt or make any arrangement with or for the benefit of your creditors or have a county court administration order made against you under the CCA 1984."
.

Well it means what it says unfortunately, if its just the payday loans that are worrying you, my advice would be to make arrangements to pay each of them yourself, without getting into a formal DMP, most allow you to make payment arrangements online, from there websites, others you may have to negotiate with, but the quicker you can repay these the better, and your employer will be non the wiser.

patman99

Badatmaths, how often does your employer check your credit history ?. They may never check it. In which case, entering a DMP or a temporary payment plan and not telling them would not come back to haunt you so long as you keep your mouth shut.

Stepchange don't contact your employer, so they would not be alerted to your financial problems. If you don't enter into a payment plan, then there is a large chance one of your creditors will take you to Court and obtain a CCJ anyway and at this point your employer may well be alerted to your problems.

Candy0107

sourcrates wrote: »

Well it means what it says unfortunately, if its just the payday loans that are worrying you, my advice would be to make arrangements to pay each of them yourself, without getting into a formal DMP, most allow you to make payment arrangements online, from there websites, others you may have to negotiate with, but the quicker you can repay these the better, and your employer will be non the wiser.

Do you have a confidential employee assistance helpline or can you speak to hr ?

A couple of years ago, I wanted to get aat membership, but my application had to be manually checked. When I called the aat to discuss this, they wanted to know what I had spent my money on (unemployment, death of a parent and still trying to pay my bills rather than cars, shoes ad handbags). I had to get a statement from stepchange showing how much I had paid off and how much I had to pay, but thankfully it all worked out in the end :-)

Hope this helps
Candy xx

badatmaths

Hello everyone, thanks for all your help on this matter. It really assisted me in deciding which way to go. I thought I will post here what has happened in the last 2 months. If anybody else is in the same situation and they want to know what happened next. Mr Lender posted two letters offering to settle the account without any interest at all. That was £250 that I originally borrowed. It was really difficult but I managed it and it is now paid off fully. Wanted a confirmation on a letterhead but they only sent an email stating "Your loan is settled in full. As a valued customer you are now eligible to borrow more money. Just click on the below link to find out more."
As if the lesson was not learnt the first time :laugh:

And I have sent all my creditors the income and expenditure forms making my offer. They are not agreeing to it at the moment as the amount offered by me is too low. I cannot afford any more. Lets see what happens there.

And I am still looking for a better paid job as I did not get the other one I was interviewed for.

Thanks again for all your help. :wave:

Puddylove

badatmaths wrote: »

Hello everyone, thanks for all your help on this matter. It really assisted me in deciding which way to go. I thought I will post here what has happened in the last 2 months. If anybody else is in the same situation and they want to know what happened next. Mr Lender posted two letters offering to settle the account without any interest at all. That was £250 that I originally borrowed. It was really difficult but I managed it and it is now paid off fully. Wanted a confirmation on a letterhead but they only sent an email stating "Your loan is settled in full. As a valued customer you are now eligible to borrow more money. Just click on the below link to find out more."
As if the lesson was not learnt the first time :laugh:

And I have sent all my creditors the income and expenditure forms making my offer. They are not agreeing to it at the moment as the amount offered by me is too low. I cannot afford any more. Lets see what happens there.

And I am still looking for a better paid job as I did not get the other one I was interviewed for.

Thanks again for all your help. :wave:

Thanks for the update - and good work so far. :T
Your creditors will just have to accept what you can afford - I'm sure they'll come round eventually.
It's a shame you didn't get the job - but I always view it as useful interview practice for the next one.
Onwards and upwards!

thewhiteavenger

badatmaths wrote: »

I checked my employment contract last night and it states that " The employment may be terminated without any notice if you are declared bankrupt or make any arrangement with or for the benefit of your creditors or have a county court administration order made against you under the CCA 1984."

That phrasing comes from the bankruptcy petition form.

When I asked if a dmp meant that I had 'made an arrangement with or for the benefit of my creditors' my local court said no, as a dmp was not a formal arrangement.

badatmaths

Really? That's a relief.Thanks for clearing that confusion.:T

[Deleted User]

I'd suggest posting an SOA, so we can see if you can make some economies, thereby giving you more money to put toward your debts.

badatmaths

I have spent so much time in calculating how much money I have left every month after the essentials are paid off and its not that much.

As my ID suggests bad at maths, it has not been a nice experience to do the calculations again and again and every time getting different results.:mad: Anyway it has been done and I am satisfied by it that I will be managing those payments every month.

QuickQuid --> agreed £9 a month
Aqua card --> agreed £6 a month
Wonga --> rejected the offer of £6 a month
Capital One --> asked for 3 months payslips and bank statements which had been posted to them (am offering them £8 a month)
Very catalogue --> didn't acknowledged my Income and Expenditure form (offer was £8 a month) and asked me to get a financial statement from one of the debt management organisations (what if I don't want to go down that route, I can manage myself. Then I was told that I could get a financial statement from either Stepchange or some other organisation's website with the letterhead without them getting involved in it---which I couldn't find on their website.)

Any suggestions in this regards, what do to about Wonga and where can I get an online form to fill in with my income details and it would have that organisation's name on it as Very said they would accept that.

Many thanks