DMP & Mutual Support Thread - Part 10

CloudStrife

With my main creditors being PDLs, and being stuck in them for years I dread to think how many times I have either rolled them over or took at a new one straight after paying them off. I think last time I checked my credit report it displayed a hideously high number of 35 loans with wonga alone. I know the onus is on myself for being a responsible lender but when stuck in the cycle and especially when gambling was involved, it was far too easy just to take a new loan out without any questions or a suggestion to speak to someone for financial help. Due to my DMP now being in place and even though my main PDL creditors (wonga, quickquid and poundstopocket) have insisted they are yet to hear from stepchange (SC have told me it will take a few weeks to process on their systems), I am happy just to pay my debts off this way. I just hope in the future PDL companies realise that someone who is continually taking out loans is not financially in a good way, and direct them towards a debt charity before it gets any worse

getting_my_life_straight

Monkeyballs wrote: »

Morning Ghost,

I think if you made a claim you'd really have to have had loans rolling over and over for months on end (even Cheque Centre kept the first 5 months interest), I'm not sure that anyone (myself included) would have much success with any mental issues caused although it could be added to the complaint for flavour on top of making it clear that you were in and it worsened your financial hardship...

As for not checking income & expenditure, I think in branch they should be responsible but online then the onus is on the customer to provide accurate information... But that's just my thoughts on the matter.

Bottom line is, you don't really have anything to lose I guess but I'd suggest looking to try one or two who you feel most confident about to test the waters.

Hope this helps?

MB of G x

hi there, when you talk about rolling over loans, I had multiple PDL's , at one point one I had was automatically rolled over for 12 consecutive months at one point - even though on their website it stated about a maximum number of 3 roll overs allowed. Also if you wanted to clear the loan at any point you had to log in to your account and selct this option rather than opt in to roll over (if you get what I mean). I was stuck in a very dark place with these loans and even had more than one loan with some companies at times. Other companies that did not allow roll overs allowed me to reloan about 1 hour after paying off the old loan off. I was never asked for proof of income and expenditure at all. I am now luckily out of the cycle of these loans, but even after going on a DMP, clearing them, I still get text messgaes, emails etc offering me a loan. Hardly responsible lending.

ghostmadlittlemiss

Wow, that's one heck of a discussion I've started! :eek:

I just want to say to monkeyballs that I honestly didn't mean to seem like I was devaluing the horrible way way you were treated by seeming to just jump on a reclaiming bandwagon. My actual thoughts were that you were incredibly brave to have even tried putting claims in in the first place and that that was really inspiring and that I wondered if there was any way that I could ever find the same courage myself. I'm sorry for not putting some of that in my original post as I see now that it came across as seeming like I was thinking, "Oooh, someone got money. I want money too!" and I apologise for that.

Now that I've had a think about it and read everyone else's posts on the matter, I think I'll leave it for a month or two and see how I feel then. Tbh, I already have a couple of other legal problems that I need to get the ball rolling (or rolling more) on, so I should probably focus on them for the time being, rather than adding something else to my ever expanding to-do list. I've got a claim with HMRC re a previous employer breaching the minimum wage act by requiring employees to be on site for a certain time but not paying us until we were clocked on, sometimes up to an hour and a half later (that's waiting on an investigator to be assigned to it and I need to chase it up by phone soon as I haven't heard anything off them in several months) and I need to contact CAB's consumer helpline tomorrow (bloody 0845 number :mad:) to get advice on a sub-standard job a mechanic did on the car I used to own (I've given it to my dad now) and the fact that he tried to scam me into paying for a full engine rebuild when there was nothing wrong with the engine at all! :mad: It backfired on him though as I didn't have that kind of money. So I should probably concentrate on those problems first.
Kayleigh

CloudStrife

getting_my_life_straight wrote: »

hi there, when you talk about rolling over loans, I had multiple PDL's , at one point one I had was automatically rolled over for 12 consecutive months at one point - even though on their website it stated about a maximum number of 3 roll overs allowed. Also if you wanted to clear the loan at any point you had to log in to your account and selct this option rather than opt in to roll over (if you get what I mean). I was stuck in a very dark place with these loans and even had more than one loan with some companies at times. Other companies that did not allow roll overs allowed me to reloan about 1 hour after paying off the old loan off. I was never asked for proof of income and expenditure at all. I am now luckily out of the cycle of these loans, but even after going on a DMP, clearing them, I still get text messgaes, emails etc offering me a loan. Hardly responsible lending.

its only a matter of time before this way of irresponsible lending is going to be stopped when the government realises the amount of people who get themselves involved and caught up in such a terrible cycle like myself and so many others have. even though I am only young (23), i am aware of so many of my peers who continuously use the likes of wonga, and its down to how easy it is to attain the money, i wouldnt be surprised to see many young people like myself stuck in a financial mess in such early life

Puzzcat

Mb what have you started....where has the dmp thread gone? Can we go back to donkeys in stripey stockings now....

ghostmadlittlemiss

Puzzcat wrote: »

Mb what have you started....where has the dmp thread gone? Can we go back to donkeys in stripey stockings now....

Think it might be my fault rather than his, tbh...
Kayleigh

Monkeyballs

LOL

This is what I mean by contentious! If one thing is going to get folk talking then it's going to be payday lending but this is a DMP support forum first and foremost

I've already had half a dozen people PM me already which is fine as I'm always happy to listen and try to help - I've not much better to be getting on with at the moment as those who know my current circumstances will understand

Ghost, GMLS, CS I'm like a Rhino... Very thick skinned so I don't get offended easily (and when I do I make jokes rather than get angry! LOL, oh... am I angry or offended now? Nahhhhh).

Ghost, thank you for the words but I would never have dreamt of complaining but for a post by a chap going by the name of SimonP96; https://forums.moneysavingexpert.com/discussion/4965788

Before I read that I just assumed that I'd done the damage to myself but I took a punt and it worked out

Have a read of that post, a few people slated the guy for irresponsible lending so it's a good read to see how peoples opinions can be divided - there are plenty of folk with debt who think others should take full responsibility for their debts regardless of circumstance, it's not just those perfect people who have never been in debt who judge

And just for my mate Puzz, this is for you babe, back in our youth growing up together...



MB of G xxx

Monkeyballs

Oh, and btw. while this post made me think to put a complaint in I do think he glamorised his original posting a bit by referring to it as a victory...

MB of G x

gettinggoing

Hi. I am just about to start on my DMP with SC - am feeling frightened and relived at the same time. This forum has been incredibly useful in terms of getting information and top tips - thank you. I have set up a new bank account and then need to transfer direct debits etc over.

Can I just ask a couple of questions...

Had anyone every had doorstep collectors from the major credit card companies/banks etc?

Would it be a good idea just to pay a token amount for payments next month whilst SC set up my DMP etc?

A lot of my debts (about £24000) are with Barclays. We have a joint mortgage with them which is up to date. Is there any chance that they will close our mortgage or anything as a result of me applying for a DMP? The DMP and debts are all in my name .

Thanks in advance for any help with these - hopefully they are just me worrying but they're niggles that are stopping me from signing and sending the paperwork off.

Kate_fixing_it

I'm actually glad we had the PDL discussion - especially in such a non-accusatory way. As MB says it's such a divisive subject to discuss and as it's been said it shouldn't be about "winning", these companies have taken advantage of the taboo nature of the subject. If any of this discussion helps one person see past the blind panic of the moment then we've done something wonderful here. (And we've all been very grown up about it )

I think it might be worth a letter Ghost (my stance has changed a little) if for nothing else other than to raise awareness. The FOS sees the majority of their complaints about PPI but that started somewhere - perhaps even in a discussion like this? I know if wonga had said to me "you're in a cycle here - call these people for help" it would have altered my situation long ago. Instead they sent messages thanking me for paying and inviting me to come back for bigger and bigger sums. I should have realised earlier what I was doing but I couldn't think straight when my bank was empty and I "needed" the money. Complaining may go nowhere but it might just save someone's world in a few years time if the FOS decide to take a closer look at the practices of these companies.

Kate x