Payday Loans and Job Loss

FireWyrm

OP, posting on two separate forums just gets people confused. For clarity, your other thread is here : https://forums.moneysavingexpert.com/discussion/4992518

In the meantime, you need to do the following in this order.

1) Get onto your own bank now and TELL them to stop all continuous payment authorities. Dont take 'no' for an answer, they must and WILL do as they are told.

2) Go find another bank unconnected with this one. Co-Op, Barclays etc are good bets. You want a single non-credit account with DD and standing order ability but nothing more.

3) Get your pay paid into it and move what little you have left out of this account and into that one

4) Write to each of your lenders telling them that you are in financial difficulty and for the timebeing, you will be paying them a token payment of £1 per month. Would they please kindly contact you to negotiate or set up a plan.

5) Start paying them back when you are in another job

6) Never touch a PDL again as long as you live.

[Deleted User]

Here we go OP, here's an official source because my ramblings are past, this pretty much sums up much of the good advice in this thread - so you don't just have to take our word for it!

https://www.moneyadviceservice.org.uk/en/articles/problems-paying-back-payday-loans

Now, if only there were similar and such sources of concern shown for the world of work... to the little people who may not have the 'required protection'.

BillJones

hohum wrote: »

as you are both so clever and sorted, why don't you apply your obviously considerable intellect into responding to a request for help

I did. It's still written up above, in my first post...