Payday loan help!

AnotherJoe

JohnFree wrote: »

I am not going to apology for taking my kids to go see Star Wars, I really don't understand why you lot are so angry.

Because you are pleading poverty but making frivolous purchases,and until you realise that, you'll end up on an endless treadmill of loans you can't afford but seemingly believe you or your kids are entitled to.

There was a time, for example, when the presents you got was a function of how much money you had and not how much you recklessly chose to borrow. Its not a human right to get expensive presents for xmas, and you arent doing your kids any favours by pretending you can just spend away because its a human right to have a PS3 or see the latest film. They'll be more damaged by not understanding you can only have what you can afford, than by missing star wars.

Thats why.

aaroncaz

JohnFree wrote: »

I am not going to apology for taking my kids to go see Star Wars, I really don't understand why you lot are so angry.

Surely you should have made a payment for your loan rather than spending it on the cinema? Your kids would not have been deprived they would "cope". It's surely common sense.I could understand if you spent it on food/ bills etc... but the cinema:(

Caz3121

when negotiating reduced payments you will be asked to supply a breakdown of all income and expenditure...the figures tend to determine what you can afford not you...if money is being spend on non-essentials then it is money that can be used to pay the debt instead
Many people on this site will have been through the "loans for Xmas, still paying it back next Xmas so need to get another one" cycle and are talking from experience.
I am sure you are aware of the extreme interest on payday loans so you will fall deeper and deeper
Not sure you have hit your lightbulb moment about getting out of debt (I am guessing the payday loan was either because you had maxed out other forms of credit or would not be accepted for mainstream lending) The Debt Free Wannabe board is there for those that really want to address their spending, budgets and getting out of debt and has helped many people.
Defaulting on a payday loan will mean less avenues available to you for future lending and often those that will lend would be even higher interest for those with bad credit, so reducing outgoings and/or increasing income is going to have to happen at some point

JohnFree

You are right to a certain point, but I guess that are better ways to word it, as those people above sounded like they have some real issues, instead of trying to help.

There are things that I have cut down and that includes quitting smoking, I no longer go out with friends, the list is endless but I am sure they do not have families and they do not understand the pressures from having a family, I wish it was more easier but its not when you have a 1 person with an income without any other help.

JohnFree

Thank you Caz

Mojisola

JohnFree wrote: »

My wife is a stay at home Mum

Can't your wife start to earn some money?

JohnFree

She cant, she works full time as a Mum.

Mojisola

How old are the children?

What about weekend or evening work when you are at home for the children?

JohnFree

6 & 8, she cant really work I wont put here as its personal.

CHR15

Top Tip: There are only 8 paydays until Christmas. Start planning now so you don't have to repeat this next year.