Payday loan help!

ffacoffipawb

dealer_wins wrote: »

If genuine OP needs to spend like a kid at school until out of debt.

Indeed. At the moment he is spending like a Labour Chancellor.

DCFC79

JohnFree wrote: »

So I cant take her out for a 40% off meal? !!!!!!? get a life.

No one's saying you can't take her out for a meal but when you have a debt to be paid meals out need to be shelved until you have repaid the debt.

If you didn't spend the £80 plus the £30 on the dating website ( did you get that back ) you would have had £110 to use towards the loan.

fusionx212

Johnfree I have been in your situation with the payday loans. for example borrowed well over 15k over 2-3 years..

phone the lender and explain. they may offer you a gesture of goodwill and freeze interest. they may also consider writing the debt off. you need to speak to them put it all in writing. get your budget planner out and work out exactly where money is going. if you can consider speaking to a relative who maybe able to help you pay off the debt and you pay them at lower interest. you can then escape the ever rolling fees. you need to bite the bullet and swallow you're pride when it gets to this point. I have been there

McClane54

he can't see the error in his ways, let him carry on, fool!

RuthnJasper

JohnFree wrote: »

So I cant take her out for a 40% off meal? !!!!!!? get a life.

John - your post title includes "please help". And the majority on here have either been in this situation personally, or seen it in others at close hand. We want to help; genuinely.


But posts like the one above are insulting and unhelpful.


For a fraction of your meal out at the restaurant (and, presumably, any babysitting costs) you could have had a nice romantic meal at home with a supermarket meal-deal or something else home-cooked.


Sometimes, a part of asking for help includes having to be willing to hear truths you won't necessarily like.


I hope things improve for you; whatever you decide to do.

AnotherJoe

fusionx212 wrote: »

get your budget planner out and work out exactly where money is going. if you can consider speaking to a relative who maybe able to help you pay off the debt ...

It's immediately apparent where the money is going ! Expensive presents for kids, £80 trips to cinema, computer games, meals out. Why should some unfortunate relative subsidise his "I'm entitled" spending pattern. He might as well just invoice them for all these costs directly !

DEBTMONKEY1A

Hi OP, we all make mistakes. I've done it before. Go to the Stepchange website. Either call them, or fill in the 'debt remedy' tool online. It will give you the solution you need. If a lender sees that you've taken proper advice they will in most cases freeze interest. My guess would be that after you've put in ALL outgoings the advice will be to make a token payment of £1 & when/if your circumstances improve you can look at increasing that payment.

Yes-the fact you've taken out a payday loan-even if paid back in full, does have an impact on your credit file a bit. Also-it's NOT correct that you will automatically get a default on your credit file, many lenders will change the title of the ammount you're paying-even if its a token quid, & put something like 'arrangemnt' on the credit file. If you maintain the agreement many of the lenders (not all) won't default you.

Ignore some of the keyboard warriors on here-although everyone is entitled to their opinion, & get this sorted for yourself. As I said, we're all human & make mistakes!

JohnFree

OK I spoke to them, and I HAVE taken all what you have said on board. I am going to pay them back £50 a month. I agree with most of you I have been stupid, but you live and learn and thank you all for taking the time out to help me, especially the ones with constructive criticism.

JohnFree

@ffacoffipawb Your comments are about as useful as a conservative leader.

JohnFree

@dealer wins, that comment is worse then that team you support.