Payday loan advice needed please.

Danzio

Hi everyone,

I'm pretty new to these boards but have a current issue I'd like some help with, if anyone can spare the time. (Thanks in advance)

I received the other day a letter from moriarty law concerning a payday loan debt from quite a few years back claiming I owe them around £820 (They are saying over £1k with other fees if not paid within 14 days).

I remember taking the payday loan and defaulted on the loan as it was nearly 90% of my monthly income back then and had rolled over for a considerable amount of months.

The reason I defaulted was because I went and am still at university, Still unable to afford to pay the debt.

The problem is however is that they have asked for this money and I live away to study, I have came home and they are stating 14 days before they start proceedings, and the letter is dated the 5th I believe?


Ok, so down to it. Is there any thing I can do here? I don't have an income and live a now very frugal lifestyle (Which I thought) debt free (Besides student loans) If I write them, and explain my circumstances won't they just issue a CCJ in my name anyway?

Im really struggling with options of what to do here as its such a large sum of money.

Thanks for any help that is given, I will give replies and responses as soon as possible to help with the situation.

Dan.

RuthnJasper

Hi Danzio,


Best advice I can offer is to contact Stepchange:- https://www.stepchange.org/


or Christians Against Poverty (they won't try to force their religion on you): https://capuk.org/.


Both are friendly, non-judgemental and can offer impartial, sensible advice based on your particular situation. Neither will charge you for their services.


Good luck - wishing you happier times ahead.

-taff

And go to the debt free wannabe board, put your same post in there.

System

Danzio wrote: »

Ok, so down to it. Is there any thing I can do here? I don't have an income and live a now very frugal lifestyle (Which I thought) debt free (Besides student loans) If I write them, and explain my circumstances won't they just issue a CCJ in my name anyway?

Im really struggling with options of what to do here as its such a large sum of money.

Get a part time job which you can do whilst at uni, come to an agreement to repay.

-taff

The debt free wannabe board will offer you more help with this, there is also a sticky on the board aout pay day loans, you might want to read it.

BrassicWoman

At this stage I would beg my parents for help.

BrassicWoman

Is it this one that you mntioned in 2014? What happened?

https://forums.moneysavingexpert.com/discussion/5006084

Danzio

No that got sorted. That wasn't a pay day loan that was something else. However right now this is the only debt I have. I'll look into it.