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sourcrates

Stop the borrowing, you will just make things worse, best advice is above, default and make arrangements to pay.

Normally I encourage people to reclaim interest on these types of loan, but in your case you could end up with fraud markers on your credit file, so I would not bother.

rtzs287

Would I not end up with fraud markers on my credit file if I tell the companies I cannot afford to pay. They will ask why I cannot pay, and will want an income and expenditure sheet to accept an alternative payment arrangement right? I will have to say because I am currently and was unemployed when I took out the loan, also I did actually have monthly expenditure towards other loan payments. Will it not lead to the same outcome of being prosecuted for fraud.If I won't be prosecuted for fraud then I'll do that, but if there's a chance I will, I think I would like to struggle to find another solution for a bit longer.

fatbelly

rtzs287 wrote: »

I've now seen a similar thread which pretty much answers the question I had when I started this thread:

https /forums.moneysavingexpert.com/showthread.php?t=5913375

I would think I can't get a DRO for similar reasons, or that the CAB would be a good place to go for the same reasons. I guess I'm on my own. No employment as yet, bad back is mostly better now so I'm confident I'll secure a nights job temping pretty quick. I'm going to have to take out another loan in the next few days and then once I start to be paid, should be okay. Just completely stuck. It's such an awkward way to live. Thanks for the help.

https://forums.moneysavingexpert.com/discussion/5913375/payday-loan-issue is from the loans board (not that I'm advising a loan as the way forward - far from it) so you're not really getting debt or insolvency advice there.

If you meet the criteria for a DRO:

• Must not be a homeowner,

• Debts less than £20,000,

• Can have a car worth up to £1000,

• No other assets of more than £1000,

• Must have £50 or less left at month end, after all essential payments have been made (not inc debt repayments),

• Cannot have had a DRO in last 6 years.

then you can apply for, and almost certainly get, a DRO.

Yes if a debt is fraudulent it can be pursued after a DRO but this would have to be evidenced. In nearly 10 years of doing them I have only ever sen this right exercised on overpayment of benefits where this can be evidenced by

• a court case
• an admission in an interview under caution
• acceptance of an administrative penalty.

So I would definitely run this past a debt adviser who knows what they are doing, and that probably means National Debtline or CAB.