Money shop & The Cheque Centre

genuinegal

Hi,

I've fallen into that trap of borrowing cash till pay day and i've really fallen fast.... Do you know whether either companies can let you pay it off over 5 months rather than me ALSO having to pay the additional cost of 'carrying it over' till the next month (which costs me about £80 a month).

I'd really appreciate your help as i'm frightened i won't be able to pay it off. I can afford to pay off both companies £100 each per month, but not aswell as the 'carrying it over' fee.

Thanks,

Emma

Snaggles

Hiya - can you give us a few more details - how much you owe, what your income/outgoings are, and what your credit rating is like (if you know)?

If you don't want to post on here, you could contact one of the debt charities, the CCCS, Payplan, or there's also the CAB, who may be able to advise you.

squirrel_pigeon

Hi. I fell into that trap too and got properly stung. I asked my local Money Shop if they could let me pay it off over a few months and they refused, but as far as I'm aware each shop acts on it's own (I could be wrong) and you may find a sympathetic manager.

genuinegal

Hi there, thanks for your replies!

I owe £600, my income is £1060 per month and my outgoings are £960 per month, so it means i have £100 per month which i can pay off, but i'm concerned that they won't accept this because it costs £70 per month to carry the balance over to the next month!

My credit rating is poor.....

marksandsparksgal

God that's awful, is there any way you can get a temporary overdraft from your bank, or borrow the money from a family member? I know that's not really helping but £70 a month is madness. I really hate these loan sharks, they're such a rip off!

rog2

Have you spoken with CAB, CCCS or National Debtline? They can advise, plus NDL have some excellent 'template letters' that you can send to these 'lenders'.
Please don't be tempted into taking out another 'loan' from them, in order to pay back what you owe.

RAS

Hi and Welcome

Speakto one of the debt charities as rog suggests, please as soon as possible.

In addition:

Check out your nearest credit union. The one local to me will offer small loans to newcomers with no history to help them get out of debt, I think the maximum they offered to newbies last year was £250 but it could get you going in the right direction. The "interest rate" is much lower.

have you go stuff that could sell on e-bay or at a car boot sale?

If you feel able, put up a more detailed statement of Affairs, see here http://forums.moneysavingexpert.com/showthread.html?t=107280 and the folk here may be able to help you find another 20-30 quid a month some how, even if it is only changing supplier and getting cash-back via quidco.