cashgenie.co.uk payday loans

mikeandrach_2 · 27 February 2011 at 10:58PM

i write this post with great embarrasment and shame. please, whatever your views dont use it to bash me about financial control etc etc. i took out a loan of £150 with cashgenie.co.uk last october. i was unable to make repayment due to a genuine unexpected problem. i never heard from them at all, i got a letter in january. iw rote back, asking if we could make a repayment plan and made an offer. that was following the general advice on here, ie everything in writing. i wish to god i had phoned them now and got an immediate answer, as today tehy have debited £594 from my account. thats right, £594 for a £150 loan. thankfully i am now in much better control of my finances, but this unexpected £600 debit is going to leave me unable to pay rent and council tax as well as other things.
i know its my own fault for taking the loan, i know i could have pursued them more but over christmas i was working 11 hours a day 6 days a week, so it was very hard to contact them by phone. £504 for a £150 debt, i knew the interest and charges were sky high but didnt expect anything like this. im embarassed, ashamed, in tears, what a stupid pathetic waste fo my money. to anyone contemplating payday loans, just dont do it, its not worth it.

paddyrg · 28 February 2011 at 2:30PM

Ouch! And there's not a lot you can do about it other than pay late on the rent and council tax. They will be upset with you, but on the plus side if you pay what you can straight away and explain and agree they will have the full balance when you sell some stuff, you probably won't get kicked out of your home for it.

KingElvis · 28 February 2011 at 2:35PM

Yep, the payday boys don't forget, they just wait until you have the cash and take it.

mikeandrach_2 · 28 February 2011 at 4:55PM

thanks for your replies. i emailed them yesterday through their website, and in their defence they did call me by 9.25 am this morning. they are going to refund £169 of the charges. this is still i think crazy, but its a lesson learned and hopefully a warning to others. i do genuinely hope that somebody avoids them as a result of seeing this thread, or any other payday lender for that matter

paddyrg · 28 February 2011 at 5:05PM

You did well to negotiate the £169 - nice one!

jon_boy75 · 28 February 2011 at 5:21PM

council tax will negotiate with you, no probs, but not sure about your landlord...you will know best

jonjamie1970 · 28 February 2011 at 5:27PM

I feel for you and there but the grace of god, I was in a position where I started to look at these options last year and didnt, I'm sorry as I know how it feels to have wasted money. However a good lesson learned and I dont think you will ever be going down that route again. Just as a matter of interest have you taken steps to ensure they dont come back and take more for some obscure reason ?

CIS · 28 February 2011 at 10:53PM

council tax will negotiate with you, no probs, but not sure about your landlord...you will know best

Wouldn't count on it at this time of year (many councils wont change instalments away from the statutory ones)

geoffky · 1 March 2011 at 12:24AM

oh dear..well done them for giving you 160 quid back because you were and are a grown adult and did sign the agreement explaining all the penalty's and fees...they have done nothing wrong and i would be happy that they have given you a bit of a refund.. stay away from theses places ...easy said by someone with no money troubles ,i know

mikeandrach_2 · 1 March 2011 at 8:15PM

geoof, stick it up your !!!! mate, i said at the beginning no comments like yours.

Peelerfart · 1 March 2011 at 10:46PM

mikeandrach wrote: »

geoof, stick it up your !!!! mate, i said at the beginning no comments like yours.

Mike,

I didn't read anything in Geoff's post that meant anything nasty.

I personally am grateful for your post as I indicated in my thanks.

Good Luck

PF

cashgenie.co.uk payday loans

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