Hello

[Cuchulainn]

Hi Everyone

So I have found you guys as I am experiencing a huge hassle with 2 payday loan companies. I took out a loan with Payday Express last year and I have been paying £100 per month to 'roll it over' since then ( I believe I may have paid off some of the capital as well) I lost my job in March and but still paid them and the other one Mr Lender.

However last month I simply did not have the funds and I contacted them to speak to them about paying £50 per month from this friday ( new job) Mr Lender didn't really seem that bothered, so I will pay them the money and see what happens.

Payday Express went yampy. The lady I spoke to was the most unpleasant individual I have ever encountered.

Anyway. my plan is to write to them ( again) state what I am paying them and stick to that. I have cancelled my cards and I have informed the bank not to set up any DD's for these guys.

I have also requested a full copy of the credit agreement and all payments I have made to them... not sure why just thought it may be useful.

I have asked them to communicate by email only and not to call my house. They have ignored that, so I am going to look into blocking their calls and the harrassment angle.

I will pay what is owed but I suspect I have repaid the capital at least once over and don't want to go on being bled for ever.

Any ideas/help/advice?

Thanks

Cuchulainn

[di30]

Re: Hello

Hi and welcome

I would definately get some professional advice on this if you can, and you can do by also contacting for example The National Debtline, and others alike that are all free.

If your also getting harrassed, unexpected home visits, telephone calls, there is also ways to get round these issues too.

I would obviously pay what you can, when you can, as you have been doing, but defo get some help in regards of a letter in place to explain your full current situation in detail.

http://www.nationaldebtline.co.uk/

http://www.nationaldebtline.co.uk/en...t_advice.php#6


http://www.cccs.co.uk/


I'm sure someone who have had experience with giving help on these matters will also post up.

The best of luck.

[Cuchulainn]

Re: Hello

Hi

Thank you for replying, I am not sure if it is possible but does anyone think that payday express would look at charging a reduced interest fee so I can clear the capital? If I can pay them the £100 per month I was paying and it was clearing the capital it would be manageable. But I have paid them huge amounts of interest and it isn't touching what I have borrowed.

The same I guess could be applied to Mr Lender.

Feel a bit trapped.

Thanks again

Cuch

[di30]

Re: Hello

Hiya
Your welcome

I am not sure to be honest, but there is no harm in asking.

Put it into writing and keep copies of what you send and everything received as well.

"I always say, if you don't ask you don't get" LOL......

[Steam Punked]

Re: Hello

I have also requested a full copy of the credit agreement and all payments I have made to them... not sure why just thought it may be useful.

Read more at: Hello - Legal Beagles Consumer Forum

Don't think requesting your credit agreement will make any difference, being it was taken out last year. So not sure why you asked for this information. I don't think it will help your situation TBH, as it's a Payday Loan. So I don't think requesting it is going to be any use nor of any advantage. It will not help you to negotiate with the loan companies being you applied last year so any agreement would comply with the new rules post from 2006/2007 onwards on agreement compliance.

But you do definitely need the sort of advice Di30 gave you. You are throwing money down a well from what I can see paying £100 and I am sorry but you need to be realistic here, but paying £100 a month whilst unemployed is silly. Not sure why you haven't gone to get help before now, but I won't pry but it would appear your situation has got very much out of control, with the borrowing. Which is what happens with these Pay Day Loans. Not being judgemental BTW, but purely realistic. I wouldn't personally touch anything like this with a barge pole.

[di30]

Re: Hello

Thanks for confirming this Steam Punked.

Yes its worthwhile Cuchulainn seeking pro help on this if possible, a mutual agreement payment plan could be set up to the affordability.
I am aware that some offer plans for 6 months at a time subject to review, so if circumstances change for the better or worse - a new mutual affordable payment plan will be arranged.