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Is it possible to stop payday loans?

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  • Is it possible to stop payday loans?

    Hello, I do have a payday loan from a three different third party company of 6500 pounds and they are still active by managing with late payments from the past 4 months due to the loss of my current job. So will I able to manage to stop these loans by contacting the lenders and explain the situation or there is any other way to close these loans or part of a loan? Any suggestion that helps me out of this will most appreciate it.

  • #2
    Maybe list the history of each of these loans in separate posts on this thread because they might need to be managed in different ways.

    Or do you mean you had one PDL which was then replaced or rolled over so the total has reached 6,500.?

    Is there a possibility that Affordability or Irresponsible Lending issues may apply?

    If so read this link to see how you could make a reclaim if appropriate > https://debtcamel.co.uk/payday-loan-refunds/

    Di
    Legal Disclaimer

    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. Our initial advice is always free.

    Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

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    • #3
      Originally posted by Diana Mayhew View Post
      Maybe list the history of each of these loans in separate posts on this thread because they might need to be managed in different ways.

      Or do you mean you had one PDL which was then replaced or rolled over so the total has reached 6,500.?

      Is there a possibility that Affordability or Irresponsible Lending issues may apply?

      If so read this link to see how you could make a reclaim if appropriate > https://debtcamel.co.uk/payday-loan-refunds/

      Di
      Thanks for sharing valuable information with me and really helpful.
      I will make a different thread and post it meanwhile my PDL which has reached 6,500 pounds which was replaced. Now I am not affordable to make repayments need help.

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      • #4
        Better to meet payday loan lenders and explain your position. If they will give some time to repayments. If anyone has repaid money in past like friends or family, lenders will also try to take money from their accounts to settle your debts.

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