Help needed asap urgently

[The]

Hello, I'm new to this forum and I hope I've come to the right place. I have heard good things about it. I'm worrying a lot of this payday loan I obtained from Wonga.... I owe Wonga £420, (£350 lent, £70 interest, Original loan was taken out on 27th February) and I really cannot afford to pay it all in one sum, Yes I screwed up. Now it is due in 7 days ( I have left it late yes ) I was planning on extending it but they haven't allowed me to do so (Online). I would want to pay it off in monthly fees or something along them lines and I was going to ring them tonight but after reading around I heard it is best to only contact them in writing.. So I owe £420 I could probably afford £100-£150 a month. Like I say the loan is due in 7 days so I would like to get it sorted before then to prevent any extra costs/ late fees. I'm worrying a lot about it any help would be very very appreciated.
Thanks in advance

[MrsD]

Re: Help needed asap urgently

Hi Welcome to AAD

Have you missed a payment?

Is this your only debt?

[The]

Re: Help needed asap urgently

I have one other outstanding loan of £237 which I can handle myself from TxtLoan I have no problems paying this one backd, I have not missed a payment from Wonga no. I have extended one in the past but this is the only loan from Wonga. I was debating ringing them about paying monthly but after reading some things on here I delayed it and waiting for your expertees, Thanks for fast reply!

[MrsD]

Re: Help needed asap urgently

You do realise that if you default on this, ie not pay what is due in full, they may trash your credit record?

[The]

Re: Help needed asap urgently

No I'm not aware I'm not very educated in all this. Is there no way of negotiating a monthly pay without trashing credit?

[MrsD]

Re: Help needed asap urgently

If you do not pay the necessary agreed and contract payment on any loan, you are considered to be in default and a default can be registered on your credit file. If your credit is clean, and you have no major outstanding debts, I would try very hard to keep things that way. A default stays on your credit file for 6 years (in England and Wales) and would affect you getting any more credit, including a mortgage.

[The]

Re: Help needed asap urgently

Right I understand that, appreciate your help and fast reply, there is no way around my problem without gettin bad credit without paying in full?

[MrsD]

Re: Help needed asap urgently

payday loans are a trap

if you pay less than is expected they will start adding on charges.

if you can pay it I would, it all depends on your general circumstances

[Never-In-Doubt]

Re: Help needed asap urgently

You might be best paying it in full then they'll let you take another the same day. Just take half and then clear it next month then take a quarter and clear that. It's the best way to get round it.

So yea you're carrying it over by having a new one each month. That's the ONLY way to keep your credit file intact (and clearing it plus maybe £100 in fees over 3/4 months)

Not that I'm suggesting you get a PDL cos they're scum but to sort your problem you might find that's the best way forward.