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**Never-In-Doubt** · 5 May 2011, 17:40

Re: Approaching Payday Loans

Is this all your debts? How much is each loan for, what do you have to repay next payday and finally when are they due for repayment?

Please list both details separately so I can get the gist of things then I'll update for you....

You won't have to speak to them.... Don't worry

**metodo09** · 5 May 2011, 18:03

Re: Approaching Payday Loans

Both payday loans are due for repayment on the 16th May.
One payday is for approx 990 (I think only took an initial loan out for 600)
Second payday loan is for 600.
I have small non priority debts too.
Appreciate any help that you can give.
My gas and electric is exceptionally high at the moment 200 per month. They said when I moved in they underestimated the usage. My fault I didn't take readings. I do that religiously now.

**Never-In-Doubt** · 5 May 2011, 21:06

Re: Approaching Payday Loans

Hiya

Please confirm the following twice - one for each loan!

1. Name of payday loan company
2. Amount on your agreement/statement - ie the original amount borrowed/paid into your bank
3. Amount of charge, ie how much interest
4. Any insurance / ppi added?
5. Have you told the company you're struggling to pay?

Ok, once you do that then I'll be able to help better. Also, tell me how much you can comfortably afford each month (total) to pay back the loans? I will then sort you two emails, one to send each company. Also, do you have a copy of the email with the agreement? If not can you get a copy from online as we need to know what the default charges are.

Do you have any other debts, I mean credit - not utility.

Lots of questions but it'll help you if you can answer for me, as then I'll do the hard work for you!

Niddy :niddy

**metodo09** · 6 May 2011, 06:21

Re: Approaching Payday Loans

Pounds Til Payday (Based in Malta)

Total amount owed on promise date - £649.90

This comprises of:

Capital repayment - £519.92
Interest repayment - £129.98

Have not approached them yet

**metodo09** · 6 May 2011, 06:26

Re: Approaching Payday Loans

Wonga

Total amount owed on promise date - £1109.19

This comprises of:

Capital repayment - £975.00
Interest repayment - £407.69
Transmission Fee - £16.50
Other charges - £10.00
Repayments made - £300.00

Date loan taken - Thursday 24 March

**metodo09** · 6 May 2011, 07:25

Re: Approaching Payday Loans

Other debts include, one old mobile phone debt, two old visa debts. I am paying these back at an agreement of 10.00 per month.
I am paying a relative back at 100.00 per month. (money she lent me - but cannot help out again)
The CCCS have calculated I have 200.00 a month available to repay non priority creditors. (that is 200 spare after repaying the relative back at 100 per month)

I would also like to save around 50.00 per month for emergencies. One of the reasons I seem to get into debt is I have no funds.

**Never-In-Doubt** · 6 May 2011, 07:38

Re: Approaching Payday Loans

You'll notice i've tidied your posts above - can you confirm the details are accurate, also I notice you have paid £300 off the older Wonga loan - so this is a carry forward then is it??

I presume pounds til payday is that con where you pay the same over the space of a year - or not? Can you clarify for me, I need more details - see my post above, I asked for a lot of info!

Thanks

**metodo09** · 6 May 2011, 07:52

Re: Approaching Payday Loans

WONGA
I have just copied and pasted from my account information. (so it is accurate) Yes, I paid 300 in April and the loan was carried over
Looking at their site if you wish to extend a loan you have to pay off the interest first. Then they extend the loan. However, by the next payday you have acquired MORE interest!

POUNDS TIL PAYDAY
DO NOT allow loans to be rolled over. I think the interest is 29.00 per 100 borrowed From reading forums they can get quite aggressive. They can inundate you with phone calls at work.

Available income
Doing an income expenditure form I have 200.00 spare cash to repay non priority creditors.
Sorry I am a little disjointed! I am not sleeping well because of this cough. However, if I am honest I can't sleep anyway because of this debt.

**Never-In-Doubt** · 10 May 2011, 14:37

Re: Approaching Payday Loans

Bear with me, i'll sort this tonight for you

**metodo09** · 10 May 2011, 14:38

Re: Approaching Payday Loans

1. Name of payday loan company
2. Amount on your agreement/statement - ie the original amount borrowed/paid into your bank
3. Amount of charge, ie how much interest
4. Any insurance / ppi added?
5. Have you told the company you're struggling to pay?

1. WONGA
2. Total amount owed on promise date - £1109.19

This comprises of:
Capital repayment - £975.00
Interest repayment - £407.69
Transmission Fee - £16.50
Other charges - £10.00
Repayments made - £300.00
Date loan taken - Thursday 24 March

3. This is included in above
4. No insurance
5. No have not approached Company telling them struggling to pay

**metodo09** · 10 May 2011, 14:43

Re: Approaching Payday Loans

1. POUNDS TIL PAYDAY

2. Loan taken out was for 500.00

3. Interest is 129.98 plus 19.00 pounds. That is how they have expressed it

4. No ppi

5. Not notified struggling to pay (heard they try and contact your employer)

**metodo09** · 10 May 2011, 14:46

Re: Approaching Payday Loans

Any help that you can give would be appreciated.

I just want to break this payday cycle and become normal again! I am on my own with three teenage girls.
I accept I made a stupid error in my life. However, I want to return to normality a.s.a.p.

I am happy to repay them over several month. Its just their interest is ridiculous. In the U.S many states are banning these loan sharks

**Never-In-Doubt** · 10 May 2011, 19:12

Re: Approaching Payday Loans

Templates that you need to send - stick to the content religiously (i.e don't back down and agree to pay more etc)...

You also need to cancel your bank card, just say you lost your purse whatever - do this asap!

Wonga - send via email:

Dear Sirs,

Account No: XXXXXXXX

I refer to an outstanding Pay Day loan that I have with yourselves.

Unfortunately the spiralling effect of such loans has left me in an awful predicament meaning I cannot fulfil my liability in one go any more and I therefore propose a payment plan structure that allows me to repay the balance over time, alternatively I will cease all repayments as I cannot afford this any more.

The current balance is shown as £1,109.19 which I propose to repay in 10 equal instalments of £110. I cannot afford to repay any more and will not entertain haggling this issue, my offer is outlined above and I suggest you consider it as failure to will result in me considering my options which may include Bankruptcy - as we both know, if this occurs then you'd not get anything back as I genuinely do not have anything to give.

If you could confirm in writing that my offer is acceptable and enclose your bank details and the reference to use, I'll set up the payment plan to commence 1st June and the 1st of each month thereafter up-to and including March 2012, by which time I will have fully repaid the balance.

I have already cancelled my bank card thus alleviating the possibility of you trying to reclaim full payment so please ensure you send your bank details in your reply.

I await your prompt response.

Yours faithfully

Pounds Til Payday - send via email:

Dear Sirs,

Account No: XXXXXXXX

I refer to an outstanding Pay Day loan that I have with yourselves.

Unfortunately the spiralling effect of such loans has left me in an awful predicament meaning I cannot fulfil my liability in one go any more and I therefore propose a payment plan structure that allows me to repay the balance over time, alternatively I will cease all repayments as I cannot afford this any more.

The current balance is shown as £649.90 which I propose to repay in 10 equal instalments of £64.99. I cannot afford to repay any more and will not entertain haggling this issue, my offer is outlined above and I suggest you consider it as failure to will result in me considering my options which may include Bankruptcy - as we both know, if this occurs then you'd not get anything back as I genuinely do not have anything to give.

If you could confirm in writing that my offer is acceptable and enclose your bank details and the reference to use, I'll set up the payment plan to commence 1st June and the 1st of each month thereafter up-to and including March 2012, by which time I will have fully repaid the balance.

I have already cancelled my bank card thus alleviating the possibility of you trying to reclaim full payment so please ensure you send your bank details in your reply.

Finally, I feel it necessary to remind you that being I am in financial difficulty and that I've taken the time to recognise and inform you of my predicament, any contact to my employers will be met with a legal summons for the breaches in data protection. There is no need to contact anyone regards to this matter, other than myself. If you need to contact me then use the email address outlined below, all my phones are also disconnected so it is futile trying to call me. However be warned, any employer contact will be met with a counter-claim via the courts for your evident attempt to embarrass and ridicule me.

I await your prompt response.

Yours faithfully

Unfortunately this does add up to £175 so slightly short of the £50 you need to save however that is the best you'll get i'm afraid - so take it! Ok, regards to the phone calls - you will find that they will try and call you so it may be an idea to log-in and just change your numbers to any random ones, for instance if your area code should be 0113 and your number 2999999 then change it as follows 0113 2876543. Do the same for mobile and employer - they cannot write to your employer and if they did call them and mention you're in debt they'll have broken the law - something which could result in loss of their consumer credit licence and / or a substantial fine.

Obviously when they agree, you need to then set up the payments and not miss any, however if they call and you answer then just fail security or hang up when they identify themselves.... do not get into a verbal chat with them - you must deal in writing only....

Oh, don't forget to cancel the registered bank card that will be used to repay these debts, if you also have direct debit set up then cancel them.

Best of luck, keep us updated!

**LooLoo** · 10 May 2011, 20:18

Re: Approaching Payday Loans

Good luck with this - and don't worry as Nid says you don't need to deal with these people on the phone do it all in writing - don't worry you have def come to the right place

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