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Payday loan Debts

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My mate got himself into abit of debt, during the Christmas Period

Next week two Pay day loan companies are due to take out,

£700

£300

 

Out of his account on the same day, which he does not have,

 

Does anyone have any solutions, the two companies are Pay Day express and Wonga

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dont open the door

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break his own legs before they get a chance

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holla at wonga and explain the lack of founds 

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Been there done that.

 

Good luck.

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P.S they never want you to get out of debt with them.

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Cancel his bankcards and get a new one sent out. They won't be able to take out shit.

 

Alternative transfer the money somewhere else and then ask them to be put on a longer repayment plan as the payments aren't feasible. They'll usually cooperate to get some money rather than none. But they will sting every cent available in his account until the balance is cleared, when they want to. So its not wise to keep the money there

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your friend yeah?

 

 

If it was me i would have no problem to say, i do not know anyone on VIP2 personally,

 

so what harm would it do to say if it was me

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Cancel his bankcards and get a new one sent out. They won't be able to take out shit.

 

Alternative transfer the money somewhere else and then ask them to be put on a longer repayment plan as the payments aren't feasible. They'll usually cooperate to get some money rather than none. But they will sting every cent available in his account until the balance is cleared, when they want to. So its not wise to keep the money there

 

 

I said this to him, but he said

 

They will charge intrest, which is like £20 a week

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So? If they can't take the money you can at least organize something more manageable.You must take the power away by changing the details where they'll attempt to get the money from.

 

If they charge interest then thats what they're gonna do, but really they should co-operate if you state your financial situation

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if you stop paying itll fuck up your credit

 

theyll just keep extending and extending and itll just build up over weeks and months

 

its a dark hole

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He needs to tell them he's having financial difficulty and wants to seek advice. They SHOULD give him 30 days to do this with no contact and possibly no added interest.

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You've got to pay it off as soon as you can. Don't let that shit get on top of you man. If you have bad credit in this country you're fucked. We have a shark mentality. Eat the wounded.

 

They'll send round half a dozen guys that look like Ray Winstone to beat you on the kidneys with football boots until you piss blood. Nasty stuff indeed.

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Get one of them year long loans to cover the monthly payday loans, that way your "friend" has a year to come up with the funds for one single loan.

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My mate got himself into abit of debt, during the Christmas Period

Next week two Pay day loan companies are due to take out,

£700

£300

 

Out of his account on the same day, which he does not have,

 

Does anyone have any solutions, the two companies are Pay Day express and Wonga

 

He didn't get himself into this pickle for Xmas presents did he?

 

 

Citizens advice never fails tell him to holla.

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They'll keep racking up the interest until its worth going to court for, then they'll take him to court.

 

And at a  APR of 4214% he will be in tears.

 

Tell him to borrow money from his fam until he can sort out a proper way to repay, 'cause its not gonna work out for him otherwise.

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your friend yeah?

 

 

wasnt this the guy whos 'friend' got thrown out by his mum and had nowhere to live?

 

deffo 'friend'

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Very unlikely you'll get taken to court. They'll chase him while adding on interest then sell the debt.

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They'll keep racking up the interest until its worth going to court for, then they'll take him to court.

 

And at a  APR of 4214% he will be in tears.

 

Tell him to borrow money from his fam until he can sort out a proper way to repay, 'cause its not gonna work out for him otherwise.

this

 

but also

 

never

 

EVER EVER EVER EVER

 

EVER

 

use Wonga

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borrow some p? a friend, family? pay it with ur credit card coz their interest will be a lot less then those loan companies

 

or

 

cancel cards, move all p to a different account, arrange a payment plan u can pay them comfortably then if u get some extra p pay extra

 

or

 

citizens advice/free debt management company like national debt line

 

or

 

if u have alot of debt already but its less than 15k, go for a debt relief order, when approved all debts are written off but ur earnings have to stay roughly the same for 12 months during the order, there are other limitations that you'll have to adhere to as well

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he should consign some work go o.t lol .................

 

silly really why get a payday loan if he werent gonna invest it,thats the worse option to solve a small term problem or

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your friend yeah?

 

 

wasnt this the guy whos 'friend' got thrown out by his mum and had nowhere to live?

 

deffo 'friend'

 

Yeah, remember that

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