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pinktrain
Junior Member

10 Posts

Posted - 10 Nov 2010 :  09:59:40  Show Profile  Reply with Quote
Hi I am just arranging a debt payment plan with CCCS I have managed to change my bank account but I have 3 payday loans due to come out next week I was unable to get my wages change to my new account in time. I am a bit concerned that:-

1 they will take there miney all at one
2 that they dont accept my plan

I owe Quickquid ?480
I owe Payday UK ?97
I owe Payday Express ?250

I am going to report my card stolen so they cannot take any payments from my card.

Does anybody have any experice in dealing with these companys.

Thanks

Phil Corfield
Debt Management Expert



897 Posts

Posted - 10 Nov 2010 :  10:10:27  Show Profile  Reply with Quote
Hello pinktrain and welcome to the forum.

We're increasingly seeing payday loans amongst the debts of our debt management plan clients.

On a practical level I'd suggest that you withdraw/transfer your wages as soon as they hit your old account. This will enable you to remain in control of your money.

Our experience is that payday loan companies have generally accepted repayment proposals via debt management plans. This can take a bit of effort on the part of the debt management company; some of these payday loan companies are very new and quite inexperienced in dealing with situations where full repayment is no longer possible.

I am a CertDR qualified Debt Advisor and a Director of Bright Oak.
To contact me about a debt management plan or general debt advice please here:
   
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pinktrain
Junior Member

10 Posts

Posted - 10 Nov 2010 :  10:20:33  Show Profile  Reply with Quote
I am just sending of my letters to companys advising of my DMP do you think I should hold the payday loans back untill I can get the money from my account. They only way I can think of the bank not paying out is to say my card has been stolen and I think it will be used fraduently. Or should I just go ahead and send the letters. I am so worried that they will managed to get money from my account.

Thanks
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Phil Corfield
Debt Management Expert



897 Posts

Posted - 10 Nov 2010 :  10:22:08  Show Profile  Reply with Quote
At what stage do you expect to be in a position to start the CCCS debt management plan pinktrain?

Have they suggested to you to write to your creditors now?

I am a CertDR qualified Debt Advisor and a Director of Bright Oak.
To contact me about a debt management plan or general debt advice please here:
   
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pinktrain
Junior Member

10 Posts

Posted - 10 Nov 2010 :  10:30:06  Show Profile  Reply with Quote
I am in the middle of sending out my letters now and I am hoping that it will either be in december of january at the latest.
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Phil Corfield
Debt Management Expert



897 Posts

Posted - 10 Nov 2010 :  10:57:10  Show Profile  Reply with Quote
Hi pinktrain,

I realise that there is probably a lot to organise at your end but it will be best to get the debt management plan underway as soon as you possibly can.

Creditors that aren't being paid, and are not in receipt of a DMP payment offer from you, are likely to be very active in chasing you for payment. The period between sending the letters out and CCCS getting involved might involve a fair bit of hassle for you.

Have you provided your debit card details to the payday companies to allow them to take the payments already?
If so you could discuss with your bank blocking those payments from being made; the bank might be able to help you with this.
I cannot advocate providing your bank with misinformation about the card having been stolen though you of course are free to take whatever course of action that you consider to be necessary.

I am a CertDR qualified Debt Advisor and a Director of Bright Oak.
To contact me about a debt management plan or general debt advice please here:
   
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pinktrain
Junior Member

10 Posts

Posted - 10 Nov 2010 :  11:00:53  Show Profile  Reply with Quote
Most of my creditors are up to date or I have been paying part of the debt but just cant go on as I am.
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Phil Corfield
Debt Management Expert



897 Posts

Posted - 10 Nov 2010 :  11:11:41  Show Profile  Reply with Quote
Are you intending to cease making direct payments to creditors from now pinktrain?

I am a CertDR qualified Debt Advisor and a Director of Bright Oak.
To contact me about a debt management plan or general debt advice please here:
   
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pinktrain
Junior Member

10 Posts

Posted - 10 Nov 2010 :  11:20:55  Show Profile  Reply with Quote
Yes. I am sending my letters today recorded delivery so they get there asap and they can start dealing with CCCS. But I am also phoning the this morning and so far most have been OK. But again my only concern is the payday loans. I have a loan with my bank and I ams still going to pay this months payment when that is paid I will then send my letters to my bank as I have overdraft's to be included in my plan.
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Phil Corfield
Debt Management Expert



897 Posts

Posted - 10 Nov 2010 :  11:26:45  Show Profile  Reply with Quote
With that in mind pinktrain I think you will need to be sensitive about the timing of your letters and calls to the creditors; especially the payday loan companies.
As you are clearly well aware the key thing now is to remain in control of your money via the new bank account.

It's great that you are being so proactive in dealing with all of this... everyone here wishes you well.

Please feel free to use the forum for any questions that you have during the coming weeks.
Please also let us know how you are getting on with it all. The information will be extremely useful for other visitors to the site in the future, many of whom will be about to follow the same path that you are now taking.

I am a CertDR qualified Debt Advisor and a Director of Bright Oak.
To contact me about a debt management plan or general debt advice please here:
   
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pinktrain
Junior Member

10 Posts

Posted - 10 Nov 2010 :  11:27:53  Show Profile  Reply with Quote
Thank You for your help.
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James Falla
Debt Management Expert



277 Posts

Posted - 10 Nov 2010 :  19:32:01  Show Profile  Reply with Quote
Hi there Pinktrain

The worry you have about your creditors taking money from your account before your can remove it to the new account safe haven is not unusual.

You seem to be organised in terms of your other creditors, but I would definitely speak to your current bank about stopping the payments to the payday loan companies from being taken from your card. If they can not guarantee anything, then you should suggest that they cancel the card and issue you with a new one.

Please let us know how you get on with this as it is a problem which many people are encountering

Personal Debt Expert
BeatMyDebt.com
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pinktrain
Junior Member

10 Posts

Posted - 11 Nov 2010 :  10:38:36  Show Profile  Reply with Quote
Hi

Thanks for your reply. What I have done is contacted my bank and advised that my card has been stolen ( alittle white lie) because at the moment I have another account with the same bank I have told them that I do not want a replacement card as I will be closing this account after a direct debit has been paid and so far they have been ok with this. I have changed all my direct debits that I can. I did receive a email from quick quid asking for new details as my old details have been cancelled. I am not sure what I am going to do next if I will get in touch with them before pay day with my letter from CCCS or send it after payday. So at the moment this is just a waiting game but I will check my account every day to make sure that there is no direct debits been set up and the bank have assured me that my card has been cancelled and nothing will be paid out from this.
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James Falla
Debt Management Expert



277 Posts

Posted - 11 Nov 2010 :  10:47:23  Show Profile  Reply with Quote
It sounds as though you have done everything you can pinktrain. I would ignor the e-mail from quick quid until you are ready to send them your letter from the CCCS. However, if they do start hasseling you and you are confident that your bank will not release any funds, you should send them the CCCS letter as soon as you like.

Personal Debt Expert
BeatMyDebt.com
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pinktrain
Junior Member

10 Posts

Posted - 11 Nov 2010 :  10:48:58  Show Profile  Reply with Quote
Thanks I will advise you how I get on.
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pinktrain
Junior Member

10 Posts

Posted - 23 Nov 2010 :  22:34:46  Show Profile  Reply with Quote
Well it worked bank did not pay anything out so I managed to get all my wages out and I think I have everything worked out. At least no more sleepless nights.
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