My debt free journey.

A question about : My debt free journey.

Hi all.

I've posted on here before but I've pretty much not done any better so I hope you don't mind but I'm going to start a little debt free diary in the hope it spurs me on seeing what I've achieved.

I currently owe:-
Wonga : Ј1322.62
PaydayUK : Ј467.87
Vivus : Ј647.50
QuickQuid: Ј500
Pounds to pocket: Ј800

I have emailed all company's requesting to pay each back at a rate of Ј40 per month.

This has currently been accepted by Wonga and PaydayUK. Both of them I found to be most willing to help customers in hardship.

Vivus seem to ignore all my offer emails. Yet reply if I send any other email to them. QQ and P2P both haven't replied or even acknowledged an offer.

I know I'm in for a long ride now, please wish me luck for a debt free future

CH

Xx

Best answers:

• Good Luck. In terms of banking you either need to open a brand new basic account away from anyone you owe money to and set up standing orders only, no direct debits for what you are offering or you need to make sure you have cancelled any DD you may have already set up with the payday loan people and any CPA's - continuous payment authorities. You should also do this with your bank and make sure you have proof this is done. In theory stopping the DD/CPA with your bank should be enough but it might be easier to set up a new bank account as some banks aren't as hot on stopping these payments as they should be and then you'd have to argue to get your money back.
  Oh, a CPA is when you give a company your card details to make a payment and they keep them on file. They can argue you have given them authority to keep taking payments.
  With regards to the one not accepting your payment plan then provided you have put all the necessary safeguards in place - ie new bank account or cancelling CPA/DDs then you shouldn't worry too much. You may wish to write to them (actually write and keep a copy and certificate of posting) enclosing a copy of your budget and reiterating your offer. Ask for their bank details so you can set up a standing order as well. They may ignore your letter but then you can put in a complaint that they are not treating you fairly. Also if they did decide to go to court it may help you if you have offered payment arrangements (Well it definitely won't hurt).
  df
• Thanks.
  I know this sounds silly but I feel so much better knowing that Wonga and PaydayUK have accepted my offer. Feels like a huge weight has been lifted. I've been letting it go on for months and its been so easy setting up a repayment plan with them I'm kicking myself for not doing so earlier. I probably would have saved 200/300 quid.
  I've moved all finances to a separate account and will transfer money to my old one and immediately use it to pay via their websites.
  I'm also hoping anyone reading this with payday loan debts can see that some companies are fair and do help when you ask for it. As that was one of the main reasons for me delaying it.
• Me again. Vivus have agreed to Ј40pm finally!
  Although I now apparently owe Ј735.
  Just QQ & P2P to go.
  1st instalments to be paid Friday. Looking forward to the balances decreasing!
• Well done you for tackling the debt head on.
  Are the payday loans agreeing to stop all interest and charges as well.?
  If so that is amazing. xxx
  I have just changed my bank account to escape a huge overdraft of Ј3000.
  Once switched over, I am planning to write to B#rclays explaining my financial hardship and asking if they will stop all interest and charges while I try to pay off the balance.
  Your success so far has given me encouragement that I can finally sort out my issues too.
  Will be following your progress. xx