Loans

ella1992

Hi all so am struggling for money I got a loan from loans to go borrowing 400 and they want 1407 back

Rosie_Scope

Sorry to hear you're struggling for money @ella1992. Have you managed to speak to the company you got your loan from to see if there are any ways they could help you repay what you owe in a more manageable way?

If you're having difficulties with debt there are a few charities that might be able to help. StepChange and National Debtline offer free advice to anyone struggling with debt. You could also try contacting your local Citizens Advice to see if they can offer you any more ideas of things to try 😊

poppy123456

I’ve just taken a look at that company and their APR is 679% 😱

Before agreeing to the loan they should have given you information in the credit agreement on how much per month you would need to pay and how much in total you would be paying them back.

ella1992

Can they take me to court they did send me it once it was in my bank as I saw money in my bank first

ella1992

Tbh I have big debits but can they send out debit collection out on me idk

poppy123456

They could eventually yes. Please see the links provided by Rosie above and speak to one of the debt helplines.

ella1992

Iv also looked they sent me repayments on the same time they sent me the money surely it should be sent before they sent me the money

Rosie_Scope

@ella1992 As Poppy said, if you've got more debts than just this loan and you're struggling to pay it all back, it's well worth trying to get in touch with the debt charities. They can advise you on how to deal with your debts in a way that works for you and most will help you form a plan that makes it much easier to get things under control 😊

Cantilip

I was incredibly stupid when younger and got into severe credit card debt. It is not the end of the world, even though it feels like it, even though the banks try to terrify you and harass you. I had one County Court Judgement against me, thought that must have been 30-40 years ago and is long since written off. What you need to do is find a debt management organization and lay your whole financial situation in front of them. They will look at your total income and total expenditure on necessities and work out how much you can afford to pay back per month and negotiate that with the people you owe money to. Then you make one payment per month to the debt management company and they distribute it proportionally to your creditors.

ella1992

I have spoke with them I have ask for express interest to withdraw starts from today so I have till 21st of July to return the 400 how ever from 2 day there is daily interest of 1.84 per day he is going ring me on the 17th at 12 o'clock and said they can do install plans for me as small as I like as I explained but they said they did all the affordabitchecks but they didn't ask for any banks statement or wage slips surley that can't be right I feel little bit better but I have to say this is my mental health I have spending problem I can't stop as it makes me feel better buying things sounds silly

Rosie_Scope

It's not silly at all @ella1992, we all cope with difficulties in different ways and it's easy for things to get a little out of hand sometimes. If you speak to one of the debt charities they won't judge you at all, they're just there to help you find a way to cope with your debts so things are a little easier. They might also be able to answer questions about the loan you've taken out and whether there's anything you can do to make it easier to repay.

Are you in touch with any professionals about your mental health, or is there anyone you might be able to talk to about your spending?

ella1992

I not with mental health services ATM I'm waiting on asuim and adhd refel then going back to mental health service my work discharged me last week Iam with step change they can't give me debit reflif order because I rely on clearpay and fair for u 350 shopping card iv never missed payment with these