Author Topic: payday loan  (Read 914 times)

denn

  • *
  • Posts: 1
payday loan
« on: Nov 30, 2011, 04:22:50 PM »
i stupidly took a paydayloan when i had back problems and was taking time off work and struggling to pay bills,my loan was for 200 pound which i failed to repay and within 2 months received a bill for 532.00 from frederick international.my original repayment to the loan company was 234.00,so i think this is extremely harsh,already they have threatened me with court action and baliffs,iam extremely worried about this and with 2 kids and xmas near its really stressing me out,i hold my hands up and admit i did borrow 200 quid but the amount it is at just now is obscene,can anyone offer any advice on this.many thanks

James Falla

  • Hero Member
  • *****
  • Posts: 655
Re: payday loan
« Reply #1 on: Dec 01, 2011, 03:20:32 PM »
Hi denn
 
The interest and lat payment charges for payday loans are extremely high if you fail to repay your loan on time. Unfortunately you are liable to repay this debt. If you are struggling to pay then you might have to consider on o the debt management options such as a debt management plan or a debt relief order. Do you have any other debts which you have to pay? If you can give a little more information I will be happy to advise further.
Debt Expert & Author
beatmydebt.com