thanks. the problem for me was that I missed repayment by a week but by then interest+charges had resulted in an extra £100 which i wasn't willing to pay. But then while in discussion with the company the charges kept on increasing. It's like hole kept getting bigger which is what they wanted. And n...

I have one payday loan for £350 that's gone to £1200 in about 2 months. Is there a cut off point for interest/charges to be stopped or do they continue accumulating? will it end up at £5k?? And if they took me to court could I argue an 'excessive charges' point? I'm willing to pay the original loan ...

...one issue that has come up often elsewhere is this notion that payday lenders can ultimately (if they went to court) only claim the amount lent plus only one month's interest. No one can give me the legal/oft basis for this and I reckon it's an urban myth. The reason I was digging around for this...

I totally agree. It's only recently I found out that Payplan were being paid by the creditors!!! I couldn't believe it. Nowhere was this point made/highlighted. i think it puts a different complexion on things. Had I known this I wouldn't have signed up with Payplan -ultimately they are not going to...

I've been on a DMP with Payplan for over 2 years. One of the creditors, Halifax, had a starting balance of £6500 on their credit card. And I've paid £3000 towards that particular debt. However Halifax have written me a letter (through moorcroft) showing the balance is still £6500. i've argued that i...

yup job

i've been on DMP with initial debt of around £18k. Have paid about £12k into potsince 2009. Fell seriously ill (life saving op). Became dpressed etc.Now I check to see that i still owe £13k because of interest etc. I'm really fed up. Wish i started IVA rather than DMP (I was advised against IVA by t...

sorry i meant 2014. I had an ileostomy and have to wait 2 and a bit years before a reversal...

thanks for your thoughts

phone up each of your creditors and say 'look I am thinking of applying for an IVA to pay back 30%-35% of the total amount owed to all creditors. However if you could agree cutting 50% of loan now then I can pay that back over 24 months'. The incentive is that they would get back more now then if i ...

possible test case - card company gives out money, sees money being gambled,increased credit limit etc etc. dr gives out medication, knows medication being abused, prescribes further medication....that'll be my argument pre going to court and possibly in court.

thanks all for the helpful comments. Does anyone know whether courts have been asked/have decided on credit card liability for a build up of gambling debts?

Hi all, I owe halifax around £6.5k and have received a letter from Moorcroft Debt Collectors. The initial debt was for £6k and I started paying via a debt management plant through Payplan payment. Over 2 years I paid approx £3k but stopped paying when I realised that my debt was still around £5.4k b...

Hi all, thanks for all your advice and kind comforting comments . Gambling is awful but when you're in the thick of it and you don't see what others see. Whilst others include friends and family it also includes the credit companies who imo should see that someone is gambling with their money and po...

thanks. if I wanted to pay it over 4 years when i can actually pay it over 2 year, would that be possible? i.e can I determine the lenght of the IVA or is it determined by the surplus amount?

yes my credit rating was low when I started the DMP. Are all IVAs five years?