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Very scared and unsure of how to undo my stupidity

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  • Very scared and unsure of how to undo my stupidity

    I'll write up properly tomorrow when head in better place, feeling extremely low and stupid right now.



    I have been fighting to get interest paused on my currently active payday loans, as I have got 5 late payments on debts this month and have over 5 defaults on credit file.

    Currently my debts are already huge, i have over 11 active loans, which I am battling to keep up with meeting the minimum monthly payments in this spiral of having to borrow from additional lenders to keep on top of my finance. The total debt I currently have to meet the minimum repayments on each month is aprox 7,065.22 (This value is as of 28/12/2017). This is borrowed from 11 Short term/High interest loans, and 3 high interest credit cards: SafetyNet Credit, Satsuma Loan, Lending Stream, Instamoni, Piggy-Bank Loan, QuidMarket, Cash4unow, TrustedQuid, Ferrantum, Bamboo Loans, Likely Loans, Capital one & Vanquis

    This is where my stupidity happened. I've rang up lending stream 2 days in a row to ask if they got an email I sent to advise of my debts and ask for help to pause interest. Both times they said they hadn't I told operator my situation. I had a 190 and 200 active loan. Today I logged in to check for message replies to my email and got a message on screen saying I was now able to take a third loan for 960! I was very stupid took the loan and have repaid my rent arrears today. So now over 8000 in debt and very scared I'm going to get in trouble.

    Also today is cash4unow rang me to say they got my email but as my finical details were different to loan application last month and they now taking legal action for fraud! (my total monthly debt payments was a value I put for what I have agreed at reduced rates)

    I've really ruined things by mistakes. I'm so scared I've just made my whole situation crash down.

    Yes I'm to blame.

    Last week I had successfully had debts from quid market and 247money completely wrote off from bad lending (340 and 520 loans)

  • #2
    Hi Odc and welcome to AAD. Try not to worry, much easier said than done! It appears to me that there may have been some irresponsible lending. We have a member who specialises in payday loans and I will see if he is around. In the meantime read how other people have dealt with similar problems. Try not to panic.
    I'm an Official AAD Forum Moderator and a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of allaboutDEBT Ltd. Any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - find a solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it to abuse@all-about-debt.co.uk or send a message to any of the Forum Site Team. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Hi Odc as cym says, TRY not to panic, it looks like you have been let down by the lending company's, not good of them to lend when you have told them you have difficulties,

      Please try and keep paying only your essential bills, ie; Rent, heating, council tax ect, if you have nothing left to pay the loans and credit cards they will have to form a que.

      as for the fraud charge that could be to panic you into paying, they took your details they should of checked, their fault not yours
      I'm an Official AAD Forum Moderator and a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of allaboutDEBT Ltd. Any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - find a solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it to abuse@all-about-debt.co.uk or send a message to any of the Forum Site Team. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username or send me an email direct: nightwatch@all-about-debt.co.uk

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      • #4
        Hi , reiterating all of the above, also it may be wise to keep the email offering more money when you told them of your situation.
        it's easy to say don't panic I know , but severally been there.
        if you do it today and you like it you can always do it again tomorrow


        I'm an Official AAD Forum Moderator and a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of allaboutDEBT Ltd. Any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - find a solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it to abuse@all-about-debt.co.uk or send a message to any of the Forum Site Team. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username

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