Payday Loans. Do not bother paying them back at all, read why here Payday Loans. Do not bother paying them back at all, read why here

Payday Loans (also called a payday advance) is a small, short-term loan that is intended to cover a borrower’s expenses until his or her next payday. There has been some criticism of these loans in the UK recently.

Controversial payday loans that charge astronomical interest rates of 2,000% or more over short periods to desperate borrowers have become hugely popular since their emergence in 2006, according to a report by a consumer watchdog., for instance, charges borrowers £50 for a loan of £200, which for short-term borrowing is an APR of more than 22,600%. Payday Loans. Do not bother paying them back at all, read why here

If you have many debts and they just keep growing, then do this

With lots of debt, come lots of daily calls, letters and stress, it becomes soul destroying. Debt collectors only pay around 5% for debts. They send you a letter asking to pay £5000 for a debt they only have paid £250 for, £4750 is pure profit. Bank loans, credit cards and payday loans have ‘bad debt’ departments. If you keep not paying your debt, they eventually resign themselves to the fact, that getting something back off you is better than nothing. This is how you can legally wipe off 80% of what you owe. They break even financially and lose nothing, still making profits off everybody else, meanwhile, you only pay back what the debt was bought for. So instead of you paying for some bankers new BMW or house extension, you beat the system. It is all very simple, write down all your debts, fill out a few details and have this resolved by next week. The free company I used to do exactly this, that can help you too is here

If you need a payday loan then you are at a point where you are so short of cash, there is no alternative and whatever you need it for, cash is needed. However, once they have you, they apply multiple tactics to get as much cash from you as possible. So if you have taken a loan and fallen behind on a payment, or they are adding extortiant amounts of charges on your account. Payday Loans. Do not bother paying them back at all, read why here


1. Call your bank and tell them your card has been stolen and you need a new card. Why? The payday loan company has your details, which means without you knowing they will use a POS machine to debit your acc for the loan charges you didn’t know had been applied and you wont know until you try to use your card somewhere and its been declined. With new card details, they wont have them and wont be able to debit anything.

2. You would have had to put your employers address and tel number on the application. This means they will use the tactic of calling your work and trying to embarrass you into paying. Who wants their collegues to know they are in trouble? With one letter you can send it to the payday loan company which will mean they are breach of Section 40 of the Administration of Justice Act 1970, and the Protection from Harassment Act 1997 if they hassle you at work

3. CCA request, stall them further by sending off a CCA request for the original agreement. You will be surprised how many cant and if they cant, you owe nothing.

4. At this point they will be writing to you request payment. One simple tactic is to call them and say you are under consultation to be made redundant. You are being taken to court for non-payment of council tax and other priority debts. Which means, you only have enough to pay 70% of the original payday loan without any charges. Otherwise they will just have to wait for court outcome and are welcome to write to court.