I have defaulted on a fair few payday loans and my Wageday Advance account is no exception.
I was sick of rolling over all my payday loans just to make ends meet so in the end I just gave up and stopped paying them all. This post explains what happened when I didn’t pay my Wageday Advance account.
Missing the Wageday Advance Payment
As I missed my payment, I received an e-mail to advise this but Wageday Advance also offered me the opportunity to roll over my loan and then repay the loan on my next pay day. I did accept this so that I could have a bit of breathing space. It is funny what happens when you stop paying 22 creditors. Your house turns into a call centre and the whole affair can be a bit stressful. Needless to say this extension bought me a little time.
Obviously I defaulted on my extension and so the carousel of collection continued. I just ignored everything and tried to set up a repayment plan but what I was offering I could not afford. One thing I have learned is that I cannot get worried about these things. Worse things have happened believe me but that’s another story I may tell at some point.
Passed to Debt Collectors
Anyway after several months of me not paying Wageday Advance they referred my account to a Debt Collection Agency. The name of this agency is Debt Recovery Solutions. They have been OK so far. I have agreed an affordable repayment with them and it is going to take me about 6 years to repay the account. This is more because I owe a lot of money to other debts and so with the payment being pro rated it means it will take me a long time.
I have also managed to get a good chunk of default charges refunded by sending an e-mail to Wageday Advance. I simply stated that I felt it unfair that my account balance could be double what I borrowed and that I didn’t think it was fair that I should be penalised in such a way. In the end it was agreed that the default charge and late payment charge would be removed. It has been removed and this has helped reduce my balance.