Another update to my debt list is my Payday UK Debt. Another Payday Loan to add to the collection if you like.
I had been deferring this account on and off for about two years or so. Sometimes I would repay it in full but I would always be running back for more at some point.
Here is an overview of my Payday UK account: –
Current Balance: £556.51
Original Balance: £625
Interest and Charges: £125
What happened when I didn’t repay my Payday UK Account?
Well I received a number of e-mails asking me to make payment and offering various options including the dreaded rollover. As that was not something I was willing to do I just left it.
I might have received some phone calls but I disconnected my home phone.
The first thing I did was to make sure I had changed the bank account where my salary was paid in to. I also cancelled the debit card on the original bank account just in case. That way I could be confident that my wages would be safe.
After three months of none payment the account was passed to a company called Keyes Whitlock.
What happened with Keyes Whitlock?
They sent me several letters requesting payment but not much else happened. I did try to set up a repayment plan but I didn’t stick to it. They were more than helpful and it was I who was the problem on this occasion.
After defaulting on my payment arrangement, I just played the waiting game once more. I basically waited to see which other debt collection agency would get the account. It wasn’t long before a new agency was introducing themselves.
Face2Face Contact arrive on the Scene
The next bit of fan mail came from a company called Face2Face contact. I did end up agreeing a repayment plan with them and didn’t really have any further trouble.
Finally Mackenzie Hall collect the Debt
After around a year, the account was passed back to a company called Mackenzie Hall who I am still making payments to today. They have purchased the debt from Payday UK so I can’t see there being any more debt collection agencies being involved.
I did have some trouble with Mackenzie Hall on a different payday loan account. I have learned a lot from that experience so it was plain sailing when I set up the arrangement for my Payday UK account. I used my standard offer of repayment letter along with my income and expenditure information.
What are my Plans for my Payday UK Debt?
For now I will continue repaying it on a monthly basis. I think it is likely that I will settle the account in early 2014. There aren’t any charges except just the original interest due.
It is a pretty straight forward account. So long as I stick to my monthly payments, I doubt I will hear anything from Mackenzie Hall.
If you are struggling with Payday Loan Debt, please visit the Debt Help Section of this blog.