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If they keep contacting you while you’re working with the debt adviser, send an email asking them to stop.
Your payday lender should not try to put you under undue pressure, including: If you feel your payday lender has treated you unfairly or you’re unhappy with the repayment plan they’ve proposed, you should first complain to them. The lender then has eight weeks to resolve the situation.
If it judges that the payday lender hasn’t resolved your complaint properly or has treated you unfairly, the Financial Ombudsman can order them to pay you compensation.
When people ask themselves “how do I get out of payday loans? Follow these five steps for help with payday loans you can’t afford to pay.
Your payday lender might suggest that you ‘roll over’ your loan for another month or so. It means you have to pay even more charges and interest – so you end up owing much more money.
What you should do instead is seek debt advice and agree a repayment plan that you can afford with the lender.
You will still owe the debt and the lender can go on charging interest and fees so it’s essential you get free debt advice to help you deal with the problem.
(See How to complain about a payday lender below.) If you can’t afford the loan repayments or are worried about paying the loan means you might not be able to pay for essentials, such as: If you’re struggling with money, you can talk to someone today, online, by phone or face to face.
We have specially trained advisers who can help you start sorting out your financial problems.
Remember to keep copies of all emails and letters you sent to the lender and write down details of your phone calls to them.
This is evidence of how you’ve tried to contact them if they don’t reply and you need to make a complaint.