I have defaulted on a fair few payday loans and my Wageday Advance debt is no different to the rest.

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, along with information about the account itself.

Here is where I am today with the account: –

Current Balance: £184.75
Original Balance: £323.70
Interest and Charges: £173.70

What happened when I didn’t pay Wage Day Advance

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 20 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.

Defaulting on my Extension

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.

Account passed to Debt & Revenue Services

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 & Revenue Services.

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. Although in reality I will be settling the account in the not too distant future.

A Refund of the Charges

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.

What are my plans for the Wageday Advance Debt?

It is on my list to be settled by the end of 2013. I have already got the charges refunded which has helped reduce the balance.

The balance is quite small so it is certainly doable. One less Payday Loan outstanding can only be a good thing.

Do you have debt with Wageday Advance? If so what has your experience been like?

If you are struggling with Payday Loan Debt please visit the Debt Help Section of this blog.