Payday UK - don't use this company

I empathise here Lana.

All Payday loan companies work on the 'quick kill' working practice that their loan plus high interest will be repaid within one month, two at most. It does remain a risky way to lend of course, hence their 1200% plus APR they charge. Their contracts are no doubt watertight and would have to be to underwrite such an awful lending practice. I don't know how they react when, as in your case, a loan has to be negotiated over more than the two months allowed. But as it's business that they have no wish to entertain, they react like they did in your case. As I have said in previous posts, these companies should be hit hard with urgent statutory legislation. In fact, with I think they are expecting it. I have added a link below to a MoneySavingExpert.com thread abiout PaydayUK scam.

http://forums.moneysavingexpert.com/showthread.php?t=2614917

That's awful Lana, how these companies are allowed to do this I don't know.
I'm with Snoopy and agree that companies like this should be hit with some legislation and soon.
It's good to see that you are being philosophical about it and consider it one less debt to deal with, well done!

I wish you all the best with this, Lana.

These companies should be outlawed.

I'm with the Snoops, Lillie and Feline here, Lana, the sooner these terrible practices are stopped the better. You're certainly trying your very best to sort your debts out, you will get there! :-)

Thanks for all your support people. It's a shock to see that money out of my account today but I am also happy I don't have to deal with company ever again. I read that thread you attached Snoopy - I am shocked!! Surely what they did to this poor person is illegal? It should be!

This company should be well publicised for the heavy handed approach as they prey on the vunerable without any regards towards the dillema and stress they cause their clients. Everyone should avoid this company and I wish you luck sorting out your finances.

What a cheek Lana - There are such a lot of these terrible company's out there. I'm sure you won't be drawn in again - it's not worth the worry and having to pay them all the extra interest.

You are right Sabre - it definitelt isn't worth the stress

Sorry to hear about this. How awful that they can just take the payment. Like you say at least it is now paid off and you wont have to worry about it anymore.

Just seen that Pay day are charging 1737% what a terrible
interest charge and a great amount added to original loan

Yes all of the pay day loans are very high interest but I'm sure this one is even higher than most others.

i once used payday uk and at first they seem like a good company, you get your loan 3 days after you apply, not bad, byt then about a year later they have taken £200 pound in error from my bank account, and my bank cant get the money back as i had given payday uk/mem my details in the first place. my bank said contact them. its been three months and after phoning them over 20 times i still get the same answer "we are looking into this matter and we will contact you when we find out why this descrepency took place". im still waiting!!! havent used any others since.

I have heard pretty good things about payday UK too, meant to be a resonsible lender