Hello Tom 1982

I think the best thing you can do is come to an arrangement with the bank to start paying the ovedraft back over a period of time or look for a 0% credit card and pay off your overdraft with it! Why on earth did you decide to take out a pay day advance loan and suddenly decide that you weren't going to pay it back as agreed? Sorry to say this but you shouldn't have taken the pay day loan if you couldn't afford to pay it back! I appreciate you have a young family and times are hard, with the pay day fee and bank charges £233.33 has been wasted which you could have saved!

I hope you get it sorted. It's a lesson learnt I hope!

Hi All,

A while ago i took a pay day advance, for those who are not familiar you take a loan which is repayable on your next pay day. Anyway i had one for £700, which i rolled over instead of having this amount taken on pay day, at a fee of £133.33....

After discussing with my partner i decided not to honour the pay day loan and write to the company in question offering to repay the money back at an amount i can afford.

I then cancelled the debit card they had details of (this is how they take the money) and thought that was it, it was due out my account on the 29th May 09, nothing left my account, then on the 14th Jun 09, £833.33 left my account!, leaving me about £600 overdrawn! The bank had put this in a suspense account then decided to honour the transaction due to a pattern on my account of the same amount going through previously.

This can;t be right? how can they take this money on a cancelled debit card? i had even used my new card before this date.

I have emailed the bank several times, the last i heard from them was on 3rd July saying my complaint dated 2nd July would be responded to within 10 working days, still i have nothing. (although been reliably informed that a letter was sent on Friday)

If this wasnt enough the company that took the money cant find it and are asking me for an authorisation code, which ia sked the bank for and they cant locate it!!!!!!! The company is threatening me with debt collectors!

Further to this i recieved my bank statement detailing £105 of charges for a 'guaranteed card payment' i never guaranteed anything i cancelled the card !!

The letter i should recieve tomorrow i suspect will not tell me what i want to hear, does anyone have any advice on what i should do??

I have a young family and we have now been without £833.33 for over a month, quite alot for us.

Thanks.