Ladder Loans ceased trading.. what do I do?

dinosaureggs

Hello,

I had a loan from Ladder Loans YEARS ago. I just went onto their website and it turns out they've ceased trading. I was just wondering how I go about repaying this loan now? Is it written off or what? So confused :undecided

[Deleted User]

It'll be picked up by the administrators. Make sure you keep the funds available.

glennstar

Ladder Loans is one of the Dollar Financial Corporation's brands, along with Payday Express and the Money Shop. DFC are very much alive and kicking as they are owned by Loan Star Funds who are a multi-billion dollar fund.

I understand DFC are currently in the process of consolidating their products under the Money Shop brand. I would expect you to get a polite note form them at some stage to the effect.

jsk_1964

I understand that Ladder Loans have ceased trading. This morning I have received a letter from them saying they will accept 25% of the balance I owe them. The account with them is in default and has been for some time. My question is do I pay it? Indeed, do I have to pay anything at all? I have not received any correspondence from them in the last 3 years. I would appreciate anyone thoughts on this? Thanks

antrobus

jsk_1964 wrote: »

I understand that Ladder Loans have ceased trading. ....

Ladder Loans is a trading name of Instant Cash Loans Ltd, which still exists and trades as 'the money shop'. Amongst other things.

jsk_1964 wrote: »

...This morning I have received a letter from them saying they will accept 25% of the balance I owe them. The account with them is in default and has been for some time. My question is do I pay it? Indeed, do I have to pay anything at all? I have not received any correspondence from them in the last 3 years. I would appreciate anyone thoughts on this? Thanks

Six years before the debt becomes statute barred in E&W. Instant Cash Loans Ltd has had a tough time in recent years by the looks of things.

jsk_1964

Then if that is the case, then surely I should have received some kind of correspondence to that effect? Do they legally have to inform me?

DCFC79

You owe the money so yes pay it, if you have the means to pay what is offerdd in the letter.

Marktheshark

You reply with a CCA demand.
And demand for a copy of the signed deed of assignment
If they do not have it it becomes 0% balance