CRS imminent legal action

Moonstone4

Hi there

I have received a letter from crs debt collectors
An imminent legal action letter .

It's for a loan I had with loans to go about 2y ago.

Now the original loan was 750 but they crs are asking for 1812
I am no way paying that

I sort of buried my head in sand originally as lost job and couldnt pay so ignored loans to go.

Has any one got any advice , can crs do anything .

I was just going to ignore them .

Thanks in adGance

sourcrates

Moonstone4 wrote: »

Hi there

I have received a letter from crs debt collectors
An imminent legal action letter .

It's for a loan I had with loans to go about 2y ago.

Now the original loan was 750 but they crs are asking for 1812
I am no way paying that

I sort of buried my head in sand originally as lost job and couldn't pay so ignored loans to go.

Has any one got any advice , can crs do anything .

I was just going to ignore them .

Thanks in advance

Credit Resource Solutions offer debt collection services to a wide variety of clients, such as major banks, payday lenders etc etc.


The reason your balance has increased will be due to missed payment charges, late fee`s and possibly further interest as well, this will of been added by the original creditor, simply because you chose to ignore them, so you cannot apportion blame elsewhere in all honesty.


CRS are just acting on behalf of their client, they do not own the debt, but act on the instructions from there client, so if the OC intends to take legal action against you, then CRS will be the bearer of that news.


If you are OK with a county court judgement, and possibly bailiffs knocking on your door, then continue to ignore them, if, on the other hand, you wish to take responsibility for your debts, then agree a payment plan with them, by all means challenge the amount they are asking for if it seems excessive, best to do this in writing.

fwor

Moonstone4 wrote: »

Now the original loan was 750 but they crs are asking for 1812
I am no way paying that

What was the interest rate that you signed up to? If you go to the Loans 2 Go website it clearly says "989.9% APR representative" in big letters on their home page - if you signed up to a similar rate the amount owed could quite easily be that figure, just with added interest.

Just_Di

Moonstone4 wrote: »

It's for a loan I had with loans to go about 2y ago.

Now the original loan was 750 but they crs are asking for 1812

Do you know whether you have any good reason to make a complaint of irresponsible lending?

It may depend on how the loan was taken out, was it a rollover loan etc.

Maybe get some advice on that potential avenue.

Di

[Deleted User]

Moonstone4 wrote: »

Hi there

I have received a letter from crs debt collectors
An imminent legal action letter .

It's for a loan I had with loans to go about 2y ago.

Now the original loan was 750 but they crs are asking for 1812
I am no way paying that

I sort of buried my head in sand originally as lost job and couldnt pay so ignored loans to go.

Has any one got any advice , can crs do anything .

I was just going to ignore them .

Thanks in adGance

You're aware that sounds very arrogant, yes ?
You took the money.
You didn't pay it back.
You think the lender of it should lose out because they lent money to someone with no intention of repaying it ? :mad: