Help composing an email to a loan company?

lanabanana96

Morning everyone. First off, I want to say thank you to the people on this forum who helped me out a couple of days ago. I was in a very bad situation regarding debt and was contemplating ending my life. You helped massively.

I have since calmed down and sought out help via stepchange and am waiting to set up a debt management programme. However, this will take about 2 weeks or so due to me needing to send documents in such as proof of who I am. I also need to obtain who I have debts with.

In my recent post, I spoke about the company Loans2Go and how they were threatening me with door step collectors. I called them to arrange a repayment plan and was reduced to tears as the woman said she would not set one up for me unless I sent in 3 months worth of bank statements aswell as proof of my disability. She said if I didn't do this they'd send doorstep collectors round to my house. I told her it was plain harassment to threaten a disabled person in that way and she claimed it wasn't because it was in my contract - I'm reading the contract right now, for the tenth time in 3 days and it doesn't say ANYWHERE that failure to repay on time will amount to door step collectors.. I did not want to send in evidence of my disability and bank statements. I am 100% not comfortable with doing that. I'm pretty sure these people have no right to ask for my bank statements. If they are so set on having bank statements why didn't they ask me for bank statements BEFORE they approved me for the loan?

I was willing to come to a reasonable arrangement. My current payments are £110 a month, I was willing to drop them to £50 a month for a few months. Nope, Need to send personal information in. Well I'm not doing that.

In the end I was so panicked that they'd send door step collectors round to my house that I borrowed the arrears I owed from my boyfriend and used the last of the money I had in my bank account to pay them off. This has left me with no money to eat or pay my bills for another week.

I emailed them yesterday after I had gotten my head together and I told them that I could not afford the upcoming repayment (Due on Friday) and I also wasn't comfortable sending in bank statements and proof of my disabilities. I really could not face calling them again after the awful phone call I had.
They replied with a pretty generic response stating any information I sent would be kept confidential. I couldn't give a sh*t, they have no right to harass a vulnerable disabled person and see their bank statements. Any person, in fact. There is NOTHING in my loan agreement stating that if I fail to repay they need bank statements or I'd have not been an idiot and signed up for a loan with them. I have seen several other reviews saying the same thing about this company, that they were willing to set up an agreement but the company refused unless they had bank statements and medical evidence. I'm actually surprised by how many people refused to send in this evidence, just like me.
It's as though they don't want to help out.

So today I'm wanting to send them an email and basically outline that I won't be harassed anymore or I will be reporting them. How do I go about this? Their threats about doorstep collectors had me in tears, wanting to end my life. I know in another month or so I will receive the same threat if I don't do something now.

Thanks for any answers in advance.

matttye

Many creditors have a proforma that people can fill in showing their budget information when they’re suffering financial hardship. Maybe see if they have such a document they can send you?

The creditor is asking for your bank statements as proof of your financial hardship, which when you think about it is not an unreasonable request as you are asking to reduce the payments to lower than the amount you agreed. But usually simply outlining your financial circumstances in a statement of affairs or similar is enough.

I would email them saying that you’re suffering financial hardship and want to work with them towards paying off your debt, make a realistic offer or what you can afford, tell them you are not prepared to send in bank statements but would be happy to provide information about your budget if they have a form you can fill in, and that they are not to send doorstep collectors around as the police will be called. Tell them you are only prepared to deal with them in writing because you want a written record of all dealings (email is fine).

SnowTiger

lanabanana96 wrote: »

I have since calmed down and sought out help via stepchange and am waiting to set up a debt management programme. However, this will take about 2 weeks or so...

[...]

In my recent post, I spoke about the company Loans2Go and how they were threatening me with door step collectors. I called them to arrange a repayment plan and was reduced to tears as the woman said she would not set one up for me unless I sent in 3 months worth of bank statements aswell as proof of my disability. She said if
I didn't do this they'd send doorstep collectors round to my house.

[...]

So today I'm wanting to send them an email and basically outline that I won't be harassed anymore or I will be reporting them.

It's extremely unlikely Loans2Go will send anyone to your door.

They don't appear to be a door-step lender like Provident, therefore they won't have an army of collectors.

Hiring a collections company to come knocking would be expensive and pointless because you could simply tell them to naff off.

If I were you I'd wait for Stepchange to do their stuff.

You could tell Loans2Go that you're in communication with a debt charity who will contact them on your behalf in a few weeks.

Personally, at this stage, I'd also stop making payments towards the debts. Your credit files will already be wrecked and your debtors will be adding eye-watering fees and interest to your accounts whatever you do.

Gaz83

lanabanana96 wrote: »

In my recent post, I spoke about the company Loans2Go and how they were threatening me with door step collectors. I called them to arrange a repayment plan and was reduced to tears as the woman said she would not set one up for me unless I sent in 3 months worth of bank statements aswell as proof of my disability. She said if I didn't do this they'd send doorstep collectors round to my house. I told her it was plain harassment to threaten a disabled person in that way and she claimed it wasn't because it was in my contract - I'm reading the contract right now, for the tenth time in 3 days and it doesn't say ANYWHERE that failure to repay on time will amount to door step collectors.. I did not want to send in evidence of my disability and bank statements. I am 100% not comfortable with doing that. I'm pretty sure these people have no right to ask for my bank statements. If they are so set on having bank statements why didn't they ask me for bank statements BEFORE they approved me for the loan?

While I sympathise with what you're going through, they're not really doing anything wrong here. Of course they're going to need proof of your income and disability status to prove your income and disability. If they accepted people's word for it without proof, everyone would just start claiming they were disabled.

Not that that's what I'm saying you're doing - I'm just saying it's a perfectly reasonable request.

Pixie5740

Step Change have a number of template letters you can use.

https://www.stepchange.org/debt-info/dealing-with-debt-problems/sample-letters.aspx

Get formal, stop phoning, stop emailing and start sending letters.

Pixie5740

you were also given links to template letters from National Debtline on your previous thread that you could use.

sourcrates

These companies make these idol threats all the time, 99% of the time they remain just hot air.

Loans2go are a loan company, they are not a debt collector, they would have to engage one first, and the number of debt collectors who use doorstep collection agents, you can count on one hand.

You should not of paid what you cannot afford, and why on earth do you keep ringing them, everything should be in writing only, the telephone is there main weapon of choice, as you have found to your cost, they would never dare put into writing what they spill out on the phone.

It’s standard old school collection activity, idol threats so you pay up, oldest trick in the book, stay off the phone in future, please, listen to stepchange and don’t allow these people to influence you further.

BrassicWoman

Doorstep collectors aren’t court officials like in Can’t Pay... they turn up and ask for money. You say no. They go away. They have no powers at all. So, just say “ok” and then don’t open the door to people you don’t know.

Feel free to have fun quizzing the call centre. Who employs the collectors? How do you train to be one? Do they get fit from the walking? Where do they recruit? And so on.