Loans company threatening court action, despite paying

Greg89

I've been corresponding with emails back and forth with this company.

They know I wish to make monthly payments, they know I'm in full time work.

I just completed a income and expenditure form last week and proposed an increase in my monthly payment which they noted.

They then sent an email on how to make these payments.

I did say I can make Monthly payment and will be making another monthly payment.

I've got around £510 left to pay off.

They sent me an email yesterday with the total sum owed, they may imply a ccj and take legal proceedings. I have been sending emails saying I obviously have been making payments and will pay every month. 

I'm confused.

The email said:

" we hereby terminate the agreement and demand immediate payment of the balance of the total amount payable, shown above. We can accept payment through any of the following methods:"

sammyjammy

Apologies, I haven't read your previous posts but its perfectly normal to get threatening letters if the amount you are paying isn't the contractually agreed amount.  Just keep paying at your own pace, they'll soon be gone.

Brie

Companies make threats to ensure that people comply. 

Well it's also to inform what MAY happen if the customer doesn't comply.  It's like saying "there MAY be rain today".  Well there may be or may be not.  Until it happens where you are standing you don't know for sure despite the best weather forecaster.  

Add to the fact that so much communication is automated that your non automated reply is waiting for a real person to make a note of it on your file.  Add to that until the next payment actually hits your account they don't know if you're going to pay it.  So yes you owe £X and if you don't they MAY take legal action.

Keep copies of your emails safe.  Should they ignore those and your payments and they do take you to court (exceedingly unlikely) then you have proof for the judge to throw the book at them. 

sourcrates

@Greg89

A few more details would be good Greg, what company is this, a lender, debt purchaser or a debt collector?

If you familiarise yourself with the civil procedure rules, you will see before any court action can take place, a "letter before action" must be sent, this is a long winded document with a 30 day return window, its intention is to get you to set up a payment plan, as you already have one, that makes all of this a bit of a mute point really.

The courts don`t take kindly to having their time wasted, if a payment plan is already in place, legal action is pointless, and a court may take a dim view of a creditor acting in this fashion.

Lots of collection letters feature standard wording, listing what can happen due to non payment is commonplace, and includes legal action as a possibility.

What is the actual wording they are using, i suspect you are reading far too much into it.

Greg89

Thank you for your replies. I'm not sure if I would get into trouble naming the loan company. It is a lending company.

The email just stated "final notice" by email this morning. I don't know if the final notice has to be in email. However they did say they written to me on 12/02/2024.

Previous emails stated thank you and I did just complete another income and expenditure and I've paid previous months too.

Which I written two emails back.

They clearly know my intentions to pay, they stated themselves what day would I like to pay etc, these are the options to pay and all that the previous days. I've been paying, I paid an monthly amount last month.

Now the final notice, this is just some of it:

The email stated:

" we hereby terminate the agreement and demand immediate payment of the balance of the total amount payable, shown above.  We can accept payment through any of the following methods:" if they written to me on the 12/02/2024.

sourcrates

Greg, your anonymous on here, it helps to know who the lender is as we know most lenders modus operandi, so we can tell you if they are full of it or being serious.

The most important thing here Greg, is that only letters in writing are legally compliant, emails, calls etc do not count as anything.

They are just trying to intimidate you.

Sounds like the wording of a statutory default notice, but again, to be valid, it must be sent in a letter.

Wording is just standard, nothing to worry about, it`s a legal requirement to send it to you, but it should be in letter form.

Keep making the payments you have promised, nothing is going to happen here.

Greg89

It is loans2go the lender.

I've already been making payments each month.

I've already been corresponding with them via emails, I've recently completed an income and expenditure form, I've stated I'll make an increased payment each month, I'll be making a payment tomorrow.

I'll have to check if they did send a letter on the 12/02/2024, then again, I've been making payments, they have been complying with my payment plan.

The email stated 'final notice' with that in email.

sparks_2023

Have a read of debt camel's article on affordability complaints and loans2go.

https://debtcamel.co.uk/worst-loan-in-britain/

Don't hang around. If you want to make a claim do it now. These sort of firms tend to go bust regularly and then the partial refund avenue is likely closed.

fatbelly

See, it's worth naming them so we can be helpful to you and others who are reading.

Loans2go were logbook loan lenders. When forced out of that market, they tried to exploit a loophole that will soon be closed and probably finish them so that the individuals concerned will have to reemerge somewhere else with yet another product. Until that happens they will be selling their bad debts at a pittance to any scumbag debt buyer who will cooperate. Start the complaint process now.

https://debtcamel.co.uk/worst-loan-in-britain/

ayupmeduck

I have loans 2 go loan, haven't paid for a few months, after making reduced payments for a while. I sent a complaint to the FOS and it can back in my favour with all interest to be removed along with all payments reduced from ordinal loan amount and to be wipe from my file once I've paid the remaining balance. I have still to hear from them above this though.

Don't worry about letters unless you get an actual claim form, which is unlikely.