PDL Repayment Plan letter template??

[lescam08]

Hi, Can anyone help to point me in the right direction of a Payday Loan Replayment plan template letter? The companies I have accounts with are Wonga, Lending Stream and WDA.

 

Thanks in advance

[renegadeimp]

Hello .

 

Theres no need for a template really. Just advise them you cant meet the scheduled repayment, and offer them what you can afford. Make sure to add that you will be open to reassassment in 3-6 months.

[lescam08]

Thanks for that!

 

I sent emails to all payday loans and I received a few replys back, usual from wonga, please fill in the attached form. 1 month loan sent me a strange reply, would anyone mind having a look?

 

 

Dear Lesley,

 

Thanks for getting in touch, your correspondence is much appreciated.

 

I have reviewed your account and based on the period of time you have been outstanding I am able to offer you a payment plan. In order to ensure your account is settled as quickly as possible I can offer you*either*4 instalments of £106.00 or*8 instalments of £65.00.

 

On receipt of the final payment from either option, all remaining outstanding balance will be removed and your account closed as paid in full.

 

This agreement has frozen your account balance at the below point:

 

Due Date: 25/07/2012

Original Loan Amount: £325.00

Initial Interest: £97.50

Further interest added (as a result of default): 2 X standard interest: £195.00

 

TOTAL BALANCE REPAYABLE: £617.50

 

Please provide the following details so we can action your repayment plan;

 

·******** Payment date (the date you wish the money to leave your account each month)

·******** Payment amount (the specific amount for us to take from your account)

·******** Card Number (the long number on the front of the card)

·******** Start Date

·******** Expiry Date

·******** CV2 (last three digits from the back of your card)

 

We are committed to working with customers who are in genuine financial difficulty and hope that, if you are having difficulties in meeting the required payment, you will contact us with your payment proposals.

 

We look forward to hearing from you.

 

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Dear sir/madam,

 

I am writing to you to inform you that due to sever financial difficulty I am unable to meet this months scheduled payment.* I have had a very unexpected change in my personal circumstance and I will be unable to pay the current open loan in one payment. I propose a repayment plan to assist in clearing the outstanding amount in the quickest means possible to me.

 

I propose £35.00 every month for 6 months, to be re-evaluated once the 6 months has expired. I would greatly appreciate that all charges and interest are frozen to allow me to pay back this sum as promptly as possible.

 

I would also ask that all communication is done by email, letter or by my personal mobile phone, I will not be able to answer my mobile phone during working hours, however, if you leave me a message I will respond to this once I have finished work for the day.

I am not permitted to take personal calls at my work place and this would be frowned upon by my workplace so I ask that no calls are made to this number.

 

Can you please send me your account information so that I can set up a standing order for the payment to be made? I shall ensure that this is set up for payment to be received no later than the 27th of each month.

 

I do hope that we can arrange a payment plan to alleviate the stress of my whole situation, and to also enable the repayment of the loan to your company as promptly as my finances will allow. I look forward to hearing from you and will help in any way I can to organise repayments with your company as soon as possible.

 

Your faithfully

 

Lesley Campbell

 

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[email protected]

 

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/

 

1MonthLoan Team

 

 

 

1monthloan.co.uk is a trading style of Think Finance (UK) Ltd, registered in England & Wales, company number 05041905

Registered office: Fortress House, Skyliner Way. Bury St. Edmunds, IP32 7YA. Copyright © 2012 Think Finance (UK) Ltd

 

The information contained in this message is for the intended addressee only and may contain confidential and/or privileged information. If you are not the intended addressee, please delete this message and notify the sender; do not copy or distribute this message or disclose its contents to anyone. Any views or opinions expressed in this message are those of the author and do not necessarily represent those of Think Finance (UK) Ltd. No reliance may be placed on this message without written confirmation from an authorised representative of the company

 

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[renegadeimp]

Repayment plans are done according to YOUR financial circumstances. Not whatever arbitrary amount/date a min wage desk jocky in a backstreet office decides.

 

Also, if you are willing to recieve phone calls from them, you MUST record the call. They can and will say anything to get you to pay more, or to get you to give up your bank details so they can debit the amount regardless of what was agreed.

[lescam08]

Why should I go back and say? Just that all I can afford is the £40.00 that I offered. Their offer doesn't make any sense either it looks like they just picked random numbers and said yeah pay this for X amount of months!

[renegadeimp]

Just keep telling them what you can afford. It's their problem if they wont accept it. Not yours.

[lescam08]

Just wanted to say thanks, they accepted my proposed plan and they have sent me their account details to set up a standing order. thanks very much

[havinastella]

Just my thoughts, but I wouldn't be paying them £617.50!

[lescam08]

Should have said its just capital plus one months interest they have agreed to be paid back.

[renegadeimp]

Make sure that specific amount is in writing and they wont sell any remainder on.