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Good evening all, writing this on behalf of my friend who is in need of some help.

 

She took out a personal unsecured loan 3/4 months ago with Loans2Go for £500 and the amount that needs to be repaid is a smidge over £2,000 (Crazy interest rates, is this legal?)

She's struggling with the monthly payments and will not be able to make this months payment.

 

What's the best route forward for her?

 

She also mentioned when she signed up they only sent her a CPA agreement and no documents about the loan T&C's etc.

Thank you

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Good evening all, writing this on behalf of my friend who is in need of some help.

 

She took out a personal unsecured loan 3/4 months ago with Loans2Go for £500 and the amount that needs to be repaid is a smidge over £2,000 (Crazy interest rates, is this legal?)

She's struggling with the monthly payments and will not be able to make this months payment.

 

What's the best route forward for her?

 

She also mentioned when she signed up they only sent her a CPA agreement and no documents about the loan T&C's etc.

Thank you

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I'm sure that we will be able to give you some advice but is there any particular reason why you posted the identical story in two separate threads into separate sub- forums?


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I'm sorry, I thought I deleted the original one. I tried to find a more appropriate sub forum for it.

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Was her credit file full of defaults and other lending when she took this out?


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Moved to the pdl forum

see the irresponsible lending guide on the homepage


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How long was the loan term. 1500 interest is extremely excessive and there's a few avenues open.


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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Full of defaults, yes. One credit card and a rather large bank loan.

Will forward that link to her.

Length, 18 months.

 

Edit: she just checked and said its mainly late payments on her accounts.

Will different credit report companies show up different results?

 

Situation is similar to mine in terms of she's been making reduced payments on her unsecured loan for 6+ months so it shows as payment has been made on her clearscore.

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poss not diff results on the same debt

but some companies only use one of the 3

so all debts might not show on one provider


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Understood. So will it be worth her pursuing this with a IRL complaint? Also she said they only done a 'quotation and personal search' rather than a full credit check on her.

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On 29/11/2018 at 17:35, renegadeimp said:

How long was the loan term. 1500 interest is extremely excessive and there's a few avenues open.

Hey, what avenues would she have? Still struggling with monthly payments and now some solicitors have sent her a letter saying she has 7 days to pay 2months of arrears. otherwise L2G will serve a default notice and look to reclaim the money by legal routes.

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go that IRL complaint running yet?

 


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Why are you worrying about what a silly dca and solicitor are saying to you? Repayments are made according to YOUR circumstances, not whatever amount they shout at you.

And as DX said,  did you get the Irresponsible lending complaint going?


Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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