Loans2GO

[smithyone]

Hi,

i stupidly took a short term loan of 500, and have now missed payments due to personal circumstances and find it unaffordable, now they are chasing me for nearly 3 times the amount.
I sent them a letter offering £5 a month but now they have asked for 3 months bank statements, payslips and an income and expenditure form, I really dont want to share that sort of information with these sharks, can anyone please offer some advice where I stand please, there email response was as below.

We are still waiting for your Income & Expenditure form.
Please send the completed form along with the recent bank statements for past 3 months, copies of benefit letters and / or other payment commitments which will help us gain a better understanding of your increased expenses which is affecting your ability to meet your contractual payments with us.
Please send this information along with your payment offer to prerepo @loans2go.co.uk provided no later than 02/06/2016.
If you are have having any difficulties or wish to discuss this further please call our office on

[Snoopy1948]

Re: Loans2GO

Hi smithyone ....

I know how we all feel about lenders like this but the fact remains that you were advanced £500 on terms that you had agreed to. This company also gets a good press on Trust pilot so it cannot be all bad.

If you still owe them the principal sum, then an offer of £5 a month will take in excess of seven years to repay which is questionable from their point of view, particularly as you specify the loan from inception as short term. Their request for an income and expenditure form plus other enclosures is routine and not unreasonable under the circumstances. They are entitled to know your financial situation in order to recover their losses.

Personally, I would supply them with the information that they require and take it from there. If you have only offered £5 a month, they are entitled to know why. If you think about it, the situation is no different if you had lent a friend £500 and then they ran into difficulties in repayment, you would be fully entitled to know why you could not recover your money.

These people are not making any threats at this point, they just want you to prove your case, which to my mind, is not unreasonable.