TM Legal Services are going to take me to court if I don’t pay

[Crawford]

Hi,
On 06/04/2919 I took out a payday loan via Lending stream for £200, I was not working at the time and really stupidity lied on the application form to say I was working. I also suffer from PTSD and depression which I also stupidly did not declare to Lending stream.

Since I took out the loan I have been unable to pay them back so I had a company called Assets collections and Investigations chasing me who have now transferred the debt to a new company called TM legal services who have said if I don’t pay within 21 days they will commence litigation. They have also said they can offer a reduced settlement if I contact them.

So shall I contact them and try to reduce the amount owing?
Will they really take me to court if I don’t pay?


Letter is attached.

[Crawford]

I have reattached the letter with personal info removed.

*

[Dougal55]

Hi,
On 06/04/2919 I took out a payday loan via Lending stream for £200, I was not working at the time and really stupidity lied on the application form to say I was working. I also suffer from PTSD and depression which I also stupidly did not declare to Lending stream.

Since I took out the loan I have been unable to pay them back so I had a company called Assets collections and Investigations chasing me who have now transferred the debt to a new company called TM legal services who have said if I don’t pay within 21 days they will commence litigation. They have also said they can offer a reduced settlement if I contact them.

So shall I contact them and try to reduce the amount owing?
Will they really take me to court if I don’t pay?


Letter is attached.

Hi - My daughter has received a court claim from TM Legal from a Lending Stream payday loan taken in very similar circumstances to you. May I ask how you proceeded and whether you reached a positive outcome?

[Soutano1]

I got into a financial mess dealing with my mam going through cancer eventually losing the battle but anyway I got a few payday loans and I think a credit card too around the same time, after acquiring an online gambling problem, my escapism from the stress basically I lost everything. I’ve never paid a single penny for about 4 yrs, had all the letters, threats, etc but no ccj or many people come to my property. I’m waiting a couple more years then go statue barred. The letters and threats are just to intimidate you into paying. If you don’t own a home or have any assets and can’t pay them what can that do.

[Soutano1]

I don’t think it’s worth the court costs either for the amount you owe I wouldn’t worry about it

[Debt Camel]

If you don’t own a home or have any assets and can’t pay them what can that do.

Well they can take you to court for a CCJ... TM legal can and do start court action for a couple of hundred pouds. That would then be on your credit record for another 6 years.