Cant pay payday loan letter template
You may end up in a situation where you have borrowed too much money with many payday loan lenders and you are now financially unstable to pay the required balance.
First payday loan letter template 1.
[box]
Dear [insert lenders name],
My reference number is [loan reference],
Full name: [your full name],
DOB: [your date of birth]
In respect of my outstanding balance of £[insert balance owed], I have reached in a situation where i am financially unstable to pay this. Please contact me with regards to a small payment plan we could agree to in order to settle this loan.
Please can you stop the interest and fees for this loan.
Sorry for the troubles caused.
[signature here]
Thankyou.
[your full name]
[/box]
Cancelling Lenders Continuous Payment Authority
Although you have ask the lender to stop any payments, you may have to tell them to break the continuous payment authority they have with your payment debit card you gave them previously.
Letter / Email template to stop continuous payment authority.
Click here to Download a can’t pay payday loan letter template
and via email:
[box]
Dear [insert lenders name],
My reference number is [loan reference],
Full name: [your full name],
DOB: [your date of birth]
My payday loan with [lender name] is being paid using a continuous payment authority.
I’m withdrawing my authorisation for any more payments to be taken from my account for this debt.
The last 4 digits of the card these payments are being taken from are <1234>.
In line with the payment services regulations which are run by the Financial Services Authority, any more payments taken from the card will be an unauthorised transaction.
Please send me confirmation you have done this.
[signature here]
Thankyou.
[your full name]
[/box]