${your_name_and_address}

${lender_name_and_address}

${current_date}

Dear Sirs

Re: My Complaint – Pay Day Loan

Account No: ${account_number}

I wish to advise that on ${agreement_start_date} I entered into a loan agreement with your Company in the sum of £${loan_sum}.

I was told to re-pay that loan by way of monthly re-payments. At the time I took out this loan, I was not made aware of the consequences of failure to meet the monthly re-payments or the precise interest that would be applied to my account in such circumstances.

I am on a low income and you did not make any proper enquiries on investigation as to my ability to afford this loan or make the re-payments to you. My income at the time of taking this loan out was ${income_amount}.

I am currently suffering financial hardship and the offer of monthly re-payment I can now afford is £${affordable_amount}.

I am currently in receipt of £${income_amount} and my outgoings before any loan re-payment to your company are £${outgoings_amount}.

My outgoings cover my daily needs of housing and household expenses of utilities and subsistence.

I therefore request that you confirm to me in writing that you will accept a reduction in my monthly re-payments on the agreement.

I confirm upon your agreement to my monthly offer of £${affordable_amount}, I will start my re-payments to you on ${repayment_start_date}.

I would also like a response as to why no proper investigations into my finances was undertaken, which has now left me in a very vulnerable and precarious position.

I look forward to hearing from you.

Yours faithfully

${your_name}