Should You Pay for Lolly Loans?

Have you been receiving calls from collections and it's made you feel stressed out or guilty? Perhaps you're just aggravated and haven't had the means to pay back an overdue bill. It happens and there's no shame in that. Whether you've taken out a loan and fallen behind or you need a loan to help consolidate debt, Lolly Loans has you covered. When you need to handle debt but don't know what to do, sometimes it's best to take a step back and simply look at your options.

What Is Lolly Loans?

When you need a little extra cash, Lolly Loans is your short-term solution for all things loan-related. The Lolly.co.uk is a registered trading name of EGOUK Ltd, an Introducer Appointed Representative of T Dot UK Limited. It is an FCA-authorised brokerage that connects lenders with individuals to help expedite the loan process.

Lolly Loans is not a collections agency or collections service. The brokerage works to source loan offers from lenders online and helps individuals like you connect with them to get approved within minutes.

Be aware that Lolly Loans PVT Ltd is a clone. They use the following contact information to scam people:

• Phone Numbers

• 1 916 459436
• 01865 589159
• 07 459 187275
• 01 865 600436
• 01632 960580
• 01 618 186159
• 0203 286 0159

• Email - loanapprovalhelplines@gmail.com

What Happens if I Fall Behind on My Loan?

The policies for every lender vary and may even change based on loan type. If you find that you're unable to make a payment or you've fallen behind, contacting Lolly Loans to discuss your options can save you from having your loan sent to a debt collector.

Some lenders may charge a late payment fee that could range from £1 - £100. Depending on your history of missed/late payments, and the agreement for your loan, your lender may proceed to submit your unpaid loan to a collections agency.

What Is a Debt Collector?

Typically you'll only hear from a collection agency, otherwise known as a debt collector if you've missed multiple payments and failed to make a payment plan with a service. Debt collectors are third-party entities that handle the portion of the monetary collection for unpaid bills. They can be hired by businesses and sometimes they buy out uncollected bills and open invoices.

When this happens, the debt collector will use the last known address and phone number on an invoice to try collecting the money owed plus an additional service fee.

Often, debt collectors will try to collect money on unpaid bills by:

• Calling your phone number daily (if they've made a payment plan with you, then they shouldn't be calling each day and can be reprimanded for harassment)
• Reporting your debt to the credit bureaus
• Sending letters to your last known address
• Text or email notifications

What Should I Do if a Debt Collector Contacts Me for Lolly Loans?

You may not be able to answer the phone every single time an unknown number pops up, but avoiding debt collectors for an extended period of time can land you in serious trouble. If you're aware that the person contacting you is with a debt collection service, it can be in your best benefit to get the conversation out of the way.

Here are some important things to remember when having an initial conversation with a debt collector:

• Don't admit to the debt until you verify the collector is who they say they are (check their website, verify the phone number, etc)
• Request a letter of verification to be mailed to you
• Be careful about the personal information you provide them with

Debt collectors are allowed to discuss your bill and offers of payment plans with you, but they should not harass you. If they reach out to you via social media, discuss your debt with another individual, or try to publicly embarrass you in any way, they can lose their authorization to collect a debt and can be sued.

Get Debt Help With DoNotPay

Are you dealing with a debt collection service for an unpaid bill or do you believe that you're wrongfully being targeted for the money you don't owe? DoNotPay can help you get to the bottom of things by assisting you in verifying the company, and the accused debt, and checking to see if the agency has violated any laws. Remember, Lolly Loans will not contact you for late-payments and if somebody does contact you from LL then they may not be who they say they are.

When you're ready to handle debt accusations, here's how DoNotPay can help.

1. Search "debt collection" on DoNotPay.

2. Answer a few questions about the debt collectors, including when you were contacted and how you were contacted. Then we'll determine if they have violated any debt collection laws.

3. Then you can decide which course of action you want to take. Choose whether you want to file a debt verification request, demand that the collectors stop contacting you, or report them to a professional trade association.

Other Ways DoNotPay Can Help You Resolve Debt

Want more solutions to debt management? Have you been contacted by another debt collection firm and need assistance? Look no further, DoNotPay can help you with a variety of debt-related issues. Check below for some of the most common debt solutions we've assisted individuals with.

1. DWP Debt Management
2. Advantis Debt Collection
3. Moorcroft Debt Recovery
4. Marston Group Holdings
5. Lowell Financial
6. Amigo Loans
7. Provident Loans