loan and no job

k123_2

i have a £1500 loan that i took out with halifax 3 months ago,my first payment is due this month but my employment status has changed.I am no longer working but i am looking for employment. does anyone know if halifax will do anything for me? or is it just tough and i will get charged for not being able to make the payments and a bad credit rating?

Please help!

thanks

jonesMUFCforever

Did you take out insurance to cover unemployment?

What did you use the £1500 for - could the item be sold and you pay back the loan?

If you do not at least contact them to discuss the possibilities - yes your credit history will be toast as soon a you go 3 months into arrears.
Generally at this point is when most banks will start action against you.