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loan and no job

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

Comments

  • 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.
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