Loan Repayments

rocketgirl_4

I have just been made redundant. I have a bank loan that has monthly repayments. I have not found a new job yet and dont have payment protection on the loan. By law am I entitled to ask for a holiday on the loan repayments. My loan is with RBS. Can you please advise me of what I can do!! Thanks

di3004

rocketgirl wrote: »

I have just been made redundant. I have a bank loan that has monthly repayments. I have not found a new job yet and dont have payment protection on the loan. By law am I entitled to ask for a holiday on the loan repayments. My loan is with RBS. Can you please advise me of what I can do!! Thanks

Hello there hun
And am very sorry to hear of your job, I'm sure something will come up for you real soon and good luck.

Have you still the terms and conditions of the loan policy hun, if this mentions holiday repayments I would request on this to see you through, but how many you would be allowed to take I do not know, for example, one month, two months etc, so hun, contact RBS at first instance, inform them of this unfortunate matter and see what they say and if you have not got the terms and conditions of this product you will need to request this for as soon as possible.

When did you take out this loan ?
Maybe if someone had taken out the same type of loan, in the same year they could provide you with these, so maybe its worth asking on here.

As you have posted up about this already - hopefully someone will come along to advise you here, and if it comes to it, and having problems with getting the repayment holiday, request if they can help by reducing the repayments until you return to work, I do think this may just be the only other option, or call into your local CAB who will do the work for you by contacting RBS to make arrangements for you for repayments.

With a bit of luck maybe you would be eligible for repayment holidays for more than a month, so fingers crossed lets hope this is the case, by then another job may arise.

At least your dealing with it now, so as mentioned above, contact them as soon as you can.

I wish you the very best of luck!;)
Also good luck on the job front too hunni.

Di.
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