Can't pay Nationwide Loan this month

MrsKnight2Be

Morning,

I need abit of advice, my husband and I are both self employed and over the last few months our income has damn near dried up. My husband is doing some work for a friend to bring some money in but it is not quote enough to cover everything.

I tried ringing Nationwide to ask for a month or 2 off from our Loan but they have said there is absolutely nothing what-so-ever they can do to help.

Does anyone have any advice? Or no where I stand?

Thanks

_Andy_

If they won't play ball then I'd guess you have two options in the short term - 1) utilise other credit if you have it (credit card, overdraft) to make the loan payment, 2) Miss it (meaning a missed payment will be recorded on your credit file).

CLAPTON

Really need to see your total financial affairs.. e.g. is this the only debt ? do you have a mortgage etc?

so
work out a proper SOA (details of income, spending, full debt details).. a good format is
http://www.makesenseofcards.com/soacalc.html

is your income likely to recover quickly or is it likely to be long term problem... you need to be brutally realistic about your employment and consider getting a fulltime / part time jobs

if your income is likely to recover quickly then maybe extra credit may help but if its not going to recover then getting more debt will just dig a bigger whole.
BUt really need to see the SOA before one can really advise.

fatbelly

Clapton is right - you are not even telling us whether it is secured or unsecured.

The dfw board may be the right place to post your SoA. There's a calculator here