Whats the worst than can happen???

More2LifeThanMoneyWorries

Hi

long time lurker decided to post at last!


My situation, unfurnished tenant with no savings or assets and the following:

must stress that all but the credit card were taken out before i had to leave my job to become full-time carer!

Loan, overdraft & credit card with my bank (totals £7000)
littlewoods account (appox £1100)
Sofa on credit
HP agreement on car (26 months through a 60 month agreement)


i have always been worrier when it comes to money, to the point now were it really really gets to me!

like i said we have nothing just the DWP money coming in.

so as the title says if i can't pay these anymore...........

from what i've read on various boards especially DFW board. They can make phone calls, send threatening letters, send people round but short of coming in your house (which by the way they would never be doing) what can they do??

they can't take what you haven't got can they!

Kavanne

did you take PPI on any of these? I believe some PPIs have cover if you have to leave work to become a full time carer.

di3004

Hi there

Like what KAVANNE says if you have been mis sold insurance on any of your credit it may be well worth your while in getting this checked out, this money could be yours.

There is a Reclaim Discussion forum for this subject, just click on loans, then you will find on top of that page PPI Reclaiming - Discussion thread III.

Please feel free to come along and check this out, as usual this is free and it will only cost you a price of a stamp.;)

Di

~Brock~

I don't think Kavanne was talking about reclaiming PPI or even suggesting it was missold (assuming the OP has it) moreover maybe investigating the possibility that a claim on the policy might be possible.

They're not all missold, sometimes they can be useful. Even Martin admits that !

di3004

~Brock~ wrote: »

I don't think Kavanne was talking about reclaiming PPI or even suggesting it was missold (assuming the OP has it) moreover maybe investigating the possibility that a claim on the policy might be possible.

They're not all missold, sometimes they can be useful. Even Martin admits that !

And I agree.
Worth checking out though.
Yes even some of mine are useful, but not all were, and its always best to check them out to make sure they are, I have my regrets with not knowing about this until the media had brought this to our attention, including Martin.
I am now a carer myself for my autistic son, where now some of these would be suitable for me, but when I was sold these PPI's I was not a carer then and was an homemaker, as there are some carer protection benefits for some of these covers in place.

So yes a claim maybe possible for "Moretolifethanmoneyworries", I agree its well worth checking on that as well. x

More2LifeThanMoneyWorries

thanks for your comments

only took out ppi with the loan, cancelled now though as bank and FOS didn't find in my favour, pre-existing and all that boll**ks!!!


anyway like i said i can't pay these anymore so what really can the do??

court??
repossession of car??

if i get taken to court does a judge look at what you can reasonably afford to pay????

jamesd

Contact one of the debt help places. You can't pay and they will assist with setting up a payment arrangement and most likely stopping the interest.

Yes, if it went to court you would be asked to provide details of the minimum spending you need to live on and your income and most likely be told to pay it off with a Pound or two a month split between the lenders. The debt help places will do something similar but with less adverse consequences for your credit record if they are able to find a solution.

Best to seek help now because after Christmas is apparently a busy time for the help places.

RAS

Hi

You need to speak to one of the debt charities listed here http://www.moneysavingexpert.com/loans/debt-help-plan#help

With respect to the car, you need the HP agreement in front of you when you call. Some HP agreements allow you to return the car with no penalty after one third of the payments, but some turn out to really be loan finance. So you need to knwo what it is.

And I would strongly advise you to start by getting yourself a new basic ban account and getting your DWP paid into there. Otherwise the bank will use your payments to cover your debts. Then have a look at www.entitledto.com and make sure you are getting everything you should be.

~Brock~

RAS wrote: »

Some HP agreements allow you to return the car with no penalty after one third of the payments,

Just a slight correction to that - its after one half of the payments. The third is only significant because after this the lender needs a court order to repossess the car.