Newby In Trouble, Seeks Advice

gaz0311

Hi there,

I'll try and sum up my situation in as few words as possible (I don't even know if I've selected the correct forum):
- Following an attempt to reclaim my penalty charges from Lloyds TSB I stopped using my current account with them, therefore my loan payments to them lapsed;
- They continued to add charges to my account which put that £500 into the red;
- I'm a sailor in the merchant navy and went to sea last september;
- When I returned at Christmas I had a letter from an outfit called 1st Credit;
- I rang a representative of theirs to clarify my situation;
- He said they needed immediate payment of £11,200;
- I said this was simply not possible (He suggested I try and beg/steal/borrow the money, he even threatened the repossession of my parents house)
- I offered to pay a predetermined amount per month, but he said that his company were paid a regular fee by Lloyds TSB to chase up accounts like mine and this wasn't possible.

I was wondering if anyone had any suggestions as to what I could do? I'd love some advice as well as some of the things he said (i.e. repossession, no repayment etc....) seemed a bit unreasonable to me.

Many thanks in advance,

Garr

~Beanie~

I can't help with what you should do but the part about repossessing your parents house is complete and utter rubbish (assuming that the loan wasn't secured on it!!). They are just trying to bully you into paying.