Some basic advice from an ex CAB counseller

Bubbles67

Nice going Ice. Much appreciated. Am working on debt using just such advise.

1manandhisdog

Hi anyone maybe Ice is still outthere and can advise me, also hope I'm on the correct thread...it sounds pretty close to my situation.

I foolishly followed my heart and went and did an degree (8 years ago) during that period I took out graduate loan with one of the highstreet banks towards the end of my studies to help me out. Over the years as I've gone from 1 low income job to another i've continued refinancing my bank loan as I've never earned enough to pay it off,paid PPI picked up a credit card on the way but everything was fine until I lost my job due to redundancy.

I've now been out of work (except for a brief period temping which unfortunately did not lead to full time work) for over 12 months, on JSA benefits and as policy document states I've had the maximum PPI payments for unemployment cover...my bank has already closed my claim I found out through their letter sent last week.

Can I write to the underwriters to try and extend the period of my payments. Will this actually work? Does anyone have any suggestions as I do not have the money to keep up loan repayments?
This makes a mockery of me paying payment protection for years. Obviously, I am still trying to look for a job in a market that now includes ex-bankers.
I would happily return to education and retrain if I could get the banks of my bank but I'd rather have a full time job.

I do accept that I share the responsibility.

bethan27

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Jenie0109

Thanks for sharing guys..

k1mmie

Trying to find out if you can get help with utility bills while claiming JSA. Essex & Suffolk water sent me a form, that said I did not qualify as nobody was Sick/I did not have more 3 or more dependants at home. I have 2 children and a 19 year old!

Anglian Water said contact CAB!

Have heard that Npower have a service but could not find details. ANy help please?

philandrhonda

HI Ice wondered if you knew where i could go regarding the problem below, thanks rhonda !!Myself and my fiance went to look at cars at a car shop 4 weeks ago with the intention of buying a car on finance, we had budgeted max £110 per month as payment, at the shop we found a car we liked and went inside to discuss it with the sales man, i have bad credit which i told him about and we said we wanted the car in my boyfrineds name and on finance, he took all our information into the "back office" and said they were checking finance companys to see what they could offer but he reckoned it would be about £106 per month for 60 months, anyway 20 minutes later he told us the computer systems were playing up and we should leave a £100 deposit for the car we wnated and he would rig us later to let us know if finance was approved, we told him we were not willing to pay more than £110 per month and he said that was not a problem, if the price plan he had told us didnt go through our deposit would be returned, stupidly the piece of paper we signed as receipt for the deposit didnt say this which in hind sight we should of got him to write this on. anyway we wnet home and he said he would ring us later that day to let us know what was happening. we received a phone call about 2 hours later and the salesman said that the deal he had offered us had been rejected by there regular finance companies but an alternative finance compay would be able to sort something out and he told us the only problem was that the monthly payment would be alot higher. we told him that we didnt want that and we wnated our money back he then told us that was fine and it would take a few days. a few days later no money had gone back into my fiances account, over the next couple of weeks we kept contacting the car company and the original sales assisant was always unaivable and somebody else would sort it out and ring us back, nobody has rang us back. my fiance was getting really annoyed at this poin (3 weeks later) and demanded to speak to a manager and yet again no one was available but someboy would ring us back. somebody rang back 3 days later and asked us when we were picking the car up, my fiance asked was this some kind of joke as we had been trying to get our deposit back and nobdoy had helped us, the guy ont he phone said the car has been ready and waiting for 3 weeks and if you dont get the car and pay for it we are taking you to court, my fiance told him the deposit was left on the the understanding the finance the salesman has told us we could get was approved which it wasnt so we were entitled to our money back. the guy on the phone said we would not be getting our deposit back and we owe them £500 as the car has been valeted for us. we had not agreed any of this, we havent signed a credit agreement as there finance company didnt approve the amount we were told we could pay, so can we get out £100 deposit back and how do we go about this, my fiances dad had been into the shop twice and they just fob him off and tell him to get my fiance to come in as they have a contract waiting to be signed. please help! we are having a new baby in august and £100 is alot of money to us!!:mad:

snapdogs

We borrowed money from the halifax £11000 over five years, our repayments are £274.00 ish a month, my husband has lost his job, we are living on our savings and I have been to see the bank twice, but they will not reduce the payments, just keep trying to get us to cons the other loan we have too... so we would owe them more money, at the moment we are paying out £385 in loans, on top of a mortgage of £330 a month.... I am sick with worry! We are in a complicated situation, as we are building a house, started last year when my husband who is a bricklayer had work, but the house is not finished, is still not livable and we are spending over £1200 a month on bills etc with very little money left.. to finish the house, and pay all our bills... we are living in a caravan in the garden too! which is what bumps our loan payments up to £385.00 a month. My husband applied on-line for JSA in the midlle of february 09... but we have not heard anything from them at all! and at that time we had over £17000 in our account, we now have about half of that left and I am so worried about how we are going to pay for everything.... I can see us being repossed.... WHY won't the Halifax reduce the payments? what else could we do?

Cashpig74

Hi. I lost my job too - but the difference was i was not worried cos I knew that somewhere somehow there are rules to protect people like you and me.

Basically, go through all your outgoings for one month and axe the ones that you don't need such as gym membership etc... stuff like that. It's seen as "helping yourself" out first.

Contact Paylplan. There are a free debt advice line. They will have a Self Help Pack and included in it is an income and expendtiture sheet. Fill it in as best you can and it will show exactly how much money you have each month.

If you cannot afford the monthly credit card and loan repayments, dont ASK the halifax for a reduction - TELL THEM that you are unable to afford the full amount and will be paying XXX amount (one that you can afford) until you circumstances improve. Send them a copy of the Income sheet and wait for their response - (record delivery too).

If you are in a deficit balance each month - then the legal minimum repayment is £1.00 per month to all (non-priority) creditors. They will not accept it as an official payment plan as such, but it shows that you are doing what you can within the law at the time.

They will phone you and hassle you, but put in letters on complaint about it as this slows them down and gives you more time. They will - but shouldn't - demand more money from you when they call.

You are not legally obliged to speak to them. You can refuse the security questions and hang up. It's within your rights. Correspond in writing only making a papertrail.

The JSA will not be granted if your husband has savings in hi nsamed bank account. Im sure you'll be able to figure out the best course of action here. Best to seek morem advice but I took the stance that I come first as does my priority debts such as mortgage etc.. and my wellbeing.

Good luck.

Cashpig74

oh also, if your bank accounts are with the same lender that you have debt troubles with - move the accounts to another bank that is neutral. This will stop them snooping on your spending habits and questioning your motives. They may at some point be able to take money from your bank account and pay off loans etc.. forceably. But not if it's in a different bank.

I was once told to use MORE overdraft facility in my Halifax bank account in order to pay off the Halifax loan account arrears!. Unreal..!

I made a MAJOR complaint about it - and they apologised in writing - but its all because these "callers" get commissions for getting more money out of you on a call. It all stems from them having access to your banking accounts which is why you should switch to a neutral as soon as possible.

jasmin1971

Hi
Do you know if you can claim back early repayment charges for repaying your loan?