Please Help Me !!! Loan - No job

aplboro

Dear All,

Can you please advice me what should I do?

Recently I am made redundant by my employer. But i have a debt in loan/CC of around 20000 GBP. The main problem is I am on work permit and I should to return to India asap. I dont know what to do. Even though i have got 3 jobs as Supply chain manager, Engineering Buyer etc., my employers are unwilling to process the new work permit. (thanks to the tough rules introduced in Nov last year)

I have been a honest individual. I never wanted to cheat. I came to UK in 2003 as MSc Engg. student. I got the first job in 2005 and I got second job in 2007 with a salary increase from 17000 GBP to 26000GBP. I have even cleared the full 10000GBP loan that i took in 2005. i paid all 36 instalments without any problem.

Recently, I spent some money going to Europe/marriage etc., and hence incurred this huge debt. As my job was going good, i thought i wouldnt be in problem until the fateful economy spoiled all my dreams...

I dont have any assets in UK or abroad and it will be next to impossible for me to repay the loan while working in India. (equiv. salary in India is 250GBP per month). i will not have any money left.

My wife has worked for some months and got some money. But it will be end of my marriage if i ask her to repay the loan even though all the loans are in my name.

Can some experts please guide me what is the safe & legal option I have?

Thank you all

duh

if no employer is willing to offer you a work permit not much you can do. pay as much as you can with your redundancy money - sorry don't know if banks will chase you back in india for this kind of money.
the new work permit rules have pretty much stuffed non-eu workers - you come last in the pecking order, don't get any benefits and when the recession hits you will be first to get the boot.

thriftymomma

I can't imagine they would chase you back to India to be honest.

iolanthe07

The way we treat hard working immigrants who come here legally really pi$$es me off.

marshallka

Can't you ask for advice at the Citizens Advice centre. They may be able to help and make suggestions.

karlyb

Hey, If you are under pressure to pay these bills have you considerd selling or pawning some of your stuff to cover bills.
I used a site last week mygoldsold.co.uk and got some extra money to pay off a payday loan I was having major trouble with.

These companies can and will chase you back to your country so I strongly advise you call them a start a payment plan.


Best of Luck


Karlz xx