Advice please regarding my Egg Loan

singingsister

Hi all,

Some advise please. I have an Egg Loan which has approximately £4000 left (I can't check the exact amount at the moment as I've managed to lock myself out my online account!) which I have had for a good few years and I believe it due to finsh end of 2011/2012. I currently pay £292 a month but have recently fallen pregnant and I'm worrying that whilst on maternity leave, I won't be able to afford to meet the full payment I make.

I have not missed or been late on any payments since I took out the loan back in approximately 2002.

I'm planning on ringing Egg nearer the time the baby is due (late December/early January) and being honest and upfront with them.

Does anyone know what they may suggest? I would ideally like a 6 month payment break (I know I'm going to have to go back to work ASAP after the baby is born) or alternatively, at worst just to pay the interest on the loan until I'm back working full time. £400 odd pounds maternity pay a month doesn't go very far and I've also got to contribute my share of the rent and bills or hubby will have to take on about 3 or 4 extra jobs to cope financially!

I know full well I'm in a lot of debt due to my own stupid fault as a student, but have managed my debts fine whilst in full-time employment.

I'm really starting to stress about it .

Does anyone have any advise for me? Telling me I should have waited until after I'd paid off my debts to fall pregnant is no good. Life doesn't work like that. I'm sure if we had have waited, something else would have come up as a reason why we should wait to have a baby!

:mad:

_Andy_

Could be wrong but I think Egg allow 3 payment breaks per year (as in 3 months payments).

CLAPTON

do you have a proper budget worked out?
have you considered the costs of child care etc once you return to work
a good budget format is
http://www.makesenseofcards.com/soacalc.html

if you post on the debt free wannabe board, people are very helpful and supportive and can often find ways of economising and cutting down.

singingsister

CLAPTON wrote: »

do you have a proper budget worked out?
have you considered the costs of child care etc once you return to work
a good budget format is
http://www.makesenseofcards.com/soacalc.html

if you post on the debt free wannabe board, people are very helpful and supportive and can often find ways of economising and cutting down.

Hi
Once I'm back at work, finances should be better. It's whilst I'm on maternity leave and therefore taking a pay reduction of about 75% that's the worry!

CLAPTON

We don't really know much about your over level financial sitution, i.e. of income, debt, spending etc but many people find that there are ways to economise... the first step is working out where all the money is going now and then setting up a budget etc. Maybe you have already done this.