Loan Repayments whilst on maternity leave

TighterThanTwoCoatsOfPain

Obviously you're on the defensive, but +1 for Tiddlywinks i'm afraid! Myself and wife planned finances a couple of years ahead before thinking about making the commitment..

fairy_Dust_5

Without having to reveal to much about myself this was not planned because we were assured that the situation we find ourselves in now was a medical impossibility. As I have stated, nature had other plans which didn't give us a lot of time to plan anything.

Lily73

God! Just read the posts on here and I can't believe some people!

Just want to say congratulations fairy dust on your pregnancy, from your last post it sounds as if this baby is your little miracle that you didn't think you would ever have.

welf_man

Congratulations, Fairydust - you must be over the moon, even with the financial uncertainties!

If it wasn't for the fact it sounds like the babies would end up in the bin, I'd be tempted to hope that the Tiddlywinks and TighterThanTwoCoatsOfPaint families have a similar accident and see how they cope!

Hope all goes well for you.

Mel.

SingleSue

fairy_Dust wrote: »

Without having to reveal to much about myself this was not planned because we were assured that the situation we find ourselves in now was a medical impossibility. As I have stated, nature had other plans which didn't give us a lot of time to plan anything.

Ahh sounds similar to me....we were told that it was a million to one chance for us having a child.

Can't tell you what a shock it was to find out I was pregnant with my first, I didn't believe it, the doctor didn't believe and my hubby refused to believe it and thought I was playing a cruel joke on him.

We had 3 in the end although this involved numerous operations and drug treatments for the second one and third one.

Good luck and hope everything works out for you all.

Debt_Free_Chick

fairy_Dust wrote: »

Without having to reveal to much about myself this was not planned because we were assured that the situation we find ourselves in now was a medical impossibility. As I have stated, nature had other plans which didn't give us a lot of time to plan anything.

The difficulty is that your loan was a contractual arrangement without any option to vary its terms if your personal circumstances changed. Privately, we might all agree that your situation merits some flexibility in your contractual obligations. But there is no point in us arguing that, whilst we all know that the lenders don't offer such flexible options.

The bottom line is that, when we take out a loan, it's a personal lifestyle choice and we ought to make that choice with an eye on the future ... what if .... I couldn't earn enough money to repay the loan ... for whatever reason ....? We all ought to consider that. Maybe you did ... maybe you didn't. If you didn't, then fair enough - but you are where you are and the answers you've had here honestly address your situation.

Unfortunately, you can't have it both ways. You can't meet the terms of the loan - which will result in a default. You want to avoid the default, but that means meeting the terms of the loan .. which you can't.

This is "just life" - when you are faced with certain consequences and you can't change the circumstances that landed you where you are.

Just live with the default, but work with CCCS or one of the other debt charities to manage to repay the loan on terms you can afford. You can't lower the repayments whilst at the same time expecting no adverse consequences. All you can do is to live with it as best you can - but it's not the end of the world.

welf_man

To get back to an earlier question about how much babies cost - it depends how much you spend on them!

You don't need a new cot or buggy, but you do need a new mattress; you don't need a "travel system", just a lie-back pushchair and a basic baby seat; you don't usually need powdered milk or bottles, just some good nursing bras; you don't need disposable nappies, just organisation; you don't need all new baby clothes, just a keen eye for an eBay bargain!

I raised my first baby on benefits and my second on a good wage, but I'd learned a few tricks and hardly bought anything new for the second, which meant I could afford an extra few precious weeks on maternity leave.

Just keep the big picture in mind and remember babies don't need stuff, just people who love them.

Mel.