2 Bank Loans with the same Bank

pacific_north

A good friend who has recently been diagnosed with terminal cancer is worried about bills etc. She has two bank loans with the same bank and is thus making two monthly re-payments.

Originally she asked for a loan of £9000* but the bank said they could only give her £5000* and then £4000* would be considered at a later date. When she went back to the bank sometime later they agreed to give her the further £4000.

Should the loan not have been consolidated into one payment? Is there anything she can do to reduce her payments as she is now unable to return to work? I am not sure if she took out any insurance with the loans.

*approx figures only

Thanks

housebuyer_abc

pacific_north wrote: »

A good friend who has recently been diagnosed with terminal cancer is worried about bills etc. She has two bank loans with the same bank and is thus making two monthly re-payments.

Originally she asked for a loan of £9000* but the bank said they could only give her £5000* and then £4000* would be considered at a later date. When she went back to the bank sometime later they agreed to give her the further £4000.

Should the loan not have been consolidated into one payment? Is there anything she can do to reduce her payments as she is now unable to return to work? I am not sure if she took out any insurance with the loans.

*approx figures only

Thanks

So long as the loans have the same apr why consolidate? It would be the same payment anyway.

As for reduced payments, without insurance it just doesn't work like that.

It's not the banks concern that you don't work, only that you agreed to pay back the money.

That being said given the unfortunate circumstances that have led to your friend not being able to work they may come to some arrangement to be seen as compassionate and caring.

Equally once told they may push for repayment