Hardship Agreement with Bank

pinkfluffythings

I am on ESA, unable to work due to a long term illness. I get a small amount in benefits each month and most of my rent paid for me.
I have a loan with my bank, its standing at 13k at the mo, £325 per month. Last year when I became ill the bank brought payments down to 150 per month but then we re-looked at my outgoings and they have brought it down to £20 per month for 6 months, then to be reassessed.
All my creditors are taking a small amount each month thank god and apart from my loan I don't have very much debt, its my main problem.

Im really just after a wee bit of advice, will the bank keep reviewing my circumstances every 6 months and renewing a hardship agreement? In 10 years if my circumstances have not changed will they keep doing this?
I have spoke to debtni, they said the bank may make me bankrupt but would rather get something each month than bankrupt me and get nothing as I have nothing and cant afford more than £20 per month.
Thanks

VIGILANT22

Does this happen to be Llyods?

pinkfluffythings

VIGILANT22 wrote: »

Does this happen to be Llyods?

No its the Ulster Bank in NI xx

pinkfluffythings

If anyone could advise me I'd really appreciate it xox

CLAPTON

do you have any assets..a house?

pinkfluffythings

CLAPTON wrote: »

do you have any assets..a house?

Hi, No I have nothing, no assets whatsoever. I get ESA, LHA and pay £57 a month towards rent.

CLAPTON

It's extremely unlikely that they will take you to court as it will cost them money and they will gain nothing from you.
The court won't order any payment from state benefits as they are deemed to be just sufficient for basic living.

Just don't allow the bank to bully you into paying any more than you can afford... 20 per month is more than enough.

pinkfluffythings

CLAPTON wrote: »

It's extremely unlikely that they will take you to court as it will cost them money and they will gain nothing from you.
The court won't order any payment from state benefits as they are deemed to be just sufficient for basic living.

Just don't allow the bank to bully you into paying any more than you can afford... 20 per month is more than enough.

Thank you so much for you help. I have had so many sleepless nights over this and I'm glad its now at an affordable repayment. Just the dreaded Marshall Wards to sort next lol

jonesMUFCforever

I agree with all previous posts but am nosey enough to ask how the hell you ran up such an amount of debt?

pinkfluffythings

jonesMUFCforever wrote: »

I agree with all previous posts but am nosey enough to ask how the hell you ran up such an amount of debt?

It was an increase in my previous car loan, used it to pay off bills, legal fees from divorce.... I do have a car but its only worth about £800 so there is not much point in selling it as we live in the country and we need a car for Doctors appointments and all my ESA interviews

pinkfluffythings

Just a wee note to add, I took out this large loan when I was working full time, earning good money and it was not really an issue about paying it. I took ill last year and ended up having to leave my job (which I loved and miss so much) and thing have went !!!s up since that. Thanks everyone for all your advice xox