HFC/Beneficial

icelandic_queen

Hi, I'm really in need of your help please!
I have had a loan with HFC for the last 7 years. It was originally for 7k but I have neded up nearly paying 18k! There is 1359 quid left to pay on it which I think is pretty good! It was due to end in March of this year but I am now a carer for my Dad and I can't afford the 225 quid every month. I contacted them and did a SOA for them and forwarded them as much info as I possibly could. They phoned me this morning at 8.49am to advise that the 30 quid I suggested paying back each month is not good enough and they want 95 as they say that is what I have for disposable income! Explained that this week alone I've paid out money to get my roof fixed and Christmas is just round the corner. They offered to settle the loan for 1000 early and suggested that I ask family and friends to help me out!! I'm really upset and whilst in theory I may have 95 a month disposable income in reality it never works out like that! What can I do?

Apples2

To come all this way only to decide in the last few Months to start trashing your credit file is madness.

Have a budget Christmas and make the payments, beg & borrow from family and maintain those last five payments.

If you make reduced payments now, you will be paying this loan off for another year or more with the added bonus of trashing any hope of credit for the next 6 years.

IF you decide the settlement is worth looking at, make sure you get it in writing first.


EDIT: Just read it properly, are you are already in default? If so, take the £1k settlement if at all possible.

icelandic_queen

Yes I am in default now unfortunately! 95 quid may not seem a lot to some people but it is to me as I have no safety net. I'm not trying to trash my credit file on purpose. I have no credit cards or other loans and believe me I never set out to end living on benefits.