Endeavour Personal Finance - Unreasonable?

zelig

Hi All

I just wanted to know where I stand on the following:

Just changed bank account which wont be up and running with cards etc until 3rd Feb - I have successfully managed to contact all 12 of my direct debits to inform them that usually I pay every 1st of the month - all happy to accept a 3 day late payment even HSBC my Mortgage Company....apart from Endeavour !!
I have a secured loan with them for around £30,000 and have been paying a little extra per month to cover a missed payment last year which they readily agreed with - so I am at present £91.00 arrears. They have now told me that if the agreed monthly payment doesnt arrive on 1st they will issue me with a default (£50 extra) and start littigation proceddings? a bit harsh I think considering I am only the £91 in arrears?? - This they say is the reason -

Does anyone think they are being unreasonable and if so what my next move might be?

Many thanks in advance and continue to keep up the great work on this forum :T

Zelig

jonesMUFCforever

Why not pay them from the old account?
It is not the lender's fault that you decided to change banks.

[Deleted User]

assuming you have the money pay them by card over phone now

Apples2

Why does changing banks have ANY effect on being able to pay your outgoings??

Has your employer stopped paying you whilst you change banks or something?

opinions4u

zelig wrote: »

I have a secured loan with them for around £30,000 and have been paying a little extra per month to cover a missed payment last year which they readily agreed with - so I am at present £91.00 arrears.

This is a secured loan. Your property is at risk. While they may have accepted you inability to pay, I doubt very much that they were as delighted as the highlighted phase suggests.

They have now told me that if the agreed monthly payment doesnt arrive on 1st they will issue me with a default (£50 extra) and start littigation proceddings? a bit harsh I think considering I am only the £91 in arrears??

But then you will be £91 plus an additional payment in arrears. They were nice in the past, and now you want to take advantage of them again when you still haven't repaid the previous missed payment. Your request for flexibility could be interpreted as taking the michael.

Does anyone think they are being unreasonable and if so what my next move might be?

Pay the bill. You owe it. And then work at clearing the arrears.

This is your damned house that you are playing silly games with. Stop treating it like paying the paper bill late.

zelig

jonesMUFCforever wrote: »

Why not pay them from the old account?
It is not the lender's fault that you decided to change banks.

Hmm I would if I could but had to close the old account and now am in a DMP - Dont have a penny until my wages are paid in at the end of the month??

zelig

Apples2 wrote: »

Why does changing banks have ANY effect on being able to pay your outgoings??

Has your employer stopped paying you whilst you change banks or something?

Nope as I said my pay will be paid into my new bank so have to alter all DD`s

zelig

opinions4u wrote: »

This is a secured loan. Your property is at risk. While they may have accepted you inability to pay, I doubt very much that they were as delighted as the highlighted phase suggests.

But then you will be £91 plus an additional payment in arrears. They were nice in the past, and now you want to take advantage of them again when you still haven't repaid the previous missed payment. Your request for flexibility could be interpreted as taking the michael.

Pay the bill. You owe it. And then work at clearing the arrears.

This is your damned house that you are playing silly games with. Stop treating it like paying the paper bill late.

91.00 and one payment short for all of 2 days? ....well I really will bring the company down to its knees ?
Not everone is as well off as you seem to be opinions4u - I have been through a fair ammount of hardship these last few years ...losing a well paid job etc ..and have continued as best I can with all secure payments ..just thought 2 days late would have caused such a fuss? .....I am concerned about losing my house thats why I came here for some helpful advice and not to be judged by your self righteous attitude......

Thanks anyway all

zelig

jonesMUFCforever wrote: »

Why not pay them from the old account?
It is not the lender's fault that you decided to change banks.

I had to close my old account down and arrange for my new pay to be paid into this new account - If I colould have paid them I would have but I very little as it is to last me the next few weeks

paddyrg

Changing banks should not affect your cashflow, even if your payments are 2 days late one week. However, it sounds like this lender is nervous based on your history. But seeing as you must have the somewhere in order for the dd to work, why not advance pay the payment so they have the cash on hand?

opinions4u

zelig wrote: »

91.00 and one payment short for all of 2 days? ....well I really will bring the company down to its knees ?

It's not a case of bringing the company to its knees though. It's a case of prioritising your commitments to keep a roof over your head.

Not everone is as well off as you seem to be opinions4u - I have been through a fair ammount of hardship these last few years ...losing a well paid job etc

I've been through times when money was tight. It isn't a walk in the park. I'm actually in temporary work at this point in time, so I'm fairly familiar with job security related issues.

..and have continued as best I can with all secure payments ..just thought 2 days late would have caused such a fuss?

As you stated above though, it isn't just 2 days is it? There is part or all of an additional monthly payment as well as a further late payment that you are planning.

.....I am concerned about losing my house thats why I came here for some helpful advice and not to be judged by your self righteous attitude......

And my helpful advice is to prioritise any loan secured on your property and pay it in full and on time. And clear any arrears as soon as possible.