Heellllpp! Please

Dickens66

Read all of your posts, and they have helped me a lot.

But - I could do with some advice myself.

I have had a silly loan with LLoyds TSB since 2006. It was for 6k. I could have paid if off by now - but I have been sick, and had 4 different operations since I took the loan out. So, I had to have time off work - and since I had lots of time off work, my sick pay expired.

One thing lead to another - and in the end I had to leave my job.

I have been on benefits for a year and a half - and now they have stopped (ongoing saga with them). Getting a job again is not a problem - but it will take time.

Anyway - I have been paying my loan off - and for a while I paid only £30 a month - but that expired, and they told me that I am in arrears. I understand this - but sometimes they take £149 from my DD, and sometimes they take £100. I coped with this, until my benifits stopped.

I do not know what to do now.

They are so unhelpful - and do not know their a--e from their elbow!!! My current outstanding balance for the loan is £1,600 and I now need to pay the minimum payment - but without the silly interest.

I am also in the process of moving in with a friend, to assist me whilst I get my health back on track.

Any advice would be welcome please

Oh - up late, as cannot sleep again!

p.s - have a credit card with Virgin - would like to sort that too

dollybeads

Hi there, didn't want to just read and run. I am sorry for your troubles, first things first, it would be helpful to set up a basic account at another bank that you do not owe any money to. You can ask at any bank for this, but be specific that its just a basic account you are after. Also be cautious about which bank, as for example LLoyds and Halifax are now in effect the same company.

Reason for doing this is that you can then get any benefits (or any incomings) to go into that account and the bank can't then just help themselves to your money.

Secondly it would help for you to post an SOA on here (statement of affairs) from the link below, this is a list of all your incomings and outgoings so that the lovely DFWers on here can help you out. http://www.makesenseofcards.com/soacalc.html

You might also want to contact CAB re your ongoing problems with benefits and to ensure you are getting what you are entitled to. And the other suggestion would be to speak to CCCS who are an independent charity who can advise you on the best course of action regarding payments for the loan. I have not had experience of them, but the comments from other posters have indicated they have been invaluable. If you just type in CCCS into Google you should be able to find them on the web.

You have come to the right place, many others will be along shortly to help you out with lots of really practical and knowledgable advice.

Hope today is a better one for you. Keep posting and best wishes Dolly x

dancingfairy

I agree with Dolly - get a new basic bank account with a new bank to get your new benefits/salary paid into. Do not set up any direct debits with people you owe money to - standing orders etc only.
Once you are in control I would send them a token payment of 1 pound per month and the old overdraft and any other unsecured debts and say you are seeking help and advice but please take this in the meantime.
Hope you feel a little better today -oh co-op are meant to be quite good for basic bank account- no credit checks and they are independent I believe - although you are only allowed 3 strikes and you are out so bouncing direct debits or anything or barclays are meant to be good i believe.
df