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Discharged March 09 - Payments to Moonbeaver there after.

Hi, I was discharged from my BR after 6 months in March 09.

1) The payments I am supposed to make to MB - what if I miss them or cant afford to make them? I lost my job at the end of March 2011 and I'm currently unemployed.

2) If you cant make the full payment and send token payments everyweek, would that count in your favour?

3) Can they extend the 36 month period of payments due?

They havent been in touch for a while and although I have made regular payments, it has probably not been to the full amount they demanded.

Many thanks in advance for any replies.

Comments

  • iquit
    iquit Posts: 1,939 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I believe if circumstances change e.g drop in wages/ increase in expenses your payments are changed accordingly, also if no income then IPA payments are suspended until you have an income. You must contact and inform them (moonbeever) ASAP. The 36 months will not be extended.
    2019 MFW No. 74 £13700/£30000 (45.66%)
    12k in 2018 No. 98 £6274.19/£18000 (34.85%)

    BTL (start) £97440.00 (current) £68000.00
    Residential (start) £275000.00 (current) £268000.00
  • Ineedaname
    Ineedaname Posts: 3,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    You have a responsibility to inform the OR (and then I guess Moonbeever post discharge) within 21 days of any changes to your situation.

    Tell them immediately that you have lost your job and ask for a review.
    When I joined, I needed a name. The forum members gave one to me...I am INAN :D
    "Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt
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