Paying back Rockwell/ Tessear Loan

gally56

HI I have a loan with Rockwell that Tessera financial services receive direct debit payments from me for.
Today I rang up to get a balance and was told that under my 6 month i Pay £110 per month and then in May when the agreement ends I have to pay the final balance of 3145.55, I told the lady on the phone that there is no way under my present status that I can pay that in full and would have to continue paying the £110 which she said would be carried on for another 6 months. mY question is can i just keep asking for another 6 months of paying £110 untill because at present that is all I can afford and it is unlikely to change.

brokeinlondon

Well, they can't take what you haven't got. If in 6 months they're not willing to keep taking £110 a month, I would cancel the direct debit and continue paying them that amount via standing order. They will probably default you though

Is there any way you could save up the money before the 6 months comes to an end?

gally56

unfortunately not It's a struggle to pay the 110 but a little each month gets me closer to finishing the debt I made an increase from 70 to 110 in november so I have increased the payments by over 50% already I just felt that they were bullying me into paying it back by the end of the 6 months. Person on the other end was like "At the end of the 6 months we would have expected you to come up with the remainder"

brokeinlondon

You're exactly right, they're just bullying you. Ignore them and keep paying them what you can for as long as you can. If you can up it a little more so you don't have to deal with the bullying a-holes for much longer, even better!

gally56

Can they change the amount they can take out of the direct debit without warning or does it have to be the exact amount nor more or less if balance is lower than £110