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falling apart..but hello everyone
ready_to_fall_apart
Posts: 5 Forumite
Hi there all
I wanna know how successful people have been at reducing the interst and payments on personal loans when they have approached their providers directly? Has anyone got any tips on how to do this properly. I would also like to know if there has been any suces with sorting out repayment of overdrafts with banks in a structured way, ther than getting another peronal loan...I dont wan them to freeze our account and I think if I start moving everything out of there they wil panic and call in the O/D which amounts to 6500.
Help - have spoken to cccs but husband is panicking that this is like bankrupcy...I am torn but cant go ahead without him. Have worked out a budget paid off Credit cards but still have outstanding peronal loans- partner and I have one each (32,500).
I dont want to just pay interest on these loans as they will never be paid off just a bit more slack...any advice or heklp gratefully accepted.
Ready to Fall Apart x
I wanna know how successful people have been at reducing the interst and payments on personal loans when they have approached their providers directly? Has anyone got any tips on how to do this properly. I would also like to know if there has been any suces with sorting out repayment of overdrafts with banks in a structured way, ther than getting another peronal loan...I dont wan them to freeze our account and I think if I start moving everything out of there they wil panic and call in the O/D which amounts to 6500.
Help - have spoken to cccs but husband is panicking that this is like bankrupcy...I am torn but cant go ahead without him. Have worked out a budget paid off Credit cards but still have outstanding peronal loans- partner and I have one each (32,500).
I dont want to just pay interest on these loans as they will never be paid off just a bit more slack...any advice or heklp gratefully accepted.
Ready to Fall Apart x
0
Comments
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It never hurts to ask for a reduced rate. It all depends on how bad your situation is. Some creditors will freeze interest in the short term, some accept reduced payments. First you need to do a SOA so you know where you are.Barclaycard 3800
Nothing to do but hibernate till spring
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Thanks for the reply what is and SOA?
RTFA x0 -
Can only echo whats said above.
Rest assured though, that with the support given on here, you will get through this! Have you posted up an SOA yet???
All the best!0 -
Look under the stickeys at the top for new posters.Barclaycard 3800
Nothing to do but hibernate till spring
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Have a look at this thread for the SOA details! Its a must that you post this to enable us to help you as best as possible!
http://forums.moneysavingexpert.com/showthread.html?t=1072800 -
Cant do the listing at the moment cos I am at work and should be doing something ...will start tonight
Cheers to all
RTFA:T0 -
Creditors are unlikely to agree to what you want til account is in arrears & are also less likely to freeze interest unless you go through CAB, Payplan ect.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 20 months left.0
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