loans and notice HELP

pjames1900

Hi all,

I am new here, but I wanted to get some advice before trying to sort out the situation I am in.... Basically my employer has gone into administration and we have been told two days ago that we might not get our salaries paid. This was a big shock, and I will deal with them on that issue, but for now it seems that no monnies will be coming in this month..... needless to say I am looking for a new job.

So I have to live up to the fact that some of my creditors won get paid, so what do I do??? I am afraid that if I call up my loan provider, they will want the whole lot? or can I do a statement of earnings... Just want to arm myself with the right information before attempting to sort this out, kinda ltd in my options.

I have got outstanding approx;
Mortgage approx 105000 of original mortgage balance 110000
Loans from
Iloansuk 8300 of original loan 9500
barclaycard 750 out of 900 original.
barclays 1500 out of 2000.

Yes it is a lot, and I am commiting to get rid of all these unsecured loans as they cost waaaayy to much, however a bit difficult without a job and income....

so what are my options? jsut tell them no money this month? perhaps next month depending on job?

DarnIt_3

Ring them and be honest, you might find they can reduce payments to token payments for a couple of months, if they do this, it may go on your CR, but I can think of worse things at the moment.

There is no point in them demanding full payment if you cannot afford the regular payments. Honesty is the best policy at the moment, remember though, if they do make you an offer of reduced payments, make sure you get it in writing.