Mobile Money

stokelady

Hi

I got depserate and had a small loan secured against my vehicle - origional loan around £250 - now owe around £450ish

Anyway...... I have missed 2 payments through being off work sick, have just received my pay and barely have enough for my priority debts........

They have been ringing every 2 minutes - im ignoring them at the moment...but wondered if anyone had any experience with simialr companies...or had any clue what may happen next?

I can possibly make a token payment and then hopefully pay a chunk off the balance when I get my next pay in 4 weeks time.....The car is pretty much worthless but I have had a letter from them saying that now I have missed 2 payments my vehicle can be seized....I need my vehicle for work but my rent has to come first...

Ek,,,,,,,,,anyone have any advise or experience?

immoral_angeluk

stokelady wrote: »

Hi

I got depserate and had a small loan secured against my vehicle - origional loan around £250 - now owe around £450ish

Anyway...... I have missed 2 payments through being off work sick, have just received my pay and barely have enough for my priority debts........

They have been ringing every 2 minutes - im ignoring them at the moment...but wondered if anyone had any experience with simialr companies...or had any clue what may happen next?

I can possibly make a token payment and then hopefully pay a chunk off the balance when I get my next pay in 4 weeks time.....The car is pretty much worthless but I have had a letter from them saying that now I have missed 2 payments my vehicle can be seized....I need my vehicle for work but my rent has to come first...

Ek,,,,,,,,,anyone have any advise or experience?

Mobile money are viscious. If you need the car there's little you can do other than pay, unless you can prove the bill of sale wasn't correctly done. Mobile money will rarely negotiate reduced payments and will be more likely to just seize the car.

immoral_angeluk

The only thing I can think is to possible approach a local advice agency who may be able to assist with making a charitable grant application to help with the arrears depending on your circumstances. Or are you able to borrow money from friends/family?

stokelady

Thanks for the replies - not really got anyone I can lend from, was hoping they may be willing to accept a small token payment with the promise of a payment on 4 weeks :-(

stokelady

another question.... if they sieze the car....any idea what time of day...would like to avoid as long as possible !