Unable to repay credit union loan

paddyrg

Carlo_Gambino wrote: »

Yeah that's about my understanding of it too so even if I was to earn £30 extra a week a would be £5 better of.

But on the other hand, you'd be working somewhere ready for when they can offer more hours, and getting back on the horse? And maybe it could also meet new people, build up some cameraderie, show you're a good worker, show off/refresh your skills, lift your spirits a little, etc? Ok, it doesn't solve the immediate problem of paying back thousands of pounds, but it may leave you in a stronger position overall? What I mean is you wouldn't only be a fiver better off, the intangibles may help too.

opinions4u

Carlo_Gambino wrote: »

With the utmost of respect to your good self it is that sort of attitude that is most unhelpful. It isn't a case of me refuing anything.

I suggested going to the CAB for assistance. There may be other charities etc that could provide similar help.

I have not been out of work since I was 17 years old and I'm going on 40 now. I repay every penny that I owe or have owed in the past but for the first time in my lie I find myself unemployed and receiving benefits of £60 per week. That's £240 per month of which the CU are looking £50 of. In that context that is a hell a lot of money. Unlike a lot of other people who may have simply ignored the CU I stepped up to the mark and accepted my responsibility to them, laid my circumstances on the table being upfront and honest. The manager himself awknowledged this.

But none of this entitles you to have interest charges stopped. Nothing entitles you to a lower payment. The CU offered lower payments but you aren't happy with these. They've moved as far as the can. But you still have to maintain the mobile phone and keep spending as much in the supermarket each week.

I think when genuine people ask for advice or assistance on forums like this it is your calibre of attitude that simply adds to the issue as opposed to trying to be helpful.

Where did the attitude in the thread begin. Read back your opening post. Depsite your 20+ years of hard work, suddenly you seem to think you have some sort of entitlement where your debts are concerned.

Here's some phrases from your post:

I informed him that I was still unemployed and things weren't looking good. He asked that I maybe look at just repaying the interest for the time being but as I am on benefits now even that seems a lot to ask. I asked if they could freeze the interest payments until such times as my situation changes and he said they couldn't do that - the only way that could be done is to close the account down and set up a repayment plan for the remaining loan amount. This won't help either for if I can't afford to repay the interest how can I set up a payment plan!

he simply was not leaving any room for manoeuvre for me. Interest only. Payment plan. Sounds like options.

I was under the understanding that the least that could have been done under the circumstances is a freezing of the interest to things get better for me? Why? If this was the case everybody would be shouting "hardship" to get their loans interest free.

I feel like simply sticking the finger up at them for their callous attitude And this line was expected to get you sympathy and support how, precisely?

I wish you luck and hopefully you'll find work soon and this problem will go away.

Carlo_Gambino

Oldernotwiser wrote: »

Your utility costs are enormous and £27.50 for food is a great deal for one person. You should easily be able to shave £5/£10pw off these figures.

I am beginning to think that rationale has escaped some on this forum which is very unfortunate for those concerned.

£27.50 "is a great deal for one person" for 7 days you reckon. Less than £4 per day is far too much you say. I'd love to see what your grocery bills are for I can assure you they are not £27.50 for one person.

Maybe you could advise me how do I get that grocery bill down some, can you give me an idea of a daily amount that you feel would be sufficent and how this translates into food?

Regards utility bills, I am literally just of the phone with CAB who have confirmed that my financial breakdown is in "about right" and they are contacting the CU to inform that that I am unable to make any payments at the minute and that interest should be frozen with the view to account closure and the balance repaid when I get into employment again.

Pheww...I sincerely hope none of you guys ever find yourself in this situation - genuinely.

Money_maker

Old Style board will be able to offer you meal plans for under £10 week. Check out the stickys.

crazyguy

Carlo_Gambino wrote: »

I am beginning to think that rationale has escaped some on this forum which is very unfortunate for those concerned.

£27.50 "is a great deal for one person" for 7 days you reckon. Less than £4 per day is far too much you say. I'd love to see what your grocery bills are for I can assure you they are not £27.50 for one person.

Maybe you could advise me how do I get that grocery bill down some, can you give me an idea of a daily amount that you feel would be sufficent and how this translates into food?

Regards utility bills, I am literally just of the phone with CAB who have confirmed that my financial breakdown is in "about right" and they are contacting the CU to inform that that I am unable to make any payments at the minute and that interest should be frozen with the view to account closure and the balance repaid when I get into employment again.

Pheww...I sincerely hope none of you guys ever find yourself in this situation - genuinely.

The words blood and stone come to mind, listen if you can only afford to pay £10.00 per month then they have little choice but to accept it if you can prove this is all you have then even via the courts they will not seek to take more than an affordable amount.

See what Cab come back with and if they fail then then I will put up a letter template for you to send them that has worked for numerous people I know in a simular postion.

You may need to pm me to remind me though.

Carlo_Gambino

Esoog wrote: »

How are you accessing the forum? Internet is not a necessity in times of hardship...?

LOL the desperation is unreal in some people. Let me ease your conspiratorial mind then, GiffGaff give you unlimited internet with your calling plan for the month and I need phone no matter what as my father is quite ill and also in 2011 they are a necessity. How do I call the jobcentre daily for job updates? How do I contact the benefits office as it's 20 miles away from where I live? How do I keep in touch with family etc?

opinions4u

£27.50 "is a great deal for one person" for 7 days you reckon. Less than £4 per day is far too much you say. I'd love to see what your grocery bills are for I can assure you they are not £27.50 for one person.

£400 a month for 4 adults and a child. That's roughly £20 a week each without scrimping and saving. Admittedly there are economies of scale when feeding a larger number of people.

Maybe you could advise me how do I get that grocery bill down some, can you give me an idea of a daily amount that you feel would be sufficent and how this translates into food?

Rice, pasta, beans etc can all provide the basis for cheap meals. Cereal and milk for breakfast with a cup of tea - less than 50p. Sandwich for lunch with a meat and salad filling - less than 50p. Ready meal for tea (economy range) - less than £1. Allow another 50p a day for toiletries, cleaning equipment, squash etc and you're in with a shout of sustaining yourself for less than £2.50 a day. I'd rather not do it, but if I had to I would - you do have room to manoeuvre.

http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=33

Carlo_Gambino

crazyguy wrote: »

The words blood and stone come to mind, listen if you can only afford to pay £10.00 per month then they have little choice but to accept it if you can prove this is all you have then even via the courts they will not seek to take more than an affordable amount.

See what Cab come back with and if they fail then then I will put up a letter template for you to send them that has worked for numerous people I know in a simular postion.

You may need to pm me to remind me though.

Mate that is the most down to earth reply that has been posted in this thread and I thank you dearly for that. There is a understandable tone that is lacking in a lot of people these days hence we are seeing global protests to make people see things differently.

Bar all the hintings that I am looking an easy way out, refusing to help myself and basically that it's my fault for the way things are the reality is that I am exactly the opposite.

I am not looking an easy way out. My back is just to the wall at the minute but CAB say that the manager did "not do all he could" - so here's hoping.

Thanks again.

poppasmurf_bewdley

Carlo_Gambino wrote: »

I am beginning to think that rationale has escaped some on this forum which is very unfortunate for those concerned.

£27.50 "is a great deal for one person" for 7 days you reckon. Less than £4 per day is far too much you say. I'd love to see what your grocery bills are for I can assure you they are not £27.50 for one person.

Maybe you could advise me how do I get that grocery bill down some, can you give me an idea of a daily amount that you feel would be sufficent and how this translates into food?

Regards utility bills, I am literally just of the phone with CAB who have confirmed that my financial breakdown is in "about right" and they are contacting the CU to inform that that I am unable to make any payments at the minute and that interest should be frozen with the view to account closure and the balance repaid when I get into employment again.

Pheww...I sincerely hope none of you guys ever find yourself in this situation - genuinely.

I'm comfortably off, fortunately, and I would think that I could get my food bill to rather less than £27.50 per week - indeed I often do.

One day - Breakfast - cornflakes/milk or toast & butter. Lunch - Home made ham or beef sandwich. Dinner - Iceland Curry (£1.50) and baked potato or rice. Supper - Supermarket Digestive biscuits.

Next Day - Breakfast: same. Lunch - Pork Pie (60p). Dinner - Grilled Chicken breast/baked potato. Supper - Penguin or Kitkat.

Third Day - Breakfast - same. Lunch - sardines on toast. Dinner - Ham salad with new potatoes. Supper - ice cream.

All those days food would cost about £3 per day.

Of course, if you go to the chippy or chinese every night you're talking £6, £7 or more every night.

You pay what you can afford, but in this country a single person can feed themselves well on £20 a week, as the above amply shows.

rising_from_the_ashes

Carlo_Gambino wrote: »

£27.50 "is a great deal for one person" for 7 days you reckon. Less than £4 per day is far too much you say. I'd love to see what your grocery bills are for I can assure you they are not £27.50 for one person.

Maybe you could advise me how do I get that grocery bill down some, can you give me an idea of a daily amount that you feel would be sufficent and how this translates into food?

As has been suggested pop over to the OS board & try the grocery challenge (great fun & loads of advice on how to cut down).

There are several couples who manage on £100/month and lots of single people on around £50-£60/month so you should be able to cut down a bit.

Re utilities - £30/week is HUGE (around £130/month)... shop around for cheaper etc but this is enormous - unless you live in a very large, old house?

Do you have a room you could rent out?

Unfortunately, the CU have offered you an option and if you can't afford this, then closing the account and setting up a repayment plan may be the only way forward - good luck

ETA - if you look at my sig you will see that my grocery budget is £100 for October - a 5 week month - and I'm still on track.....