Unable to repay credit union loan

Apples2

Carlo_Gambino wrote: »

Y what would be the point of working to get £50 per month for that £50 to be taken out off my benefits?.

Good grief!!! :T:T:T We should all give up work.

As for utilities, I live in a 1930's 3 bed semi and pay £90 a month. I always come up in credit at month end. At no time have I ever considered I am on a good tarriff either.

Carlo_Gambino

Apples2 wrote: »

Good grief!!! :T:T:T We should all give up work.

As for utilities, I live in a 1930's 3 bed semi and pay £90 a month. I always come up in credit at month end. At no time have I ever considered I am on a good tarriff either.

I'm happy for ya!

pauletruth

don't worry about it then. don't cut back to repay it. after all do those single mums and old folks really need there money. treating a cu as the same as a credit card company is wrong. you have a higher moral obligation to pay them something even a £5 a month is very easily do able. Don't claim that you can't those of us who have been on the dole in the past have done so and know its do able. so please get out of this I am being picked on routine. Its not easy living on the dole but it is possible to manage. go to lidl or any cheap supermarket and you will get through. my daughter and partner are both living on £20 quid per week for both of them.

mondello

opinions4u wrote: »

£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.

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 - 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

Good post! I live on roughly £20 a week, some weeks less. Savvy shopping is the key. Cut out ready meals as they are quite expensive compared to cooking your own. Pasta dishes are very cheap. I usually cook enough for two in the evening and it means I have some left over for lunch the next day. I often go for own brand/value as I think it's just as good. Try shopping at home bargains or B&M as they always have staples cheaper than the main supermarkets. Try and go to supermarkets during the evening as you can get some good reduced food quite cheap. I always buy the reduced bread and keep it in the freezer for toasting. I picked up some good shopping advice from these boards.

I can't offer any advice with regards to the CU as I have no exp of this.

Emmzi

am I missing something? I thought you had to save with a credit union in order to be able to borrow? What happened tto your svings and can you use them to keep the loan going until you find work again?

Ames

It'll soon be xmas and there'll be loads of places offering temp work. You don't need the heating on till at least November - I nearly made it into December last year. I don't have central heating so have to use electric heaters which eat money so I try not to use them often. Blankets are your friend!

Put an ad on Freegle for a slow cooker, you can make great meals for pennies with one, freeze portions.

hurricanewyn

Emmzi wrote: »

am I missing something? I thought you had to save with a credit union in order to be able to borrow? What happened tto your svings and can you use them to keep the loan going until you find work again?

What about this? You need to have at least half the amount you wish to borrow in savings, before you can get a loan. Why can't you use this?

opinions4u

hurricanewyn wrote: »

What about this? You need to have at least half the amount you wish to borrow in savings, before you can get a loan.

It does depend on the credit union.

Why can't you use this?

It may have been the deposit for whatever the loan was used for.

teeni

Go back and try and negotiate with them most credit unions have a clause in their loan agreement that in cases of default they can apply to the job centre for direct deductions to be made from benefits. If you fail to pay you may find youor benefit reduced by £40 per week anyway and the ability to negotiate is taken out of your hands.

Oldernotwiser

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?
.

You've been a member of MSE for nearly a year and you can say that? Get onto the OldStyle Board where there are people feeding a family on that.