Irresponsible lenders?

TPpurple

Actually i just wanted to delay some payments to take the strain off, I'm not trying to get out of paying or pay less interest or even take a ten month payment holiday, I just wanted to push some payments back a little til I go back to work and have a full wage coming in again. We did save and were responsible before getting pregnant. We both work and have good jobs, unfortunately some events you can't predict and can turn out to be expensive so I was trying to find a work around solution.

ILW

TPpurple wrote: »

Actually i just wanted to delay some payments to take the strain off, I'm not trying to get out of paying or pay less interest or even take a ten month payment holiday, I just wanted to push some payments back a little til I go back to work and have a full wage coming in again. We did save and were responsible before getting pregnant. We both work and have good jobs, unfortunately some events you can't predict and can turn out to be expensive so I was trying to find a work around solution.

So where does the "irresponsible lenders" come from?

Tixy

TPpurple wrote: »

We both work and have good jobs, unfortunately some events you can't predict and can turn out to be expensive so I was trying to find a work around solution.

It might be worth popping over to the debt free wannabe section of the forum and posting up a statement of affairs using the calculator over there. You might find that people can make suggestions on reducing outgoings by switching / getting things cheaper / finding places you can cut back etc, so that you can then better manage the repayments whilst you are on a reduced income.
I'd say in almost all statement of affairs posted there are some suggestions that could be implemented that you haven't thought of yourselves yet.

Apples2

This is simply how contracts work. They are black and white, entirely factual and makes no allowance for sympathy or in your case, preferencial treatment.

If they offered penalty free payment breaks due to maternity, why not for job losses, illness etc? Where would it stop?

If they did offer payment breaks, it would be open to abuse, I'm in no doubt even blokes would try to claim on it.

Appreciate your position but irresponsible lending it most certainly isn't. In fact, I'd argue the opposite, to make a robust and workable business, you need to know your income, and be certain of it.

DCFC79

Lol irresponsible lenders, tesco haven't been irresponsible at all from what i can see.

opinions4u

Being allowed to defer repayments is exactly that same as being allowed to borrow addiitonal money. It increases your debt and it increases your interest charge.

If your existing lenders don't offer such a facility then you need to cut other expenditure, borrow elsewhere or miss payments anyway. The latter will screw your credit rating so isn't recommended.

Suggesting the lenders are irresponsibile is ridiculous. You borrowed the money, agreed the repayment contract and now want to change the rules. Welcome to real life - it doesn't work like that.

It's not up to your existing lenders to provide you with some "breathing space" to pay for cots and prams and the like.

fozmcfc

Subject to you or your husband having a decent credit rating, a possible way to make things easier, could be to get a 0% APR on purchases credit card such as the 15 months M&S one.That way some monthly expenditure could be put onto that with no interest whilst freeing up money to make sure the loan is paid off.At the end of the 15 months, any remaining balance could then be transferred to another 0% on balance transfer credit card with a small fee and then have a year plus to pay the remaining balance off at 0%.

AMILLIONDOLLARS

TPpurple wrote: »

Actually i just wanted to delay some payments to take the strain off, I'm not trying to get out of paying or pay less interest or even take a ten month payment holiday, I just wanted to push some payments back a little til I go back to work and have a full wage coming in again. We did save and were responsible before getting pregnant. We both work and have good jobs, unfortunately some events you can't predict and can turn out to be expensive so I was trying to find a work around solution.

Don't know your situation, but if have a spare room you might want to look at renting it out on a temp basis, look in to the Government's rent a room scheme and Family Hosting of Foreign Students, this might be a solution to your problem.

AMD