How willing to co-operate are lending institutions?

davelacey

Hello all.
I would prefer to approach my creditors personally first, before contacting the CCCS or payplan.

I am self-employed, (as a musician, work is always on a contractual basis), and currently have no work until May, and am therefore unable to service my debts until the end of that month.

How, do you think, creditors will respond when I ask them to "freeze" repayments until then?

Many thanks in advance.

kathfisch

Well all you can do is ask! But anything you can pay would surely help, even if its just £1 a month to each of them. You need to give them as much info as possible to convince them of your situation, a Statement Of Affairs showing what you have coming in (if anything) and going out, what your living expenses are etc.

Is there a particular reason why you would prefer to try yourself before contacting CCCS or Payplan? All they will do is negotiate with the creditors for you and they have lots of experience of the best way to go about things.

davelacey

Hi and thanks for responding.
Yes there is a reason, and that is seeing as my financial "black hole" is only going to last a couple of months, it doesn't seem worth using CCCS or payplan where there are people in far worse situations than myself.
That may sound patronising, but truly it isn't intended that way.

kathfisch

davelacey wrote: »

Hi and thanks for responding.
Yes there is a reason, and that is seeing as my financial "black hole" is only going to last a couple of months, it doesn't seem worth using CCCS or payplan where there are people in far worse situations than myself.
That may sound patronising, but truly it isn't intended that way.

No, that makes sense. To be honest, if the problem really is only for a few months i'd ring your creditors and talk to them honestly, they may be much more willing to make allowances if you commit to restarting the payments and do. If your job is unpredictable and this might happen again they may not look on it so favourably the next time!

davelacey

Unfortunately, "unpredictability" is the nature of the business I'm in.
Many thanks for your help - it's much appreciated.
What a fantastic site this is. :T

Sooty0404

Hi Dave

Contact the credit card companies and simply tell them you have been made redundant or have become unemployed. Too much information can become confusing, espaecially when dealing with the New Dehli branch of your credit card company.
If they think you have lost your job they will have a script for this and will probably be more able to assist you on a short term basis.

kathfisch

davelacey wrote: »

Unfortunately, "unpredictability" is the nature of the business I'm in.
Many thanks for your help - it's much appreciated.
What a fantastic site this is. :T

It certainly is - welcome to dfw!!

As for the unpredictability, that's just the way in some businesses isn't it?! If you are not employed until May what will you be doing until then? Can you sign up with an agency and do temporary work in the intervening time, most of them don't require particularly complex skills and the rate of pay can be good. If you had lost your job and were going to spend your time looking for work, fair enough, but a creditor might question why you're not doing anything to make money before your contract starts.

Toto

Hi Dave

I am a muso too and understand the situation. Have you ever thought of doing some crew work in the down months? Even signing up with gallowglass or affinity crew might be an option, you can then just do ins and outs. We have a sound company and almost all of our crew are musicians, you already have an understanding of how a stage is set and how to mic instruments, the rest is really just a case of learning to patch and speed.

A couple of other questions, What do you play? Are you a session musician or do you play with a band? If so, is it a function band? Jazz? etc etc.

davelacey

@kathfisch: Well I took a trip to my local jobcentre the other day and they gave me a number to call to register as unemployed, which I did.
It turned out that their computer-system had crashed, so I'm now awaiting all the paperwork to come by "snail-mail".

I do have insurances on both credit-card AND personal loan (with the same bank, which always raises a smile ), and they should both kick in as the reason for my unemployment was that the venue could no longer afford live music.

@Sooty0404 - thanks for that - point taken.

Toto

one other thing, have you ever thought of working the cruse liners? Good money which is regular, you can pick and choose the cruises you do and for how long, so it can fit in with other obligations. Also you get to see the world while being paid. Not a bad life really. You do need to be a decent reader though and be everso flexible in your styles.

davelacey

Toto wrote: »

Hi Dave

I am a muso too and understand the situation. Have you ever thought of doing some crew work in the down months? Even signing up with gallowglass or affinity crew might be an option, you can then just do ins and outs. We have a sound company and almost all of our crew are musicians, you already have an understanding of how a stage is set and how to mic instruments, the rest is really just a case of learning to patch and speed.

A couple of other questions, What do you play? Are you a session musician or do you play with a band? If so, is it a function band? Jazz? etc etc.

Hi Toto
One of the greatest bands ever, imho.
I play piano and all keys - those that actually need playing, that is. For live gigs, I do it the Wakeman way - if I can't play it live, it doesn't get played.
Mostly now I work on cruise ships - there's not much left in the UK, as you're probably aware,

At 52, I may just be a tad old for crewing, (unless it's for Status Quo hehe).