paid for 4 months after leaving work.

getmore4less

getmore4less wrote: »

what have you spent it on,

Thats over £1300 per month.

if you were buying a house and changed jobs you would have a close eye on your finances.

kevd10 wrote: »

I don't see any relevance in this apart from being nosey. My question was not about whether or not I should have spent it.

Well you should not have spent it.

what were you expecting a big overdraft and the charges to go with it?

Any sensible person with controll of their finances(even those that have no controll) would notice that suddenly they have over £1k extra a month to spend.(perhaps an alcoholic druggy might not)

Those that would not notice the odd extra £1k would be earning enough not to worry about paying it back.

The problem is you claim to have been changing jobs and buying a house which would both need a carefull bit of financial planning and the mortgage company would have needed a SOA so your spending would be fresh in your mind..

Anyone that can go 4 months and overspend by £1300+pm needs a better story than to claim that they were just using their card a lot and can only afford £150 after pending £5.5k.

Whats yours? Mines a pint:rotfl:

I think your old company might be prepared to go for a payment plan, hope you left on good terms.

If they know what they are doing they could cause you a lot of issues they might not be happy helping you buy this house.

kevd10

OK, well for all who insist on knowing how I could unwittingly spend 5k in 4 months...

I had taken out a loan for around 4k for personal reasons that you simply do not need to know. I was informed by the loan company that I had been accepted. Basically I just automatically thought this loan had been processed. A long story short, found out some time after that the money wasnt from the loan company but from my old employer. I did not think I would have to go into such detail about this as it is simply none of anyone elses business. So if you are not going to post anything interesting/constructive on this matter, please dont post at all. If legal action is taken, then so be it, I cant magic the full amount from the tree in my garden, so they wont accomplish much.

moneypuddle

You've already said 'I dont have it, so I guess all I can do is offer to repay x amount monthly' so what advice are you after?

My advice; get online banking. Four months is a LONG time to go without checking your balance

getmore4less

kevd10 wrote: »

OK, well for all who insist on knowing how I could unwittingly spend 5k in 4 months...

I had taken out a loan for around 4k for personal reasons that you simply do not need to know. I was informed by the loan company that I had been accepted. Basically I just automatically thought this loan had been processed. A long story short, found out some time after that the money wasnt from the loan company but from my old employer. I did not think I would have to go into such detail about this as it is simply none of anyone elses business. So if you are not going to post anything interesting/constructive on this matter, please dont post at all. If legal action is taken, then so be it, I cant magic the full amount from the tree in my garden, so they wont accomplish much.

Chase your loan application or do another one.

That will put you back to the state you thought you would be.

FBaby

Ummm the money came in monthly how could this confused with a loan? Anyway as you said that's not the issue you want to know if they'll accept repayment on your terms. Only they can tell you. They might be a big company with too much going on to care that you tried to steal from them and be happy that you are repaying regularly for audit purposes or...there are a company high on principles who will be disgusted by your accepting these payments you were not entitled to, won't believe your excuses, and will ask for ask the money to be repaid at once not caring a doodle whether you have the money in the bank or not. I know which one if go for if it was my company!

starrybee

getmore4less wrote: »

Chase your loan application or do another one.

That will put you back to the state you thought you would be.

Yup.

I don't really understand what your problem is, you spent what you thought was a loan, so use the loan/a new loan to pay off the money you shouldn't have spent. Then you're back to paying off the loan using the monthly repayments that you had already planned. Simple.

marybelle01

A story with so many holes it's a sieve

OP applies for loan, has loan approved, no paperwor, but assumes money that they don't know is in their account because they never once checked the statements in four months is the money for a loan that they haven't actually received - or that they did in which case they have spent that AND the overpayment, which is a lot of money to spend without knowing or once looking at your account balances.... Goodness. Incredible. More likely OP notices they have money they shouldn't have,decides to chance it, gets cold feet, wonders whether someone can tell them how to get out of the consequences of their decision.

OP appears to think that getting blood out of a stone has no consequences. What if the employer decides not to go with this theory? Court judgements, risk to your home, attachment of earnings orders arriving at you shiny new employers office... As others have said, you somewhere here should have a loan you haven't spent. Pay the money back and stop prevaricating.

hoppo,p

Regardless of all the trolling & convoluted posturing above, you had the money & had a great time spending it no doubt.

Agree with them some terms that suit you! They made the mistake, you flagged it for them. Get some proper advice but i'd pay back the bare minimum over the longest possible period

No doubt the great & the good will attack that 'advice' but this IS the real world. Good luck.

Takeaway_Addict

hoppo,p wrote: »

Regardless of all the trolling & convoluted posturing above, you had the money & had a great time spending it no doubt.

Agree with them some terms that suit you! They made the mistake, you flagged it for them. Get some proper advice but i'd pay back the bare minimum over the longest possible period

No doubt the great & the good will attack that 'advice' but this IS the real world. Good luck.

This is the correct advice with the exception that you have to be realistic to the company, they will not want to accept £10 a month until its paid of but then you need to make sure if you are paying them back its an affordable amount.

£5500- £400 and then £150 a month basically equates 34 months payment plan, so just under 3 years.

hcb42

If I were the company, and you offered me 1/4 back now and 1/4 over the next 3 months, I would probably accept it.

Your proposed offer is derisory and If I were that company I would probably sue you in that case as you would appear to demonstrate no budgetary responsibility and therefore I would not take the risk that I would see my £150 every month for the next xx months.

That is if this is a true story, I am not sure I am convinced either!