advice needed please

foolsgold4

Hi all My name is Jason and I'm 20

I currently owe £2000 and I have never really been in debt, I have to pay money back to the bank today I do not have the money to pay back the amount they want of £360 and they want it today I have bought as much time as possible what do I do in this situation?

thanks

Skint_Catt

:hello:

How do you owe the money - credit card, loan, overdraft?

And why do they want it back straight away?

Catt xx

foolsgold4

I accumulated the debt at university from overdrafts and dropped out of university due to my financial situation I thought I was going to get my last installment of my loan today to clear some of the debt but I spoke to the student loans company and I am not getting it as I stopped my course and the university alerted them. I need to pay £360 by this afternoon as I told them I would because I thought the loan was going to be here should of checked better really and not assumed I was still getting my last loan installment.

saffronflowers

Is the £360 in full and final settlement? If so be honest and speak to your parents there is no point getting a ccj or a dca on your case, so young -

SFx

bandraoi

Are you working at the moment?
Draw up a budget, work out how and when you're going to pay the bank back and go in and see them/ring them.

BAILIFFCHASER

sned them this letter with a £1 cheque. and see what happens !!!
This will buy a lot of time even may end up you may not owe them anything !!!!!

Client ref
Your reference :
Client reference :

Dear sir/madam

With reference to the above account, I am writing to confirm I am not acknowledging this debt.would you please send me a true copy of this credit agreement. I understand that under the Consumer Credit Act 1974 (Sections 77−79), I am entitled to receive a copy of my credit agreement on request and this should be supplied within 12 working days. I enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act.

Non-compliance with my request is a criminal offence under the above Act and will result in a report being submitted to the relevant statutory authorities.

As you are aware, a credit agreement that is not properly documented and signed by the customer is totally unenforceable under the CCA and therefore is a complete defence to any court claim that is issued.
Please note that under Section 189 you are obliged to supply these documents whether you are the original creditor or not. I await your reply.


adjust this according to your own needs. !!!!! If no agreement is produced in 12 days they cant do anything. If nothing is produced in 30 days you can report them for a criminal matter.

foolsgold4

I owe something like £820 to the bank and I said to them I was getting them £360 of partly what I owe, what are banks like to people in this situation? what will they say? if I payed a small amount would they except this?

BAILIFFCHASER

Send this letter of and see what they do trust me on this a court will not see this very lightly if the bank do not reply to your cca !!!!

saffronflowers

Right you need to tell us exactly what your incomings and outgoing are - and from that you can work out how much you can afford reasonably to repay the bank.

SFx

gettingitsorted

you could try speaking too the bank and telling them the situation you are in at the moment and see if they will accept reduced payments.

saffronflowers

BC - with all due respect, FG4 is 20 and he does not want to go !!!!ing off financial insitutions when he can reasonably sort this out.

SFx