Urgent Advise Please Please

jeang

My husband took out a loan in his own name with his bank, I was unaware of this. He lost his job 10 days before he had been there twelve months. This was when I found out about the loan. He had paid protection but because he had not been employed in the job for a year they refused to pay it.

The bank should have made that clear that it was not worth paying for the first twelve months and we never got it back. The situation has got worse as I am self employed and my husband has still not got back into work. The collection agency for the bank are now telling me that I have to pay the bank loan back as I am married to him, otherwise they will seize the assets of by business and close me down.

We have three children and I dont know what to do....
Please can you help...

rayday2

Instead of not paying the loan arrange with them to make smaller payments you can do this solo or with the help of charities like the national debt helpline or CAB.

These arrangements only have to be temporary until your husband is in work again or if your commitments are tight even in work then maybe you could consider long term. Get advice first the national debt helpline have packs on line that you can download to get help today!

luckymum_3

pleeeease ,phone national debtline ,i have just phoned them and they are fantastic.....really.
let us no how you get on

Bunnyinthelights

Call CCCS or PAyplan today (see links above)
They cannot seize goods or any possessions without a CCJ first-it's a ploy used to get you to pay up. You are not liable for the debt either, just ignore them.

Good luck,
Bunny

robindunne1

As he is no longer working and it is the start of the financial year your tax credit award should increase. Usually it is calculated on previous years income, but you can elect to have it calculated on current years estimated income.

Obviously it depends on what you earn, but there is a potential to max out the tax credit award as you are self employed.

I'm an accountant work for the DWP. PM if you need advice.