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Loan problem...
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Hi all, this one is very unusual.
I had a season ticket loan with my employer repayed from my salary monthly. I was made redundant after 15 years. I was told by HR to return the season ticket and collect a refund, then write the company a cheque. I did all this, collected the refund, duly wrote a cheque and sent it.
I then got a call saying I no longer owed the money, it was taken from my final salary payments (inc redundancy) and they would destroy the cheque. I genuinely believed the money was mine.
My wife and I spent the money (even though cautiously). 10 days later I receive another call and email (admitting the errors so I have it in writing) asking me to repay the money.
I no longer have the money to repay, my question is legally can I argue that fact and due to still being unemployed, not repay?
I have been to CAB and they pretty much think that as it is less than £1600 it would end up in small claims court and I would be imposed monthly payments at worst.
Thanks and Merry Xmas all!
I had a season ticket loan with my employer repayed from my salary monthly. I was made redundant after 15 years. I was told by HR to return the season ticket and collect a refund, then write the company a cheque. I did all this, collected the refund, duly wrote a cheque and sent it.
I then got a call saying I no longer owed the money, it was taken from my final salary payments (inc redundancy) and they would destroy the cheque. I genuinely believed the money was mine.
My wife and I spent the money (even though cautiously). 10 days later I receive another call and email (admitting the errors so I have it in writing) asking me to repay the money.
I no longer have the money to repay, my question is legally can I argue that fact and due to still being unemployed, not repay?
I have been to CAB and they pretty much think that as it is less than £1600 it would end up in small claims court and I would be imposed monthly payments at worst.
Thanks and Merry Xmas all!
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Comments
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You can't argue the fact that you owe the money. But I would think they will be receptive to monthly repayments given the circumstances.
Give them a call.0 -
You still owe the money - admin errors aren't reasons for withholding payments, but they should be agreeable to instalmental payments.0
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After working at the firm for 15 years you would have received a reasonable redundancy payout. Could you not repay using some of that? Surely you haven't you spent that already?0
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You didnt notice, after you had been given the info by the company, that the amount you owed, hadnt in fact been deducted. ????
Presumably you looked at your last payslip to see what was on it.
You dont have a choice, you owe the money, if you dont pay it back they have 6 years to pursue for it.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
This happened to me in a roundabout way(overpaid) i sent a counter cheque for 2k and believe me it got sent back to me instead of accounts..
I kept it for nearly six months when it nearly run out then banked it.
I then waited a few months and then had a holiday on the company...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
How can you bank a counter cheque payable to someone else?This happened to me in a roundabout way(overpaid) i sent a counter cheque for 2k and believe me it got sent back to me instead of accounts..
I kept it for nearly six months when it nearly run out then banked it.
I then waited a few months and then had a holiday on the company...
They can pursue you for 6 years anyway.0 -
Charge them admin fees.Be happy...;)0
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jonesMUFCforever wrote: »How can you bank a counter cheque payable to someone else?
They can pursue you for 6 years anyway.
WHO mentioned when it was,,,Know all..:cool:It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
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I inferred that the cheque only lasts six months so i had to present it...:cool:jonesMUFCforever wrote: »You didn't but you inferred that you were safe after 6 months when you were not.:DIt is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0
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