We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
paying loans after becoming disabled
Options
tommylion
Posts: 2 Newbie
hi people, wondered if u have any help for me as im in a bit of a problem,
i injured my back about 2 years ago lifting and havent been able to work since and cant see me doing in the near future. i was 22 when i did this and have had no trouble with my back before this injury, about 6 months before this injury i got a loan for £15000 for a car and pay my credit card. sadly i didnt get payment protection, i have sold the car since. i was paying the monthly fees with the money from the car which i sold, which is almost gone now. but soon i will still be having to pay the £300+ a month repayments from my disablity money and not sure what i can do. the disablity money just about covers this payment a month but leaves me with no disposable income to live on.
if any could have some suggestions and could help post a reply
thanks tommy
i injured my back about 2 years ago lifting and havent been able to work since and cant see me doing in the near future. i was 22 when i did this and have had no trouble with my back before this injury, about 6 months before this injury i got a loan for £15000 for a car and pay my credit card. sadly i didnt get payment protection, i have sold the car since. i was paying the monthly fees with the money from the car which i sold, which is almost gone now. but soon i will still be having to pay the £300+ a month repayments from my disablity money and not sure what i can do. the disablity money just about covers this payment a month but leaves me with no disposable income to live on.
if any could have some suggestions and could help post a reply
thanks tommy
0
Comments
-
Hi tommy & welcome to MSE
Think you need some help with this.
Think that you need to go to your local CAB/money advice for help.
They should be able to help you negotiate lower repayments & also carry out a benefits check for you while you are there.
Good luck!I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
You do not ahve to use your DLA for repayment of debts.
When prepping a pbs you can show it as incoming then put a section for disability costs and include it as outgoings - it is intended to assist with costs over and above those of an able bodied person. It is entirely up to you tho, if you do want to use it you can.
Did you hurt yourself at work? If so maybe a chance of industrial injuries benefit.
What are your circs? may be a pro rata offer or other dealing with debts option may assist.
call National debtline 0808 808 40000
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards