Beneficial Finance/HFC won't help me reduce my payments.

melmob

Hi,
Have a loan with Beneficial Finance think its around £1200 now. Paying £61 per month. However really struggling to pay it currently. Have spoken to them numerous times but they won't reduce it. Had to fill in a form of income and outgoings but they say we can afford it. If I could afford it I'd happily pay it. I want nothing more than to clear it even at £30 per month even temporarily but they will just not budge. ANY advice would be very welcome. They've been ringing my house and work today constantly so I gave in and have given them the £60 am now totally screwed for money for anything else. They have even taken my card details for the end of the month to take another £60. HELP!!
Thanks in advance.

[Deleted User]

They'll keep accepting your payments for as long as you can afford them. Once you have defaulted on your payments, then you may be able to set up a payemnt plan with them, but obviously that comes with the associated hit on your credit file. So not to be taken lightly.

lippy1923

Maybe there is unnecessary stuff on your income/outgoing sheet that they feel you could cancel (gym membership, sky tv package, mobile phone contract etc) which could be what's making them unwilling to give you a payment plan.

Try posting your soa on the debt free board. The peeps on there are amazing and will be likely to help you cut back on things.
Also visit the up your income board for ideas on how to increase your income - surveys, sell stuff on gumtree/ebay etc.

happy_bunny_2

I agree with above, post on debt free wannabe board.

By not being reasonable about your payment after your income form they are breaking OFT guidelines on debt collection. Hounding you to pay also breaks them.

Post on DFW with your SOA and you will get solid advice.

If you can't pay, then don't, if its unsecured then they are not at the top of the food chain in regards your available cash.

Good luck

HB

somethingcorporate

You were advised to post up your SOA over 2 years ago and have yet to do so and appear to be struggling with the same debt. You'll be offered better advice if you actually respond to the helpful posters on here.

https://forums.moneysavingexpert.com/discussion/comment/37053058#Comment_37053058

melmob

Thanks for the replies everyone. Something corporate, I didn't post an SOA last time as for 1. I didn't know what one was until very recently and 2. I managed to sort myself out last time but sadly 2 years on I'm in a bad situation. 3. I hadn't really used the site before and didn't understand how it worked etc, No need to be rude, replies like that make me not want to post anything. Just looking for advice on how to get round HFC, that's all. Thanks for replies again guys.