Help required

stressed_out_dad

As the post said I need some help from you expert guys n gals out there.

Unfortunately I had an incident that has basically landed me on life support for a week and the dr don't know what whether it was a minor stroke or seizure at 30 this is scared me to death but not as much as work informing me that I will be on statutory sick pay ;(

I've contacted the bank for a payment holiday and was told I dont fit the requirements but they have offered me a nil payment 3 month option effectively putting myself into arrears.

I'm trying to correct previous wrongs with my credit rating so I'm a little scared of doing this and what my payments might be trying to catch up on arrears .

Any advice would be much appreciated

Tha is in adavance for any help got enough with the 3 kids and trying to come to terms with what's going on without money worries

kingstreet

Do you have income protection and/or critical illness cover?

stressed_out_dad

Afraid nor I was under the impression that I was full pay 6 months but apparently that's only through work injury etc .

kingstreet

Investigate the benefits to which you are entitled and yes, a payment holiday such as that you have arranged will be treated as "authorised" arrears.

stressed_out_dad

How would I have to repay the authorised arrears though would it be spread over the term or short term ?

kingstreet

That would normally be discussed with the lender at the point of arranging the "holiday."

It may be worth speaking to a debt counsellor or CAB before you proceed too far with this.

stressed_out_dad

Cheers for that I think I will contact the bank again to get the answer I require as I'm concerned that my monthly bill will be too high after this