paying loans late

dealer_wins

Monika01 wrote: »

You should be give more interest.

Most idiotic post ever award!!

Thrugelmir

transforms wrote: »

my house is not even worth enough to sell it either - I simply owe too much. Im finding it all a bit too stressful to be honest. Im sure I shall sort it, I just want my business to get better, get me back into profit and earning like I used too. I shall prey for a miracle

Sounds as if you are in a precarious position financially. As has already been suggested. Speak to the National Debt Helpline. It's a free phone number so no cost.

BillJones

transforms wrote: »

what I cant get over is that i am paying them, all be it in dribs and drabs, but im paying over the agreed amount to clear the arrears ? ,,,so why would they proceed to take the house ?

You are paying them late, and getting further into arrears, and also costing them money by causing them to repeatedly chase you for the missing money, so it makes sense that they want to simply get back what they can now, and move on.

They probably suspect that this is far from a temporary issue, so don't want to wait forever.

You need to speak to them, arrange a payment plan, and work out a way to get your payments up to date.

Hanky_Panky

BillJones wrote: »

You are paying them late, and getting further into arrears, and also costing them money by causing them to repeatedly chase you for the missing money, so it makes sense that they want to simply get back what they can now, and move on.

They probably suspect that this is far from a temporary issue, so don't want to wait forever.

You need to speak to them, arrange a payment plan, and work out a way to get your payments up to date.

I agree.

Sorry to say this as your are clearly struggling at the moment but you sound like a nightmare customer for them.

Paying in dribs and drabs plus late as well is almost as bad as not paying at all. There is no structure to what you are doing and they just do not know from one month to the next how much you are going to pay or even when you are going to do it.

Please follow Tixy's advice - you need to work out how much you can afford to pay (this will need to be at least the normal monthly instalment as it is a secured loan) agree a date when you are going to pay it and stick to it if you want their continued cooperation. A day late here and there is no good.

davec1960

jmhgibson123 wrote: »

im sure they wont make you sell if its not worth it but they may put a charge on it so if you do ever sell they get their cut,

It's a secured loan, they will already have a charge

Lioness_Twinkletoes

I agree you need professional debt help. Your attitude to your secured loan is worrying; you don't seem to realise that by defaulting on the payments you could potentially lose your home. Your loan provider, at this stage, needs do nothing but wait for you to continue defaulting. He doesn't care that you lost your job - he just wants his payments - on time and for the right amount as agreed by you when you took and spent his money.

iolanthe07

transforms wrote: »

will do thanks xx I pay everyone else £1 per month. Its just quite frightening to listen what could happen from them, even when you are paying them ? all be it a tat late etc ...,but im making the effort. I find it strange things are not taken into account when your income changes ? my loan is linked to the base rate, but it never went down when the base rate went down like my mortgage.

im in over a grand in arrears

Sorry, but a grand in arrears is a bit more than a tad late. As others have said, take advice from one of the debt charities.