My first step

Justin_GB

Hi the loan company have asked the bank for a photo copy of the cheque, or copy of where it was sent. The loan company has said on the phone that they have received the cheque but what if they change there mind, if I have to pay this back I will loose everything, house, business everything, I have never been so worried

Shineyhappy

I would ask the bank for the cheque information in writng so that you have a copy of it and make sure you keep it safe for a long time!

Then talk to the loan company and ask them to write to you stating that they have had the cheque and cashed it and that they have closed your account at a zero balance.

If they have had the banks money they can not persue you! I think a lot of companies try to scare people into coughing up but why should you and the bank pay the loan off?!? They are being quite stupid and the bank will be on your side for once so take full advantage of it! If the loan company will not budge when they have seen the letter from the bank I would then tell them you will be writing to every financial ombudsman you can think of along with Watchdog, trading standards and the director of the loan company. Make sure you keep a log of every conversation, time, date full name of the person you talk to and I wouldnt be surprised if you got them running off with their tail between their legs! People are often much more helpful if they worry they will get into trouble. Also make sure you only speak to supervisers/managers and ask about making a formal complaint.

Justin_GB

Good morning,

Well maybe we are down maybe we are black listed may be we could end up in court cos we owe more than we have, but until the day they come to take our home away we are going to try every way imaginable to make some money and pay at least some of our considerable debts, and we are going to save, save, save.

First save on food. As for food we are going vegetarian again, ten years ago we lived on £12 a week for the two of us, I know that prices have changed but cut out meat and straight away £5 is cut off the food bill, and we could both do with loosing a few pounds.

At 6 this morning we walked the streets drooping off leaflets letting people know what we have to offer, and on Monday we reopen the doors and even if we only make a fiver it will be a start and will cost us nothing.

Sunday again at six am think of us standing in a cold windswept field selling as much as possible, you name it we are going to sell.

You guys are an inspiration, and at least if we end up loosing everything no one can say we haven't tried our best.

Thanks to the guy from the chip shop who was kind enough to bring us a free fish supper last night knowing we had problems, there are some kind people out there.

Justin

kathyb1230

Justin_GB wrote: »

Thanks to the guy from the chip shop who was kind enough to bring us a free fish supper last night knowing we had problems, there are some kind people out there.

Justin

Hi
I don't normally post in this thread, but I just had to say....this kind of thing really restores my faith in people. I love it that there are enough kind people reading these threads that someone will take it on themselves to help out like this.
Whoever you are....I think you're great!!!
Kathy x

Justin_GB

Well day two of trying to make an extra £5 a day, Friday £10, selling some of our stuff on eBay, today Saturday so far £13.75 weighing in someone's bed and metal stuff at the scrap yard, all before 7:30 am this morning.

Today we are going vegetarian and hope to save about £5 a week on our shopping bill.

Tomorrow selling our stuff at car boot weather permitting.

Justin

woofwoofwoof

Justin_GB wrote: »

We thought about the freeview idea, but the reception in our area even with a good aerial will not support it, others around us have tried it but no joy and gone back to Sky, maybe we should ditch TV altogether it will save electricity as well?:rolleyes:

If you have had sky for over a year the box and dish belongs to you so you can cancel your contract and use it as a freeview box and don't need to worry about tv aerials for reception.

Just checked, you can find out how to do this over on the 'Techie Stuff' board - I think you maybe need another card though.

Justin_GB

Good idea, I do not think we have had it a year yet but I will look into it, thanks,

Justin

Justin_GB

Justin_GB wrote: »

I may have another £12,000 debt to add to my total, and a default notice against my credit record. OK I took out a loan £8000 but thought better of it and asked my bank to return the cheque to the loan company, but they did not they cashed the cheque through there system and reissued a new cheque and sent this cheque to the loan company. The loan company say they have received the cheque but can not find it or what account it has been put into. I now have the loan company writing to me saying that I have defaulted on my payment. Now I am getting really worried I have no way of paying this back and I could be in real trouble.:(

I have now spoken to the loan company who say that they have made a note on my account referring the account to the guy who is sorting it out. This guy said not to do anything and he will contact me again if needs be. I have taken his name just in case. My worry is what if someone else decides to do something on there own bat. What are they likely to do next, I am interested to know what warnings you get, so far I have had one letter saying that I have missed a £200 payment on a loan, what happens next, do I get any other warnings or do they send in the bailiffs or do I go to
court, I am so new to this and although I am doing everything I can to find out I am still worried. I know I don't owe this loan as it has been cancelled but until they find the cheque in there system (please see my previous posts) and the account is closed I am worried that something could happen. My other debts are £19,000 without this one for £12,000 on top.

barron_hard_up

Hi Justin,

Welcome and hello. Go and see the citizen's advice bureaux, they can be pretty good. Good luck with getting the debt down.

I used to be self employed some years back and was doing really well. It all went wrong for me when I was severely ripped off and could not sustain the level of income needed. I got out of self employment and became employed. It gave me a better income and a base to build on.

Would working for a company be better for you financially?

Justin_GB

Financially yes, but there is not a problem with the business, it makes money and we are happy. The debt has come about for personal reasons, ie I was taken in by a girl friend who ran up huge debts on my credit cards then did a runner, it was my fault I know that now, and I left it too long before looking for help, I paid on CC with the other and now owe £19,000 when she spent only about £6,000. I really would not like to loose our business it means a lot to us, and it is a home as well.