Really need some help!

GeorgeUK

I don't suppose you could get a 0% card to pay this?
If you pay £12.50pw then it would still be more than 3% which some cards have as their minimum.

prozacthegigglefairy

Here is a monthly breakdown since loan started, of what payments we made, interest was charged and charges applied.
Feel so ashamed doing this.

Sept 06, Payments made £137.79, Interest Charged £93.45, Charges £0
Oct 06, Payments made £0, Interest Charged £79.30, Charges £20
Nov 06, Payments made £140.00, Interest Charged 83.06, Charges £60
Dec 06, Payments made £0, Interest Charged £83.62, Charges £30
Jan 07, Payments made £275.00, Interest Charged £87.61, Charges £40
Feb 07, Payments made £0, Interest Charged £82.59, Charges £10
Mar 07, Payments made £140, Interest Charged £85.10, Charges £0
April 07, Payments made £0, Interest Charged £83.91, Charges £0
May 07, Payments made £0, Interest Charged £ 87.19, Charges £50
June 07, Payments made £0, Interest Charged £91.57, Charges £20
July 07, Payments made £0, Interest Charged £95.89, Charges £20
August 07, Payments made £0, Interest Charged £99.98, Charges £0
Sept 07, Payments made £50, Interest Charged 103.95, Charges £10
October 07, Payments made £100, Interest Charged £105.51, Charges £0
November 07, Payments made £125, Interest charged 105.49, Charges £0
December 07, Payments made, £100, Interest Charged £24.95, Charges £0
Jan 08, Payments made, £100, Interest Charged £0, Charges £0
Feb 08, Payments made £75, Interest Charged £0, Charges £0
Mar 08, Payments made £50, Interest Charged £0, Charges £20.

Sorry it is so long, but is more of a breakdown if it helps.

Thanks xx

Jelly_Babies

Please don't feel ashamed about any of this, it really isn't worth it.

You mention in your first post you had PPI, is this right and if it is did it cover sickness and redundancy?

prozacthegigglefairy

GeorgeUK wrote: »

I don't suppose you could get a 0% card to pay this?
If you pay £12.50pw then it would still be more than 3% which some cards have as their minimum.

Unfortunately not, we have such poor credit, we can't even get a £50 overdraft on our bank account!

prozacthegigglefairy

Jelly_Babies wrote: »

Please don't feel ashamed about any of this, it really isn't worth it.

You mention in your first post you had PPI, is this right and if it is did it cover sickness and redundancy?

I am not sure, as the ppi info was all in the Welcome Pack, which, by the companies admittance, we never received, as they never sent us one.
The welcome pack also was what also informed us of charges but we had no such pack, and didn't know we were being charged until we got our statement last year.

addictedtosoreen

Hi prozac
i have no useful info for you im afraid, just wanted to say please dont feel ashamed, we have all been there and done that. Thats why we are here!

prozacthegigglefairy

addictedtosoreen wrote: »

Hi prozac
i have no useful info for you im afraid, just wanted to say please dont feel ashamed, we have all been there and done that. Thats why we are here!

Thanks hun,

We are working so hard to get debt free, paying creditors little bits, and more to the higher ones, but these have been such a big bear, because they don't seem to be budging.
I am considering taking a second job to get it paid quicker, but it means deferring my degree for a year..which i really don't want to do.
I am so confused, upset and frustrated with myself now.

GeorgeUK

prozacthegigglefairy wrote: »

I am not sure, as the ppi info was all in the Welcome Pack, which, by the companies admittance, we never received, as they never sent us one.

Did the company put this in writing?

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#general
Have a look at the summary at the bottom of this section

If you have an inappropriate PPI product and weren't told it was inappropriate or you don’t think you were given the full information on what the policy would and would not cover, send a letter asking for an explanation.

prozacthegigglefairy

GeorgeUK wrote: »

Did the company put this in writing?

No unfortunately not, this was said during a phone call.
The manager said we had not recieved one because the loan was arranged through our local branch and not head office.
We were not aware of that, we had thought we were dealing with the head office.

GeorgeUK

Might be worth posting up another thread for this PPI query seperately.

As you have never received the PPI details and STILL don't know what is covered, i'd try to get as much info as possible - possibly also ask CAB. I think to cancel the PPI on an existing loan, you would need to get another credit check - which you say is not a good idea right now, but you have basically paid for this protection and it looks like you would have been able to make use of it as you became ill after taking out the loan.

Not sure how much of a difference it will make, but definately worth persuing.