another loan repayment query

25.lindsay

I am on maternity leave at the moment and at present I am only 1 month behind on my HSBC loan and £300 over my overdraft. HSBC have called me asking me to pay my usual repayment of £309 + half of my missing payment - £450 in total for the next 4 months. But as stat maternity pay is only just over £400 there is no way I can offord this. I have just spoken with the CCCS who advised me to go bankrupt - which i don't want to do unless absolutely necessary. I am looking at going back to work in July part time - so I would receive a pay packet at the end of the month - between now and the end of July does anybody have any advice on how I can keep HSBC happy and me with some pennies in my pocket? I only have 2 years left on the loan - so would like to see it out if possible. Thanks in advance.

Rafter

Lindsay,

All you can do it go and talk to them.

Take an income and expenditure account with you - showing how you won't be able to afford to pay until July. Ask them for a sensible payment plan and if they refuse say you will go to the press or declare yourself bankrupt meaning they get nothing.

They have to be reasonable in these circumstances under the banking code, so just be strong with them. Take the baby too - there is no way they want a monther and baby being given a hard time in an open branch - very bad for public relations!

R.