My loan and now my worries
DazzFoster
Posts: 2 Newbie
in Loans
Over a year ago I got a loan from Amigo. My partner was the guantor. My mum had some of the money. I had no payments going out and was living with my mum.
Fast forward two years. I am now living with my partner in a council rented flat with our 7 month daughter. So of course my money circumstances have changed significantly.
We get roughly £1200 a month. 800 Universal credit and the rest is my partners maternity. She uses to pay for our daughters needs. Her car and her own debts. Out of the 800 UC we pay 412 on rent. And our left with 300 ish to get through the month. Now the amigo loan I got was 10,000 in the end and all together with interest it'll be about 26,000 I made payments up until I could. And then it got too much it was 395 a month. With my mum paying 200 aswell to help as she had money. Now I've done what I can to sort this. I've told them how my situation has changed. I've shown them proof. And I've said I can pay 200 a month. 100 me and 100 my mum. And they won't accept that. So are now saying they will take me to court. End of the day. No matter how far they take it it isn't going to magically make money appear. As I'm not a dad and living with my little family. I'm very worried about what could happen. Like without beating around the Bush. I hear alot about CCJ but my understanding of that is it puts you on a blacklist for 6 years? Is that simply it? The debt is written off? If I offer 200 to the court will they likely accept? If not then what is the worst case scenario in terms of. Jail. Our very few possessions and then our rented flat thank you in advance for your help
Fast forward two years. I am now living with my partner in a council rented flat with our 7 month daughter. So of course my money circumstances have changed significantly.
We get roughly £1200 a month. 800 Universal credit and the rest is my partners maternity. She uses to pay for our daughters needs. Her car and her own debts. Out of the 800 UC we pay 412 on rent. And our left with 300 ish to get through the month. Now the amigo loan I got was 10,000 in the end and all together with interest it'll be about 26,000 I made payments up until I could. And then it got too much it was 395 a month. With my mum paying 200 aswell to help as she had money. Now I've done what I can to sort this. I've told them how my situation has changed. I've shown them proof. And I've said I can pay 200 a month. 100 me and 100 my mum. And they won't accept that. So are now saying they will take me to court. End of the day. No matter how far they take it it isn't going to magically make money appear. As I'm not a dad and living with my little family. I'm very worried about what could happen. Like without beating around the Bush. I hear alot about CCJ but my understanding of that is it puts you on a blacklist for 6 years? Is that simply it? The debt is written off? If I offer 200 to the court will they likely accept? If not then what is the worst case scenario in terms of. Jail. Our very few possessions and then our rented flat thank you in advance for your help
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Comments
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If not then what is the worst case scenario in terms of. Jail.
You can stop worrying about that. No one is going to jail. Contact Stepchange, Christians Against Poverty or your local Citizens Advice who will talk you though your options.I used to think that good grammar is important, but now I know that good wine is importanter.0 -
No, the debt doesn't get written off with a CCJ. Quite the opposite.
The CCJ means the debt is still enforceable. It will stay on your files for 6 years.
Either with or without the CCJ, pay what you can. They can't take more than you have. You won't go to jail.0 -
If your partner is the guarantor then they can take her money and her car etc.
If they take you or your partner to court the bills just get bigger.Censorship Reigns Supreme in Troll City...0 -
What did you spend the £10k on?
How much of the £10k did you give to your mum?
Do you have a job? I can't see your salary in the amounts you gave.
What happens when your partner's maternity leave ends, will she be going back to work?
Whatever you do, don't stick your head in the sand. If you've ever watched an episode of 'Can't Pay We'll Take it Away' the last thing you want is bailiffs turning up on your doorstep and not to mention once it goes to court, thousands of pounds will be added on top of the debt.I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0 -
Get a job, any job, urgently.0
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Is it really that bad. I wish it was that simple. A good chance the court will deny 200 a month payment?0
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If £200 is all you can pay, then £200 is all you can pay. Your guarantor will need to pay whatever they can pay.
If it's felt you can pay more and you're just trying to get way with less, the creditor may push for more.0 -
As above, you need to get a job. There are plenty around at the moment, we!!!8217;ve near record low unemployment.
It doesn!!!8217;t matter what it is, anything on minimum wage for 40 hours a week will do for now.0 -
Could your mum afford more? If so, surely they'll try to get it.0
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