Pregnant and have a Loan

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Lady_J_36
Lady_J_36 Posts: 2 Newbie
in MoneySaving mums
Not sure what too do or what my options are.
I'm just pregnant, and have a loan. I'm only entitled to statutory maternity pay. This will not be enough to cover my Loan and other bills. My loan has 29 payments left on it. I'm not sure what the best thing to do is. Does anyone have any advice please?

Concerned about this.
«1

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  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Seek help/advice from an organisation like National Debt line or CAB.
    Is it early enough that you could recoup or surrender the money/finance ? I am sure something can be sorted if being pro active as you are. Even a priority debt can have a payment break and be re-packaged if steps are taken in time, those who stuggle to get credit cannot be refused where there is a need for the goods/service and actually become exempt from charges as all have to keep going - things are a lot different now so don't worry.

    You can't pay ultimately what you don't have x
  • Lady_J_36
    Lady_J_36 Posts: 2 Newbie
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    Thank you.
    I didn’t think I could seek help until it became a bebt.
    I was thinking about having the conversation with my bank but wasn’t sure if they would black mark me.
  • Rainbowgirl84
    Rainbowgirl84 Posts: 1,175 Forumite
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    Talk to the father to be?
  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
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    Lady_J_36 wrote: »
    Thank you.
    I didn’t think I could seek help until it became a bebt. Do you mean 'a debt'? It's a debt now.
    I was thinking about having the conversation with my bank but wasn’t sure if they would black mark me.

    Better to talk to them now rather than when they start chasing you for payment. They won't like it but if you can't pay, you can't pay.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    What happened to the money?
  • -taff
    -taff Posts: 14,561 Forumite
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    |Go to the debt free wannabe board for advice.
    Shampoo? No thanks, I'll have real poo...
  • TomokoAdhami
    TomokoAdhami Posts: 154 Forumite
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    Where is the father of your husband? I don't think you should take another loan to pay off this one. Better to talk to some volunteers, maybe they would able to collect the exact money for you and you would able to pay your loan back. Just an idea came into my mind. Maybe it works or not.
  • annmaria2
    annmaria2 Posts: 43 Forumite
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    edited 13 February 2019 at 1:03PM
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    Definitely talk to the National Debt Helpline, they can help to get the ball rolling and help you sort out the agreement with the bank early enough so:
    1. you do not worry when the time comes! Been there myself and cant stress enough how tough it can be when you have unsorted debts and a baby :(
    2. bank will not be that favourable if you leave it till the last minute
    3. you are already in debt to the bank = you owe them money , so not too sure what are you referring to when you say you don't think you are in debt yet.


    Best way is to deal with the looming issue instead of waiting. Saying that from my own very painful and costly experience in the past.
  • shiny76
    shiny76 Posts: 548 Forumite
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    TomokoAdhami wrote: »
    Where is the father of your husband?
    Most of us live in more enlightened times ;)
  • BAFE
    BAFE Posts: 270 Forumite
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    What was the debt for? Could you sell the item and pay off the loan before you go on maternity leave?
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