Secured Loan Problems

[delta6370]

Hi there, 2 years ago I took out a secured loan for 5k, at the time I was working from home for a company and was earning enough to meet the payments. Then I lost my job (production taken overseas), so I started doing Kleeneze, I needed something that I could do from home as I am a single parent with 2 children and no family close by to help with babysitting.

Anyway, my income from Kleeneze is sporadic to say the least and my first years trading figues showed my income as £746 for the year!

I wrote to the loan company and explained that I couldn't make that month's payment and could they spread it over the next few months to help me out. They denied ever getting that letter and said ok spread it out over 2 months! (helpful or what!)

There have been times when I have struggled to meet the payments along with everything else, and have had phone calls from them nearly every week, one guy told me to get a proper job, (my comment to that was i will when you do!), told to get a paper round, not pay my gas/lecky cos they wont cut me off, dont pay the water etc etc.

They also told me that they would black mark my credit file, to which I said, 'yea and your point is?' I pointedly told them that I have a credit card, not planning to move and I have a bank account so what exactly are they trying to threaten me with?' he wasn't sure how to answer that one!

Anyway last week I lost my temper and told them not to contact me by phone again, I was trying my best to pay them and if I haven't got the money then I haven't got it. At present I am basically getting nothing from Kleeneze and am living on £120 per week tax credits. His response was yes we will stop phoning you, but we are going to court for repossession.

So today I got a letter from 'their' solicitors telling me that they are going for repossession.

1st point.... it says that I will be liable for any costs incurred, and that a note of the costs and charges is attached..... er no it isnt.

2nd point....any arrangment that I make will be incorporated into the court order! err if I pay the arrears then no need to go to court so no court order?

3rd point.... they have enclosed an income/expenditure form for me to fill in, fine ok I can do that, no problem, but....it asks if I have a car (apparently that is an asset...but the loan is secured against the property so whats that go to do with anything), and they want to know about bank accounts, right down to asking for statements and sort code/account number. Can they actually ask for bank statements and accoutn numbers? I thought this would be Data Protection Act protected, do I have tpo provide that personal information?

So any help with regard to the points would be good, I don't dispute the debt, I want to pay it off, but I also need electricity/gas/water and to feed my kids and pay my main mortgage, they need to understand that they are just one creditor and not the be all and end all and that they have no right to talk to me the way they have done, telling me to leave my kids alone and work 24/7 just to oay them (that was what one of the said to me)

MTIA

[Trojan1401]

Just a thought, would it not be possible to discuss with your main mortgage provider whether they would allow you to add this to your main mortgage ?

That would get these lot off your backs and I would bet the payments would be cheaper

[PriorityOne]

Does anyone know if a person would still have to sign a CCA for a secured debt?

[lookinforinfo]

Delta, not sure if they can force repossession if your main lender on the
property objects.
I think it ok to supply them with your income/expenditure details but I would
not give them your personal information-even Courts do not require that.
They may well supply it to the CRAs as well, so another reason to refuse.
If you could make up the arrears it might help, as these kind of Court cases
will work out expensively for you and best avoided if you can.

On the subject of Kleeneze, a lot may depend on your catchment area. And
how reliable you are in terms of going out on regular days and collecting
the brochures regularly too, so that potential buyers can see how consistent
you are. And the longer you continue, the more you learn on who to leave
the brochure with and who to ignore.
As you are sticking with it, you should talk to those above you who are
making money, and ask them for help with your circuit or whatever its called.
I am assuming that your immediate upline is not too successful themself, so
you will need to go over their head [let them know] so that you can get the
help you want to increase your take.
I haven't tried them myself, but understand how they work. It also helps
when you can recruit others so that you are not solely relying on your own efforts. And the more successful you are, the easier it is to get others to join.

Good luck.