Good evening all,

I took out a unsecured personal loan around 2 years ago with Tesco bank.

My financial situation has changed quite a bit in the past 6 months, lost a family member, dealing with depression and anxiety and due to this my self employment businesses sales have plummeted. I got a part time job to help cover my living expenses so i'm trying my best to keep up with all of my payments.

My outstanding balance is just over £16k. Monthly payments just under £400. The past 4 months I've been paying late. At the end of every month I end up giving every single penny I have toward this loan payment.

Tomorrow I am planning on sending this letter off I found in the forums.

https://www.consumeractiongroup.co.uk/forum/showthread.php?387346-Ask-Creditor-to-Accept-Pro-Rata-Payments-**Correct-as-at-October-2013**

I was just wondering where I can find a I/E sheet? and do I include this loan payment in that sheet?

Also what is considered a reasonable offer that they would be inclined to accept?

Is this the best way forward?

Thank you in advance

Thank you!

Do I include this loans repayment as an expense?

ofcourse

i'm at minus £200 odd for the month, I have been borrowing money from my parents to cover the payment for the past few months, do i mention this?

so i'll most likely be offering £200/month, this isn't an 'insulting' offer is it?

thank you

NO

no

what other debts do you think you have to pay?

list them

This is the only debt I have.

The large portion of my expenditure is direct debits for gas, water, electricity, car insurance, road tax, Internet, mobile phone. I've had to have a very frugal lifestyle for the past few months so other expenses are at a minimum already

Do I send them the i/e sheet with the minus or do I change it so it looks like I have just enough? I can just add my parents money as an income from my job

Internet, mobile phone are not priority debts.

I can just add my parents money as an income from my job - ok

I need both for my work but I've tried to reduce them down a lot too, around £20 for both

So do I send it off and leave it as it with the minus figure?

If I show them that I have just about enough won't they just decline my offer?

they don't decide you do...

take control its YOUR MONEY ...

You're right, I'm going to send it as it is with the minus then and offer them an amount accordingly.

This place has helped me ease my worries so much I appreciate your help.

Quick update, Tesco were really helpful and agreed to a lower payment for 3 months and they will review my circumstances again after 3 months.

Thank you DX! You don't ask you don't get.

and you then continue to plead poverty.

Hi, I'm about to send another letter as my situation hasn't improved, in fact it's gotten worse. I can only £5/month after cutting back on everything. I was wondering whether there is formal way of requesting that they get back to me via letter? I have anxiety and speaking on the phone amplifies it.

Who talk on the phone?

You never do that for any debt

Just send it to them and pay when gou say you will

You dont need their permission

Its YOUR MONEY..tske control not let your creditors........

Last time I sent the letter in they called me multiple times to accept the offer and to set up the standing order. OK I'll just mention the date I'll start paying in then.

Yep as post 13..way to go!!

If they ring in future simply tell them "everything in writing" and hang up.

Repeat the process or block their number.

Good evening all.

I've received a letter from Tesco stating that they want to know about a certain payment to another creditor and the balance of that account.

They also said due to the level of arrears on my account and the low payment offer I made that's it's necessary for them to issue me with a default notice followed by a termination notice and that I'll receive these in the post shortly.

They also mentioned that after the default and termination notice that my account will be transferred to the recoveries department,

does anyone have experience with them?

Will it just be me making an agreement with another department?

Without sounding silly, what do I do?

Send them a letter with the balance I owe to PayPal?

They want a reply within 30 days.

Also they said they will default and terminate my account then further down the letter they state if I don't reply within the 30 days that's when they'll automatically default and terminate my account

They've put my account on hold till a certain date by the way.

Theyre just passing you to their debt collection team. Its still tesco. If its another company, tell them to get lost and deal with tesco.

Remember, they dont get to demand a payment amount. All payments to non essential debts are paid equally so no creditor is treated unfairly.

Dont tell them specifics. Send them a simple budget summary that says something like "credit card 1 - xxx amount, credit 2 -- xx etc etc.

Dont go naming names.

https://tools.nationaldebtline.org/yourbudget/ is a good budget summary generator.

remember, if they refuse your payment and youve sent them proof you cant afford more...i drop them to £1 a month until they comply.

bottom line is it doesn't matter what you do

they are still going to default and terminate the A/C

they've no legal remit to demand any evidence, only a judge can demand that, and as its not going to make a monkies diff to their decision, whats the point, none of their business anyway!!

you only ever communicate by letter too!

Ok I understand, the trouble is I'm paying the other creditor 8 times more than I'm paying Tesco, could this be why they 'refused' the offer?

Thanks for the advice, I'll just reply with a short letter stating the balance for the other creditor and nothing else, right?

I might be sounding a bit ahead of myself but I just don't want anyone knocking on the door.

knocking on your door? explain more?

A debt collector or bailiff

they are not the same thing!!

a dca is NOT A BAILIFF

never can be a bailiff

and has

absolutely ZERO legal powers.

a bailiff could only EVER be involved in a civil consumer debt IF:

someone takes you to court.

you lose [FAT chance here]

you fail to pay in 28 days

the judge allows their use.

and even then they have NO RIGHTS of forced entry on a civil consumer debt, and in any case can almost always ignored as such.

pers I wouldn't be replying to tescos at all as post 21