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Hello everybody I have a loan from LLOYDS bank taken out in Nov 2007 of £12 500 with APR 16,5% without a PPI for 60 monhts. . My every month's payment is £ 302, never missed one single payment. This week I am made redundant and still do not have another job so, I am going to sign up for JScontribution or JSA. I want to write to the bank and ask them for a settlement. I want to offer them 1. a 40% - max .60% payment and the rest to be written off /cca £ 2500 - 4000 from £ 6 200/ or 2. to get a reduced monthly payment - the minimum I would be able to afford from JSC/JSA or 3. to get at least 6 months payment free holidays until I get up on my feet again. What if they will not agree? I have to stop paying from the next month and do not know how soon I could start paying it again. What can they do against me after stopping paying? If I get just £ 284 a month from Job Centre they hardly see any money at all...... Thanks for your answers.