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Lloyds TSB Personal Loan Problems

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Hi theyre

 

This is my first post so please excuse me if i miss anything else out if i do please correct me......

 

About 2 years ago i took out an unsecured personal loan with The TSB for around 14k over 5 years to consolidate all my payments into one as it was easier for me to do........but last febuary i was made redundant from my job and have had to take a 30% paycut from what i was earning,

 

im paying £385 a month over 5 years

 

hence meaning the loan payments have become increasingly hard to make over the months...which in december meant i missed several payments and got into areers with the loan and i ended up agreein to pay a reduced amount for 6 months......

 

a few months ago i had a think and decided to put the payments back up to what they should be but this isnt working for me as its meaning im having to go short on important things

 

So i have a few questions and would very much appreciate the advice of here as ive been reccomended by a friend and have been told you guys are the dogs danglies

 

1)If i was to ring up my bank and request to pay the same reduced rate again would they accept

2)Is theyre anyway to freeze the interest on the loan as when i was paying the reduced rate the bank were telling me its going to take over 100 years to pay

3) Can anybody explain bankruptcy to me as im considering do this as a last resort

 

Thanks Guys And sorry for the long post and if anything has been missed out please ask and ill add

 

Bob

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Hi theyre

 

This is my first post so please excuse me if i miss anything else out if i do please correct me......

 

About 2 years ago i took out an unsecured personal loan with The TSB for around 14k over 5 years to consolidate all my payments into one as it was easier for me to do........but last febuary i was made redundant from my job and have had to take a 30% paycut from what i was earning,

 

im paying £385 a month over 5 years

 

hence meaning the loan payments have become increasingly hard to make over the months...which in december meant i missed several payments and got into areers with the loan and i ended up agreein to pay a reduced amount for 6 months......

 

a few months ago i had a think and decided to put the payments back up to what they should be but this isnt working for me as its meaning im having to go short on important things

 

So i have a few questions and would very much appreciate the advice of here as ive been reccomended by a friend and have been told you guys are the dogs danglies

 

1)If i was to ring up my bank and request to pay the same reduced rate again would they accept

 

dont ask them TELL them in WRITING [only] - you take control of your finances NOT your creditors.

as a goodwill gesture during a time of financial difficulties, they will only be getting £XXX for XX mts, then do it by internet transfer [only!] & DON'T NOT FORGET IT without fail every month.

NO judge would ever make you pay more even IF and a very BIG if it ever got to court. if they tried that he would laugh them out the door and prob asign a smaller amount - but you must pay something regularly.

 

2)Is theyre anyway to freeze the interest on the loan as when i was paying the reduced rate the bank were telling me its going to take over 100 years to pay

 

as a reciprocal gesture of goodwill in your letter - request that they freeze interest & refrain from adding unlawful charges.

 

3) Can anybody explain bankruptcy to me as im considering do this as a last resort

 

have you though about reclaiming unlawful charges & p'haps mis-sold PPI? that can knock £1000's off loans.

 

Thanks Guys And sorry for the long post and if anything has been missed out please ask and ill add

 

Bob

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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in december i went to my lloyds bank and asked to pay a lower amount and they did it over the phone and i had no problems other than the interest problem and paying the debt for way past my lifetime

 

which would meaning not being able to afford my own home or anything and thats not a plan for the future

 

lets just say if i rang them and told them the amount i agreed to pay isnt working finacially for me at this time and if i could pay say half for another 6 months

 

wonder what theyd say to me

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you are missing the point

you dont ask you tell

 

take control of your finances .

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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Hi theyre again

 

Sorry to be Dumb but how do i go about trying to claim back PPI and if im succesful would this void my Loan insurance incase of unemployment ETC....

 

thanks again

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that is the PPI yes.

but its not worth the paper its written on and its vastly inflated price and complicated legability rules will most prob mean you wont be able to claim in it anyway.

 

reclaim it.

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/61081-ppi-some-notes-claimants.html

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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