overdraft

[dutch0_9]

Ok im not sure if this is the right forum so sorry if it isn't

 

I got a lot of help from this site last year but now i am asking for a friend who really needs some advice.

 

she lost her job around october last year and is really struggling to repay her debts,

her credit card has been great when she phoned them and they agreed that she could pay them whatever she could afford each month,

 

but Lloyds bank who she has an overdraft of about £5000 are refusing to lower her repayments each month or freeze the interest,

 

she has had a few health worries the last couple of months and this is really affecting her,

 

so really im asking for help and advice on what we can do.

 

Thanks in advance

[rebel11]

Hi dutch

 

Has she been mis-sold PPI on any product? That can be claimed back 6 years plus with interest.

 

Have a read of 1,2,7 and 8 in my signature.

 

Templates can be found in the library.

[dutch0_9]

Im not sure about the ppi i will have to check, but thanks for the help really appreciate it

[rebel11]

Also as your friend has health problems. Here is the OFT Guide on debt collection:-

 

http://www.oft.gov.uk/shared_oft/consultations/OFT664Rev_Debt_collection_g1.pdf

 

Im not sure about the ppi i will have to check, but thanks for the help really appreciate it

[dutch0_9]

Thanks again, i think that she would qualify for a debt relief order, but she is worried that as she wants to go back to uni it may affect if she would be able to get a student loan, would you know anything about that?

[rebel11]

I've asked the Site Team for you.

 

Thanks again, i think that she would qualify for a debt relief order, but she is worried that as she wants to go back to uni it may affect if she would be able to get a student loan, would you know anything about that?

[citizenB]

https://www.nationaldebtline.org/EW/information/10%20ways%20to%20clear%20your%20debt/Pages/default.aspx

 

There is some information on DROs in the 5th box down on the list in the link above.

 

It is my understanding that you should have debts of less than £15,000, no assets (such as house / designer jewellery / car!!) and have a disposable income of less than £50.00 once all priority expenditure such as rent/council tax/utilities/living expenses, etc have been made. You would be discharged from all your debts after one year.

 

You might want to have a word with National Debtline for more information.

 

 

Freephone: 0808 808 4000

 

Monday to Friday 9am to 9pm

Saturday 9.30am to 1pm

[dutch0_9]

thanks to both of you i will update this as we progress

[jooshy87]

let me know how you get on in similar position