Missed Payment

[Sheev01]

Hi, 

 

Just after some advice if possible. 

 

I'm really going to struggle to make my monthly payment this month, due to covid my working hours were reduced this month which has hit me hard financially. 

 

I've been on a 3 month payment holiday due to Covid and my payments were due to start again this month. 

 

I'm just not sure what the best way to approach this is with Moneybarn, should I call them, make a smaller payment that I can manage this month, any suggestions would be appreciated. 

 

Original loan was for just over £16k and there is currently an outstanding balance of £11,323

 

Ive not missed a payment prior to this. 

[dx100uk]

MB are one of the very worst lenders there are 

they have been fined by the authorities no end of times for various reasons 

mainly not treating customers fairly.

 

it is always bet to WRITE to any creditors so you have a paperwork trial should you need to complaint to authorities or a creditor or powerless DCA debt owner gets nasty.

 

i believe these covid arrangements have now been further extended past the initial 3mths idea.

i'd write wanting to extend the payment break another 3mts...briefly explaining you are now on reduced hours but have other priority debts (mortgage/rent/cta/gas/electric etc) that are all in arrears preventing any available spare money.

 

there is nothing wrong with you paying anything at anytime if thats the best you can do

you do NOT need a creditors permission or acceptance.

 

pers if i could, i'd dump MB as quick as you can, as it will only ever end in tears with them.

the consumer never wins.

 

[brassnecked]

Is this loan for a motor vehicle?

[Sheev01]

Yes, the loan is for a car. 

[brassnecked]

thanks, I'm sure the team can assist in best direction with Moneybarn Might be worth doing a searchusing the CAG search bar, top righ on the page under the header.to check out other Moneybarn threads, then you can see what shenanigans they might try.

[theoldrouge]

The FCA  have extended  the arrangements 

If you have already taken a car finance payment holiday, but are still having financial problems, you can apply for another three month freeze up until 31 October 2020

You should be able to do this online 

Moneybarn have an online form