Hello my name is ***** ***** I will help you with this.
Is the loan secured or unsecured please?
Secured on the house
Ok - how much are the arrears and how long is left on the loan?
Is it a second loan, ie after mortgage?
Hi Alex the arrears are £781.47 and I have no idea about 3-4 years :(
My monthly payments are £490.00 but I just can't afford that now
So you can't afford even the monthly repayment?
no nerly £500 is over half of what i earn :(
Thank you. Its bad news then I am afraid.
They are entitled to issue proceedings and call in the loan
If the matter went to Court you would need to show the Judge that you could afford at least the repayments in order to avoid possession etc
oh ok thank you
But if you can't even afford the payments you would be delaying the inevitable.
Sadly that means they can call in the loan and are likely to seek possession of your home
I would suggest you go and see someone from Citizens Advice Bureau asap
They may be able to write to them on your behalf.
But sadly if you can't even afford the regular repayments that is going to be a problem for you
oh right thanks for your advice
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honesr
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