Tesco Loan can't afford what should I do

[Pixie]

Re: Tesco Loan can't afford what should I do

Thanks IF. I have finished my letter asking for £1 payments for the next 6 months taken from the template sections. I think i will enclose a budget sheet to be honest and transparent from the start. I have also asked to keep all communication in writing and for them to send a new direct debit form as i will need to cancel the one in force now. I shall see what they send back. Not hoping for much

TBH I wouldn't bother with the budget sheet. I know you think you're doing the "right thing" (we've all tried to do the right thing) but the creditor won't necessarily see it that way. When they look at the budget sheet they may think that you'll be able to afford more than £1 per month. They'll almost certainly tell you that

[morris83]

Re: Tesco Loan can't afford what should I do

Thanks IF. I have finished my letter asking for £1 payments for the next 6 months taken from the template sections. I think i will enclose a budget sheet to be honest and transparent from the start. I have also asked to keep all communication in writing and for them to send a new direct debit form as i will need to cancel the one in force now. I shall see what they send back. Not hoping for much

[IF]

Re: Tesco Loan can't afford what should I do

Thanks Pixie i have just paid my money to join AAD+ as im sure i will need all the help i can get !! thanks for the links i shall have a look through

Thank you for joining AAD+, I hope we can carry on helping you morris83

Best wishes
IF

[morris83]

Re: Tesco Loan can't afford what should I do

Thanks Pixie i have just paid my money to join AAD+ as im sure i will need all the help i can get !! thanks for the links i shall have a look through

[Pixie]

Re: Tesco Loan can't afford what should I do

You could just write your own or use one of our templates which are in this section. However to access the templates you will need to join AAD+. Have a read here and here.

[morris83]

Re: Tesco Loan can't afford what should I do

Oh okay thanks. Does anyone have a template letter or a link to one please

[Pixie]

Re: Tesco Loan can't afford what should I do

Thanks nightwatch and everyone. I think I shall send a token payment letter and explain my circumstances and see what they say and go from there. Shall I enclose a financial sheet showing my outgoings etc ?

I wouldn't with the initial letter though they may ask for it when they reply. You're under no obligation to provide them with this information.

[morris83]

Re: Tesco Loan can't afford what should I do

No problem Yeah this is the only debt I have fortunately! !

[nightwatch]

Re: Tesco Loan can't afford what should I do

is this the only debt you have?
not being nosy but if you can't afford one you may struggle with others

[morris83]

Re: Tesco Loan can't afford what should I do

Thanks nightwatch and everyone. I think I shall send a token payment letter and explain my circumstances and see what they say and go from there. Shall I enclose a financial sheet showing my outgoings etc ?

[nightwatch]

Re: Tesco Loan can't afford what should I do

Welcome to the caring place Morris
as all have said before me they can't have what you ain't got,

what ever you decide to do we are here to help

best wishes NW x

[cymruambyth]

Re: Tesco Loan can't afford what should I do

Hi Morris and welcome. I would suggest that you post when ever you get letters from the lender to get a suitable response. Any possible court action would take quite a while to get to and IF it happened there is a brilliant legal team at AAD that has either guided posters to victory or who have helped posters to negotiate terms before court. For now, try not to worry too much (easier said than done), they cannot take away from you what you haven't got! AAD does not judge or criticise, we are here to support and help! Just post any questions, no matter how silly they sound because they will have already been asked by someone; knowledge is power.

[CleverClogs (RIP)]

Re: Tesco Loan can't afford what should I do

Nor could a creditor obtain a Shylock Order to get a third of the debtor's liver or one of his kidneys, to sell on the international transplant market.

[Never-In-Doubt]

Re: Tesco Loan can't afford what should I do

Oh okay good old Cameron he has a lot to answer for! ! Therefore if I don't own any assets what could they do to enforce the debt? Sorry for the questions just all a bit daunting!

nothing much. They can't take what you don't have. If you don't own your home and don't have a car and don't really work then if you stopped paying there's jack shit they could do. It's civil. Not criminal so no jail. Ever!

[Never-In-Doubt]

Re: Tesco Loan can't afford what should I do

Oh dear. I see you've met our forum brain early. I'm pleased to see you've taken Cloggys posts as intended, dark sarcasm against the bullies - he doesn't mean to offend you guys so I'm glad you took it in the right context. He's funny but drives the point home which is why we all suffer love him so much.