GDPR Cookie Consent by SimpleServe Privacy Script Tesco Loan can't afford what should I do - AAD Consumer Forum

Announcement

Collapse
No announcement yet.

Tesco Loan can't afford what should I do

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • #46
    Re: Tesco Loan can't afford what should I do

    Hi Morris,
    Sorry, I've only just seen this thread.
    Have you actually finished work now and had your last wage/payout?
    If so, have you claimed all the benefits you're due to? You can do a benefit check here: http://benefits-calculator.turn2us.o...eEQaAlNd8P8HAQ

    If you've not started on benefits yet, it's probably the wrong time to complete a Financial Statement. As you haven't found a job to yet you obviously need to be careful with the money you do have.
    However, if you are now on benefits then you are receiving the minimum that the Government calculates you are able to live on. This doesn't include money for non priority debts. Under these circumstances (as opposed to debt collectors intimidating you for increased payments) it can be in your own interests to submit a Financial Statement if it's the only way to get the bank to agree to token payments.

    That said, rather than the banks Income and Expenses sheet, I always feel that it's better to complete the Nedcab online FS, which has helpful limits built in triggers for the maximum allowances for essentials such as housekeeping, travel etc.
    Creditors Income and Expenses forms are often unnecessarily complex and intrusive.

    The Nedcab FS can be found here: https://nedcab.cabmoney.org.uk/quickfs.asp

    When you wrote asking for token payments did you ask the bank to suspend charges and freeze interest?
    Obviously if they don't do this then the debt will spiral out of control. If they refuse to do this then the only recourse is to allow them to default and terminate the debt, at which point interest and will cease. It will also drop off your credit file sooner than an arrangement to pay marker.

    Finally, is this loan with a different bank to your current account?

    Elsa x

    Comment


    • #47
      Re: Tesco Loan can't afford what should I do

      see, told you some one else may have an Idea xx
      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

      Comment


      • #48
        Re: Tesco Loan can't afford what should I do

        Hi all thanks elsa for the response hopefully I answer the quires below. I have my last pay and will be living off my partners wage whilst trying to find work. She doesn't have enough free cash to pay the loan. It is only in my name. I will look to complete that financial sheet you provided when I am more settled. I sent them the letter that is on this site I think titled something like as creditor for token payments for 6 months I think it was written by niddy. I'm sure it asked to freeze interest and charges but need to double check. Oh the loan is separate to my current account.
        So do you think it's best to send them the expenses sheet or just resend my letter offering my token payments again thanks

        Comment


        • #49
          Re: Tesco Loan can't afford what should I do

          Hi Morris,
          Would you mind emailing me a copy of the exact letter you sent them (including your own amendments). undercoverelsa@all-about-debt.co.uk
          As you have zero income it changes matters slightly. Your wife is not liable for your debt, but creditors don't always see it that way.

          Is there any reason why you can't claim Jobseeker's Allowance?

          Elsa x

          Comment


          • #50
            Re: Tesco Loan can't afford what should I do

            Hi elsa I shall email you that later when I have access to my work computer as it's saved on there. I suppose I could claim jsa but never have claimed benefits as always worked so seems to go against the grain i suppose. But on the other hand I suppose I have contributed enough !!! Thank you

            Comment


            • #51
              Re: Tesco Loan can't afford what should I do

              Elsa email sent sorry for the delay !!

              Comment


              • #52
                Re: Tesco Loan can't afford what should I do

                Thanks Morris,
                Good job you told me, it had gone into my (very voluminous) spam folder!

                I'll get back to you shortly x

                Comment


                • #53
                  Re: Tesco Loan can't afford what should I do

                  Morris just as an aside I wouldn't save any personal materials on your work computer, without a doubt, your IT bods will be able to access that and as it is financial it could well come up as flagged in their reports. I'd get it off of there right away, you cannot be too careful with your online privacy.

                  Comment


                  • #54
                    Re: Tesco Loan can't afford what should I do

                    Thanks elsa. Yeah no problem I have moved it to my one now as have a new computer thank you

                    Comment


                    • #55
                      Re: Tesco Loan can't afford what should I do

                      Hi Morris, I've sent you a pm

                      Elsa x

                      Comment


                      • #56
                        Re: Tesco Loan can't afford what should I do

                        how you getting on with this Morris? any luck on the job front?
                        When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.



                        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                        Comment


                        • #57
                          Re: Tesco Loan can't afford what should I do

                          Hi sa gold Elsa kindly helped with a letter to send back to tesco. So I shall send that and see what they say. It was just to clarify my situation. So I shall see I will update once I get a response

                          Comment


                          • #58
                            Re: Tesco Loan can't afford what should I do

                            Originally posted by morris83 View Post
                            Hi sa gold Elsa kindly helped with a letter to send back to tesco. So I shall send that and see what they say. It was just to clarify my situation. So I shall see I will update once I get a response
                            hiya, ah thats good to hear. let us know how it all goes
                            When Gold isn't enough, there is SA Gold! New to the forum and find the UE route a bit scary? Take a look at my diary here and judge for yourself. I am now saving the money each month that was making little difference to the balance and not a bit of difference to my credit file as a result of finding AAD.



                            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                            Comment


                            • #59
                              Re: Tesco Loan can't afford what should I do

                              Hi All

                              Well after some time Tesco have agreed to £1 payments for the next 12 months. They agreed that a few weeks ago so I thought i would update. I am still struggling with employment but hopefully there is light at the end of the tunnel ! thanks for all your help. I am now struggling with Natwest CC so i will start a new thread soon !

                              Comment


                              • #60
                                Re: Tesco Loan can't afford what should I do

                                sooner the better, we can help you with that too xx
                                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                                Comment

                                Working...
                                X