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Thomas.kw
Starting Member
1 Posts |
 Posted - 11 April 2012 : 09:54:52
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| I have taken out a loan with Lloyds TSB for approximately £6,500 and had problems paying and asked for the interested to be frozen. I have been taken to court. To date the charges are £7,600. I am paying small amounts. Is the limit of the loan amount to not pay the interest below £5,000? |
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Melanie.n
forum expert
United Kingdom
1282 Posts |
Posted - 11 April 2012 : 10:10:40
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Hello there and a warm welcome to the forum - I am not too sure on your question?
Basically if you have a loan then the loan company have the right to expect you to make your contractual monthly payments. If you are not able to do that, you can sometimes arrange a new payment plan with them, and may be able to get the interest/charges reduced/frozen in the short term However, they are going to want you to repay your loan.
Do you have any other debts? Do you have an income? assets? -these things affect the advice we will be able to give you. Please provide some more information via a further post on the forum or alternatively click on the 'experts' button on the left hand side of the screen and scroll down and contact one of the experts listed, either of us will be only too happy to go through your situation and thus your options with you
Hope this helps, Melanie
Melanie Nicholas CertDR
30+years insolvency experience - 23 of which in the Insolvency Service and the past 8 years with a number of IP firms.
If I can be of any help to you in any way or answer any queries, concerns or worries you may have, or with completing the forms for bankruptcy, please do not hesitate to get in touch -I can be contacted via the experts tab
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I have a problem paying loan and have been taken to court
