GE money asking for full settlement of personal loan

[qwedr]

just recieved a letter from ge money asking for full settlement of my personal unsecured loan.

the loan still has over 4 years to run. i am behind on my payments but have been making regular payments recently.


what can i do. i obviously don't have this sort of money at hand to pay them back in one lump sum.

[Sapphire]

Re: GE money asking for full settlement of personal loan

Hiya hun,

Write back to them explaining your situation and enclose an Income and Expenditure sheet.

You can find templates for them in our Library.

[qwedr]

Re: GE money asking for full settlement of personal loan

ok will do that, slightly worried how i stand reguarding this though. anyone know if they can enforce this

[Curlyben]

Re: GE money asking for full settlement of personal loan

From the little information you have given, it is impossible to make any real comment.
Judging by your other posts, it would seem that your best course of action is to file for Bankruptcy.

[qwedr]

Re: GE money asking for full settlement of personal loan

i would like to get myself in a postion where i can sort out some sort of repayment plan. the problem is i dont have a job at the moment.

basically i need to find out some way to stall them so i can get a job and then arrange an iva or something similar

[Sapphire]

Re: GE money asking for full settlement of personal loan

Hiya qwedr,

If I were you I'd take a look in our library section (Tab at top of page), in there you will find template letters for dealing with your debts. You can then adapt them to suit and write to all your creditors and include a copy of your income and expenditure sheet.

That way you can come to some form of an agreement, all be it small and regular payments until such time as you can gain employment and then make bigger offers.

DO NOT I repeat DO NOT ignore your debts they will come back and bite you on the bum and it will be harder to sort out.