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| bados |
Posted - 14 March 2012 : 02:57:02
Hi,
I returned to work on the 5th March after seven months of being off ill with a back problem. i started back on full time hours and decided to celebrate my recovery with a holiday. On the 7th March i took out a provident home loan for 2k. I purchased my holiday the following day and was looking forward to it as it will be the 1st in eight years :). Sadly my back injury has relapsed and i have been moved down to reduced hours which i am struggling with, i had an occupational health meeting and they mentioned that i may not be fit for work and are currently reviewing my position within the company. I am looking at bankruptcy if i lose my job as i will not be able to afford to repay my debts and i fear i wont be re-employed if i cannot guarantee 100% attendance. As a result of this i repaid the remaining money i had left over from the loan which was 450.00 pounds which equates to 9 weeks worth of payments but fear if dismissed from my work/ or asked to continue on reduced hours i will not be able to make any further contributions.
I have read horror stories about individuals in similar situations being accused of fraud by the loan companies espically the sub prime lenders such as Provident and the likes. i have tried to obtain a refund but the holiday company are having none of it, too close to departure to cancel and i lose 100% of the cost of the holiday.I am really scared that i maybe accused of this even though i took it out with the best intentions and paid everything i had left immediately back to the loan provider. (i will not be making my petition until April if i have to go bankrupt as i have enough savings to pay this months bills) Can anyone offer any advise? I'm so worried about everything, its driving me crazy. |
| 3 L A T E S T R E P L I E S (Newest First) |
| Viki.W |
Posted - 14 March 2012 : 07:35:30
As you didn't intentionally take the loan out knowing you couldn't pay it back, then you have done nothing wrong.
Circumstances have changed and you can prove that they changed after you took the loan, so I really think you have nothing to worry about.
I don't know your situation so I can't really comment on what the OR will think.
Keep posting, we're all here for you.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
| bados |
Posted - 14 March 2012 : 07:30:46
Hello Viki,
I have made contact with several companies and they have advised me to wait and see what the outcome of the meeting is, however if things get worse with my injury then they agree that i would need to apply for bankruptcy as i will have no disposable income even on part time hours, so i am clear on what i need to do depending on the outcome of my meeting following the ocupational health assesment. i hadnt taken out holiday insurance as i could not afford it at the time and cannot now due to my income problem my main concern was to ensure i paid back as much as possible to the loan company with the remaining loan. In saying that i have checked with numerous insurance companies and even if i were to have the relevant policy they would only issue a refund on medical grounds if i developed the condition after the booking was made. As this is a previous condition they will not refund it on that basis, it would appear the only was to get a refund through the insurance (if i even had a policy) in light of the above would be if a family member died and they're funeral happened to be the same day i was due to fly.
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| Viki.W |
Posted - 14 March 2012 : 07:11:47
Hi,
Have you spoken to an expert for advice yet?
Did you take holiday insurance? I'm not sure if it would pay out, but you could contact them and see?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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