what happens if I cant pay back a loan? I had a loan out with ptsb and the repayments were 120e a month. ive been struggling with it and owe over 1k in arrears. They told me to pay 50e a month for 3 months, I have done so for 4 months and they said they would then freeze the interest. I rang them as I had not heard anything,and they sent me one of those statement of means forms.
I don't know if I have to post this back in order for them to deal with me. Why cant they just accept 50 per month off the capital and stop the interest as they said they would?
If I do send the form back and they decline ,what are my options?
I am not refusing to pay anything,but I cant keep paying 50e a month unless its reducing the balance.
What could happen if I stop paying? They have already listed me on ICB after I missed one payment.?
Can anyone advise me? Cheers.
I don't know if I have to post this back in order for them to deal with me. Why cant they just accept 50 per month off the capital and stop the interest as they said they would?
If I do send the form back and they decline ,what are my options?
I am not refusing to pay anything,but I cant keep paying 50e a month unless its reducing the balance.
What could happen if I stop paying? They have already listed me on ICB after I missed one payment.?
Can anyone advise me? Cheers.