Banks and Robbery?

Question

I owe some money to a bank and have been paying them back like a good boy,I still owe them some money but due to bad health ect
we have moved to shelterd accomodation if we have nothing to buy food with ect even if they demand it what can they do.we have no assetts only small pensions to live on,Words that come to mind are blood ,stone.

Answer 1

You write to them and give them the facts. If they don't write the debt off and they should of course if they have no chance of getting the money then they will probably send a debt collector and you tell them the same thing. If that does not stop it they may take you to court and you tell the court who will probably make an order to pay an amount you can afford. i.e £1 a week or a month or something but you must at all stages have some evidence of your current situation

Answer 2

Discuss this with the Bank. Tell them your financial position. Ask for help from Citizens Advice Bureau.
At the end of the day any newspaper would love such a hard luck story so your ultimate deterent is that threat.
Offer no more than £1 per week with all interest being cancelled. Believe me they will go for it. I used to be a Banker until I got sick of the way we were expected to work. Dont blame the bank staff, they are paid a ridiculously low wage and the best have moved to shops where the pay is better. Most Banks have a starting salary of about £17,000 for MANAGERS !!!

Answer 3

sorry to hear you are having problems.. if the amount is owed is a big sum, my advice is to file for chapter 11...combine all bills you owe including the bank. with your income, i would write them a letter and list your expenses and the small income you have and offer a monthly payment of $5. or $10 per month until bill is paid in full. if that is not acceptable for them, then if they take you to court, you did make a offer to pay it back, and the court might be on your side. they can put a lien on a small pension if they push for it.. hope this helps...

Answer 4

Hi,sorry about your situation.The law in England says you can only pay what is left after food etc.Go & see citizens advice or offer bank 50p a week put it in writing & keep a copy that shows you are trying to pay them.They cannot do anything except county court you & the courts will rule in your favour.Good luck

Answer 5

Go see the Citizens Advice Bureau. I'm sure you can arrange for the debt to be either written-off or force them to accept £1 a month.

Answer 6

You need to speak to your bank and ask if you can restructure your payments. Explain your circumstances to them - it is their own interests to do this otherwise you will not be able to afford to pay them and they will lose out since you have no assets.
Restructuring will allow the payments to continue and earn them extra interest!!

Answer 7

it is illegal to leave a person in poverty they can repossess items of luxury such as a TV but they can not leave you in a state were your unable to feed yourself you will receive a bed credit rating over the debt although at this stage your better to advise the bank of your situation and they should leave you alone.

Answer 8

declare yourself bankrupt if you have nothing you have nothing to loose the debts will stop and you will get your pension to your self as long as you are only getting a state pension best bet to go to your local citizes advice bearu

Answer 9

Show them a revised budget plan to show how much you can now afford to pay, and make whatever payments you can afford.

Answer 10

You could try declaring bankrupcy. I think they have to write off your debts if you do that.