debt is a bank loan
2007-02-12 18:47:57 · 23 answers · asked by spurs11@btinternet.com 1 in Pregnancy & Parenting ➔ Pregnancy
Her giving birth has nothing to do with what happens to her debt.
The bank will go after any assets she may have.
2007-02-12 18:50:25 · answer #1 · answered by Anonymous · 7⤊ 0⤋
Banks will always want their money - and they would also rather get that money from you than end up going to court to get it.
She needs to make an appointment at the bank, to discuss perhaps another payment plan. Phoning isnt much use, its better to get to talk with the bank's manager as they can authorise things the call centres cannot.
Beleive it or not banks are usually helpful in these kind of situations and hopefully will be able to arrange something you can afford.
But if its a secured loan - and you dont do anything, she'll lose the house.
2007-02-12 21:15:55 · answer #2 · answered by xxangel_allyssaxx 2 · 0⤊ 0⤋
Ask her if she took out loan protection? If she did she can claim on this as I'm guessing she's having trouble because of the reduced maternity pay/earnings.
If she hasn't then there's nothing really she can do other than ringing up the bank and asking if they can help in anyway (some banks offer some help and advice for these situations), otherwise it's doing what she can to get it paid or risk having her property reprocessed.
I hope everything works out.
2007-02-12 22:06:10 · answer #3 · answered by Bugs 3 · 0⤊ 0⤋
Just ring your bank and talk to them. I found out I was pregnant just after deciding to change jobs, how unfortunate timing?? I ended up unemployed with a loan. My bank were great, the sooner you contact them when realise you have a problem, the nicer they are. You're best to go into your branch, telephone banking people are not allowed to be as flexible. Take all your incomings and outgoings etc and you'll be fine. And if your bank is not helpful, as some aren't, tell them you're going to citizens advice and going to sort out your credit with them and just pay minimal payments to everybody. This will probably scare your bank into helping you. If they're still horrible, actually do go the citizens advice website and do the whole form thing. It's legal and a better option than bankruptcy - still upsets your credit record but quicker to work back from it.
2007-02-12 19:02:15 · answer #4 · answered by lilbabyadam 2 · 1⤊ 0⤋
Hi there! I would make a budget plan and send it to all creditors, then they know that you both cannot realistically pay back the money at present. As long as you contact them and send a monthly budget it is unlikely they will proceed further action, they will probably put the account on hold. Try the CCCS website they are a charity company for people with debt. They can actually send you a budget to send off. They will give you a reference number which you can pass on to your creditors which again will make it look as though you are trying to sort your finances out! Good Luck but dont worry... Its only money!!
2007-02-12 19:32:33 · answer #5 · answered by Conkys Mummy 2 · 0⤊ 0⤋
nothing, gotta pay the loan. i am sure that the loan didn't say that you had to make monthly payments till she had children, if that were the case i am sure that some people would consider having babies to get out of repaying a loan! if she doesn't pay the loan, it will go into default. if she had any collateral that she put up for the loan, that can be taken for payment. if the collateral is a car, the bank will do the necessary work to take possession of it. then they will auction it off and sue her for the remaining amount.
2007-02-12 18:55:26 · answer #6 · answered by liz 3 · 1⤊ 0⤋
Not the answer you want but they stay the same as before she gave birth!! Maybe it might be worth contacting whoever the loan is with a trying to come to some agreement? Or go to Citizens Advice Bureau. Best to contact them sooner rather than later
2007-02-12 23:00:13 · answer #7 · answered by Anonymous · 0⤊ 0⤋
All of the above answers! Debt is debt and has to be repaid. Get in touch with the bank and come to a mutual agreement.
2007-02-12 20:34:00 · answer #8 · answered by wee stoater 4 · 0⤊ 0⤋
having a baby has nothing to do with her debts she will still have to pay them, if she can not pay it at the rate she should pay then i would suggest either speaking to the creditors involved explaining about her circumstances and they might come to some arrangement where she can pay less per month, other than this i would speak to the citizens advice bureau who may be able to negotiate with the creditors on her behalf to get the payment lowered
2007-02-12 19:28:25 · answer #9 · answered by tracy w 3 · 1⤊ 0⤋
What's having a baby got to do with it? She still owes the money. The bank will likely repo whatever it was that was used for collateral against the loan.
2007-02-12 18:51:18 · answer #10 · answered by Jadalina 5 · 3⤊ 0⤋