I have lost my job and am now on anti-depressants. Knowing money would be a struggle, I went to see my bank to ask if I could reduce the loan payment or extend the loan period as I still want to face up to the responsibility of my loan but obviously can't afford the pay back I have at the moment.
I was told I needed to default on the loan first and then they would reduce payment for 6 months then I would have to double the amount I normally pay (which I wouldnt be able to afford even if I was working) and because I had defaulted they would stop my banking facilities etc.
Please can someone help, is there anything else I can do,
I don't want to default and I certainly don't want the rest of it, all I want to do is take the loan payment down to a managable amount while I am not working.
Thanks.
I was told I needed to default on the loan first and then they would reduce payment for 6 months then I would have to double the amount I normally pay (which I wouldnt be able to afford even if I was working) and because I had defaulted they would stop my banking facilities etc.
Please can someone help, is there anything else I can do,
I don't want to default and I certainly don't want the rest of it, all I want to do is take the loan payment down to a managable amount while I am not working.
Thanks.