F
Falsers
Guest
Hi, just looking for some advice, I have an unsecured personal loan and due to illness then unemployment have been unable to meet my monthly commitments. An agreement was put in place whereby I would pay a sum each month that covered the interest. I have been meeting this payment each month. However, yesterday I received a letter from the bank stating I owe them x amount in arrears and if its not paid in full the loan will be passed to the debt collection agents seeking full payment.
Firstly, I didn't get the agreement in writing, just verbally. I have tried to contact the agent I was dealing with but so far haven't received a call back.
Secondly, if it passes to their debt collection agent what happens then? I simply don't have the amount of the loan to write them a cheque. SO what can they do?
Thanks for any feedback/info
Firstly, I didn't get the agreement in writing, just verbally. I have tried to contact the agent I was dealing with but so far haven't received a call back.
Secondly, if it passes to their debt collection agent what happens then? I simply don't have the amount of the loan to write them a cheque. SO what can they do?
Thanks for any feedback/info