Stopping wage deductions

[themolsshow]

Hi,

I have a few things coming off my wage each week one is to commsave for £88 which was fine in the last 6 months but my landlord has put up my rent from next month so told commsave they ain't interested . I asked if I could reduce my payments and extend the loan period they said no !! I don't know what else I can do other than stop the deduction through the wages department of I can ?? I am willing to pay a lesser amount but they won't accept !! Any help or advice what I should do ?? Thanks

[Lincox]

Put your difficulties in writing to Commsave and ask if they will rejig your loan, or if not whether it is possible to take out a new loan over an extended period and the new money to pay off the existing loan. If not, then there are other things available which you can look at subject to your credit rating. Things such as 0% credit cards that allow you to transfer money into your bank account (normally a charge of between 2% and 5% on the full amount but from then on 0% over a fixed term).

[themolsshow]

Put your difficulties in writing to Commsave and ask if they will rejig your loan, or if not whether it is possible to take out a new loan over an extended period and the new money to pay off the existing loan. If not, then there are other things available which you can look at subject to your credit rating. Things such as 0% credit cards that allow you to transfer money into your bank account (normally a charge of between 2% and 5% on the full amount but from then on 0% over a fixed term).

Hi thanks I have already contacted commsave in writing twice now they will not move . I have no option but to pull the plug on it I think and offer to pay them what I can afford that way ? I'm not sure if I can do this though if I call wages and tell them to stop the payment ??

[arnold cheshire]

Put your difficulties in writing to Commsave and ask if they will rejig your loan, or if not whether it is possible to take out a new loan over an extended period and the new money to pay off the existing loan. If not, then there are other things available which you can look at subject to your credit rating. Things such as 0% credit cards that allow you to transfer money into your bank account (normally a charge of between 2% and 5% on the full amount but from then on 0% over a fixed term).

Hi thanks I have already contacted commsave in writing twice now they will not move . I have no option but to pull the plug on it I think and offer to pay them what I can afford that way ? I'm not sure if I can do this though if I call wages and tell them to stop the payment ??

wages wont stop payments to these credit unions

[maximus12]

I don't think you will get the payment stopped, you took out the loan so it's got to be paid back. Maybe take out a new loan from someone else on a longer term to pay off the commsave one. Obviously this will cost more in the long term.

[gluteus maximus]

Unbelievable advice advocating taking out new loans etc.

What you need to do is contact this government controlled organisation. It will cost you nothing, a big fat 0 and they will contact them on your behalf. They will make sure priority debts are paid first. You pay payplan, they pay the creditor by affordable instalments

http://www.google.co.uk/aclk?sa=l&ai=Cb ... an&cad=rja" onclick="window.open(this.href);return false;

Wages have to stop payments if given express instruction from the employee in writing. Payplan will tell you to do that. Make sure you advise them that you have stopped payments. The only exception will be it an attachment or earnings has been applied such as a CCJ or CSA

[korky]

pretty sure if you did manage to stop the wage attachment it would probably put a nasty mark on your credit score.

its a viscous circle robbing peter to pay paul, can you get a bit extra overtime? 1 hour a day would soon add up

[gluteus maximus]

pretty sure if you did manage to stop the wage attachment it would probably put a nasty mark on your credit score.

its a viscous circle robbing peter to pay paul, can you get a bit extra overtime? 1 hour a day would soon add up

No it will not, your credit file will be updated with "Arrangement to pay" each month until his circumstances improve and he can continue with the contractual obligation. That is better than having a default registered for a period of six years. Arrangements to pay are normally temporary for either 3 or 6 months where token payments are made to stop the account being terminated

[Lincox]

Unbelievable advice advocating taking out new loans etc.

What you need to do is contact this government controlled organisation. It will cost you nothing, a big fat 0 and they will contact them on your behalf. They will make sure priority debts are paid first. You pay payplan, they pay the creditor by affordable instalments

http://www.google.co.uk/aclk?sa=l&ai=Cb ... an&cad=rja" onclick="window.open(this.href);return false;

Wages have to stop payments if given express instruction from the employee in writing. Payplan will tell you to do that. Make sure you advise them that you have stopped payments. The only exception will be it an attachment or earnings has been applied such as a CCJ or CSA

It is not unbelievable advice if it allows him to pay his debt over an extended period and be able to afford his increased rent payments. I am not advocating pay day loans or the likes whereby he would be crippled by ridiculous interest rates. Quote from Payplan Debt Payment Plan . And, although your regular repayments may be lower, your repayment period could be longer and the total amount payable higher. So is what you are advocating any different.

[gluteus maximus]

yes i am, Payplan will freeze the interest so you are only paying off the capital, or reduced payments. They will make sure priority debts such as rent, council tax etc are paid first. They will never advocate taking out another loan

[Lincox]

Of course they wont because effectively that is what you are doing with them by taking one of their Payment Plans which on their own admission may cost you more money in the long run.

[Lounge Lizard]

Rowland Hill Fund ?
http://www.rowlandhillfund.org/" onclick="window.open(this.href);return false;

[korky]

Rowland Hill Fund ?
http://www.rowlandhillfund.org/" onclick="window.open(this.href);return false;

may struggle to get help from there, they usually are for cases involving illness etc.

this all depends on how long have you got left to run on your commsave loan, and you definitely won't need another when finished,

not ideal, but tesco doing a 12 month 0% on purchases card (if you are eligible) obviously this only works if you have around 6-8 months left on your loan,

for instance, your rent goes up £10 p/w or whatever its going to, just spend that amount you would normally spend on food/petrol on the interest free card and make the minimum payment, which on around £40/£50 p/m shouldn't be much, even if £300 owing in 6 months

you should then already have a bit of money in your commsave savings account to pay some of the credit card off, and if possible grab overtime and pay that on to your balance too,
when your commsave loan is cleared you will be £88 p/w better off, which should give plenty of time to pay the rest off before you start been charged interest.

i did similar to this last year when rowland hill turned me down for help with my dads funeral costs,
just got a £1000 commsave loan paid off, the card i used is clear & cut in half and still have around £150 savings with commsave.

again, the simplest and best way out is overtime if you can get it.

[Theghost]

I find commsave pretty disgusting to be honest,As a Credit union are they not supposed to do a thorough check that you can afford a payment like £88 per week?

Its £352 per Month,Basically you are turning over to them 30% of your Takehome pay per month.

Credit unions are supposed to be there to help people who have struggling in the past to get back on their feet and give small affordable loans if needed,Also help with savings plan for bill payments,They are offering these loans out freely,The only difference is the rates are low,Making them look reasonable,But when help is needed they don't give it,On par with provident etc,Except lower rates.

Quite a few lads in my office are on their arse through getting easy loans through commsave,When they ask for help in extending the agreement,They don't want to know,1 lad is paying £130 per week in my office,It leaves him with a take home net pay of £150,How is this responsible lending by commsave?

Don't get me wrong,If you take the cash it needs to be paid back,But the care for welfare of people is non existant,Royal mail seriously need to address this issue.
They are handing out Loans to desperate people who cannot afford to pay them back,Fact.