Bank Loans - reducing monthly payments ?

[encounter150]

Has anyone talked to HSBC or any other bank about reducing their monthly payments on a Proff Studies Loan ?
I can go overseas and work as a pilot but wont earn enough to live and pay the current monthly repayments just wondered if anyone had looked into this ?
cheers

[Celtic Pilot]

dont know if this can happen but could you not extend the repayment period to reduce the montly repayments... in the long term you will pay more back due to interest and they may have some sort of penalty..

I just applied for that loan to go to cabair... High repayments indeed....

Have you talked to HSBC about it yet???

[Rob82]

When my repayments were due to start to HSBC (6 months after finishing Cabair), i wasn't in any position to pay the full amout as only had a job to get by while looking for an airline position.

I went into my local branch and they contacted the MK branch as this is where all the loans for Cabair are managed. They let me pay £250 for 6 months to get myself sorted. Luckily i got a job and managed to start paying the full amount after the 6 months.

Not sure where you would stand reducing the payments indefinately but short term maybe.

Best bet is to go to your nearest HSBC and sit down and have a chat with them.

Also i remember a condition of the loan / repayments that you had to be a permanent resident in the UK so not sure where they would stand if you went abroad.

Hope this helps

Rob

[Rusty_207]

With that kind of attitude your name says it all

[Celtic Pilot]

here here.... Wannabe 24... If you actually took the time to read closer you will notice that he said that " luckily I got a job and was then able to start paying of the full amount"""

Pay more attention rather than dishing out grief.... PLEASE!!!!!!