Debts... An impossible request

[zeon]

Hello,
I had a phone call today from my ex landlord who lent me £10,000 to get on the property ladder... Now originally i signed a contract of repayments of £500 per month however this rate was forcing me to bankruptcy so i contacted my ex landlord and agreed a fixed rate of £200... Now today he tells me that he wants the remaining £6,400 paid in full immediately however i told him i cannot afford that and fighting through the skin of my teeth to survive... l told him i will try to get a loan as his landlady in his rented property wants him out... l think i am not legally obliged to pay the full amount back as we have a contract of agreement and like all contracts... They work both ways....

Whats your views?

Kindest regards

zeon x

p.s i have 4 loans already im paying off i cannot get another one to be honest

[Pix]

In my experience, landlords are constantly trying to do things that are illegal for them to do and it pays to challenge them in court or a lawyer (many will back down then, or if they don't then they lose the case and sometimes face even worse than they otherwise have when investigation catches them at other violations and tax evasions as well).

[ardus]

I'm not a lawyer, or solicitor as you guys call them over there, but from what you've said it sounds like you both agreed to a set payment schedule and to override that agreement would require both parties to agree to it. I would think. Maybe we a have a lawyer on here that could tell us more?
Richard

[mrk2010]

Maybe you should try negotiating further with him or maybe see how much longer he might be willing to hold out on you paying him. If possible you could contact your local citizens advice bureau and in some cases they can provide an intermediary to come up with an agreed term. Eventhough you signed a written contract you did say you were repaying him at a lower rate. Did you sign for a new rate? In my view I think he is being very harsh for asking for so much money in such a small space of time. Whatever you do please don't file for bankruptcy it can really effect future options, I remember watching on This Morning there is a way you kind of postpone / consoladate paying unreasonable bills / sums like your landward is asking but it involves signing a new agreement / terms but you are also able to change the amount you pay back. Cant remember what its called though. As for debts I have £25,000 worth of uni to pay for, I hope things get better for you and that your land lord will be more understanding.

[Bowyn Aerrow]

Verbal or written agreement?

If its verbal its much harder to take before a court, most courts would start fresh and devise a sensible payment plan.

If it was written with a clause that states he has the ability to call all owed in, you may actually be screwed.

Of course he maybe as well, as the old saying goes, 'can't get blood out of a turnip'.

If you have signed a contract, pull it out and read it carefully. See if it allows him to call in the whole debt.

[oldster]

depends how the contract reads lots have a demand claus that allows the balance on demand of course this is in small print
but they usaly say that standard but they would never do that it's just normaly required by bank,loan company or some other reason so read te papers carefully if thats not there or something simular then your right you just keep paring on modified aagreement
but remember to read the modified part of agreement usally when they reduce the payments that part is added and you are so happy it is reduced you may not even red small print you may wish if something you dont understand to have a solisiter or what ever the correct name would be to look over the agreement
there aree clinics and lots low cost resorces bbut be sure they arnt just out for your money i dont know if suregets lawyers are allowed there good luck