debt question ....

paulyoung666

Distinguished Member
..... I have a small debt from a couple of years ago (£900) for job training , I acknowledge the debt 100% and have been paying it off at £5 / month , now the company that I am paying the debt to are along for an income / outgoings form to see if I can afford to pay more , I can but I don't want to , can they force me or not ? ...
 

Trollslayer

Distinguished Member
15 years to pay off a £900 debt and you say that you can afford to pay more?
I can see why they would chase you.
 

Desmo

Distinguished Member
To be honest, I'd want more too. If you can afford to as you have said, pay it off faster and get it out of the way.


Can they force you to? I think they'd have to take it to court and it may not be worth their while.
 

paulyoung666

Distinguished Member
If you owe them the money , can afford to pay it off sooner , why don't you do the honourable thing and pay them the money their owed sooner?
Now , if the debt was for something other than this I most likely would do that , however after the way I and others were treat and are still being treat by this company I will take as long as I possibly can over it , what they do is a hair away from illegal but legal it is , any other responses people ...
 

blue max

Distinguished Member
Now , if the debt was for something other than this I most likely would do that , however after the way I and others were treat and are still being treat by this company I will take as long as I possibly can over it , what they do is a hair away from illegal but legal it is , any other responses people ...
But you said this "I acknowledge the debt 100%". And now you are virtually calling them crooks. If you had an argument about the services received, that would have been the point to complain.

Depending on what you signed (if you did), they are likely to be adding interest or putting the debt into the hands of a debt collector. £5 a month is almost a pointless gesture.
 

danmc_82

Distinguished Member
Now , if the debt was for something other than this I most likely would do that , however after the way I and others were treat and are still being treat by this company I will take as long as I possibly can over it , what they do is a hair away from illegal but legal it is , any other responses people ...
When I got into debt in my teens (about same as you) I paid them £20 a month even though I could afford more.

I can see why your doing it as you don't miss £5 + your still paying your debt.

I'd tell them that you can now afford £10/month.

Its up to you how much you can afford.
 

garts76

Well-known Member
Now , if the debt was for something other than this I most likely would do that , however after the way I and others were treat and are still being treat by this company I will take as long as I possibly can over it , what they do is a hair away from illegal but legal it is , any other responses people ...
My response is pay up, no wonder they are treating you bad.
 

Miss Mandy

Moderator
How long ago did they accept the fiver a month? Any company I've dealt with for debt has only accepted a low payment on the proviso its reviewed every 3/6/12 months.
Personally I'd be wanting to pay things off in a lot less than 15 years so if I could afford to pay more, I definitely would.
 

paulyoung666

Distinguished Member
Approx 18 months ago , as far as I can tell it has had no impact on my ability to get reasonable credit ...
 

Miss Mandy

Moderator
The longer it drags on though, the more impact it will have. And if they decide to sell it on to a debt collection company that'll be a big black mark on your credit file, an increase in the debt amount, and a whole load of hassle from the new debt owner.
 

Miss Mandy

Moderator
Ah, ok, I thought it was still with the original debtor.
The issue here then is that if the debt company want you to pay more and you can't reach an agreement on that figure, the next step for them is taking it to court and getting a CCJ against you, that will have a massive impact on your credit rating for a long time so you really don't want it getting to that stage. It'll be on your file for 5 years I think and is a big no, no for most finance providers if you need credit of any sort in the future.
All the companies costs can be added to the debt along with the court costs, and you have to abide by the courts decision on how they decide it should be repaid. The court can even send bailiffs round to repossess goods for settling the debt.
 

Ruperts slippers

Distinguished Member
I can understand in part why your dragging it out, but i think if you can afford it pay it off, draw a line under it and close that chapter...

If you can't afford an extra increase, fill the income expenditure forms in with the current or new offer, ccj's can be suspended or you can appeal etc, etc...To be honest i don't think it'll go that far...
 

The Dark Horse

Well-known Member
Tell them you have reviewed it and have decided you can no longer afford £5 and suggest lowering your payment to £2.50 a month, lol.
 

DarenD

Well-known Member
Cancel the direct debit and tell them to go jump. Its a civil debt so they gonna have to chase you for the rest (not worth their while) In 6 years time aslong as you have had zero contact with them since, the debt will become statuted barred and you wont have to pay a penny :smashin:

Gonna run for cover now :D
 

Desmo

Distinguished Member
Have you ever been owed money? It's not a great feeling when people won't pay what they owe, even when you're being reasonable with payment terms.
 

cram

Novice Member
Cancel the direct debit and tell them to go jump. Its a civil debt so they gonna have to chase you for the rest (not worth their while) In 6 years time aslong as you have had zero contact with them since, the debt will become statuted barred and you wont have to pay a penny :smashin:

Gonna run for cover now :D
:rolleyes:

The debt is already with a debt recovery company who would presumably specialise in chasing debts. Assuming this hasn't already gone the way of the small claim courts taking someone to court is trivially easy. The op has already acknowledged the debt and if I was him I would get it paid off as quickly as possible, chalk it up to experience and move on.
 

paulyoung666

Distinguished Member
It is a matter of principle for me though after the way I was treat , I haven't defaulted on the debt and they agreed to accept the £5/ month , as they have done this do they have the right to ask for it to be paid off quicker , that is the question I need an answer to ...
 

sophies hero

Active Member
paulyoung666 said:
It is a matter of principle for me though after the way I was treat , I haven't defaulted on the debt and they agreed to accept the £5/ month , as they have done this do they have the right to ask for it to be paid off quicker , that is the question I need an answer to ...
I think they have the right to ask about your financial situation, they are after all agreeing to let you pay a small amount of money per month instead of the full debt, as long as your in contact with them and making an offer to repay an amount i think theres jack they can do about it because if they took you to court and you've said u can only afford £5 a month (and u show that on paper) it can't be ruled that u should be financially crippled just to pay it quicker when your already showing willing and making repayments
 

amkhan

Member
How you were treated is irrelevant insofar as your debt is concerned. You owe money, man up and pay it (to the best of your financial ability).

You might not what I say, but the truth is they are not stealing from you, you owe money and have an obligation to pay it back. If the shoe was on the other foot, how would you feel?.

If you have reason to be awkward then by all means take action in any other capacity (as appropriate), but pay what you owe, as stated above you can draw a line under this whole matter.

You've said you can afford more, so you should pay more. You took their money and are now playing hard ball when paying back, that's how I see it.

@sophies hero.. He said he CAN pay more.
 
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blue max

Distinguished Member
It is a matter of principle for me though after the way I was treat , I haven't defaulted on the debt and they agreed to accept the £5/ month , as they have done this do they have the right to ask for it to be paid off quicker , that is the question I need an answer to ...
That is surely down to how and to whom you made the agreement. If it was just verbal, you may not have a leg to stand on. I can only assume they agreed such a low amount for a reason or it doesn't make sense. Perhaps you said you had no employment? I don't know, but without full details, any advice would likely be flawed. Just don't fight debt collectors as they are going to be using your money to fight you back. Good luck.
 

Miss Mandy

Moderator
paulyoung666 said:
It is a matter of principle for me though after the way I was treat , I haven't defaulted on the debt and they agreed to accept the £5/ month , as they have done this do they have the right to ask for it to be paid off quicker , that is the question I need an answer to ...
There is no point of principal here though, if the debt is now with a debt collection company they will have bought it from the original company that you have issues with. The original company have nothing to do with this now and will have been paid for the debt by the collection company.
That means that the only person you're hurting here is yourself.
Do they have the right to ask for it to be paid quicker? Yes, they do.
 

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