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    HFC/TBI and charging orders- please help!
    • #1
    • 4th Dec 12, 1:45 PM
    HFC/TBI and charging orders- please help! 4th Dec 12 at 1:45 PM
    I took out a loan with HFC bank many years ago and due to unforeseen circumstances, I have been making pro-rata payments to TBI whom HFC sold the debt to, for some time. Every now and then, TBI have asked for a update on my financial situation which I have given them and I have just carried on with the repayments.

    Three years ago they threatened legal action as my payments were no where near enough what they wanted and the debt would not be cleared anytime soon. I currently owe 1330 and pay 5.00 a month. I have other creditors too. Nothing ever came of this.

    Back in the summer, TBI got back in touch and requested a new financial statement and to increase my payments. I offered to increase to 10.00 a month, to be reviewed again in 6 months as at that time,I was working more hours and completing a new I&E with the CAB so I would have been increasing the payments anyway.

    I never heard any more and forgot all about it,just still paying them 5.00 per month.

    Anyway, out of the blue this morning, I have received a letter from David Jones solicitor (on behalf of TBI they say,) stating they want the debt cleared in 3 years time or a voluntary charge to be signed by myself and dh for repayment of the sum against our property. They would agree to accept payments of 5.00 per month for 24 months and then to be reviewed if this was done. They advise me to seek legal advice. The other option is that they pass to debt on to external solicitors and obtain a CCJ, plus interest at 15%.

    I am absolutely frantic. They are giving me 28 days to give my proposals. They will not acknowledge my previous offer of 10.00 as they claim they didn't receive the letter.

    OMG, what do I do. I am due back at the CAB in January to review my repayments as I can again increase repayments and most my other creditors are fine. This will be over the 28 days time frame tho and CAB are not answering my calls.

    Please help me.
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