New poster with a question

neformore

Hi, new here, will go into my circumstances in detail another time, but right now I have a pressing issue that I need to address.

I was paying a company a small amount per month on two debts of approximately equal value, on an agreed plan. It appears that company has sold the debt on, and the payments were transferred to the new "owner", so I adjusted my standing orders accordingly and carried on with payment. There was no break in paying whatsoever.

That company is now threatening me with legal action if I don't conform to a full account review and submit a new proposal for payment - what are their rights on this issue?

My understanding (possibly misguided) is that if they are accepting payments already they cannot force a court judgement - am I wrong?

GeorgeUK

I think what they are wanting to do is look at your budget and debts to make sure thay are getting a fair share of your disposable income.

This may help
https://www.makesenseofcards.com/soacalc.html

The company is under no legal obligation to accept a repayment plan unless a CCJ has stated the amount of the repatyment. I believe it is at their discretion. Once you show the funds you have available as well as your other debts and what you are paying them, it would probably be in their interest to agree.

stapeley

When these companies start threatening it time to fight back . By all means carry on with the same payment but , I suggest you request a notice of assignment and a copy of the true signed credit agreement . If they can not provide these stop paying them .

neformore

thanks for the quick replies so far much appreciated. if any else has more to add then I'm all ears.