Issued a Default Notice

dyl003

Early last week I received a letter from TBI Financial Services which is a Default Notice Section 87(1) of the Consumer Credit Act 1974.

It states I am in breach of the provision in the credit agreement which specifies that you will make monthly payments on the dates prescribed in the credit agreement.

You have failed to make the payments as specified and are required to take the following action to remedy the breach:

Pay the total outstanding balance of £1569.24 before the 30th October 2008.

If the action required by this notice is taken before the date shown no further action will be taken in respect of the breach.

This is from a very old loan which I had an agreement going back maybe 10 years to pay £12 per month. A few months ago they failed to send me a new paying in book, but posted out a standing order form a week or so later. I have just forgotten to fill this in and post it back to them. I have received no other warning or phone call asking for form or missed payments.

What should I do next? Do I call TBI? I do not have the money to pay this.
Is this order now fully isued against me?

Thanks

poorandindenial

Hi there

The OFT (Office of Fair Trading) suggest that you contact one of these groups if you get a notice

http://www.moneysavingexpert.com/loans/debt-help-plan#help

(and a link to the OFT factsheet that sas this: http://www.oft.gov.uk/shared_oft/consumer_leaflets/credit/oft966a.pdf)