intelligent finance loan

craigh242000

i have a loan for just over £10000,i lost my job and couldnt afford to pay my loan commitments,to cut a long story short,i am currently paying £50 a month to blair oliver and scott,i had a phone call today saying i need to increase this to £100 pm,because i have arrears on my account of £290.i said yes to this,but have looked at my finances and just cant afford this,i tried ringing them to explain but they wasnt intrested.i also had a letter today saying if i dont contact them within seven days,courts will be involved and a order on my house to sell it so they can have there money,any help would be grateful ,i am very worried at the minute

craigh242000

can anyone please help me

insider66

hi there

the county court, where BOS are threatening to go, cannot make an order to sell your house.
these are simply scare tactics, please don't worry.
Stick to your guns at 50 and continue making this payment even if BOS say it's not enough.

The worst the county court will do is make a judgement for you to continue paying this amount....

good luck

Jesthar

Blair, Annabel and Scott are debt collectors, right? If so, this sounds like a standard 'scare tactic' approach to get more money. Just keep on paying the £50 for now, as if it comes to a court case they you have solid proof you have been trying to pay the debt.

Might also help if you can post up an SoA for people to take a lok at, see if we can help with saving you some money - link is here:

http://www.makesenseofcards.com/soacalc.html

Hope that helps,

~Jes

craigh242000

so if i just pay £50 instead of £100 i will be alright i dont realyy want to go to court,even if it takes me 10 years to pay it off

insider66

Blair Oliver and Scott are debt collectors, in fact a part of HBOS

BOS - Bank of Scotland - get it?

insider66

craigh,

you will, if BOS do go to court, at least have to fill in an income and expenditure form when asked by the court, you don't need to go in person.
Advice on income and expenditure forms can be found on this site

cheers

Debt_Free_Chick

insider66 wrote: »

The worst the county court will do is make a judgement for you to continue paying this amount....

But - unfortunately - if they get an order for "payment forthwith" and the full amount is not settled within 28 days, then they go back to Court for a Charging Order. Whilst this doesn't force the sale of the property, it does convert an unsecured loan to what is effectively a secured loan.

More and more lenders are doing this, although Egg are streets ahead, having been doing this for years.

A good chance that you'll get an order to pay by instalments, but it's by no means guaranteed.

insider66

Maybe this will help -


http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/CourtClaimsAndBankruptcy/DG_10013083


http://www.adviceguide.org.uk/d_what_happens_if_you_are_taken_to_court_for_money_you_owe.pdf


I agree, a charging order is a possibility, but if the debt is being paid off, it will eventually be cleared and then the charging order will be gone

insider66

Has anyboby ever heard of a county court judge not allowing payments by instalments when a debtor has had a change of circumstances like this??

insider66

This is copied from the website posted previously, and is from the direct.gov.uk website

If you get a letter telling you someone is making a County Court Claim saying you owe them money, don't be alarmed. The Court will decide whether you have a debt to pay - and if so, how you should repay it - in a way that's fair to everyone.