A bit of advice please

jase1422

Hi, I owe marlin 1800 and they said if i dont pay 300 per month they will issue a SD i have told them i can only afford 100 per month as any more and i wont have enough to get food and fuel, they are adamant that i have to pay 300, am i right in thinking if thet are demanding an amount it is obvious i cant afford they are breaking oft guidelines. If this is true is there anything i can do to get them to back off or get the SD set aside if they do issue it. Due to my job if i get a bankruptcy order i will be unemployed. and i have no way of borrowing the money to reduce the debt to below 750.
Thanks in advance

fatbelly

I am looking at a guidance sheet from a firm of solicitors that says 'the costs of persuing a bankruptcy petition through to final order are likely to be approx £1500 to £2500 plus VAT'

You owe £1800. Are they likely to risk more than that figure when they don't know whether you have any assets and any other debts that would dilute what they would get (as all creditors are treated equally in bankruptcy)?

If you can afford to pay £100 per month this clears the debt in 18 months. That's perfectly reasonable.

Could it be that they've gone down this route knowing either that the debt is statute barred or that there is no valid consumer Credit Act signed agreement?

I suspect there's more to this than meets the eye. Who did Marlin buy the debt from?