Quick (I hope) Question

Bubble16

If I have an outstanding debt which whilst it is mine it is not my fault it is an error on the part of the company I owe it to which neither of us realised until now. Am I entitled to pay by installments at a rate set by me - ie that I can afford, or a rate set by them which will mean baked beans featuring in my diet a lot more than they are currently??!! Thankyou

tyllwyd

I would guess that the only way to get a definitive answer on what you have to pay monthly would be for it to go to court and for a judge to make the decison. But that would be way over the top - the obvious first step would be to try negotiating with your creditor. Have you made them an offer?

methusala_2

difficult question to give a sensible answer on as we do not have any idea how much the debt is or how much you WANT to pay and how much the company want you to pay.
I would say pay them monthly what your able to pay without wrecking your life and leave the ball in their court. As long as your not offering a pittance like 10p per month then they are unlikely to go to court while you are paying a sensible ammount although they may pester you to pay more.