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Unsecured lending

didydave · 2008-12-12 17:19:48

Hi everyone I would like some advice. I have had some problems over the past few years and subsequently owe lots of money to credit cards and a defaulted loan. As none of these are secured so do these companys have the legal right to say that they will send bayliffs around to my house to remove goods or are they bluffing…

Comments

alfred64 Posts: 5,073 Forumite

13 December 2008 at 6:46PM

If he is paying back regularly this is good news even if it is a small amount.

His creditors are unlikely to proceed with court action, but even if they do, the court will take into account this fact and are unlikely to impose further penalty. They may even reduce the amount he is currently paying.

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