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Token payment agreed for £0.00??
Katerose_2
Posts: 18 Forumite
Hi,
after sending out up to date financial statements to all our creditors and offering them token payments of £1 a month, most have been agreed. Lloyds TSB being one of them, sent us a letter this morning, and it says:
"Dear Mr XXXXXX,
RE Account number XXXXXXXX
Your offer of £0.00 has been accepted for a period of 6 months at which time the arrangement will be reviewed, unless the debt is fully repaid earlier. The first payment should be made within 30 days of the date on this letter.
A book of paying in slips will be sent in the next 7-10 days. These can ve used at any branch of Lloyds TSB free of charge. Alternatively, you may send payments direct to ourselves which must be accompanied with a payment slip.
"
Legally where do we stand if we do not make any payments? We offered £1 a month but they have put in writing to us that they have accepted our offer of £0.00. So what should we do?
after sending out up to date financial statements to all our creditors and offering them token payments of £1 a month, most have been agreed. Lloyds TSB being one of them, sent us a letter this morning, and it says:
"Dear Mr XXXXXX,
RE Account number XXXXXXXX
Your offer of £0.00 has been accepted for a period of 6 months at which time the arrangement will be reviewed, unless the debt is fully repaid earlier. The first payment should be made within 30 days of the date on this letter.
A book of paying in slips will be sent in the next 7-10 days. These can ve used at any branch of Lloyds TSB free of charge. Alternatively, you may send payments direct to ourselves which must be accompanied with a payment slip.
"
Legally where do we stand if we do not make any payments? We offered £1 a month but they have put in writing to us that they have accepted our offer of £0.00. So what should we do?
0
Comments
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Do you have a previous letter from them suggesting £1? Or anything you've sent to them saying £1?
For that small amount I'd be tempted to pay it - but as for the legal angle, I can't help, sorry.0 -
Hi Kate :hello:
Welcome to the forum, personally for a £1.00 it wouldn't be worth the hassle it may create, if it was a larger amount it may be worth challenging.Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0 -
Hi Kate :hello:
Welcome to the forum, personally for a £1.00 it wouldn't be worth the hassle it may create, if it was a larger amount it may be worth challenging.
Hi,
yes I agree, my husband says we should not pay as it's their error, but for the sake of £6 I don't think it's worth the hassle either!
Thanks0 -
Not paying looks bad to a court should the situation ever end up there, I'd just pay the £1.No longer using this account for new posts from 20130
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I don't have any real experience... but, maybe in 6 months when they come to review it and they see you've not paid anything, they might think it was you being awkward?? Rather than seeing it was their mistake?! Good luck with it though!! xLBM April Fools day 2008 - £20,345 debt!!! _pale_Current Debt NOTHING!! - DFD - June 2009 - [STRIKE]I'm emigrating!! [/STRIKE] :j I've emigrated!! :jOfficial DFW Nerd Club - Member no. 949!0
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Id pay it, but they are muppets arent they? lolIn Jan 2007 I had a debt of £27,896.00 :eek:In October 2011 I paid it off and owned £0.00 - Kinda proud of this!:T0
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