Help! letter from 1st Credit re Marbles debt

mary_mungo_+_midge

hi!
I have a self administered Dmp which has been running with no real problems since Feb last year.

I have a CC debt with Marbles for £6000 and have been paying £55 a month.

Got a letter a few days ago from 1st credit saying that it was due for full immediate repayment.

I sent off a CCA request yesterday by recorded post, but got a phone call at work today to say that 1st Credit have not bought the debt they are simply acting for Marbles and that Marbles will no longer accept a payment plan, they are pressing for full repayment via legal action if necessary.

I've asked to only correspond in writing in future, and have asked for my CCA before making any offer of payment.

I could just about raise £1000, no way could I pay back £6000, thats why I'm on a DMP.

What now?

Thanks x

RAS

Hi

You need to see that CCA.

it appears that you do not have a temination letter of default letter yet?

That may be what they mean by seeking repayment in full.

pepe2008

So far you are doing the right thing. Stick with it and dont get bullied by this lot.

mary_mungo_+_midge

Hi again,

RAS, sorry to sound ignorant, but what is a termination letter of default? and can they refuse to accept a payment plan, and go for the full amount through the courts?

Panicking more than a little now x

RAS

Hi

Termination letter is a demand for you to repay the full amount, Followed by the default letter because you have not. Often proceeds sale to a DCA but not always.

When you get them, remove all the personal details and post them here then pm 10past6.

And if they do go through the courts, providing you get the case transferred to your local court, most likely that you will end up paying what you are currently paying.

pepe2008

They have to Default the Account first ' you have failed to make agreed repayments of £x etc' that sort of thing ( but you've probably already had that if you are paying less than minimum by arrangement anyway.)
They can then Terminate the Agreement, asking for Full Repayment or arrangements to clear.( and then default that, whoops )
If it hits Court, as long as you have been true to the 'doing all I can to repay my debts fairly to all my Creditors' credo, then the Court will probably accept your current arrangements.
£55 per month is not unreasonable and, after a reasonable amount of bluster (threaten BR, Charging Order etc ) 1st will probably accept your arrangement without resorting to Court Action. They have recently been slapped by OFT for their behaviour in this http://www.oft.gov.uk/news/press/2009/20-09
and so seem to be a bit more 'ameniable' . Pepe

mary_mungo_+_midge

Thanks for your replies.

Basically, when I spoke to 1st credit on the phone, they said I could speak to Marbles and find out if the payment plan I was on has simply expired ( its now 12 months since it was set up) and if they would be happy to set it up again.

They said they have been instructed to accept no less than full payment but its not their debt, it still belongs to Marbles.

My minimum payments were £122 and I have been paying £52 for last year. I could probably stretch to paying £122 a month as I currently work all hours to save for F&F's.

Now do I do nothing until I have the CCA? Or ring Marbles with an offer of monthly payments and find out what they'd accept.

Haven't had any sort of default from Marbles at all yet.

Thanks x

mary_mungo_+_midge

just bumping for any advice on whether I should try and make a new payment plan with Marbles before getting an answer on the CCA x.

grastgirl

I think some creditors do renew things after 12 months when people are doing their dmp through cccs etc, so perhaps all they want is an up to date SOA, so they can see that you're paying all you can. Don't push yourself too hard though or you will come a cropper somewhere and that will be when it all falls over.

10past6

mary_mungo_+_midge wrote: »

just bumping for any advice on whether I should try and make a new payment plan with Marbles before getting an answer on the CCA x.

Have you had written confirmation this debt has been passed to 1st Cretins?

pepe2008

mary_mungo_+_midge wrote: »

just bumping for any advice on whether I should try and make a new payment plan with Marbles before getting an answer on the CCA x.

Continue to pay what you are currently paying. Don't fall for anything from 1st cretins.

Maybe try writing to Marbles? The story may NOT be as it seems.......we are talking 1st Cretins here