Came home to scary letter from bank, please help!

littlepinkstars44

I am just home from uni, to find a letter from the bank of scotland, i cant quite understand it.
But it says something like default notice at the top, then says i have to pay £1050 by the 11th of November (impossible!) Otherwise i may be taken to court.

I am so scared right now, can someone please tell me what to do? I've never been in a position like this before?!

RAS

Hi

The bank are legally obliged to give you the opportunity to repay your whole debt to them before they are allowed to regsiter the default on your credit record.

They really really do not expect tyou to repay all the money.

What is the date on the letter?

littlepinkstars44

Really, so can i phone them like i was planning to and offer £10 a month towards it for the time being (till i pay off my storecards) then i can pay them £50 a month

It's dated the 13th of October.

whats a default?
Sorry ive never dealt with any of this before and i am so scared about having to go to court. I dont think i could

RAS

Hi

I would not phone them. Write formally to them with the offer instead, regsitered post. Given the problems, I think it would be wiser to pay less on the store cards if you can halt the default.

Legally they cannot take you to court until they issue a default. if you are making regualr payments, they may decide not to do that anyway.

And you would not necessarily have to go to court - although I do not know the Scottish system.

Make sure you tell them that you are a student and that you will be finishing this year.

Have you reclaimed any charges?

littlepinkstars44

I wont be finishing this year though, well i hope to stay on and do honors years, but i will see how i get on this year first.
I havent had any charges to claim back.

Are there any templete letters going around that i can use to send to them, i honeslty wouldn't know where to start with a letter

littlepinkstars44

anyone have a templete letter floating about?

black_taxi_2

write a financial statement of debt repayment

offer 105 payments of £10 a month.

if they refuse offer---they will have to explain in court why.

judge will look at your financial situation and say your offering repayment

black_taxi_2

heres a good site

http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

PARIS_5000

Is the default for a overdraft

Ames

The key word in the letter they sent you is 'may'. This means that they could take you to court, but given your circumstances probably wont - it'll cost them more and you wont be able to pay them more than you're offering anyway. You know that, the judge will see that, and the company know the judge will see that. So they're trying to scare you hoping you don't realise how strong your position is. If you just didn't want to pay but could afford to, that's different, but you're trying to find a solution, which is really in your favour.

Good luck with it all!

littlepinkstars44

PARIS_5000 wrote: »

Is the default for a overdraft

it was my old student overdraft