What should I do?

annnoble

Hi This is my situation and I hope someone can offer advice.

I took out a reconstruction loan for my business account over a year and a half ago, about £1500, I started making payments but due to lack of sales I haven't made any payments for a long time nearly a year! This means it just bounces into my business overdraft and pings straight out again not being paid, but charges are being incurred for the overdraft.

Now I haven't heard from them, I had a statement at the beginning of the year, but no default notice or any other contact.

Are they doing anything wrong? Can I use it to bargain to get rid of the debt?

I am still just bumping along the bottom with sales so still can't pay the full amount.

I feel like I should face up to this debt somehow or should I leave it alone?

Any advice or info would be gratefully received.

Thanks

ILW

Speak to them.
It is not going to go away, it will just keep getting worse.