Advice Required

Barney_McGrew

Hi, I am currently paying back all my debts either through a DMP with CCCS or with 'Time To Pay Directions' after 3 of my creditors started legal proceedings.

One of those who obtained an Extract Decree was Clydesdale Bank and we came to an agreement outwith court that I would pay back the outstanding amount and court costs at £58 per month. There was no mention of any interest.

A few months later I received information telling me this had now been passed to a company called Marlin Financial Services and I would now be paying them. I presume they are entitled to do this even though we came to an agreement outwith court?

There was no mention of any interest being added to my account until I received a letter today offering me the chance of a full and final settlement since the debt i owe is increasing due to interest. Are they entitled to start charging interest? I am being charged £1.41 per day in interest so how can my debt be increasing when Im paying £58 per month.

If they have done everything by the book would my best course of action be to try and add them to my DMP and hope they freeze the interest?

For your information I live in Scotland.

Thanks

clang_uk

I think the best thing to do is to contact the bank and ask them what they are playing at, you made an agreement with them. If they want someone else to take the money than that's fine but they have to agree to the same conditions the bank did. I'm not sure about debt companies charging interest, as I've heard a few conflicting things, but someone else will give you more details soon.