Going to court for redetermination

denverDOG

Going to court for redetermination in respect of cc outstanding balance of £7500, i am keen to know what is the best/worst payment judgment we can hope for, at the moment we are level pegging with all our important bills,and have no luxury's.
Without our credit card dept life would be OK.:beer:

Geebee

Hi denverDOG, i really have no experience on these matters but a little bump might help someone else to see and reply to this.

As i understand it, you have little spare cash as it is, and the court cant take what you havent got so i cant see them ordering you to pay vast amounts that you just cant afford. Any sum of money would, i imagine, have to be a realistic amount that you can stick to.
There would be little point in ordering you to pay something that a couple of months down the line you havent been able keep up with and so end up back in Court again. Or maybe i am just being naive?.. hopefully someone can help you on this.

Good luck.. GB

DarkConvict

The court cannot take what you do not have, the CCJ will be awarded for any spare cash that you have.

Ensure you have the courts budget sheet filled out, and whilst not required do bring proof with you that this is all you can afford, a few bank statements, utility bills etc and show how you worked out how much you can actually pay to the creditor.

The thing to be careful of is that a debt of £1500 or more is enough for a creditor to apply for bankruptcy. So if you have other assets or are a home home owner, the debt may become secured against your assets if you are unable to make decent payments in the eyes of the creditor. it does cost the creditor money to get these court orders setup though.

denverDOG

Thanks for your advise GeeBee, as i am sure you can see i am trying to collate as much info and knowledge in how best to deal with dept situation,i find cc firms attitude hard to deal with I'm sure they are oblivious to the current economic climate.