Ignoring demanding letters coz I've written offering token payment - is this ok?

Mics_chick

I contacted all my debtors about 2 months ago informing them of my situation enclosing a budget and a list of debtors.

I've only contacted them since then to try and get them to stop calling me so often which has worked - mostly

But I'm still constantly getting letters from them demanding more money or saying they can only comtemplate freezing interest, etc if I pay 0.5/1% of the balance which I definitely can not afford so I just ignore them.

Even though I can't think of anything that I can do to change the situation with them I'm still wondering if there's anything I could be doing....?

Anyone got anything to say?

saltnvinegar

Mics_chick wrote: »

Anyone got anything to say?

Nothing except well done you for sorting things on your own and keep perservering!!

You have 2 choices regards the ones who are not freezing interest:

1) Just keep paying them accepting the fact that you can only pay what you can afford. Sooner or later the creditor will know this too and after a period of time when they realise the only way they may get their money back is to take you to court (risky as the judgement may freeze interest and you may only be asked to pay what you are anyway or they will offer a settlement figure to clear the debt which you may then be in a position to afford

2) Push the situation and state that as your payments are doing nothing to reduce the outstanding balance due to their decision to not freeze interest that you see no benefit in paying them anything at all.

Choice 2 is obviously higher risk as you may find they will then decide to take you to court.

Personally I think you have a little time on your hands if your creditors only have been aware of your arrangement for a couple of months.

I would suggest going for option 1 and state that the rest of your creditors have agreed to freeze interest and charges and you hope that they will reconsider their decision.

Keep plugging away and you'll get there!

SnV

chuckley

they only listen when you repeat yourself. most will listen after your first letter, however the DOGS will totally ignore it and send letters day after day, threatening action. repeat the letters stating you informed them on letter dated 'xxx', and leave it at that. eventually they will calm down when they realise they cant bully more out of you.

if they cant/wont freeze interest still pay what you said you can afford. you never know after a couple months they may just freeze it anyway.

Mics_chick

chuckley wrote: »

they only listen when you repeat yourself. most will listen after your first letter, however the DOGS will totally ignore it and send letters day after day, threatening action. repeat the letters stating you informed them on letter dated 'xxx', and leave it at that. eventually they will calm down when they realise they cant bully more out of you.

if they cant/wont freeze interest still pay what you said you can afford. you never know after a couple months they may just freeze it anyway.

Thanks Chuckley I will send them another to restate my situation but what do you mean by "DOGS" - does it stand for anything?

mr.ton

Mics_chick wrote: »

I contacted all my debtors about 2 months ago informing them of my situation enclosing a budget and a list of debtors.

I've only contacted them since then to try and get them to stop calling me so often which has worked - mostly

But I'm still constantly getting letters from them demanding more money or saying they can only comtemplate freezing interest, etc if I pay 0.5/1% of the balance which I definitely can not afford so I just ignore them.

Even though I can't think of anything that I can do to change the situation with them I'm still wondering if there's anything I could be doing....?

Anyone got anything to say?

Once you start making payments to DCA's - they then see you as an easy target/a cashcow & will start using all sorts of tricks/threats to get you to pay more.
Have you sent any of them a CCA request?
You could report them all to the OFT & trading standards as well

Mics_chick

mr.ton wrote: »

Once you start making payments to DCA's - they then see you as an easy target/a cashcow & will start using all sorts of tricks/threats to get you to pay more.
Have you sent any of them a CCA request?
You could report them all to the OFT & trading standards as well

What's a CCA request MrTon?

Savememoney2009

The DOGS are the companies which never give up and quite literally hound you!