CDCS - Barclays recovery

George1967_2

I have a large dept with CDCS - previousely a Barclays overdraft ( Over £100,000) and I am paying £500/ month for a number of years now - however recently they have been contacting me demanding that I up the payments - which I simply can not afford - no pay rise, fixed rate mortgage etc etc.

What powers do they have to demand more money, and more worringly still - do they have extra powers over say the property / other assets such as my car? The debt as I said was from an overdraft and as such is not against any property or secured in any way.

They have even said they will sell the debt on--- where would that leave me? I have been paying for over 5 years now without any missed payments.

Any advise welcome, thank you

fermi

No. Unless they go to court for a CCJ and then further action like bailiffs or a charging order, then they have no rights over your car or property.

Nothing really changes if they sell it on. You may have to re-negotiate payments with the buyers at the same rate, and obviously pay them instead, but selling it on does not give anyone any extra "powers" to do anything.

BTW, do you really mean £100,000?

George1967_2

At least thats one thing of my mind, and sadly yes - large overdraft / expensive divorce and then a few years trying to get over the said divorce by taking numerous ladies on expensive holidays, which I did enjoy -

Barlcays just kept letting me increase my O/D facility. Then one day they wanted it all back. To be honest cant blame them. My only wish was that they hadnt let me spend it in the first place - but I did, and so I do owe it. Just can afford to pay any more each month thats all.

Thanks

sc1_2

Wow. I thought my £900 overdraft was a pain...