Loan Problem

jackiesfarm

I have been on a debt management plan for over 2 years now. In August I got a default letter from the Co-op contacted them and they said it was standard and to ignore it.

I got another letter on the 20th august saying I was in breach of the loan conditions and to pay the whole loan. I checked the account online and noticed they hadnt taken a payment for 3 months although all 3 were there from CCCS so I phoned them again spoke to someone who said the letter was wrong took all three payments and told me not to worry about it.

Today I received another letter saying the account was terminated and they would be forwarding it to either a solicitor or debt collection agency as I had ignored all letter, what do I do now. I intend to phone on Monday but it seems no matter how many times I contact and speak to them I keep getting the letters.

antonic

I wouldnt worry as with me I defaulted on a Capital One credit card in Dec 2005 but they didnt default me till Dec 2008 !.

As for them selling the debt on it MAY be to a solicitor or a D(ebt) C(ollection) A(gency) or DCA, that *MAY* be to your advantage as they may freeze the interest - HBOS did with my credit card debt to them eventually.

Dont panic, this is a procedure they have to follow under S87 (1) of the Consumer Credit Act 1974, and its not aimed at you personally.

Hope this helps !