debt collectors and credit

securitas71

hi folk. around 5 years ago I brought a £18000 touring caravan on finance from black horse. after about a year is was off work due to a operation and black horse repossessed the caravan selling it at auction. the remaining balance of around £7000 was sold to dlc collection.
ive had a arrangement with them to pay £15 per month which I raised to £25 3 weeks ago leaving a balance of £5100
my car I used for work was scrapped so I managed to get a new car worth £3999 from one if these guaranteed car finance places. on Friday I received a letter from dlc saying there was a change in my situation could I ring them. this I did and was told that they had got notification that I had taken out this loan and was demanding I pay the £5100 off in full or up my monthly payments to £150 per month. she took my expenses and said I was living in the red every month but still demands the money.
I tried to explain that no car meant no money for them. they said they would ring this Friday.

because ive got a new car on finance can they demand payment id like as much info before she rings me back Friday



cheers mark

Tixy

They can demand whatever they want. But the only way the can enforce a higher payment from you is if they take you to court and obtain a CCJ against you.

If you are paying as much as you can afford then really all you can do is carry on making those payments.
I wouldn't phone them again and if they ring again I would say you won't discuss the debt on the phone and ask them to write to you instead.
If they write to you I would write back to say that you are currently only able to afford x per month but that if your circumstances then you will increase your payments.

Have you ensured you are able to afford the loan repayments on the new loan? If you are struggling it might be worth posting on the debt free wannabe section and detailing your income/expenses etc to see if people on there can help suggest ways you can reduce outgoings/get things cheaper/make savings etc

matttye

No they can't.

If they're not willing to accept what you're offering they can take you to court.

Out of curiosity what made you go for such an extravagant car when you're already in debt? You can pick up a decent used car for £1k!

happy_bunny_2

They can demand what they like, doesn't mean you have to pay it.

never ring these people, they will say things on t he phone they would never put in writing.

Write to them summarising your conversation and tell them their offer is unrealistic and you wish to make a complaint about asking for an unreasonable amount.

Send signed for.

They will be careful what they write back, as you can use that against them if needed. They might be more reasonable....