threats of 1st charge on property HELP!!

sadmom

I have had a debt collection agency ring me and say that if they dont dont get at least £120 per month to pay my £4500 cc off they will get a 1st charge on my property. I have told them i am in the process of setting up a dmp with paypay, but say they havnt heard anything from them, even though i know they have given payplan the sum outstanding so they HAVE heard from them.
Anyone else had these sort of threats and do they follow up on them?
i am so worried about this.

RAS

Hi

Please take it gently.

Technically debtors can put a charge on your house, but they have to go to court and the chances of a judge agreeing to this when you are on a DMP and ware keeping to the terms of the DMP are miniscule. it would also cost them a lot as well.

What they are doing is trying to panic you into making an agreement that you cannot keep.

This contravenes also sorts of OFT guidelines.

You need to write to them an tell them that all phone calls must cease and they must only contact you in writing

Also add that their threats contravene the OFT guidelines and you are reporting them.

Then report them

sadmom

Thanks, i will write a letter, i am sure i saw a template of one somewhere i will scour through the posts for it.
They certainly know how to scare you with these things.

sadmom

i wish they would hurry up and take my first payment out so i can at least know they are getting some money. did send small payments to my creditors couple of days ago, but didnt send a letter as i did it by internet banking.
i hate picking up the phone now!