Help!

martynt

[FONT=&quot]I am in desperate need of advice.[/FONT]
[FONT=&quot]When I was made redundant I had, amongst many other debts, a loan with Lloyds. I could no longer afford to make the full payments on this so we came to an arrangement where I was paying a small amount per month via Apex DCA.[/FONT]
[FONT=&quot]Recently Lloyds sold the debt to Cabot Financial so our arrangement came to an end. The first I knew that Cabot had bought the debt was when they wrote demanding full and immediate payment of the balance, although they did eventually provide a Notice of Assignment.[/FONT]
[FONT=&quot]Cabot more or less ignored all letters written to them and quickly passed the account to [/FONT][FONT=&quot]Marlin Financial Services Limited, a DCA that I understand is Cabot anyway. They too ignored all letters sent and passed the account to Restons Solicitors by sending me a letter on Restons headed paper.[/FONT]
[FONT=&quot]Restons only ignored some letters but refused to actually answer any questions, simply repeating the mantra that unless I paid them they were instructed to take legal action. When I pointed out that I didn’t owe any money to their client, Marlin Financial Services, they ignored this but on their next letter their client had changed to Cabot.[/FONT]
[FONT=&quot]Anyway, they did indeed take legal action. When the forms came though, I figured that I owed the money so I put my hands up and sent them an offer of payment of £20 per month. I work 22.5 hours a week in a retail store for minimum wage so even that amount was going to be a struggle and it was four times more than I’d been paying when the account had been with Lloyds.[/FONT]
[FONT=&quot]I’ve just received a letter from the court where Cabot or Marlin or possibly Restons have rejected that offer and the court has decided that I should £300 per month - about 60% of my monthly income. I know that wouldn’t be sustainable and I am at my wits end as to what to do.[/FONT]
[FONT=&quot]Any help and advice would be gratefully received.[/FONT]

fatbelly

You've received the judgement, I think. To pay 300 per month against a debt of how much? I'm thinking this must be fairly large.

As this was determined without a hearing, you have the right to ask for a redetermination.

http://forums.moneysavingexpert.com/showpost.php?p=33633191&postcount=2

martynt

It is quite large. About 21.5k. I took the loan out over 10 years ago when I was on a reasonably decent income. After redundency, I've never managed to get a job that pays anything like what I was on then and, at the age of 58, I'm unlikely to now.
I can see where they're coming from with £300 per month but it's really just setting me up to fail. Do you know what I need to do?

sourcrates

martynt wrote: »

It is quite large. About 21.5k. I took the loan out over 10 years ago when I was on a reasonably decent income. After redundency, I've never managed to get a job that pays anything like what I was on then and, at the age of 58, I'm unlikely to now.
I can see where they're coming from with £300 per month but it's really just setting me up to fail. Do you know what I need to do?

Click on the link in the above post, copy the letter to the court, adapt it to your situation, and get it sent off ASAP, with an offer of payment you can afford.