Default explanation regarding the legal process

Nasqueron

Floppers said:

As for a CCJ it would cost them say 1k to get one

As my income isn’t remotely close to being able to pay more than the token £1 per month it would be money lost by them

Basically throwing any profit away if they paid 10% for it

But this is the reason I’m asking about information and why it’s all gone off my CR

As unless the government had some payment scheme because of COVID regarding debts 

It should be visible the default and 5 years of payment history ( if they’re going of a 6 year cycle ) 

A CCJ costs as little as £50, if it's £3k, probably £115 cost to them, very much worth it for a debt they may have bought for under £300, maybe even as little as £150 if they feel they can get £500+ from you. They may not do of course, may just keep collecting and keep badgering to up your payments or offer you a settlement amount that makes them some profit after costs

Floppers

Thank you

Re the debt - I’m told by another company that they have brought it 

The original company I have not heard hide or hare or made a payment for definitely 3 years 

No default notification or any letter email txt 

The default and last 6 years history have disappeared sometime in the last month 

This new company I haven’t spoken or communicated with personally 

Yes I’m going to just keep stum - I just wanted to know the different ways of how it could play out

Credit score - They can’t do anything bar pop my default date back on ( I will challenge as it’s wrong by just under a year )

CCJ - No assets rent off Local Authority and it such a small amount  (3k) 

CCA - As they definitely won’t have the original address or anything signed ( last century ) so that I think gives me (2) chances of any CCJ happening 

But as I’ve never been in this situation before never missed a payment I was concerned 

So I much appreciate the response on here regarding this

Floppers

  A CCJ costs as little as £50, if it's £3k, probably £115 cost to them, very much worth it for a debt they may have bought for under £300, maybe even as little as £150 if they feel they can get £500+ from you. They may not do of course, may just keep collecting and keep badgering to up your payments or offer you a settlement amount that makes them some profit after costs

Thank you that’s very interesting didn’t obviously read the right information on CCJ

CCA is still definitely in play - Took me a few hours to remember which address 

As I asked about a new line of credit the other day - Waiting for it to arrive now this is the reason I’ve asked so many questions 

Floppers

I don’t pay anything and haven’t paid anything for over 3 years. It’s just been sat there on my CR

I sign consent form for someone to contact them about it. But obviously haven’t done or the company aren’t too fussed as
still trying to contact 

But I’m in the red every month on paper 

sourcrates

Sorry, your post is quite confusing and jumps all over the place, I`m not sure I follow what you mean at all.

Floppers

Apologies was failing to multitask 

Didn’t know a CCJ was so cheap, which is surprising as I’m sure I’ve read only about 15% end up receiving one 

But would guess maybe not having the correct paperwork may add to the low figure 

I haven’t paid anything off for just over 3 years as I believed I was on “ breathing space “ but I honestly don’t know 

But I know I’ve had no letters regarding a default as I’ve had nothing ( email txt call ) 

I don’t believe if/when i send a template letter ( CCA ) no one original company or new will have anything 

As again I don’t know but believe it has to be the address where I opened the account ( 1996/7 I opened the account )