Waiting for Defaults

thelibrarian11

Hi,

I'm waiting for 5 debts to default. I have just not paid them and ignored them so far. What I am waiting on is a letter from them saying I've defaulted, then I will offer them £1 token payments by standing order.

Do I just wait until that happens, unless I get a letter before action? Should I send them a letter saying I have a HMRC debt and have to prioritise that so dropping down to £1 payments to encourage them to default? Or just carry on ignoring them until they default, then do that? 

I've got a couple of defaulted debts I was previously paying through StepChange I want to drop down to token payments for, that I have already sent a letter to, and haven't heard anything back from. Do I just wait for them as well? I need their bank account details for a standing order.

Thankyou!

Grumpelstiltskin

The chance of getting a letter before action before you get a default is virtually zero.

Do not engage with them, just wait and see when they default.

exponential

Is there any truth to the suggestion by some people (not on here) that any unsecured debt over £10k that goes unpaid is treated more seriously and is more diligently chased for payment. 

Any thoughts on this at all?

RAS

There's experience here that Creation and some credit unions are more likely to go for CCJs. The latter don't have the same financial set up as banks and some want to ensure their debt is repaid rather than just letting it slide into statute barred.

sourcrates

exponential said:

Is there any truth to the suggestion by some people (not on here) that any unsecured debt over £10k that goes unpaid is treated more seriously and is more diligently chased for payment. 

Any thoughts on this at all?

I have known debt collectors chase a £48 debt, with calls morning, noon and night, for months on end, and at the other end of the scale a £160,000 mortgage shortfall debt written off with one letter stating that the debtor can`t afford payments.

There is no rhyme or reason to the world of debt collection, if anything, the larger the sum you owe, the less chance there is of them getting any money back, and so collection activity tends to dry up, but if its only £50 there's a much better chance of being paid, so who knows.