What should I do about this?

Whenispayday

I own Lloyds TSB £990.83 for an overdraft that at the time I didnt pay off, mainly for medical reasons
They closed my account, and then Moorcroft Debt recovery wrote to me asking for the full amount or they would be sending the bailiffs around. I wrote to them at the time enclosing a financial statement and a letter saying that I would be prepared to make a payment of £10 a month. I never heard anything back from them

Today I have received a yellow slip from Allied International Credit, with the wording "warning our client has informed us that under their terms and conditions full payment must be made immediately to this account", should you need to discuss your account please urgently call Mr xyz on xxxxxxxxxxx.

I'm not in a position to be able to pay off the full amount straight away, but I am willing to make them a standing order (NOT a direct debit) payment each month.

What should I do about this?

Amy

mom23

Hi
Sorry i,m not too good at the advice bit but thought i would give it a little bump to the front page.

Whenispayday

Does anyone have any advice they could give me?


Amy

s0127786

Call Mr xyz and explain - i'm not sure if you're in a position to negotiate or if £10 is the absoloute limit - but a £990 debt at £10/month is 99 months = 8 years (give or take) which is an awfully long time.

Find out what they'd be willing to accept and take it from there - The fact you make an effort to speak to them will help your case enormously.

TakeittotheLimit.

We will send the baliffs round......empty threats as usual from a debt collection agency.
They can`t send the baliffs round until you`ve been taken to court and not kept up payments.
And NEVER ring these sharks unless you have to as they will only try and bully you into paying more than you can afford,send them a letter and offer them what you can afford.