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  • FIRST POST
    • superstud
    • By superstud 11th Mar 18, 7:25 PM
    • 78Posts
    • 6Thanks
    superstud
    arrangment to pay vs default
    • #1
    • 11th Mar 18, 7:25 PM
    arrangment to pay vs default 11th Mar 18 at 7:25 PM
    My partner is in a arrangement to pay for her 4k overdraft she is struggling only paying 20 a month she.


    She's wondering if she lets them issue a default rather than having an AP marker for 20 years. whether that will effectively wipe off the debt after six years and what the bank could do e.g. ccj or anything?


    All advice welcome.



Page 1
    • Gary_Dexter
    • By Gary_Dexter 11th Mar 18, 8:29 PM
    • 1,332 Posts
    • 774 Thanks
    Gary_Dexter
    • #2
    • 11th Mar 18, 8:29 PM
    • #2
    • 11th Mar 18, 8:29 PM
    No they won't wipe off the debt.

    She is still contracted to make payments.

    If you ignore them you could end up with a court order for the full amount owed plus interest and costs etc.
    • YorkshireBoy
    • By YorkshireBoy 11th Mar 18, 8:55 PM
    • 30,157 Posts
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    YorkshireBoy
    • #3
    • 11th Mar 18, 8:55 PM
    • #3
    • 11th Mar 18, 8:55 PM
    She seems to have given up! Is that because she'll never work again/increase her earnings, or is it because the 4K is part of a much larger overall debt?

    You're her "partner", can't you help bolster her payments? (Why) wouldn't you want to?
    • superstud
    • By superstud 11th Mar 18, 9:17 PM
    • 78 Posts
    • 6 Thanks
    superstud
    • #4
    • 11th Mar 18, 9:17 PM
    • #4
    • 11th Mar 18, 9:17 PM
    i'm not working at present, neither is she thats why shes paying a low amount - all they would take without defaulting it.
    • YorkshireBoy
    • By YorkshireBoy 11th Mar 18, 9:22 PM
    • 30,157 Posts
    • 18,015 Thanks
    YorkshireBoy
    • #5
    • 11th Mar 18, 9:22 PM
    • #5
    • 11th Mar 18, 9:22 PM
    i'm not working at present, neither is she
    Originally posted by superstud
    But that's only a temporary situation isn't it? Be a shame to destroy your credit files by defaulting when increasing the repayments when you both get back to work would see it paid off...unless, as I asked earlier, this is part of a larger debt problem?
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