Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I'm not sure if you can help me, here's my situation:
In 2002 i went over my 1500 overdraft with Barclays and never paid it back. I buierd my head in the sand, moved a few times and forgot about it. At my current address recently Ruthbridge tracked me down with a letter stating that i owe £2056 which sounds about right. I spoke to them and offered £50 a month which they wouldnt accept. They said that they would accepy £1500 (ish) if payed within 4 weeks. I tried to get a loan to pay this but was unable. As such i offered them the best i would which was £300 up front and the rest in monthly installyments of £150 (for the full amount and not the reduced amount). After reading what you have said about this company i wonder if i have done the right thing. It it too late to change my proposal (I have payed £450 so far), as i am struggling to meet these high payments. Would i be able to reduce them? I am keen to try to repair my credit ratibng and think that this default will fall off my credit file next year (2008 and so am worried that if i do anything to upset them they may stick another one on or something? Sorry to be dim, but am only just trying to sory all this mess out!
I hope you can help. Thanks so much for you time
You have come to an arrangement with Barclays to pay the overdraft at £150 per month. So long as you keep to that, you should have no trouble with them.
The problem is that you have over-estimated what you can afford to pay.
Any reduction in the payment must be by negotiation with the bank or else they will become somewhat peeved. You would have to write to the bank and explain the difficulty and offer a more realistic repayment......
.....and hope for the best.
Have you sent the bank a Data Protection Act SARs request to get details of all transactions on your account during the last six years? If no then you should do so without delay. You will find a letter template in the templates library. Don't forget to enclose the £10 fee.
When you get your bank charge details back, check through and see how much of that overdraft is due to unlawful penalty charges.
Any unlawful penalty charges can be claimed back. Even if it doesn't exceed the overdraft, at least it would reduce your balance.
Also, I suggest that you re-post this in the General Debt Forum. There are users there that will be able to give you more specific information on how to deal with this.
Good luck.
Regards, Rooster.
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Have i made a mistake?
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