my son took out a personnel loan with welcome finance in 2004 for the sum of £3075 , he defaulted and was taken to court for £4230 that includes howard cohens wedge on top...he now has a ccj and was ordered by the courts to pay £25 a mth starting in feb 2009...he has been paying this off has not missed a payment ...when suddenly he received a statement of how much he still owes, they have also now put on £3000 odd pound for capitalisation for the last 2 years from 20th 2008 to feb 2010 doubling the debt...no interest added before that
i mite add that when he took out the £3000 loan i was the second signature on it...
when the debt got taken to court it came only in his name and not mine as well, though i have received a statement of monies owing...what does he do now as on the court papers it only says that he owed original debt and solicitors costs and interest to the date it went to court,as he obviously mae the £25 offer to the courts as this was all he could afford, and now they have basically doubled the debt
according to the lady i spoke to at lewis they still have the same balance owing as we do from the courts
also i thought that if debt was for under £5000 no interest could be added,or only 8% on a ccj
hope that all makes sense...thanks