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About mjg1989

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  1. Thanks Sequenci, that link was great and explained it all to me. I feel much better now knowing there is the option of continuing with a monthly repayment instead of having to pay it all in one go. Really appreciate your help
  2. Thanks for clarifying Sequenci. Just one question. When you say "pay monthly & a tiny bit extra", do you mean pay the original monthly payment (£168) and a little bit on top?
  3. Thanks for the all the replies. I'll dig the original agreement up when I get home and post it on here. I believe it was sold on as I was sent a Default Notice from FCE for £394 at Christmas which I unfortunately failed to pay. LFO then picked the debt up. Am I right in thinking that once I get the Return of Goods order, there will be an option for me to offer a monthly repayment? I can get access to the full amount, but if it were possible to spread that out over a few months that would be great. Would LFO insisting I pay the full balance within 6 weeks of my original call be bully tactic in order to get their money faster? Thanks again.
  4. Hi, I am hoping someone can help me out here. I bought a Ford Focus in December 2008 on a Hire purchase agreement. Unfortunately due to some personal circumstances and a bad time in business, I fell behind on my repayments and my debt was sold to Link Financial Outsourcing (LFO) in January 2012. This means I had repaid more than two thirds of the debt and so LFO would need a court order to repossess my car. I rely heavily on my car for work (I run a software consulting firm) and so rang LFO to see if they would accept a repayment plan on a monthly basis but I was informed this was not possible and I had 6 weeks to repay all the money. Rather stupidly I said, this was something I could do but the payment date has been and gone and I have not paid. Today I received a letter (Dated May10th) explaining they were now issuing court proceedings against me and I had to contact them within 48hrs to prevent it happening. I've tried calling but to no avail. As today is the 15th, I presume they have already set the wheels in motion. My question is; what is the process here? Am I right in thinking that they will try to take out a CCJ against me and that I will then have 28 days to pay this, before the baliffs come calling? Or have I got that completely wrong. I can lay my hands on this money by the end of June (I owe £2,531.86) and would be able to clear the debt in full, but somehow I don't think LFO would accept this at this stage. My Credit Report is completely shot anyway so at this point I am not too bothered about getting a CCJ (I already have one from a failed business deal) which was filed recently so either way it's going to be 6 years before it starts to repair. I would be really grateful if someone could please explain the process that LFO are now going to go through and how much time I have realistically to pay the outstanding debt off. I'd be thankful for any information you can give me. Please ask for any more information you need. Many Thanks, Matt
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