iqor - client wanting full payment of debt, please help

[vwscottie]

hi

could anybody help please, i took out a loan in 2004 that i couldnt keep up the repayments too - i heard nothing for a couple of years then received a letter from the OC who said they were going to get me to sell my house, the debt was passed to iqor and I requested the cca - its is all in order and iqor are now saying their client wants full payment of the oustanding balance etc etc. i have spoken to iqor and asked if they will accept a £10 monthly payment as i was advised by National debt Line - they said send a letter in and we will have a look, now I kow the OC wont accept a token payment as i asked them before the debt was passed to iqor and I informed the OC that I had sold my house so they couldnt get a charging order etc - I dont own the house but obviously they think I do as I must have said so when I took out the loan, the loan is not secured. so i dont know where I stand tehre, i am only on incapacity benefit so dont have a lot of money so just wondered if it is likely that iqor will accept my payment or will the OC have something to do with it, please help, going out of my mind with worry and feel like topping myself, i dont wnat to lose my house. please help

[spamheed]

they can only have what you can pay, no more than that.

 

If you don't own a house, then they can't take it from you, or issue a charging order, as there is nothing to charge against. if the house is rented, then they cannot make you leave, or induce your landlord to make you leave.

 

If they refuse to accept your offer, just pay it to them in anyway, keep a record of all payments, correspondence, receipts and proof of all postage.

 

If they take you to court, the worst that will happen is that you will need to prove your financial status and will be ordered to make payments at a level you can reasonably afford.

[vwscottie]

thank you but what do I do if they dont accept my offer - will i have to go to court. does it matter what the OC wants as they refused any offer I amde them so will Iqor accept my offer or will it have to be approved by the OC as they will just refuse it

[Ell-enn]

Hi there, if the OC and Iqor won't accept your offer of payment and it goes to court the judge will set payments at a rate you can afford. If you are in rented accommodation then you cannot lose your home.

 

Kind Regards

 

Ell-enn

[rory32]

I would also point out that it is unlikely to go to court as you are on incapacity benefit and they will be aware that if it went to court the judge is likely to set your payments at less than the £10 per month that you are currently offering due to your lack of disposable income.

going out of my mind with worry and feel like topping myself, i dont wnat to lose my house.

Try to stop worrying (I know it's difficult) but realistically there is very little that they can legally do. As has been previously pointed out they can not force you out of your home nor can they get money that you don't have. Your incapacity benefit is designed to give you enough to live on. Any judge has both a legal and moral obligation to ensure that people have enough to life on regardless of how much they might owe to creditors.

 

This is a non priority debt and you should start treating it as such. By that I do not mean ignore it, but be aware that in terms of paying it it comes right at the bottom of the list after you have met all your essential outgoings and bills.