Sole Trader needing Debt Advice

[Talcs]

Hello,

 

I would be really grateful for any help or advice, due to the last several months of the credit crunch I have had to pay a few o/s debts monthly on accounts I had outstanding I have struggled to make payments but kept to them.

 

I sent the Companies a full and final settlement letter offering a reduced amount of the balance o/s - but they have written straight back to me know threatening court action if the full amount is not settled within 7 days. I am in despair I don't know what to do - Shall I send them a pleading letter that I try and carry on making the monthly repayments that I was making or agree a smaller monthly payment (as long as I am making a monthly payment each month to them can a judge in court make judgement in their favour)

 

Many Thanks

[Guest Old_andrew2018]

If they are stupid enough to issue a summons you could pay less than you are now, and they most probably know that.

[Talcs]

Thank you I will go back to them to advise I will carry on making a monthly contribution.... I am in more of a panic with me being a sole trader I know I am presonally liable, the annoying think in the industry that I am in at the moment ltd co's are folding and owing millions out and starting up again nearly straight away under a different name - think the amounts I owe are just a drop in the ocean but they know being a sole trader I suppose they have more chance of getting money from me.