Need help with Marlin F S

[HeatherM]

Hi guys, new here so be kind:smile:

 

My OH had a credit card debt of £2,861.53p with Clydesdale and was taken to Sheriff Court where a decree was granted and a time to pay direction was made. This included expenses of £260.70p plus 8% interest per annum. Payments commenced on April 2005, he never missed one, but on November last year Clydesdale transfered the debt to Marlin Financial services............he has a letter from Clydesdale dated Nov 2009 stating the balance was £2.042.23p. Got a new payment book from Marlin and carried on paying his £20 per month and all seemed fine until he received a letter from Marlin on June this year offering to reduce his debt by 10% for a lump sum of £2,411.34 and that the debt currently stood at £2,679.25.

 

This makes no sense to us at all...how could it go from the sum the Clydesdale stated was owed in November 2009 to over £600 more by Marlin's calculations. I have tried writing but I got a breakdown with interest at 41p per day and my sums are not that great to be honest.

 

Can anyone help? what can I do to get this sorted. thank in advance guys.

[dx100uk]

naughty

they cannot vary the terms of the decree.

 

have you a total on the decree?

 

try using:

http://www.egalegal.com/compoundWindow.html

 

to work it out

 

dx

[HeatherM]

Thank you for replying. The decree states: Sum decerned for £2,861, 53P with interest thereon at the rate of 8% per annum until payment, and granted decree against offender for £260.70 for payment of expenses. Payable by instalments of £20 per month commencing 7th April 2005. I tried working it out with your link but I think I must be doing something wrong.

[IdaInFife]

hi Heather and Welcome to CAG

 

it looks as tho the statement from Clydesdale did not include the interest

 

you are paying £240 per year and the interest started at nearly £250 per year and now down to about £215 a year

 

as this is via a court order the only advice i can give you at the moment would be:

 

if at any time you have extra monies that you can pay then do it to try and reduce it quicker

 

or if you were in a position to offer a full and final - don't be afraid to do so even if you feel it's not enough - they can only say yes or no

[HeatherM]

Thank you Idainfife, I never thought of that. Silly Clydesdale again LOL. Offering Marlin a lump sum isn't really an option for us at the moment so they'll have to settle for the £20 per month.