Hi,
I hope some one can help us, my partner took out a loan with the Halifax about 10 years ago, I think the original loan was for £5000, after a year or so Halifax phoned my partner and offered to increase the loan to £10,000 as intrest rates had gone down and the monthly payments would be pretty much the same!! Of course my partner said ~Yes. He paid this loan monthly for about two years and then defaulted. He went to our local CAB and they sorted out his finances and he has been paying £40 per month since then.
He received a few calls from 1st Credit and and told him that he has to pay the full amount and they wanted to take this payment over the phone. Of course he told them that he did not have the money and they asked if there was someone he could borrow off. (how absurd) he said that we have 7 days to pay in full (the amount they are looking for at the moment is £11,287.11) before he knew who they were they asked if he was working he stupidly told them that he was and that he is self employed, they asked what his earnings are and he told them that it was between £10,000 - £20,000. As far as he is aware he did not admit the debt.
I have also spoken to them and they have told me that if he does not pay this amount they will sent baliffs round! they also said that they would not be prepaired to carry on with the current payment plan with out security, they then asked if we own the house, i told them that we do. At the moment we are not really sure what our options are as we have been paying an amount since the first default.

Any help would be appreciated

I would suggest you see my reply in the other worst credit thread

Based on a similar experience, unfortunately 1st credit will go all the way with this, they have put a charge on my property and are currently enforcing it - meaning they are trying to sell my house. Neither my husband or myself are self employed but a family member who has a similar size debt with 1 st credit and who is self employed was issued with a statuory demand by 1st credit - he was then given 21 days to come up with approx. £12k and couldn't - so 1st credit proceeded and made him bankrupt.

I know people try to be helpful on these forums but be careful of what information you follow thru with as unfortunately it did not help us, I know we got into debt and I was not trying to hide from it and wanted to accept responsibilty and pay and therefore I acknowledged that the debt was mine, after all it delays the invitable by denying the debt - they do have signed agreements and unfortunately also used the recorded conversation in court as proof and acknowledgement of the debt.

Good luck - try and come to some arrangement with them would be my advice.

I have yet to see worst crudit come up with a legally enforcable agreement and anyone who has stood up to these bullies has found themselves alone in court as they never show up if there is a fight. I have a signed agreement sent by some other pond life chasing a credit card debt, so in your eyes I should just pay it?? What about the missing prescribed terms that render the agreement unenforcable?

As I said in the other thread the only reason they get away with it is through people's ignorance of the law and their rights. Worst crudits whole business is built on this.

I smell trolls!!!