Dear Sir/MadamI currently pay Marlin Financial Services (Yes the company featured on TV with very bad reviews, and regrettable we are one of those people who lives have been made a misery by them) £20 per month for a debt that defaulted 28/02/2005 and went to Judgement on 27/05/2005. I know that they will both be removed from our credit file in 6 years. After that date do I still have to make payments or can the debt no longer be chased. I have read in forums that a request for the original credit agreement should be asked for but I am not sure what the purpose of that is. Please can you advise as £20/month extra would be great for us.Thank-you
Province/Country relating to question : UK
It has been taken to court as they were demanding more per month than we could afford with a threat of repossesion and bankrupcy, so a variation on our monthly payment was set at £20 by the judge after viewing our income and expenditure
HiThank you for your question. I will try to help with this.do you mean there was a CCJ in 2005 and you got a variation order allowing you to pay that sum?
Yes the CCJ was issued against my wife by Marbles for a credit card she had. The debt has since been bought by Marlin. We started making payments but Marlin started applying more pressure to increase monthly payments we then with the help of our local council (as repossesion was being threatened) took it to court and arranged with the judge to pay £20/month. We have been making those payments regularly for the last approximatly 18 months
In that case, I am sorry but its bad news.Although any default or CCJ will drop off your credit file after 6 years as you say, they can still enforce it as there has been ongoing payment.If you are paying under a variation order and you stop after 6 years there is a reasonable chance they will just bring the matter back to court and ask for revocation of the variation order and further enforcement - all at your expense.There is one option that you could consider that may be worthwhile though if you have a lump sum of cash. I can give you more information on that if you'd like.I am happy to discuss this further but please remember to click on accept. Your question will not close and you can ask related follow up questions for free.
Bar Exams, over 5 years in practice.
Don't know what contitutes a lump sum, but yes I can access a volume of cash.
On option then is to offer a lesser sum in full and final settlement.If the CCJ was in 2005 and you are paying at £20 then they may very well give you a large discount if you were able to pay off the amount in full. Probably in the region of 50%.However, it is important that you phrase it correctly. You must never lie in the course of legal proceedings but you don't have to tell everybody everything. Do not suggest to them that you can comfortably pay this. If you do there is a risk they will bring this back to court for redetermination of the variation order and you could end up with a larger monthly bill. Some creditors are worse than others for doing that. Just write to them offering them 50% as a one off deal. They may not take that amount but offer a reduced figure. There is a large amount of negotiation with this type of thing but it can be hugely beneficial.
No problem. Good luck.
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