Hi
Cash Genie are intending to commence legal proceedings against me.
A little bit of history...
I was a law student and then decided (foolishly) to borrow a load of money to do my LPC. Graduated and then worked at a large national firm working as a paralegal. In October 2010 I was made redundant (did not have one years service, easy to get rid of me), This meant that I did not have a job and struggled to keep up with the payments of my LPC loan. I therefore basically robbed Peter to pay Paul and ended up getting credit cards and payday loans so I could keep up with repayments.
I luckily found another job (training contracts are non-existant) and I have been working in housing law (I love it) since January 2011. In February 2011 I decided to instruct PayPlan to deal with my debts and I have been paying £300 per month to PayPlan. Cash Genie have been allocated £3.40 per month. I admit this is quite small but it is worked out fairly.
Roll to September 2011 and despite my constant emails stating that Payplan has offered this amount because of said reason they have sent me a LBA
It reads:
Intended Action: Cash Genie UK Ltd v Blade1987
Sum Due £472.60
We write with reference to the above intended action.
On February 2011 you entered into an arrangement to borrow the principal sum of £150.00
Despite extensive chasing for repayment by us and promises to pay by yourself the amount remains outstanding and further interest and charges have incurred (a default notice in relation to the charges is attached).
The sum of £472.60 is therefore due immediately. To ensure that further action is not taken against you, please notify us in writing your reasons for non payment within 14 days.
If we have not heard from you by close of business 30/09/11, we hereby notify you that it is our intention to issue proceedings against you forthwith without further notice to yourself. Please note that any court proceedings will include a further claim for interest and costs.
We do hope this action will not be necessary and look forward to receiving your remittance by return.
Yours faithfully
LEGAL DEPARTMENT
CASH GENIE UK LTD
Its probably shameful that I do not know debt law nor the process but I deal with housing so possession proceedings; disrepair; homelessness; neighbour nusiance etc. Id be happy to help with anyone who has queries
I would appreciate all the help that you guys could be. How shall I respond to this letter? If they do issue me with a CF would you guys help me draft a defence?
I would ask the debt team at my firm but im too embarrassed. Hope you all understand.
Thanks
Blade1987