Debt sold to Regal Credit

[spanish_pants]

Hello. I would appreciate any advice offered on the following situation. I had a student overdraft with the Natwest which was closed around 2 years ago and for which I had been paying back £20 a week for almost 24months.

 

Out of the blue I received a letter from Regal Credit demanding full payment etc etc. I contacted them and stated that the £20 is and remains the amount that I can afford every month (as I have another debt I pay back at 20pounds per month) but they demanded £50 as a minimum.

 

I have since sent them a budget showing my income and outgoings and have offered £20 a month. I told them I cant afford to pay the £1270 outright but offered a lower amount but they stated they would only accept 80% to close the debt.

 

As this is not something I have ever had any experience with (I'm 22 and just finished studying) I wanted to make sure that I am dealing with this correctly? I have spoken to the CCCS and they suggested a DMP but it would involve contacting all my creditors which I don't want to do as I am dealing with them fine and don't want to change my agreement with them.

 

Any help/suggestions will be highly appreciated.

 

Thank you!

[Michael Browne]

I wanted to make sure that I am dealing with this correctly?

 

Yes, you are. You have offered and are paying what you can afford. The only way they can force you to pay more is with a court order, and the court is more likely to award a lower payment rather than a higher one, which Regal know only too well.

 

Don't speak to them on the phone, insist everything is in writing, ignore their 'threat-o-grams' and just maintain the payments

[spanish_pants]

Yes, you are. You have offered and are paying what you can afford. The only way they can force you to pay more is with a court order, and the court is more likely to award a lower payment rather than a higher one, which Regal know only too well.

 

Don't speak to them on the phone, insist everything is in writing, ignore their 'threat-o-grams' and just maintain the payments

 

I've finally received a response as below after offering £20 per month as I was paying to NatWest before. What should I do now? I included an accurate budget which showed that was how much I had available..

[Michael Browne]

The thumbnails are too small to read, but it appears your personal details have not been removed

 

Scan it into your computer and open it in Paint or similar program. Edit out the personal information and save it

 

Open an a/c on Photobucket, (here: Image hosting, free photo sharing & video sharing at Photobucket ), download the file of your scan from your computer onto Photobucket and then post the link from Photobucket in your thread here.

 

See how to in post #15 here:

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