Charging interest after decree

[jaffacat]

Hi all.

 

Hopefully someone could help me here.

 

4 years ago I was taken to court by a car finance company.

 

I offered to pay the money back, about £3000 or so, at £30 per week.

 

This was accepted by them and they received a decree from the court.

 

I didn't keep up the payments for long and the company never chased me for the debt.

 

It is now 4 years down the line and I received a charge for money from sheriffs officers today looking for the original debt, their expenses,

and also £4000 interest, almost £3 per day!

 

Are they allowed to charge all this interest,

especially when they haven't actually tried to chase the debt in all this time?

 

Any help gratefully received!

[IdaInFife]

from a decree they can only add 8% per annum which would not make that amount

 

but their expenses i am not sure off so will get back to you on that

[IdaInFife]

Yes the SO fees can be added to enforce the decree.

[jaffacat]

from a decree they can only add 8% per annum which would not make that amount

 

but their expenses i am not sure off so will get back to you on that

 

Thanks for that. That's what I thought, about the 8%. I think they are charging interest at the rate I was paying during the agreement. That's a bit naughty is it not?

 

Do you think they will go down the road of trying to make me bankrupt?

I'm self employed so they can't arrest wages.

I don't have any savings so freezing bank accounts isnt an option.

I don't have any assets they can attach.

 

Also, what can I do about them trying to charge me all that interest?

 

Thanks in advance!

[IdaInFife]

Do you still have a copy of the decree because the company can request the credit of the original agreement is still charged but the judge has to agree to it?

[jaffacat]

I don't have a copy unfortunately! Would I be able to get a copy from the court?

[IdaInFife]

Yes you should be able too

[jaffacat]

Thanks.

 

What do you think they will do now that they have issued the charge for money?

[IdaInFife]

what YOU need to do is sit down and draw up a budget plan.

 

you can find the forms in this link you need to fill in :

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?185249-Have-you-received-a-charge-for-payment-arrestment-summary-warrant

 

I would suggest doing a fuller income and expenditure and attach it to the forms.

 

which you can find in here:

 

http://www.consumeractiongroup.co.uk/forum/content.php?590-Creditors-and-DCAs-Letter-Templates-Budget-Planner

 

you need to return the form to the issuing court within 14 days of the date of the charge for payment

 

do you have other debts?

[jaffacat]

I have a lot of other unsecured debts probably amounting to £25k all because of past gambling problems. I am seriously thinking about going bankrupt!

[IdaInFife]

ok Jaffa if it something you are thinking about then have a read of:

 

DAS:

 

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=22_debt_arrangement_scheme

 

and

BK

 

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=01_bankruptcy

 

Do you own your own home?

 

This is what the SO's will do first if you don't respond:

 

http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=04_enforcing_a_debt_against_you_by_diligence

[jaffacat]

Ok, I've read the thing about what the SOs will do if I don't respond. I don't own my home, have no savings, no assets, nothing! According to the literature, the only thing worth their while doing is going for sequestration, but even then I don't have anything for them to sell to pay the debt!

I've had many charges for payment over the years for non payment of council tax and they have NEVER followed them through, so why would this one be any different?

Would I be better just ignoring it in my situation?

Really appreciating your help and your views by the way!

[IdaInFife]

thats what we are here for

 

have you thought about LILA?

[jaffacat]

Just had a great idea! I had one car agreement with them from 2001 to 2003, paid in full. One car agreement noted above. And one personal loan which I never paid in full and which they never cHased me for.

On these agreements I was sold PPI even though I was self employed! How about I claim this PPI back with interest charged at the rate they were charging me? Compound interest of 39.9% over ten or so years is bound to come to a fair bit, maybe even enough to pay off what I owe them?

[IdaInFife]

Yes you can reclaim the ppi but you still need to deal with the charge for payment

[jaffacat]

What about all the charges for letters and late payments etc? Can I still claim for them or has that opportunity passed?

[IdaInFife]

Nope they are still reclaimable. i'll ask dx to pop in to clarify

[dx100uk]

who me...

[dx100uk]

who was the finance company?

 

let me guess welcome or black horse!

 

dx

[IdaInFife]

who me...

 

[jaffacat]

It was British Credit Trust.

[dx100uk]

ah!! thames credit

 

another favourite little fleecer

 

dx

[jaffacat]

Nope they are still reclaimable. i'll ask dx to pop in to clarify

 

Hi. Not been on in a while - busy with work. Just about to send off my SAR to get all the figures I need. Just wondering how it is still possible to reclaim the charges etc when I thought that had all stopped?

[dx100uk]

only on bank accounts

 

rest are fair game

 

read below

 

dx