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Hi Everyone, Im totally new to the website and to forums in general so I hope I am doing this the right way! I really really appreciate and need any help that can be given,
Over the last month or so I have been receiving letters from 1st credit regarding a debt that was run up with Lloyds Bank and was sold to 1st Credit in November, briefly it relates to the overdraft on my limited business which through circumstances beyond my control (disabled child became very ill and we put the business into receivership and was dissolved in 2010) at the advise of Citizens advice we entered into a affordable repayment plan (one of several debs unfortuantley but at the time was the least of my families problems. Anyway to cut a long story very short all was going fine until the debt was sold to 1st credit. I have replied promptly to all of their letters, advised them of the financial and emotional difficulties we are still under (wife and I both suffering depression, wife particularly very ill), explained about our daughter and made them the same offer that has been accepted by everyone else, we also began monthly repayments of this amount to them on the same day (15th March) 11 days later I received another letter from them threatening me with Bankruptcy proceedings if I a payment plan wasn't begun. I straight away wrote back explaining that we had already begun repayments and reitterating the emotional and financial stress we were still under which I explained to them wasn't helped by the tone of their letter. I sent this letter on the 2ns April by recorded mail. This morning I have had a further letter, dates 6th April (bank holiday Monday?) from their legal dept, saying that they were yet to receive a mutually acceptable offer despite info suggesting we have sufficient means to begin repayment of this debt (My house is in joint names with my wife and is mortgaged), they go on to say they are unaware of any circumstances which may be affecting my ability to begin repayments.... I began repayments on the 15th March which they are not acknowledging. It then goes on to say the account will be held for a further 10 days to allow me to time to respond, but if they don't hear from me tin 10 days then a case review may result in a statutory demand being issued. I have no idea what to do now, I am making payments, though only £15 a month they are what I can afford, 1st credit arent acknowledging my responses or payments and my wife is working herself up thinking that we are about to be made bankrupt.... please if anyone can offer advise in how to proceed, I am seriously at my wits end and feel like just giving up.... its only £5000 but I cant lend it from anyone and its not like Im avoiding the debt...
Over the last month or so I have been receiving letters from 1st credit regarding a debt that was run up with Lloyds Bank and was sold to 1st Credit in November, briefly it relates to the overdraft on my limited business which through circumstances beyond my control (disabled child became very ill and we put the business into receivership and was dissolved in 2010) at the advise of Citizens advice we entered into a affordable repayment plan (one of several debs unfortuantley but at the time was the least of my families problems. Anyway to cut a long story very short all was going fine until the debt was sold to 1st credit. I have replied promptly to all of their letters, advised them of the financial and emotional difficulties we are still under (wife and I both suffering depression, wife particularly very ill), explained about our daughter and made them the same offer that has been accepted by everyone else, we also began monthly repayments of this amount to them on the same day (15th March) 11 days later I received another letter from them threatening me with Bankruptcy proceedings if I a payment plan wasn't begun. I straight away wrote back explaining that we had already begun repayments and reitterating the emotional and financial stress we were still under which I explained to them wasn't helped by the tone of their letter. I sent this letter on the 2ns April by recorded mail. This morning I have had a further letter, dates 6th April (bank holiday Monday?) from their legal dept, saying that they were yet to receive a mutually acceptable offer despite info suggesting we have sufficient means to begin repayment of this debt (My house is in joint names with my wife and is mortgaged), they go on to say they are unaware of any circumstances which may be affecting my ability to begin repayments.... I began repayments on the 15th March which they are not acknowledging. It then goes on to say the account will be held for a further 10 days to allow me to time to respond, but if they don't hear from me tin 10 days then a case review may result in a statutory demand being issued. I have no idea what to do now, I am making payments, though only £15 a month they are what I can afford, 1st credit arent acknowledging my responses or payments and my wife is working herself up thinking that we are about to be made bankrupt.... please if anyone can offer advise in how to proceed, I am seriously at my wits end and feel like just giving up.... its only £5000 but I cant lend it from anyone and its not like Im avoiding the debt...
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