Hello I am new to Legal Beagles, so if this is not the right place to post my thread I do apologise.
Here follows is my inquiry.
Back in April 2011 I defaulted on my Barkley Card, since then the debt has been sold to MKDP, I used to receive lots and lots of calls from them and then nothing. I went through some hard times in my business, however now things are starting to get back on track and now I was looking to apply for some finance, so after being refused finance I went to my personal credit file on Equifax to see that this default was displayed (no surprise there then). I then contacted MKDP to see if I could have a settlement figure from them, now the initial figure outstanding was £9605.00 from Barkley Card then went to £11405 with MKDP and the settlement figure was £6800 of which was to much for me however they recommended paying the debt up at £5 per month, now I was willing to give them £3000 settlement but they refused this figure but they want £5 per month?????????????? Now this will take over 190 years to pay-off, so here's where I'm at, do I pay and if so could I be bringing a lot of problems my way or would it help my credit rating with Equifax, can MKDP start causing me problem, CCJ etc etc... what should I do?
Many thanks in advance..........
Here follows is my inquiry.
Back in April 2011 I defaulted on my Barkley Card, since then the debt has been sold to MKDP, I used to receive lots and lots of calls from them and then nothing. I went through some hard times in my business, however now things are starting to get back on track and now I was looking to apply for some finance, so after being refused finance I went to my personal credit file on Equifax to see that this default was displayed (no surprise there then). I then contacted MKDP to see if I could have a settlement figure from them, now the initial figure outstanding was £9605.00 from Barkley Card then went to £11405 with MKDP and the settlement figure was £6800 of which was to much for me however they recommended paying the debt up at £5 per month, now I was willing to give them £3000 settlement but they refused this figure but they want £5 per month?????????????? Now this will take over 190 years to pay-off, so here's where I'm at, do I pay and if so could I be bringing a lot of problems my way or would it help my credit rating with Equifax, can MKDP start causing me problem, CCJ etc etc... what should I do?
Many thanks in advance..........