Without going into lots of detail, I have a dispute regarding a rolling contract that I (and many,many others) feel I was conned by and so far I have refused to pay. This was as a sole trader rather than consumer if that makes any difference.
The debt has been passed to a debt collection agency who rang me today to say it would be going to court and that I would lose, which although morally I believe I'm 100% in the right I fear because I signed something, although not what I believed I was signing, they could well win. I told them fine, I'm on maternity leave and no longer trading so cant afford to pay anyway (about 300 pounds)
I would like to wait and see if they do actually take it to court. My questions are:
Is there a timescale in place that they would have to issue court proceedings?
Will there still be a chance to settle out of court / agree a payment plan if I decided that was best option?
At what point, if any, will this affect my personal credit rating?
Thanks