Aktiv Kapital

KK22_2

Hi there,

My sister has accumulated a lot of debt over the years and is currently paying off a store card. Aktiv Kaptial (credit company for the store card) has sent her a letter stating that if she pays £150 within 14days, they will clear her account. Her outstanding balance is currently just under £1000, so £150 would be her preferred amount to pay!

They have said that the account will be paid in full, a paid in full letter will be sent when the money is received and her file will be updated to acknowledge this account has been paid.

I was wondering if anyone else had paid off their accounts doing this or had any experience of this sort of deal. It all seems a bit too good to be true, so thought i'd check with the wise and wonderful MSE'ers!

Thanks.

LydiaJ

Aktiv Kapital are well dodgy. See this thread, for example:
http://forums.moneysavingexpert.com/showthread.html?t=89287

Your sister needs to be very careful here. Is she sure that the debt Aktiv Kapital are trying to collect is genuinely the store card debt that she knows she has run up? Have Aktiv Kapital supplied her with correct account numbers etc? She needs to check everything out fully before handing over any money, or even replying to their letter. I'm sure someone else will be along soon with more detailed advice.

Things that seem too good to be true usually aren't true.

GeorgeUK

A reduced settlement offer is talked about here quite a bit. 150 for a 1k debt is quite a good deal if it is for a "full and final" settlement rather than a "partial" settlement.

It may be best to write back, thanking fthem for their letter of xx/xx/2009 and request that they confirm that they are released from any further liability.

National Debtline:

I want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you or any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.

Make sure she receives confirmation that they will not be liable for any future payments towards this debt before sending payment.

KK22_2

Big thanks to both of you for your helpful replies, much appreciated.

Lydia, even after a quick skim through the thread you posted the link to, I am having serious doubts about this debt. When she read the letter she assumed it was for the store card but since she has debts all over the place, she loses track. I will definitely get her to verify that this is the correct debt etc.

Thanks again.