Advice on debt recovery after 10 years

kicked

Hi, in 1995 i lost my job and after fees owed £798.19 on an overdraft. I couldn't pay it so ignored everything until 2 years later tried to pay some off. My last payment was in 1998 and i stopped recieving letters about a year or so later. After a few years with bad credit i managed to get a bank account and credit card and built up a very good credit score and have no bad credit now whatsoever. I even moved out of parents home 4 years ago, got a mortgage and got married.
However, this morning, after 10 years of not hearing anything i got a letter at my current address from capquest saying they bought the debt and are prepared to accept a settlement of £399.10.
I phoned them up and said that i haven't heard anything for such a long tima and as far as i was aware the debt no longer existed. I was told that the debt still existed and that Abbey had been sending me letters (i have not recieved any letter regarding this debt as i said for 10 years) even though i was no longer at that address. I said that its my parents address so i would still have recieved the mail. I was told then that my last payment was in 1998. He then proceeded to offer a 75% discount to £199. I said to put the offer in the post and i will try and find out where i stand legally. I have until Wednesday to pay. Is this right??
I appreciate any help or advice given.

Numpty_Monkey

The debt should be be statued barred
send them a copy of this (ammended) letter
http://forums.moneysavingexpert.com/showpost.html?p=11571227&postcount=3

And report them

DarkConvict

As you have not made any payments then Numpty Monkey is right it would be statued barred.

You get a lot of companies buying up debts and hoping to make a profit on it by pressuring people to acknowledge they owe money, then get them to pay up.

McKneff

:j:j:j:j

Tell them to 'jog on' :rotfl::rotfl::rotfl:

[Deleted User]

If you havent spoken to them or paid a penny since 1998 like you say then they cant touch you simple as that. I had one a few month ago and knew it was barred and told them on the phone. 2 days later a letter of the same debt but a diffrent company turn up again rang them and told them i know it barred. 2 days later a letter appered to say it now closed. They cant force the money out of you but they are allowed to try, so tell them where to stick it m8 and dont worry, send that letter and carry on with you life.

PS if you had debt and you havent made a payment or spoken to them for 6 years then that how it become barred. If you contact them like 3 years after your debt then i think the 6 years start again but im not sure can anyone tell me if this is right please.

BeautyandtheBeast_3

crafty devils!!! send the letter and report them!

GeorgeUK

You can't report them - they are correct in that the debt still exists and always will until it's paid.

They cannot however enforce the debt. If they were to try to take you to court to pay the debt then your defence would be that the debt was statute barred and the judge would slap them for wasting his time. They have no means of getting you to pay, but they are still allowed to request you pay.

Unless of course there is a CCJ against this debt in which case the debt may still be owed.

fermi

If they continue to make demands for payment or threaten court action to recover the debt once you have told them you will not be paying because the debt is statute barred, THEN you can report them.

kicked

Ta guys, thanks for your help and i will send the letter. I have no ccj's and my credit rating is fine...and that is the way i like to keep it.