Please help with a debt I have on a CC

CDaniels1987

Ok I was very very silly when I was 18 (23 now) and I maxed out an Aqua Credit Card, I have owed roughly £1400 since I was about 19 but I have stupidly ignored it, I haven't heard off them for about a year now so I just completely forgot about it, In the last year I have paid my overdraft off and sorted out other messes I got myself into, however I received a letter of Capquest last week at my moms with a 3 page letter saying if I didn't pay in full within 18 days they would put forward bankrupcy, although I have received final warning letters in the past (over a year ago) I still continued to ignore it because I could not afford to pay it. I do not want to be made bankrupt when i am finally getting my finances on track, but I cannot afford to pay this off in full, after I have paid rent, bills and other things I would be able to pay off around £50 a month, would It be a good idea for me to write them a letter offering this? from what I have heard as long as I offer them something and I keep the payments up they cant take me to court or anything.

Please help, I have no idea what to do, I have no confidence with phoning them and I know they will end up breaking me down to get me to pay alot more than I can afford, which is why I thought of the letter, If I can start paying this off this would be the last of my debts which would be a major weight lifted off my shoulders.

Thanks in advance for any advice given.

ceejaydee23

for one, enver deal with this kind of thing by telephone, they bully all sorts into people, i'm sure someone will be along shortly telling you what best course of action would be.

CDaniels1987

Thank you, hopefully someone can help me soon.

GeorgeUK

When was the last time you made a payment towards the debt or acknowledged it in writing?

Edit: Do you have a CCJ for this debt?
Did they send you a Statutory Demand?
Or just a letter saying they MAY make you bankrupt?

king100

Ask them for a valid copy of your CCA, templates are all over the internet for it. That would be my 1st thing I would do.

king100

GeorgeUK wrote: »

When was the last time you made a payment towards the debt or acknowledged it in writing?

Edit: Do you have a CCJ for this debt?

Wont be SB yet?

CDaniels1987

It was when it was owned by Aqua! I was extremely stupid back then, and I know I should of acknowledged this by now or offered some kind of repayment plan but you know what its like when you have quite a bit of debt and no money and dont know where to turn, and then I completely forgot about this debt when I didn't hear about off them for a while and sorted my other debts out.

immoral_angeluk

It sounds like what you have received is statutory demand. You need to apply to have this set aside and agree a payment arrangement in court. Do NOT ignore it as if you fail to comply they may well petition for your bankruptcy which is very difficult to argue. I would advise taking the letter ASAP to your local CAB who will be able to assist/advise you on what you need to do to have this set aside.
You need to apply to have this set aside BEFORE you do any CCA requests etc as stat demands have a strict time limit to adhere to so you need to deal with this right away.

king100

When was last payment made to that card, unless my maths is wrong you took it out at 18 now 23 that makes 5 years, last payment needs to be over 6 years.

GeorgeUK

king100 wrote: »

Wont be SB yet?

Just wondered how long it would be until it was - 5 years in Scotland, 6 in England.

It may be another threatogram, but was wondering there had been a CCJ or decree awarded against the account or if this was a Statutory Demand. Is the letter saying they MAY make you bankrupt or that they will?

immoral_angeluk

GeorgeUK wrote: »

Just wondered how long it would be until it was - 5 years in Scotland, 6 in England.

It may be another threatogram, but was wondering there had been a CCJ or decree awarded against the account or if this was a Statutory Demand. Is the letter saying they MAY make you bankrupt or that they will?

If it's 3 pages long and talking about bankruptcy it sounds like a stat demand. Creditors don't have to have gotten CCJs or even issued defaults before they can issue a stat demand, and they're becoming more and more often nowadays. So long as the debtor owes over £750 and is unable to pay their debts as they fall due (the creditor would be able to argue this due to the debtor's persistent non payment) then they can petition for bankruptcy and usually get it.