lowell /statuebarred

FOURCANDLES_2

Hi guys my friend has just shown me a letter he received today it states it is a settlement offer, at the top its says

MR R BLOGS-VLOWELL PORTFOLIO1 LTD/STATUE BARRED DEBT
Then goes on to say the debt is for £545 but they will accept £103 full and final settlememnt.

what is this mention of statuebarred? is it a trick to get him to conatct them?

phil80

Statue Barred debt means that they cannot take him to court to claim the money back. There has been no payments to the debt for 6 years 5 in scotland. They have reduced the payment so much just to try and claw some of the money back at least.

FOURCANDLES_2

so now they have to say it is staue barred?

fermi

Not necessarily.

Unless the OFT have given them a kick up the bum that we haven't heard about publicly yet?

To your knowledge, is it statute barred?

If you are certain it is, then you can obviously respond telling them where they can place their offer.

If you are not sure, then it's best ignored.

FOURCANDLES_2

well we think it is, I think it is time he got a credit report. most of his debts are rather old 6,7,8,9 years a few 3-4 years, some never ever issued a default how does that then work?. with the statued barred I thought it may have been a trick ie the debtor phones up and says it is statued barred they then say no its not . However when you say acknowledge the debt is this by letter or payment only? as surely they cant say they had a phone call?. I would also ask one of his debts keeps sending a letter and saying you stopped payment 6 months ago he has not paid them for 7 years what's that about??.

fermi

The Limitation Act 1980 is very clear in how it defines this..

Either payment or acknowledgement can reset the 6 years if it hasn't gone past that point already.

If it has gone past that point, then it can't be reset, no matter what you do.

Payment = payment by you or your appointed representative.

Acknowledged = Must be in WRITING by you or your appointed representative, and SIGNED by the person making it.

Telephone calls, even if recorded, do not count as acknowledgement.

Culex

FOURCANDLES wrote: »

Hi guys my friend has just shown me a letter he received today it states it is a settlement offer, at the top its says

MR R BLOGS-VLOWELL PORTFOLIO1 LTD/STATUE BARRED DEBT
Then goes on to say the debt is for £545 but they will accept £103 full and final settlememnt.

what is this mention of statuebarred? is it a trick to get him to conatct them?

Does the letter suggest or state that they might sue to recover that alleged debt, or that a "field agent" might call?

FOURCANDLES_2

No the letter does not mention court agent calling etc etc just give this money and we will forget the rest.

FTW

FOURCANDLES wrote: »

No the letter does not mention court agent calling etc etc just give this money and we will forget the rest.

Ignore it - they're clutching at straws.

If they were 100% sure they could get the full balance, no way would they offer any kind of a discount.

Besides, even if you did agree to their 'offer', there's nothing to stop them selling the balance off to another DCA later on down the line - and that's why I don't recommend F&Fs.

Culex

FOURCANDLES wrote: »

No the letter does not mention court agent calling etc etc just give this money and we will forget the rest.

What?

Did they not even offer a fancy, hand-illuminated certificate to put on a wall, or the inducement of a gold star for your star chart?