What sort of discount should I be looking at from debt collection agency

glynowen81

Hi just wondering if anyone can please help me. I have an outstanding debt of £3,700 ( was orginally £6,500 9 years ago)which is in the hands of CAPQUEST. I have only been paying £5 a month on this debt for the last 5 months. I have recently found employment with good pay and I am looking at pay it off in August.
What sort discount should I expect from CAPQUEST to close the account in August.

Many thanks

bottleofred

Hi glynowen,

I would start with an offer of around 20% and take it from there. ALWAYS deal with full and final offers in writing only though and make sure the letters from the debt collection agency have the words "full and final settlement" for the agreed amount. Out of curiosity, was there ever a 6 year gap between any payments, as if so, the debt would then become statute barred! A debt becomes statute barred if there has been no payment made or written acknowledgement of the debt in 6 years.