1st credit 90% off letter

Iwannaknow

In 2004 I was at Victoria st and a man tried to temp me into taking out a barclays credit card. I told him there was no way I'd qualify as I was unemployed. But he said "we'll just lie and say u work in McDonald's"!

So he filled in the film and I signed it then promptly forgot about it. Until the credit card arrived through the post! And as I was unemployed, £300 on a bit of plastic with my name on was too hard to resist using.

So anyway. I spent it all, never paid a penny. Eventually they said I owed £771.05, my debt was passed on to 1st credit.

I never acknowledged any letters from Barclay card OR 1st credit.
I moved house and still they write regularly.

now they are offering me a "limited time discount opportunity"
So I pay £77.11 and that's it.

But I'm worried that if I ring them up and acknowledge the debt and pay the £77 that they will then press on for the other £700.

Where do I stand here? Am I better off ignoring or paying the offer?

Or is it a trap??!!!

PLEASE HELP!

many thanks
:xmastree:

antonic

I would venture that they want something from you which has all your contact details on , including your signature, so they can pursue you for whats outstanding plus all manor of charges.

Iwannaknow

So best not to acknowledge? How about this 6 year rule thing?

Thanks for replying!

raven83

bin bin bin comes to mind.

Gordon_Hose

Chances are it's already statute barred if it was back in 2004. Bin it.

HappyMJ

If a debt is statute barred and is still outstanding and a person dies does the estate still have to pay the debt assuming the estate has enough to be able to pay the debt? Or would paying 10% as a full and final settlement get rid of the debt.

FTW

2004? 1st Credit and offering 90% off? 1st Credit know they couldn't take it to court - why else would they offer 90% off?

Send them the 'statute barred' letter (but do NOT sign it) by recorded delivery, and if they continue to pursue, report them to the OFT.

paulmapp8306

Sounds like a Statute Barred debt 1st Credit are trying to get something back on.

That said - if they are offering 90% and state the debt will be fully satisfied (and you have it in writing) ??

I had a debt that got passed to AIC who offered 90% off for a full and final (including FULLY satisfied not part on my credit file). While the debt was 8 years old it wasnt Statute Barred as Id been paying it as part of a DMP. They do make these offers, especially if they have just bought the debt. If they buy it for 1p, 2p or even 5p in the £ (quite possible) getting 10p in the pound back is a big proffit for them.

If your SURE its Statute barred - sent that letter. If your not sure, and can afford it, AND the letter states full and final settlement and it will be recorded as fullt paid/settled on your credit file then it may be worth paying.

pauletruth

its as much thieft as it was fraud for their rep to fake the detail and for them to not check it. if it i barred it will not be on your credit file as it 6 years old. so you would be paying them for what benifit. the same rule should apply to a decessed person estate but it maybe worth checking on that. a lets lose the morals the banks would use the rules to milk you for every penny if they could.

cherylelizabeth1

Sorry to hijack this thread but...does anyone know where there is a template for the statute barred letter? I was sure I had seen one somewhere before but I can't seem to find it? Thanks!

cherylelizabeth1

Scrap that, found it now, silly me!!