Can i make the Debt Recovery Agency an offer?

thecrawfords

I am wondering if anyone can give me any advice....
I am trying to improve my credit rating, i have an outstanding debt of 393 pound.
The debt is now with a Debt Recovery Agency, the original debt was with Lloyds Bank, started 2007.
Does anybody know if i can make them an offer i.e 300 pound to clear the debt there and then?
Thanks

rickysaving

which debt agency is it? you will be able to settle on the debt and may be able to do less than 300... i would start at 30% of the debt to be offered... they can only go higher..

thecrawfords

Its with a company called Lowell

fedupwithlowell

thecrawfords wrote: »

Its with a company called Lowell

Omg im going through hell with this mob n their bullyboy tactics whatever you do do not pay them with your debit card I did n they started taking money out of my accout without me authorising it also dont give them a phone number you will be inundated with calls night n day I was always under the impression that after 5 years in scotland 6 yrs n england the statute of limitations come into force so if your debt was 2007 this debt should be scrubbed hope this helps

fatbelly

If you haven't made a payment or acknowledged the debt in writing since 2007 it may be statute barred. In which case they would be lucky to get anything from you.

If you have been making payments since 2007 then it's still enforceable but they ought to be open to a settlement offer as they will have bought it for a pittance.

Maybe start at 33% and see what they come back with. Whatever you offer, their kneejerk reaction will be to try to argue it up.

thecrawfords

Cheers for your advice guys!
I last made a payment in 2009 (proberly should of said that before)
If it is Statute barred will it stay on my credit file?

"fedupwithlowell" sounds like your having a bad time with them, hope they get off your case soon!

happy_bunny_2

Drops off your credit file after 6 years from default paid or not.

Not statute barred until 2015 unless you pay again in which case it will be later.