Paying off old debt

john23liverpool

Hello all,

I had a couple of old defaults that "fell off" my credit report after the six years.

I thought I had paid them all off, but recently I received a letter from CCS collect saying that I still owe £497 to Cabot financial. This debt has fallen off my report as it was well over 6 years ago (more like 8).

I have a letter offering me a discounted final settlement for £248 which I would pay to get rid of the debt and settle the moral issue.

I just wanted to ask you good people for advice on wether me repaying this old debt will refresh the debt on my credit file? Or will it remain dead as the original default was more than six years ago?

Obviously if paying this money would refresh the debt on my report then they have got no chance of getting it!

Thanks folks

John.

[Deleted User]

It would remain dead. Well done on wanting to settle it.

Barpeeler

If you don't pay it they could apply for a CCJ which will then be on your file.
Either pay the settlement figure, or you could negotiate for a smaller figure or low repayment, worth a try?

happy_bunny_2

Actually, not paid or acknowledged in writing for 6 years and its statute barred. No CCJ if defended.

Likely the reason for the large discount.

It's not allowed to go back on your credit file.

Make sure they say that its a final settlement and the balance won't be pursued by them or anyone else. In writing.

HB