Lowell offer 75% off on 6 year debt

Lil_frazzle

I have a vanquis card debt which is almost 6 years old now and they've offered a discount. I've never replied to any of their previous debt letters of which there are three outstanding debts.
I was wondering it it is worth paying or is it going to drop off my credit file at all and that's why they're offering such a discount.
I'm not sure how any of it works to be honest. Just have not been in a good enough position to pay any.

fermi

Almost 6 years old in what sense? Just the credit file entry/default?

How long since this was last acknowledged by you in writing or by making a payment?

If Lowlifes are offering a 75% discount then sounds possible they think it is statute barred or otherwise unenforceable.

sourcrates

Hi,


They can still chase you for debts older than 6 years, the crux of the matter is if you have paid anything, or formally acknowledged the debt in writing, at any time during those 6 years.


Only if the answer to that is no, can you consider the debt to be statute barred.


Lowell specialise in buying up old delinquent bulk debts, that may have questionable paperwork, for next to nothing, so even if they get 25% off you, they still make a profit.


Lowell also have a habit of starting court action on debts about to become statute barred, so you need to be careful here.

Lil_frazzle

It was in 2009 that my last payment went through and I haven't spoken to them or replied to any writing whatsoever since then. it defaulted in January 2010.