Advice

PJSBen2809

Hi,

Could anyone advise me on the following. 5 years ago I got divorced and came out of the marriage with some debt. I defaulted on about 6 accounts. I partially settled some, one I have been paying and that is also now settled and two are outstanding. One of the debts is £1600, the other £11k. The £1600 one is 6 years old on 6th September this year, The £11k one is 6 years old on the 8th August next year.

I've recently come into some money - not a huge amount (£4k) and want to try and settle the debts if possible. The £11k debt is with Capquest, I've never acknowledged it but I can see it on my credit file. All of my defaults barring that one will be gone from my credit file on Sept 6th.

I've been reading some of the threads on here saying Capquest are a nightmare etc etc, should I try and settle it? Leave it? I'd rather just put it all to bed once and for all, providing they accept a lesser amount.

Any advice here would be appreciated.

Thanks in advance.

Bouncybubbles

you could offer them a full and final amount to close the account with it being so old. these are normally around 30% of the original value. I do not know specifics about capquest but I reckon its worth a go. I imagine someone on here will have a template letter you could use? I also think there is a full and final offer thread somewhere

National_Debtline

Hi

The defaults will drop off your credit file after 6 years regardless. You can either wait and see whether the debts become statute barred, or try the full and final settlement offer if you want peace of mind now.

There is a full and final settlement template letter here you can use to make an offer with. Make they accept your settlement offer in writing before you make the payment.

www.nationaldebtline.org/EW/sampleletters/Pages/Full-and-final-settlement-offers-(sole-name).aspx#

James
@natdebtline

PJSBen2809

Thanks James.

To be honest I would rather try and settle so I close the door on the whole thing, however I am mindful if I phone\write to them I am acknowledging the debt (finally).

Paul.

fatbelly

PJSBen2809 wrote: »

Thanks James.

To be honest I would rather try and settle so I close the door on the whole thing, however I am mindful if I phone\write to them I am acknowledging the debt (finally).

Paul.

Phoning does not count as acknowledgement, neither does the ND letter as it is headed 'without prejudice'

PJSBen2809

What about any email correspondence?

fatbelly

PJSBen2809 wrote: »

What about any email correspondence?

Case law says email is 'writing'