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Help needed! Old debt?
ab3927
Posts: 5 Forumite
Hi
To cut a long story short racked up huge debt with multiple creditors in my early 20's. Over 2 years ago I went through my credit reports from all 3 agencies and contacted everyone I owed money too and after a long slog paid them all back (10k in total!)
Today out of the blue I have received a letter from 'The Money Shop' at my new address to say they have sold my debt onto PRA Financial/BW Legal for £384.71 and how to pay, no details of when it was from just the balance and reference number.
It states they will give me a 10% discount and update my credit file, it's never been on my credit file?
I'm so angry as I thought this was all behind me and I've now got a credit card, overdraft etc. which I am managing so well over the last 2 years ready to buy a house next year.
Do I acknowledge this letter as I have no recollection of it at all and will they now add this on to my file?
Thanks
To cut a long story short racked up huge debt with multiple creditors in my early 20's. Over 2 years ago I went through my credit reports from all 3 agencies and contacted everyone I owed money too and after a long slog paid them all back (10k in total!)
Today out of the blue I have received a letter from 'The Money Shop' at my new address to say they have sold my debt onto PRA Financial/BW Legal for £384.71 and how to pay, no details of when it was from just the balance and reference number.
It states they will give me a 10% discount and update my credit file, it's never been on my credit file?
I'm so angry as I thought this was all behind me and I've now got a credit card, overdraft etc. which I am managing so well over the last 2 years ready to buy a house next year.
Do I acknowledge this letter as I have no recollection of it at all and will they now add this on to my file?
Thanks
0
Comments
-
Hi,
Your first response should be the provit letter, available from here :
https://forums.moneysavingexpert.com/discussion/2607247
No one can just write to you asking for money, they must prove there claim when asked to do so, thats what this letter does.
Adapt it for your situation, and send it back to them, see how they respond.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Your credit files don't show all your debts.
The first question is - is it over 6 years since your early 20s when you were taking out credit? If so then a statute barred letter should kill this off.
If less than 6 years then the next question is do you agree you owe 'The Money Shop' £384.71?
If 'no' then send a prove-it and see what they come back with. This isn't a bad move anyway as it keeps your options open.0 -
Hi
To cut a long story short racked up huge debt with multiple creditors in my early 20's. Over 2 years ago I went through my credit reports from all 3 agencies and contacted everyone I owed money too and after a long slog paid them all back (10k in total!)
I took this to mean the debts were fairly recent, can you clarify please OP ?I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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