Springcoin/Avantcredit

rjh1212

Hi I took out a loan back in Dec 2014 for £4500 with Springcoin... the monthly repayments were around £176. After only a few months of having this loan I received an email to say spring coin was now avant credit and i was to pay them each month instead. I didn't hear anymore from them and at the time lost my job and couldn't afford the payments anyway.
A few months ago i started to receive emails from avant credit offering for me to clear the loan for as little as 30% of what I owe then a few weeks later another one saying for as little as 15%... as I have not really heard from avantcredit other than the odd email I just ignored these. I have now after nearly 3 years received a letter from a debt collection agency (Asset collections) saying I need to pay avantcredit the fulll £4156.14 within 7 days.
I really don't know what to do as I don't have that kind of money... do i have to pay avant credit as I borrowed from spring coin? any advice would be great please

Rich7111

Yes, it's the same company, just changed names. Shame you didn't contact them when they offered you to pay just 15% of the debt back really, you could have even asked to pay back in installments if needed.

I would take the letter seriously, they could take further action (IE) through the courts. I understand your situation, however, even if you offer a couple of quid a month it will be worth it until your situation improves. Paying nothing could make matters worse

sourcrates

I’ve posted before about avant credits money worries, 15% was a great deal, you could try making the offer of 15% to them again, see what they say.

However,

Asset collections have bought your debt now so it may be too late.