No statement no contact in 8 years

mctb

8 years ago my business closed. I handed the vehicles back I had on lease purchase but on the sale it was 11k sort, I went into a DMA but the lease company refused so an a agreement for £50 a month was agreed with interest fees frozen and to be reviewed thats the last I've heard from them 8 years have now past i pay the £50 a month but have not received any statements FCA notices etc. Advice welcome

[Deleted User]

Ask them how much is remaining.

It's in your interest to understand how much you owe and they may accept a partial settlement. However, you're under halfway there, based on your figures.

Clive_Woody

Sounds like you will have paid around £4800, so there will be around £6200 still to pay. At the current repayment level you have another 10+ years of payments to make. You could increase your monthly payments to clear the debt quicker, but if there is genuinely no interest being charged you don't save anything by doing this.