Old payday loan debt - should I pay it all off?

DS2022

macman said:

At £25 per month on a £350 debt, you'll have cleared it in 14 months. Where are you getting 2.5 years from?

That's when the default will be 6 years old 

LaDerniereSemaine

Unless you have the money to pay it off in full, cutting off the payment in the hopes of cutting a deal puts you in a very weak position, and leaves you wide open to a CCJ.

Ignore MalMonroe's advice, it is very seldom correct.

You can negotiate over the credit file issue but at a minimum I'd expect they'd ask for a full repayment, and even then if the original lenders reports are still there, the impact will be non-existent.

Probably best to just pay it off and move on.