SETTLEMENT OFFER - MOORCROFT

sourcrates

Jones_222 said:

runforlife said:

sourcrates said:

The fact they are offering to settle a near 5k debt for less than 2k makes me suspicious.

That gives a strong hint they may not be able to provide legally enforceable paperwork for this debt, have you CCA`d any of your accounts yet ?

You should do so, before settling anything.

Yes, I had Cabot offering 80% off over £6000 debt. CCA’d them and they replied saying they hadn’t got it. Haven’t heard from them now in 2 years.

Once this happens and they can't provide the CCA do you then just stop paying the debt and forget about it?

Yes, basically, that is an option a lot of people choose.

That may be out of your comfort zone, but you have to keep in mind most debtors have more than just one debt.

Some have dozens of different creditors, in these situations you may find you have to prioritise payments, and having one less debt to worry about can only be a good thing.

Collection activity may still go on, but debts with no legal paperwork can`t be enforced, and eventually they will become statute barred.