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A debt company saying they are the new administers of my account and are asking for payment
Mistii
Posts: 2 Newbie
Ive had a letter from Arrow global saying they are the new administers but it will be under capquest debt recovery ltd. They say i owe over £2300 for a lloyds tsb overdraft but i haven't had this account for over 10-15 years! Why am i receiving this and isn't it too late for them asking for a debt that i don't even know i had?
I really don't know how to respond as i don't want to contact them due to how long ago i had the account. Does anyone have any advice please? Thanks in advance.
I really don't know how to respond as i don't want to contact them due to how long ago i had the account. Does anyone have any advice please? Thanks in advance.
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Comments
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Are they actually asking for payment or just informing you of a change of ownership?
If the latter, do nothing.
If they ask for payment, send a prove-it letter1 -
Maybe ask for this to be moved to the main debt-free forum rather than in challenges? @sourcrates
OP send the prove it letter that is in the stickies at the top of the main DFW forum. If that comes back suggesting the debt is statue barred, send that letter later. But start with the prove it one.If you've have not made a mistake, you've made nothing0 -
moved to the wannabee board!I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions 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.
Click on this link for a Statement of Accounts that can be posted on the DebtFree Wannabe board: https://lemonfool.co.uk/financecalculators/soa.php
Check your state pension on: Check your State Pension forecast - GOV.UK
"Never retract, never explain, never apologise; get things done and let them howl.” Nellie McClung
⭐️🏅😇🏅2 -
Sounds like an information only letter to me.
If they are not asking for payment, then just ignore it, old debts don`t always go away, specialist debt buyers tend to obtain them in bulk, they buy the old statute barred or otherwise unenforceable accounts that have sat gathering dust for decades in some cases, that no one else wants.
They then try to extract the full face value from unsuspecting debtors who have long since forgotten about that old overdraft they had at 19, or that old first credit card they defaulted on 20 years ago, the debts will be unenforceable due to age (limitation act 1980) or some other reason.
Problem is Joe public is not always that well informed about the collection of old debts, and some will pay without question, hence why they do it, its easy money for them, others, like you, will ask for advice first, so well done for that.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-letter1 -
I think the key here is to let us know what comes next1
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Thank you, to all of you, as you may notice im not clued up on forums, actually i think this is the first time i have posted to one! Hence, why i have posted in the wrong place,
. I will have to read more on which one i should have posted on. But, i am grateful to each of you for taking the time to reply and the advice that you have offered 
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