I have an old credit card debt from when I was younger and stupid with money due to fall off my credit file June this year.

Lowell have started writting to me again, it's been a good 2 years since I heard from them.

I suspect they know it's going to fall off my file and have come up with an offer to settle for 90% discount.

Is it better for me to wait until June or would I benefit from settling the debt at 90% discount?

after all its only going to cost me £300 which is pretty much nothing compared to my income now.

Lesson learned I guess!

my question is which does me the best favour credit rating wise,

it's frustrating I have good income now but because of things I did when I was in my early 20s I have issues borrowing for cars and a mortgage.

If they are offering 90% discount..you really should be asking why ? send them a section 77/78 request and ask for a copy of the agreement before even considering payment.

Regards

Andy

The problem with paying the money is that you will acknowledge the debt.

If this was me hang on for another month unles you get any sort of letter before action and ignore.

The most important thing is when was the last time you made any sort of payment towards this debt?

Just because it falls off your credit file does not make it statute barred

But that is me and you will have to decide what action to take

paying will not improve your score nor remove the default.

bit it will reset the SB clock

and leave you liable for the 90% when they sell it on as you've ack'd the debt.

begging letter!!

90% means its a lemon debt and they know they can NEVER enforce it at all. As advised, send the CCA request and laugh hard at them.

To add, there's either no paperwork, or the debt is long SB

The problem with paying the money is that you will acknowledge the debt.

If this was me hang on for another month unles you get any sort of letter before action and ignore.

 

The most important thing is when was the last time you made any sort of payment towards this debt?

 

Just because it falls off your credit file does not make it statute barred

 

But that is me and you will have to decide what action to take

Many many years ago 2010/2011 was that last time I made any payment

the last time I heard from the credit card company was then.

Lowell sent me a few letters in 2013/2014 but heard nothing or spoken to anyone since 2010/2011.

I just ignored Lowell and have moved 2 or 3 times since 2010.

Just ignore it completely. 90% means it is a lemon debt and they know they cant enforce it. Which is why t hey send a desperate begging letter but theyre so obnoxious they make it out as if theyre doing you a favour.

I will just ignore it then and wait for June to pass as it's at the 6 year mark then and I'm told it will drop off my profile when I spoke to Noddle.

shld've just ignored for abit to see if it gets barred. if you didn't want to settle (only settle, if at all, re a reduction if its re the remainder wont get sold on, but note it wld be a 'partial settlement')

nudging the cra may end up nudging the dca

statute barred then if you've made no payment since atleast 2010/11

lowells will always think SB = Defaulted DAte which is wrong.

shld've just ignored for abit to see if it gets barred. if you didn't want to settle (only settle, if at all, re a reduction if its re the remainder wont get sold on, but note it wld be a 'partial settlement')

nudging the cra may end up nudging the dca

I have ignored it they wrote to me I haven't replied to it or rang them.

Have had a couple of these - the 90% discount in both cases was followed by a letter a month or so later stating that following a 'review of my account' they had closed the file and would not be contacting me again

Certainly ignore unless and until something arrives which looks like a Letter Before Claim

have you moved from the address that you took this credit out at?

and they are blindly writing to an address they 'guess' you are now resident at?

have you moved from the address that you took this credit out at?

and they are blindly writing to an address they 'guess' you are now resident at?

If so there is danger of a back door CCJ.

have you moved from the address that you took this credit out at?

and they are blindly writing to an address they 'guess' you are now resident at?

I assume they've looked at my credit file to find me as they are writing to me and trying to ring me but I've blocked their number.

Letters they are sending are just settlement letters nothing else.

They haven't sent any threatening letters for years and years and as I said I've moved two or three times.

Come to think of it I don't think I've ever acknowledge it or spoken to them EVER I know they bought the debt from Halifax.

they know time is short-or expired so they are trying to get you to pay them something just to acknowledge the debt and then if you arent careful you will be lumped with a demand for the whole lot.

I would do nothing and if they send a lba you respond with a CCA request.

That will force them to get hold of the original documents which will waste more time and actually show what the reported default date was.

That is probably a couple of months out

so will give you more confidence that the debt is SB and they are just trying it on.

Think about it, why didnt they just send a N1 court summons rather than some stupid offer if there wasnt something dadgy?

retitled and moved to the Halifax forum.

dx

get a CCA request running to them

that will kill two birds with one stone.

inform them of you correct address

and put them to strict proof.

even if it is SB'd nor near

that wont stop them issuing a claimform to the address last registered to Halifax.

large discounts that are not bitten on

usually make them more confident they can get a backdoor CCJ.

dx

Does this form run the risk of restarting the clock on the default/debt? I cannot afford to wait 6 more years for it to clear.

no its a legal request

go read the full CCA request thread and all its posts

Does this form run the risk of restarting the clock on the default/debt? I cannot afford to wait 6 more years for it to clear.

You can always add the heading to the CCA request...." I do not acknowledge any debt with your company " if it makes you feel better but no a CCA request is not an acknowledgement of a debt.

Andy