Please can you can help.
Today I had a letter from IDRWW regarding a debt from 2009 to HSBC Middle East. I took loan out to pay a debt, lost my job, had to leave the region due to visa rules, was unemployed & had long period of instability.
I had given my parents address when taking out the loan and have had zero communication regarding this debt since 2009.
It's a relatively small sum of money (£2700) but i'm self employed on a low income so can only afford very small repayments at moment... I'm very anxious about how best to deal with it as I fear it will escalate into a bigger problem. I fear they won't accept my small repayments - and could dump load of extra penalties on me that would make it unmanageable.
In principle i'd be happy to pay something as I prefer to clear my debts ....what is the precedent for dealing with this?
Thanks in advance for your time reading this.