I have received a letter from TBI Financial services solicitor regarding a debt which is well over 6 years old (I believe in Scotland it becomes statute barred after 5?). I believe the debt may be mine but I have had no correspondence regarding this for well over 6 years and not made any payments for longer than that. The sum stated in the letter seems way in excess of any loan/agreement I had in the past.
The letter received states:
"We are solicitor for TBI who are the Assignees of the benefit of the Credit Agreement you had with HFC Bank.
Please take this letter as formal notice on behalf of TBI that, by an Agreement dated 17th December 2004, HFC sold and assigned all of their rights, title and interest in and to, inter alia, the Credit Agreement which they made available to you and any related security and guarantees, to TBI.
We are instructed that there is the sum of £5xxx as at today's date owing to our client company on this Agreement, and we are further instructed that unless we receive either your realistic proposals for clearing this sum by 7th February 2011 or a bankers darft for the full balance outstanding, proceedings will be instituted against you for the full balance outstanding without further notice. We must advise you that should proceedings be issued then you will, of course, be liable for all additional costs and expenses which the Court may award against you, in addition to the sums quoted above.
We also put you on notice that it is our client's intention to enforce any judgment obtained against you by way of Letters of Inhibition given your interest in the property at XXXXX.
We trust this will not be necessary and look forward to hearing from you by return."
Help and guidance would be gratefully appreciated!