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1st Credit 95% Discount - Should I pay them


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Hi All,


I received a letter today from 1st Credit regarding an outstanding debt from First Direct.


The debt is for £2545.47, and they have made an offer, if i pay 5% (£127.28) before the end of the month, then they'll pay (write-off) the remaining 95%. Or pay 10% next month, or 15% the month after etc.


A little background:

This isn't the first letter I've had from 1st direct with this kind of offer, but it is the first one offering such a huge discount.

The First Direct account is from somewhere around 2001/2002 time, and 1st Credit have been chasing it for years - I am unsure whether this is actually statue barred as I can't remember if I made any payments to First Direct all those years ago, but I do know I made a £50 payment to 1st Credit in 2009, so not sure if this restarted the SB timer or it was already SB before then. The original default however is not on my credit reports anymore.

I usually just ignore these kinds of letters, and figure I may react either when a court order is made (unlikely) or when I actually have spare cash to deal with them off my own steam.


I realize that this debt is probably unenforceable by First Credit,( although there is a slim possibility it may be if I'm really unlucky) due to the way they don't just go through the courts, and keep sending these kinds of offers every month, but there could be some peace of mind knowing that the debt was actually settled if I paid the 5%.


So, since the 5% is a really good 'offer', and actually a sum I can afford at present, is it worth paying them, or should I just continue ignoring?


Also, will they send me some kind of proof that this payment is full and final settlement, or do I just have their word that it's done and dusted?


Oh, and one more question, by paying the 5% is there any possibility it could resurrect an entry on my credit file by entering a settled marker or something - my credit files are almost clean nowadays, so wouldn't want to jepordise all the hard work I've done over recent years in cleaning them up.


Thanks in advance.

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Your answering all your own questions.


A payment made on a debt which is statute barred will not unbar it. So if you were conned out of £50 in 2009 and had paid nothing since 2001/02 then it will have been SB and they robbed you of fifty nicker.


A 95% discount is far too good to be true, so ignore it, pay them nothing, hell even ring them up and laugh at their pathetic attempts to con you out of money you don't owe!


If it isn't on your credit file, and you make a payment towards it then NO they cannot add any other default marker on your CRF.


Tell them to go play on the motorway.


It's SB end of. Who are these bunch of jokers anyway? Not lowlifes again with their newly bought portfolio of statute barred debts?

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!



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if they are offering you such a huge discount, ask yourself why! DONT FALL FOR IT. the dcas are finding it really hard these days, they will scrape the bottom of the barrel, as many times as they can:madgrin:

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