I've received the following letter from Lowell solicitors regarding a default from 2012 for about £1700.
I've previously tried to negotiate a settlement figure but got very little response. Although I have found a letter they sent last year offering a 60% reduction in the debt.
Any suggestions on my next course of action?
PAP LOC (1).pdf
Defence
1. The Defendant entered into a Consumer Credit Act 1974 regulated agreement with Vanquis under account reference xxxxxxxxxxxxx (the Agreement')
2. The Defendant failed to maintain the required payments and arrears began to accrue.
3. The Agreement was later assigned to the Claimant on 24/06/2015 and notice given to the defendant.
4. Despite repeated requests for payment, the sum of £1,750.29 remains due and outstanding.
5. And the Claimant claims