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£5k Debt With Vil collections - They Produced a Credit Agreement

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Hi Consumer Action Group. 

I've been following this forum for years, but have only signed up today.


I took out a £5K loan with the Enterprise Fund to start a business in 2013. 

The business failed. 

 

I initially put the debt into a debt management plan, then stopped paying into it in 2017.  

Recently, a debt collection agency called Vilcollections wrote to me, saying I have 14 days to pay the debt. 

Worried that this could lead to a CCJ (I think their 14 day warning letter is a legal prerequisite to a CCJ)

I wrote back and requested the credit agreement within two weeks. 

Around five weeks later, they replied with the legit credit agreement.

I was thinking to offer a full and final settlement at 20% of the price. 

What does everyone else here think? 

Is the debt enforceable? 

Thanks for all the great information on this forum so far. 

 

All the contributors here have helped me a great deal. 

I am grateful to you all.

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Hi and Welcome to CAG

 

We cant state whether it is enforceable or not without sight of the agreement....please scan redact and upload for opinions.

 

Regards

 

Andy


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Also, even if it is 'enforceable' that doesn't mean they will attempt to enforce it.

Edited by London1971

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ask yourself who actually owns the debt? did you ever get a letter of assignment for it and have you being getting regular annual statements from anyone.

You can bet that their is somehting wrong with this and if they have purchased the debt they wont have paid more than 10% of the book value so will double their money even if you pay the reduced amount.

 

they have a snazzy web site telling peopel how legit they are but currently they are trading unlawfully as they are a dormant co and have been for 2 years at least.

you cnat owe them £5k because they only have assets of £100.

If they write again tell them that they arent legally trading and according to their own accounts arent owed any money

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as far as I remember vil don't buy debts so cant do court themselves

who is their stated client on their letter.?

if they state one ignore them.

 

dx

 


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