Debt Questions forum. General questions on debt issues.

Moderators: TalbotWoods, JaneClack

By bigman
#462643 good morning I have a debt which is statue barred the debt company every year send me a pay now and only pay 5% they pay 95% is this letter actually legally binding if I accept or will it make me liable to the full payment because I have then accepted or made a payment on the debt
bigman :?: :?:
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By TalbotWoods
#462663 Hi Bigman

Oh how low can they get, (and no Chihuahua Jokes) if they know it is barred they are chancing their arm asking you pay anything.

Having said that the law is actually clear on this, the debt may be barred, but they are still legally allowed to ask you to pay it, and from what you have said a once a year letter is kind of good, as it could be a lot worse!

But back to the main point, as this debt is ALREADY barred, then it will remain barred even if you kindly donate a 5% lump sum to the companies owners 3 month holiday in Jamaica Fund. OK they will have their cut and I would bet you a another 5% that they would flog the debt to another bottom of the bin buyer who will hassle you like mad! This debt will have cost them less than 5p in the pound to purchase, so no skin off their nose.

But as for them accepting this as a full and final, YOUR REPRESENTATIVE would have to make that offer for it to be fully binding on them. Unfortunately as it would not be binding, we have seen these low values sold on time after time when someone finches. So dont!

In the case that a debt is barred you really need to get this put to bed once and for all, so we suggest sending a Statute Barred Letter which can be found below: