Help end this debt please.

A question about : Help end this debt please.

Hi there, I want to make 2012 the year I make a new start and get totally debt free and would like some advice/ reassurance that I am doing the right thing please? I will try keep this short as I can.

Around the year 2000 I split with my partner whom I shared a rented property with for around six years, we had joint current account with a small Ј500 overdraft and I had a few loans in my name totaling around Ј5000. I also had a credit card with a Ј2000 limit that was pretty much maxed out at all times. I eventually defaulted on all of these accounts after losing my job in mid 2002 and I have been in and trying to get out of debt ever since.

For some time I ignored things and then the debts were passed on to several different debt recovery companies who rang at all hours demanding payment in full or else, you know the score.

I started back to work in 2005 but earn a low wage and ever since have slowly but surely paying everything I owe off. I am at the moment left with three accounts that I pay to Capquest for the two defaulted Bank loans and one account for the credit card.

I now have left to pay to Capquest approx Ј600 on the CC account which I have been paying at Ј15 per mth with 12% interest and and Ј560 and Ј220 left on the bank loan accounts that I have been paying at Ј10 per mth to Capquest with no interest. I have been paying this agreement from 2008 and seems like its never going to end. I was offered a final settlement fee from Capquest on the credit card account back in October last year for Ј480 to close the account but just couldnt do it at the time so carried on with the monthly payments.

I have tried vey hard and have managed to save a few hundred pounds, do you think if I was to make a full and final offer they may accept it? I may be able to stretch to Ј400 if they would be willing to clear all three accounts. What do you think please?

And just when I think I may be starting to see the light at the end of the tunnel I received a Notice of visit letter from a company called Rossendales and a phone call asking that I pay Ј490 that I supposedly owe to Aktiv Kapital, I said i didnt know anything about this company on the phone I am pretty sure I have payed everything else off and I have no idea what this could be for, should I send a prove it letter to these guys?

I need this to be over once and for all so i can start fresh. If it makes a difference I am in Northern Ireland.

Best answers:

• I can't help with Aktiv, but I'm sure someone will be along with some advice.
  As for the other one, why not make the full and final offer and see? Even if they said no, you won't have lost anything by trying.
  Best of luck.
• I would be tempted to ignore Aktiv Capital. If you hadn't heard about this debt all this time, most likely it's statute barred... assuming NI goes by the same rules (I have no idea!). So either ignore them if you're feeling really brave or send the prove it letter
• Yes if it was a debt I have overlooked then its got to be before mid 2002 or earlier.
  I have checked my credit report from experian, equifax and noddle and there is nothing apart from my up to date mobile contract and a CC with 500 limit and crazy interest rate (never any more than Ј25 on it and paid straight away just to get my green tick every month)
  I did notice that on my equifax report that there was an entry in the financial associates linking me to my ex and the entry was made by, what I believe to be a tv rental company we rented from at the time, nothing was owed on this account and it was closed by myself after we split, how do I get this association removed please as I doubt its doing me any good as my ex partner wasnt great with money either.
  Regards the Capquest offer, should I make an offer for each account or for the total amount owed? Thanks for all your help.
• Hi again, I have received now a reply to my full and final offer from capquest and not sure what my next move should be apart from to just keep paying the small monthly payments forever.
  The reply said that my offer of 30% for each account was unacceptable and that I should contact them on the supplied tel. number to discuss the matter by the 20th of the month, the account would be passed to the collections dept after that?? I have been paying their collections dept money every month for almost 5 years now.
  I really cant afford to offer any more, any advice please?
  Thank you.
  PS. I managed to get my credit report associates updated thanks.
• i thought when loan companies put you on a payment plan that they usually froze the interest - this doesnt appear to have happened in your case and so the amount's just staying moreorless the same. It's very disheartening.
• "The reply said that my offer of 30% for each account was unacceptable and that I should contact them on the supplied tel. number to discuss the matter by the 20th of the month, the account would be passed to the collections dept after that?? I have been paying their collections dept money every month for almost 5 years now."
  Ok, this is what I would do say you have come into enough money that will enable you to pay a full and final settlement (templates on this site) and you can afford to pay a maximum of 35% (if you can afford to pay them that).
  Ask for them for all contact to be in writing (never agree anything on the phone and never pay them over the phone get all in writing).
  You never know the extra 5% can make them change their mind (if you want it payed now) otherwise, keep going as you are making payments and offer the same 30% later on (3-6 months later)
• Unfortunately 30% is all I can get my hands on at this time to make an offer. I will write asking that they should keep any futher correspondance in writing and if they will not be willing to accept 30% then can they write back with a percentage if any, they would be willing to accept to close the accounts and see what they say. Do you think If they will not accept anything only 100% then I could ask them to stop the interest on the credit card account to help me clear it faster?
  Am I within my rights to ask them for a complete statement of all payments I have made from the very start? I have virtually no paperwork apart from a letter confirming my agreement to pay by small monthly payments from 2007 and a statement covering part 2010/part 2011 and thats it. There was a period of approx eight months if I remember in 2008 where they said they had not been receiving my payments and arranged a new agreement, I have been keeping all my receipts for the postal orders and sending the payments by registered post ever since.
  Sorry to keep asking questions, you folks are big help thanks.