Mortimer Clarke

[kelike28]

Very old debt with Capital One, i have had letters over the years and replied asking for all relevant info (CCA etc) never had anything but a few old statements. From MC yesterday i had a mixture of statements of sorts just showing money in and money out not the actual transactions, there are T&Cs included, the CCA and the letter saying Cabot now owned the debt (2015) and an expenditure form. I am about to email/write to them to ask for a settlement - how should i go about it. I have just got myself sorted and my mortgage is about to go through so am worried this could turn bad for me. The credit limit was £200 and the amount owed is £458.67. I have no idea how it is more than double and can only assume charges as the card wasn't or hasn't been used for many years. Any advice would be great.

Thanks

[jaguarsuk]

Okay so sending the documents doesn't necessarily mean they are complete and enough to win a claim. For example they have to be legible and if in the terms they refer to other terms, such as those of a PPI policy or any other document those need to be provided too.

Obviously this is your situation and affects your life, given the mortgage is about to go through I completely get the reason to settle.

All reference should be made to the "alleged debt" as you don't admit anything. Head the correspondence "Without Prejudice" to protect you position.

In making an offer remember that they have paid about 1p in the pound to buy the debt and so at purchase rate around £4.58 you are going to be paying them a nice profit.

Start with an offer of £137.60 (30%) and they will probably try to work you up to around the 50% mark.

In the letter state that you are a busy person, that you don't have the time to deal with this and for the sake of an easy life you propose a settlement.

Make sure that you ask them to confirm they accept any amount you get to as "full and final settlement" in writing.