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Hi - I am looking for advice. I have an old HSBC debt which was sold on to Arrow in approx 2011 for 11k - The debt was an amalgamation of loan and overdraft (approx 16k which I had paid via step change until 2016) It was only specified as an o/d with Arrow - Have gone down the prove it route and Dryden Fairfax have come back to me saying they will take me to court and also to provide income and expenditure. My Parents have offered to help clear the old debt and Im hoping to offer around 2-3k as its quite old and no longer on my credit report. Any advice on how best to proceed otherwise I will just have to go back onto a monthly payment plan for about £30 per month.
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Sorry forgot to say that DF have sent the original agreement for both the loan and the OD (the overdraft agreement was not signed). -
How much is the balance of the debt now if you have been paying it off via Stepchange? * Essentially you have pursued the ‘prove it’ route and the new debt owner has provided the correct agreements. Who is the legal owner of the debt now?*Comment
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Thank you Leaf - The debt is now with Arrow Global *(Formerlly NCO?) The balance on the deb is 11k so I have paid just over 5k off through step change but have really only made £1 payments for the past 3 years as it was along time before they could dig up the original signed agreement when I sent the first prove it letter - it was around this time that I made an offer of 20% of the debt but they rejected it.Comment
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Ok, so it would be well worth contacting them and making a F&F offer. If they reject it, ask how much they would accept to give you a goal. If you don’t do something, it is very likely they would take you to court to enforce, which would lead to a CCJ so try and get things on track by agreeing a payment plan if settlement is an option right now.*Comment
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Thank you - much appreciatedComment
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