Demands from PRA Group - formerly Aktiv Kapital

[hdavi1]

Hello Everyone

My husband received the first demand from Aktiv Kapital (now PRA Group) in Nov 2010. It was for £2620.43 for an account with GE Capital Bank Ltd. Over the years (Usually at the beginning of the year) he has received update account letters adding interest to the debt. The letter in Jan 2015 didn't add any interest. The most recent letter from PRA Group says the account stands at £2926.83 and states this time he can pay £142.60 in Full and final settlement. Should we pay this? Will it stop all the letters and worry? My husband can't even remember having an account with GE Capital Bank but did have a lot of money problems before we got together in 2009 so probably did.

Helen H

[nemesis45]

Re: Demands from PRA Group - formerly Aktiv Kapital

Hello Everyone

My husband received the first demand from Aktiv Kapital (now PRA Group) in Nov 2010. It was for £2620.43 for an account with GE Capital Bank Ltd. Over the years (Usually at the beginning of the year) he has received update account letters adding interest to the debt. The letter in Jan 2015 didn't add any interest. The most recent letter from PRA Group says the account stands at £2926.83 and states this time he can pay £142.60 in Full and final settlement. Should we pay this? Will it stop all the letters and worry? My husband can't even remember having an account with GE Capital Bank but did have a lot of money problems before we got together in 2009 so probably did.

Helen H

Hello Helen.

Welcome to LB.

Is that settlement figure correct £ 142.60??

If it is it would be an incredible discount AK/PRA have never been the cleverest bunch!!

nem

[charitynjw]

Re: Demands from PRA Group - formerly Aktiv Kapital

If they can take that kind of 'hit' on the alleged debt, I wonder how much it cost them to buy it?

Possibly statute barred?

[hdavi1]

Re: Demands from PRA Group - formerly Aktiv Kapital

Thanks for the replies guys.

The details on the letter say Opening Balance £2926.83
Adjustments £-1500.85
Closing Balance £1425.98

Single Payment Settlement Option. Full and final settlement of £142.60

Possibly a typo? Although I have read they can buy these debts for 10% total value?

[charitynjw]

Re: Demands from PRA Group - formerly Aktiv Kapital

Thanks for the replies guys.

The details on the letter say Opening Balance £2926.83
Adjustments £-1500.85
Closing Balance £1425.98

Single Payment Settlement Option. Full and final settlement of £142.60

Possibly a typo? Although I have read they can buy these debts for 10% total value?

10% of £1425.98 is £142.60.

Imho, they're not going to waste time & money just to get the purchase price back; it wouldn't be economically viable.

[nemesis45]

Re: Demands from PRA Group - formerly Aktiv Kapital

GE issued branded store cards for a number of major retailers could be one of those.
Possibly statute barred and an attempt to pick up a few quid.

Is this on his credit reference files? Be worth checking before doing anything Noddle is Free Online.

Two options pay off now or challenge as statute barred i.e. 6 years with no payments or written acknowledgments
made.

nem

[hdavi1]

Re: Demands from PRA Group - formerly Aktiv Kapital

Thanks Nem
No this isn't on his credit reference files that's what's so confusing. What I don't want to happen is - pay the amount on the letter and then get hounded as the payment would be acknowledgement of debt?
Helen