Hi Consumer Action Group.
I've been following this forum for years, but have only signed up today.
I took out a £5K loan with the Enterprise Fund to start a business in 2013.
The business failed.
I initially put the debt into a debt management plan, then stopped paying into it in 2017.
Recently, a debt collection agency called Vilcollections wrote to me, saying I have 14 days to pay the debt.
Worried that this could lead to a CCJ (I think their 14 day warning letter is a legal prerequisite to a CCJ)
I wrote back and requested the credit agreement within two weeks.
Around five weeks later, they replied with the legit credit agreement.
I was thinking to offer a full and final settlement at 20% of the price.
What does everyone else here think?
Is the debt enforceable?
Thanks for all the great information on this forum so far.
All the contributors here have helped me a great deal.
I am grateful to you all.