I was stupid enough to use my personal credit card for business travel costs in 1996. The business got into difficulty in 1998 and I was unable to continue paying. After the normal threats, the credit card company (HSBC) sold the debt to a collection agency who again threatened court action. I agreed to pay a monthly payment, but was unable to keep it up. The first agency sold the debt on to another and the same thing happened again – three times!
I moved house and there was no action for a while, until the last collection agency sold the debt on to another, by the name of Go Debt. By this time the ‘debt’ had ballooned to almost £12,000.
The Go Debt telephone agent was pretty good, starting off in an easy conversational manner, but getting more aggressive. By this time I was beginning to see what was going on, so I was a bit more aggressive myself. When I got a letter saying they would accept 30% of the debt and would even give me cashback for immediate payment, I knew they were weakening. If they really were entitled to pursue me for the whole amount, why would they be content with only 30%? Here’s their offer:
It was a pretty tempting offer, but then I got together with a highly qualified lawyer who told me what to write back. A single Debt Killer letter brought this result a month later:
Was I pleased? You bet! Years of misery and worry just evaporated and I felt like a new man. An £11,833 ‘debt’ had just gone away! The fact that they could simply write it off shows they knew they had no defence to my letter and that the ‘debt’ was not worth the paper it was written on. They had tried their normal bully-boy tactics, but I called their bluff.
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