Hello and thank you for your question. I will be very pleased to assist you. I'm a practicing lawyer in England with over 10 years experience.
May I ask the type of debt in question please?
credit card debt of £2033 it was sold to a third party without my knowledge or consent owing to the fact that we had entered our debts with a financial management company, we have asked for a settlement offer via the debt company who advised an offer of 25-30 % we offered just over 25% but they only want th full amount , as I did not enter into this agreement and have not signed any paperwork am I liable for the debt
thank you. The consumer debt can be sold to a third party and the credit card company does not require your consent in order to sell or assign the debt
if the credit card company assigns the debt to a third party company, then that third party acquires all the rights in respect of that debt
you are free to negotiate with the company that has acquired the debt.
such companies will typically be willing to negotiate on the debt rather than issue court proceedings particularly if the debt is under £10,000 as they cannot reclaim court fees in the Small Claims Court.
My suspicion would be that 25% would be rather low as costs of taking the matter to court would not likely exceed £300-600 for company depending upon how efficient they are however if you are able to increase your offer, such companies are known to accept anything as low as between 40-70% of the debt in question. It is a matter of negotiation.
is there anything above I can clarify for you?
no that's fine thank you for your help
If I can assist any further as the situation develops please do not hesitate to revert to me