Can a credit card company chase you for a 鎷?00 debt after 15 years.?

After 15 years i have received a letter from a debt collection agency with regards to a debt of 鎷?00 owing,,

I thought this was forgot about and written off by the bank.

I have a very good credit rating at the moment and banks are offering me loans and credit all over the place..

Can the debt collection agency do me any harm (financial type)

Any info would be appreciated,,

ps,,What do i do with the 3 letters i have been sent..??

Can a credit card company chase you for a 鎷?00 debt after 15 years.?

A debt only lasts on your credit record for 6 years. They will have bought the debt and will try to chase you for it. They only make money if they collect from the debtors. They wont take you to court (never for such a small amount) so i would send the letters back saying `he doesn`t live here` they will give up eventually.

Can a credit card company chase you for a 鎷?00 debt after 15 years.?

In the UK, the statute of limitations to collect a bad debt is 6 years. Don%26#039;t call the creditor, just ignore.

Can a credit card company chase you for a 鎷?00 debt after 15 years.?

Credit card companies generally sale your debt to a collection agency for about half of what you owe, and write off their losses. However, the collection agency may go after you for the debt at that time.

Any debt you have is supposed to be written off on your credit reports after 7 years. You can call them and make a payment arrangement with them if they are threatening you with taking you to court. However, since it has been 15 years, I don%26#039;t think there is anything they can do about it.

Can a credit card company chase you for a 鎷?00 debt after 15 years.?

Banks sell %26#039;debts%26#039; on to %26#039;Collectors%26#039; for a pittance. The rest of the money, they simply write off, by means of an appropriate accounting entry. These %26#039;Collectors%26#039; will pester you by letter, incessant (and, at all times) telephone calls, personal visits, talking to your neighbours, threats of legal action, the threatened or actual registration of adverse information with Credit Reference Agencies, etc, etc. As for their 3 letters: 1. Write them a letter along the lines; %26quot;Dear %26#039;debt collector.%26#039; I am sitting in the smallest room in the house. Right now your communications are in front of me. Shortly, they will be behind me. Trust I shall not hear from you again, unless it is by your solicitors, acting upon - no doubt - well-prepared instructions. Your informatively%26quot; - (Your usual signature and date.) 2. Send your letter recorded delivery. 3. Retain a photocopy. N.B. If they respond, you have our e-mail address.