all the amount outstanding is just charges.

[jane_h]

I took out a credit card in 1990 something. The credit limit was £200. I got behind with my monthly payments due to personal circumstances and eventually I owed them over £1000. I made serval payments before they stopped adding charges and then they put it in the hands of a debt collection agency.

I was paying them £10 every month. Every so often they offered to reduce my debt if I paid a lump sum of approx £400. That would then clear the debt. As I did'nt have that sort of money I continued to pay the £10. Then I got a letter from a company called Capquest that said they had bought my debt and now I owed them £813. They have threaten to take me to court to recover this debt. How do i stand as all the amount outstanding is just charges.

[MelanieGiles]

Hi Jane

I am afraid that you are liable for the debt, so I suggest you make an offer of payment to Capquest. How much do you think you could afford to pay each month? And do try and get the debt paid off as quickly as possible.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk