View Single Post
Old 22nd February 2012, 22:35   #8
Canonite
This is my second home
 
Canonite's Avatar
 
BMW 330d Tourer, MG ZT 180 SE XPG, VW Polo 6R 1.2 TDI Bluemotion

Join Date: Jul 2011
Location: York
Posts: 6,030
Thanks: 363
Thanked 574 Times in 319 Posts
Default

A debt wont go away, it'll just be sold on again.
People are easy to find these days. His best option is to contact the creditor and negotiate a full and final settlement with them in writing. Basically a 5yr old debt of £500 will have been sold to a DCA for a much lower price say £350.
Your friend may well discover they will offer settlement for that cost price, so he'd end up repaying much less than he borrowed anyway.

Ignoring it is foolish and very very damaging.
Canonite is offline   Reply With Quote