Question

Jon,

I defaulted on 2 accounts a few years back and just gave up and forgot about them. I didn’t open my post or read my emails, as I knew they were from the banks. I just wanted to run away from it all. I am back working now and want to pay these accounts off as knowing the debts are out there stresses me out. How do I go about paying my debts off?

Thanks,

Gemma

Answer

Gemma,

Do you still have details about the accounts, from an email or a piece of post?

You may wish to get a copy of your credit history to see who you owe as well.

Contacting who you owe is the first place to start to inquire about the status of the account, and how to go about setting up payments.

Unfortunately depending on how much time has passed, the original lender may no longer have the account. It may have been sold onto a collection agency, however, the original lender may be able to tell you who that is, or pull the account back.

In addition, once you know who has the accounts, due to the time that has passed, you may be able to settle the debts, paying less than the full balance to have the account(s) shown as paid.

I hope this helps.

Regards,

Jon

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