So it seems CIBC are being a bit difficult.

They won't budge on a settlement and are threatening me with legal action. Without any assets, what exactly can they do?

I am glad it worked out for you .The difference between 10% and 20% is not much. Keep me posted on your others ones and you can achieve the same percentage or lower if you wait them out. It helps when your in another country and they think you are never coming back.

Balance: $5787
Settled: $1160
Approx 20% which I am more than happy with.

Great,how much was the balance or what was the percentage they settled on?

MBNA settled at 1160!

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Thanks

Cheers Joe. Cyber pint to you!

Good Luck and keep me posted before you settle a debt. I want to make sure you get it right the first time and save you money.

Thanks for all the comments. Much appreciated.

Interesting about the 2 year rule around suing. Attempting to sue me would be quite funny. I have a suit, a few pairs of shoes, a phone and a television they can have!

Whether you pay your debt off or not by law these items will come off your credit file in six years from the last transaction or payment and it’s usually a payment. If you lived in Ontario the statue of limitation to sue some is in within two years from the last time you made a payment on the account. If the creditors know you moved to the UK for good, the chances are great that they will not waste their money to sue you. If the two years go by and they do not sue you, they can chase you all the want, they will not be able to do anything to you.