15 Year ago debt 2k, now than i receive an debt collector asking for 20k. how can i settle it with legal way.

Answer :

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    answered on 15/07/2018

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    You can settle it in a legal way by paying the debt. Otherwise, it depends on the circumstances such as the terms of the loan. If the debt was incurred with an unlicensed moneylending business, you do not have to repay the loan, according to a recent Court of Appeal case (Ochroid Trading v Chua Siok Lui).

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