A Debt Question for anyone that can help...I received a letter from a Debt Collection agency today.?

This was totally out of the blue but they claimed that they sent a letter to me a few weeks ago in regards to the matter..A letter i never received. I rang them to find out what was going on,and what the debt was for. They told me that it was outstanding with HSBC Bank and that i need to pay it by the end of the... show more This was totally out of the blue but they claimed that they sent a letter to me a few weeks ago in regards to the matter..A letter i never received.
I rang them to find out what was going on,and what the debt was for.
They told me that it was outstanding with HSBC Bank and that i need to pay it by the end of the month,or they will start legal proceedings against me.I asked them what this would involve,which they replied the Bailiffs would be contacted to call at my address to remove personal property.
The Debt was from roughly 8 years ago,for an unauthorised overdraft which i had with the bank.
They told me that if i pay it by the end of the month £90 will be taken off the debt.Which will take it down to £198.00.
I am unemployed and am claiming JSA.
I am going to the C.A.B on Monday Morning to find out where i stand and what i can do.
I have been told that after 5years the Debt is wiped,but am not sure.
I would appreciate any help in this matter.Thanks
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