Pip and Herbert discuss what they should do with Magwitch. Pip shares his anxiety over Magwitch spending more money on Pip. When Herbert wonders why Pip doesn’t simply accept Magwitch’s generosity, Pip explains that he feels like a fraudulent gentleman now that he knows his rise in status was paid for by Magwitch. Herbert suggests Pip break ties with Magwitch and get him out of England. Pip realizes that to do so, he must ask Magwitch more questions about his history, about which he still knows very little. The next morning, Pip and Herbert urge Magwitch to tell his story.

Magwitch describes most of his life experience as moving in and out of jail up to the point where he met Pip. He explains that he was an orphan who grew up poor and hungry, and that he turned to a combination of homelessness, begging, thieving, and occasional short-term work to feed himself.

Over 20 years ago, Magwitch met a man named Compeyson at a racetrack. Compeyson could pass for a gentleman, as he was good-looking and well-educated. Thus, Compeyson was adept in the art of manipulating rich people. Magwitch became Compeyson’s partner in the business of forging, swindling, and stealing.