I've Just Cleared One Of My Debts! Also Limitation Act Help Please?!
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Claire_DC
Posts: 1,269 Forumite
Hurrah!
It's an old debt that i got after a couple of traumatic experiences (looking back, illogical spending was not the way to deal with the things that happened) on a duet card.
The debt company offered me 50% off the total debt if i paid it in one go.. so i did, £806 down to a much more manageable £403 and now i have one less debt. I've been paying a little here and a little there until now with this, but had a backpayment sent to me so used it to clear this debt.
It feels so good to have cleared a debt even though that £400 is going to make a massive dent in our funds for decorating our home and getting the things we need for it.
I now need to clear my other old old debt that i gained at the same time now which is £3500 on a credit card that i only had a £500 limit on - again i didn't spend logically as i bought 6 of the same top, 4 of the same bag etc.
I think the 6 years has passed from that so i need to look into the limitation act and see about getting a template letter to send to them as i don't think i have had contact with them in that time either (at least i hope not if i'm going to be sending this letter into them eek).
I know some people will not agree with this as i have seen a few people get ripped to bits for this kind of thing on here (by some people, not all), but i just want to try and draw a line under that part of my life and beat the depression that i've suffered since that time. So please can i ask you not to comment if you're going to try and rip me mto pieces for this as i'm not taking this lightly, if i could have paid it back then i would have.. like i have done with my debt i mentioned above.
It's an old debt that i got after a couple of traumatic experiences (looking back, illogical spending was not the way to deal with the things that happened) on a duet card.
The debt company offered me 50% off the total debt if i paid it in one go.. so i did, £806 down to a much more manageable £403 and now i have one less debt. I've been paying a little here and a little there until now with this, but had a backpayment sent to me so used it to clear this debt.
It feels so good to have cleared a debt even though that £400 is going to make a massive dent in our funds for decorating our home and getting the things we need for it.
I now need to clear my other old old debt that i gained at the same time now which is £3500 on a credit card that i only had a £500 limit on - again i didn't spend logically as i bought 6 of the same top, 4 of the same bag etc.
I think the 6 years has passed from that so i need to look into the limitation act and see about getting a template letter to send to them as i don't think i have had contact with them in that time either (at least i hope not if i'm going to be sending this letter into them eek).
I know some people will not agree with this as i have seen a few people get ripped to bits for this kind of thing on here (by some people, not all), but i just want to try and draw a line under that part of my life and beat the depression that i've suffered since that time. So please can i ask you not to comment if you're going to try and rip me mto pieces for this as i'm not taking this lightly, if i could have paid it back then i would have.. like i have done with my debt i mentioned above.
Lost lbs =
Gained £s = Quidco £261.90, Free Fivers £22.26, Matched Betting
Gained £s = Quidco £261.90, Free Fivers £22.26, Matched Betting
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Comments
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My home is chronically overdue for redecorating but I can't afford to until I've paid back my debts. This means that I have to tolerate grubby walls and threadbare carpet for a few more years.
You really should be spending your decorating money on your debts and I cannot believe that the credit card company has not been in touch for 6 years.
The best way to see if it has been 6 years since contact is to get a copy of your credit file.[strike]-£20,000[/strike] 0!0 -
We have only just moved in, the decorating money is my fiance's.. not mine, the £400 i paid was a benefit backdate which was destined for the decorating originally until i got the letter from the debt company offering the 50% off.
In fairness, the house NEEDS doing up, it's not just grubby walls and threadbare carpet. We have no carpet, a missing wall in the kitchen that needs tidying up, no wallpaper etc etc. It's coming into winter now and we could not live like this through winter.
The credit card company recently got in touch saying they'd sold the debt to 1st credit, who i have received a letter from in the past but due to my depression i didn't act on it as had my head in the sand about EVERYTHING, not just debt.
I don't think there's anything about it on my credit file, although i may just check up and make sure tomorrow. Would it be on there if i'd have had contact with them?Lost lbs =
Gained £s = Quidco £261.90, Free Fivers £22.26, Matched Betting0 -
Also are there any decent templates for these letters that anybody can recommend please? Thanks in advance. xLost lbs =
Gained £s = Quidco £261.90, Free Fivers £22.26, Matched Betting0 -
Anybody... please? xLost lbs =
Gained £s = Quidco £261.90, Free Fivers £22.26, Matched Betting0 -
template letter for what exactly?
if 6 years has passed since acknowledging the debt then whats the problem? you're OK now.
the debt is still there, but after six years its unenforeable through the courts.
maybe i haven't understood the situation fully?
just out of interest what exactly would happen if you lived in your house this winter without any improvements?
anyway if you want to post an SoA i'm sure people could help you0 -
Don't you have to send a letter though saying you do not acknowledge the debt and refer to limitation act etc though?
That's the impression i have got from using the limitation act anyway. Lost lbs =
Gained £s = Quidco £261.90, Free Fivers £22.26, Matched Betting0
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