How long before a debt is written off

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  • mrmouse
    mrmouse Posts: 3 Newbie
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    if i take out a small personal loan with one company can i take out another with a different company at the same time ?
  • RichL74
    RichL74 Posts: 938 Forumite
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    By small personal loans, are we talking payday / doorstep loans?
  • mrmouse
    mrmouse Posts: 3 Newbie
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    doorstep loans
  • RichL74
    RichL74 Posts: 938 Forumite
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    I'm not an authority but I dont think they would necessarily do a credit check on you on your doorstep so you could technically have more than one from other companies however try to avoid going down this route if possible. I remember the house down the road the couple would hide behind their sofa on collection day. Good luck.
  • shanny40
    shanny40 Posts: 3 Newbie
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    Hello everyone, I have a credit card debt thru my bank that is 20 years old, yes, 20 years. I have just now within this last 6 months have had a creditor contact me to pay it back. I was told years ago that since it is so old that it written off but could possibly still affect my credit rating. This company has given me an offer to pay a very low amount compared to the original amount, which is very high because of all the interest. I do not want, or can afford, to pay anything and I have told them so. They are now telling me that since my debt is with the same bank institution I am with now, they could literally take the money out of my account without any court papers etc..can this be done??!!

    Help!
  • antrobus
    antrobus Posts: 17,386 Forumite
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    shanny40 wrote: »
    .. I have told them so. They are now telling me that since my debt is with the same bank institution I am with now, they could literally take the money out of my account without any court papers etc..can this be done??!!...

    Yes.

    (.......)
  • shanny40
    shanny40 Posts: 3 Newbie
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    How can they do this without consent from a court or even knowing my account details, the bank allows this to happen?
  • shanny40
    shanny40 Posts: 3 Newbie
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    How can they do this without going thru the court system first? 20 year old debt..really!!??
  • mcjordi
    mcjordi Posts: 4,238 Forumite
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    its in the terms and conditions of the banks paperwork

    i suggest you move banks asap
    Sealed pot challenger # 10
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  • Tellmeitisntso
    Tellmeitisntso Posts: 1 Newbie
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    I have today received five years of invoices for a service charge that I didnt know I owed. It was an admin error and affects some 10 people..... amounting to £1,500 per household..... am I liable..... it has come as a shock. It was somehow missed by the accounting department and I guess an audit has brought it to light. It was for a monitoring charge of an alarm system... I have paid for the twice annual services etc over this time and in no way thought I owed anything else.
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