Advice Needed

SAEHPYKG · 3 October 2017 at 10:19AM

Hello All

Looking for advice regarding 3 Accounts i have with Barclays

In 2012 i got 2 loans with Barclays which both defaulted at the end of 2012. I was young and stupid thinking that a temping job would lead onto a fulltime job with the company i was with.

Some details below,

Barclays £4500

Default Date - 13/11/12
Last Payment - 01/04/12

Barclays £6513

Default Day - 04/12/12
Last Payment - 01/04/12

Ive worked out that i can pay £10 Week although it would take 25 years to pay this off!

I've read up about the limitations act and yes it is bad that im thinking about just leaving it until the 6 years is up.

What bothers me is that they can apply for a CCJ and i would need to start paying it back anyway, i cant see Barclays allowing £11,194 to go down the drain so im expecting court papers anytime in the next few months.

One part of me say's just wait and see what happens (Daft i know) or start paying the £10 Week off

Is there any advice on what i should do?.

EssexHebridean · 3 October 2017 at 10:39AM

First thing is to put together your Statement of Affairs (SOA) which will give you your full budget - and that in turn will tell you what you can really afford to pay for these. Waiting for them to drop off might suit some folk but not others - I know it wouldn't be for me as I'd be driven to nightmares feeling as though I was looking over my shoulder waiting for it to happen - but each to their own. You're right about the risk of a CCJ as well - which wouldn't exactly do your credit history any favours.

Personally if it were me I'd do the SOA, post it in here and then we can take a look and see if there are savings you can make that you might not have identified, and from there you can either make a proper payment plan with Barclays, or at the very least start stashing money against the possibility of needing to find it quickly to prevent a CCJ.

Make the figures in the SOA honest and accurate - no sense in doing it if it's what you *think* you should be doing with your money, or what you think we expect to see. It needs to reflect the way things are right now too - again, no sense in doing it otherwise. You'll find various links to SOA calculators at the top of the board in the "sticky" posts there - I believe the stoozing.com one is now working again so maybe try that first.

National_Debtline · 3 October 2017 at 10:49AM

Hi there

I think it’s summed up above that this is a tricky situation. Whilst you may be approaching the point that the loans become statute barred, there’s still time for a CCJ to be obtained which would be damaging to your credit history. Have you been contacted about the debts recently?

One thing to mention is the default dates are not relevant. The 6 year limitation period starts running from the cause of action, which is the date court action could have been taken. And with a loan that is usually after one or two missed payments. For them to then become statute barred there has to be 6 years where the debts are not paid, you don’t acknowledge them in writing and no CCJ is obtained.

I’m afraid there’s no easy answer and it is something you will need to weigh up, is the risk of a CCJ worth the chance of not having to pay the debts back? Good luck with it all.

Susie
@natdebtline

SAEHPYKG · 3 October 2017 at 11:07AM

Thanks for the replys

I'll get a SOA does asap.

I would need to dig the letters out but i'm 90% sure the last letter regarding them was from Moorcroft in May 2014.

No payments/written contact/emails/call have been made by me since April 2012

Advice Needed

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