Ruthbridge Ltd ( Express Delivery)

Ineedlotsofhelp

Yes 2002, he lost his job Aug/sept 2002 and couldn`t make payments but cannot remember what month last payment was made, ceartainly no later than Oct 2002.

fermi

Well, on Monday I would get onto National Debtline and talk it through with a professional debt advisor.

Telephone free: 0808 808 4000

The may advice you to:

a) do nothing and sit it out
b) send a letter stating the debt is "statute barred".
c) Request a copy of your credit agreement, account details and a statement of account. as the debt may be unenforceable for that reason.
d) Come to some sort of arrangement.

It's hard not to worry, but these problems can always be sorted.

Ineedlotsofhelp

He also has a bank loan outstanding for £16,000 from the same time but upto now have heard nothing, shall we follw same road with that one?
If we receive a statutory demand letter like we did for the repossed car which stated we must pay before 21 days or they may apply for bankrupcy is this just a scare tactic because CAB said because we have a mortgage we could lose the house.

RAS

Hiya

With respect to the house, how much is it worth (now given the state of the market, not three months ago) and how much mortgage do you have?

Secondly, if you get another SD, please ring NDL rather than CAb as they have a much better understanding of things. Some DCAs send them out like confetti, even for debts that are statute barred.

I am also very worried that you took out a loan to re-pay your OH old debt. All this does is transfer liability to you for his debts, it does not deal with the underlying problem.

It would be a very good idea if you posted up a full Statement of Affairs on here, so that people can help you sort things out.

Ineedlotsofhelp

The house is worth with current market about £95.000 and we have £19.000 left on mortgage to pay.
He has two debts which is £16.000 Bank loan
£ 7.500 Credit card
Upto now he is not being chased for the Bank loan.
Both of these debts become statute barred no later than October as he has not made any payments or aknowledged the debts since October 2002.
It was only last week we received two letters, 1 from Express Delivery and 1 from Ruthbridge Ltd.

Ineedlotsofhelp

Also i didn`t take out a loan as such to pay a past debt, i borrowed £4000 from a very good friend.

Ineedlotsofhelp

Just to keep you updated- Phoned Nationaldebtline today and the lady my OH spoke to was so nice and reassuring that for the 1st time in days perhaps now i will be able to have a good nights sleep.

She advised my OH not to act on mail received unless we receive a letter for court or a statutory demand, which she has advised if we receive to ring nationaldebtline and they will then talk him through his next plan of action but for now we are not to worry which I know is easier said than done, I cannot believe we actually fell into this mess but when i look back over the last years I can actually understand how easy it is.

One things for sure, there will be NO loans or credit cards in the future, We have learnt to live by our means.

fatbelly

Ineedlotsofhelp wrote: »

She advised my OH not to act on mail received unless we receive a letter for court or a statutory demand, which she has advised if we receive to ring nationaldebtline and they will then talk him through his next plan of action ...

Good advice IMHO!