Buying Back My Account - What to do?

sinbin_72

Thanks for all your help.

It does seem that my credit file is not going to give me the information I need. There is no point in me finding out what has happened in the last 6 years at new addresses if the address I am most concerned about was 9-10 years ago. What happens if I get a clear report and send SB letter only to discover that the CCJ had in fact been taken up under an address that I could not check because I lived there longer than 6 years ago. I would then have made the situation worse by dvulging my new address and not having a leg to stand on.

Can you see my problem?

Thanks

piglet39

sinbin_72 wrote: »

Thanks for all your help.

It does seem that my credit file is not going to give me the information I need. There is no point in me finding out what has happened in the last 6 years at new addresses if the address I am most concerned about was 9-10 years ago. What happens if I get a clear report and send SB letter only to discover that the CCJ had in fact been taken up under an address that I could not check because I lived there longer than 6 years ago. I would then have made the situation worse by dvulging my new address and not having a leg to stand on.

Can you see my problem?

Thanks

Good morning!

I do see what you are saying. My understanding is that a CCJ 'drops off' after 6 years - paid or not. I have had CCJ's over 6 years ago (and some now but we won't go into that!) that I haven't been able to pay and they did come off my file after the 6 year period.

If you had a CCJ (knowingly or not) based at your old address it would have dropped off your credit file anyway.

Re -reading your post again I know this advice isn't fully answering your question so will have another read and post again.

Pigletx

piglet39

sinbin_72 wrote: »

Hello Everyone

I have just received a letter that has been passed onto me by my Sister that has been delivered to her address. It was from a creditor I had around 10 years ago. I used to live with her and after moving I put the debt to the back of my mind as I was having many other problems at the time.

The letter is from Lowell Portfolio and states that I owe around £8,0000. It says I can bid on my account to buy back the debt. If I choose not to buy back the account then they will accept a token payment each month until the debt is paid - Minus a 25% discount.

I have 2 concerns:

1)If I do bid - because I have never stopped worrying about the debt and it hold me back - then would I be able to do so without disclosing my new address. I am fearful that if I bid with my home details then they will reject my bid and then send the bailiff round and clear my flat. I wouldn't be able to cope with that as I have some health problems at the moment.

2)How much should I bid? I can just about scrape together £1,200 from my overdraft and a few hundred from savings. However, I dont want to place the bid if this is clearly never going to be an acceptable bid. Is it possible that they would consider a bid of £1,200 on a £8,000 debt? I have had this hanging over me for so long that it would feel so great to be debt free but I dont want to open a hornets nest if I am wasting my time.

I hope you can help and understand where I am coming from.

Thankyou so much in advance. I got some fantastic advice for my friend last time I came here. Hope I can repay the favour to someone else someday.

1.) If you do bid to buy the debt back then I think you would have to disclose your new address as it prob wouldn't be fair on you sister as all corresp would come to her. Personally I wouldn't take this route anyway. I would get your sister to 'return to sender' any post that came for your attention. She is not and would never be liable for your debt neither would she ever be compelled to reveal your whereabouts.

2.) If the creditor had gone to court and you were CCJ'd then corresp regarding this would have been sent to your last known address. Similarly if the court had appointed a bailiff to collect the debt then again your sister would have had knocks on the door.

Personally I would in the first instance get your sister to return the letter 'not known at this address' 'cos if she ignores it then the company will just keep writing and then take advice as to what your next step would be from the peeps here and NatDebtline or CCCS.

HTH and keep us posted

Pigletx

sinbin_72

Thanks for the advice. You are very kind.