Help This New Wannabee!! :(

paulmorrisjcp

loaner wrote: »

are you paying ppi on the loan, if it was only a 2500 loan, the apr is about 146%

Yes i am paying PPI on the loan, and yeah it was a 2500 loan

RAS

Yeeps loaner - not spotted that

Who is the loan with pauls????

Regarding the cap 1 account if you last paid that when you were 19 by march at the latest it will be stature barred and you can choose whether to pay it back or not. Could be statute barred now.

paulmorrisjcp

the loan is with 'Welcome Finance'

how exactly does this statute of limitation work? from what i can see from looking it up it applies only if you have had no correspondence from them. i have had letters and demands from them over the years

paulmorrisjcp

loaner wrote: »

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Do the company pay you for mileage, and if so, how much. Is the car insured for business travel?

the company pay 40 pence per mile for travel
and the car is on my personal insurance with business miles included

RAS

paulmorrisjcp wrote: »

the loan is with 'Welcome Finance'

how exactly does this statute of limitation work? from what i can see from looking it up it applies only if you have had no correspondence from them. i have had letters and demands from them over the years

Have you ever responded to the letters? Or made a token payment?

paulmorrisjcp

RAS wrote: »

Have you ever responded to the letters? Or made a token payment?

i dont think i have ever made a token payment over the years but i may have responded to a letter apprx 6 months ago making an offer of a repayment plan which i didnt get a response too

RAS

paulmorrisjcp wrote: »

but i may have responded to a letter apprx 6 months ago making an offer of a repayment plan which i didnt get a response too

If there was a clear 6 years between your last payment and this letter then the statute of limitations still applies. if not you may have re-established your liability.

As long as you have not a knowledged in writing or paid a debt for 6 years, the law and the court consider it unfair for a creditor to chase you for the debt. They can ask nicely but do nothing if you tell them you are not paying. It does not matter how many times they have written to you or telephonedetc.

the best thing in the short-term is to do nothing and get on sorting out the fine and the CCJ, both of which could bite you in the bum.

And please make sure your folks are briefed not to make payments on your behalf if DCAs ring up.

paulmorrisjcp

well the fine itself is sorted. the CCJs i will have to do something about asap.
my mum knows not to do that, weve already talked about it

RAS

Good - we have quite a lot of instances when well meaning parents or girl friends make a panicked payment and open up a can of worms.

Then the Dca goes hunting for any oher debt in the same name, it seems and everything snowballs.

paulmorrisjcp

well there is definately no chance of that happening.
the main issue is now that im nearly 26, need to consider my future life and i really cant be coping with the stress and not sleeping anymore.

This may sound like a silly question, but because ive ignored things for so long and ignored letters im not even 100% certain of the exact amount of debt and all of my creditors. Is there a way i can get a list of creditors or does it just show on my credit file if i get it?