oustanding loan

VIC2009

Hi,

I need some advice.

I took out a loan in 2001 for £9k with Lloyds. I paid this for a couple of years, but defaulted in feb 2003. Lloyds then took out a CCJ in 2005, which for my sins I haven't paid. I have moved several times and last year tried to contact Lloyds to discuss paying this debt back. They told me the debt was no longer with them and gave me the number of a company who were dealing with it. I called them and they advised me that it wasn't with them, so I called Lloyds again and asked if they would be able to provide me a copy of my loan agreement, they said probably not.

Recently another company have been trying to contact me regarding this debt but I have not returned any correspondance, as I was told that after the debt had been defaulted for 6 years, it comes off my credit file and isn't enforcable. I have recently been told that because I have a CCJ on it, Lloyds can still come after me even though 6 years will have passed next month.

Im in a dilemma now because the company who I believe now own the debt have offered me a settlement of £2900 if I pay by the 17th of this month and they will up date my credit file. But if I ignore their offer, they will seek court action. Can they take out a second CCJ on the same debt?

What do I do? Shall I contact them? What happens to my debt after the 6 years is up at the end of Feb?

Can someone shed some light?

Rafter

Vic,

If Lloyds got a CCJ against you in 2005 this demonstrates that they have been trying to chase the debt. As does the company chasing you.

The six year rule only applies if the loan company hasn't tried to chase the debt for six years. Sorry.

If possible you should try to settle, otherwise further court action could mess up your credit rating for a further 6 years.

You should get independent free advice though. Suggest you contact citizens advice or the CCCS

Good luck

R.