Debt collection agencies

DCFC79

Anyone watch Watchdog tonight about debts, why do the debt agencies chase money from people who dont even owe the money,

olly300

Because they get paid when someone pays up as they buy the debt of other companies.

matphil

I didn't watch the program but my OH did and according to him they said on there that if your debt is over 6 years old then you don't need to keep paying it. I disagree with him though from reading comments on here.
From what I understand a debt is only unenforceable after 6 years if you have had no contact with them and have not been paying the debt off. Please could someone clarify the situation.

geordie_joe

matphil wrote: »

I didn't watch the program but my OH did and according to him they said on there that if your debt is over 6 years old then you don't need to keep paying it. I disagree with him though from reading comments on here.
From what I understand a debt is only unenforceable after 6 years if you have had no contact with them and have not been paying the debt off. Please could someone clarify the situation.

It would be nice if your OH was right, we could get 20 year mortgages and stop paying them after 6 years.

You are right, but I also think it's a case of not acknowledging the debt for 6 years too. Obviously if you have had no contact and not paid then you have not acknowledged the debt.

Twinkly

This might help:

http://www.insolvencyhelpline.co.uk/debt_factsheets/liability_for_debts_and_the_limitation_act.php

fermi

The scary thing is that was quite mild.

We see behaviour from companies like that on DFW that is a lot worse. :eek:

The statement about debt 6 years old at the end of the report was a foolish simplification though.