What would u do? Sunday morning help please

silly_boy_09

Hi, I'm new here, browsed a bit for Lamb Shoulder tips and Tower Investigations Ltd, back to them in a bit

So, while in uni (98-05, on an off) I was a very silly boy (in more ways than one) and accrued 3 seperate overdraft facilities in addition to 2 credit cards. From 03 to 06 I was also a customer of the Money Shop and used their cheque cashing facility liberally..

This was done on top of one overdraft limit of 3k, another 2k...I have no idea how many cheque books i went through, only both accounts would have been on their limit, quiet possibly already frozen.

Question 1? Would the cheques be on my credit agreement with the bank or a seperate one with the Money Shop?

Secondly, i recently received a letter from Tower Investigation to my parents address where i reside at the mo. I applied for a provisonal driving licence recently so assume the letter from Tower Investigations Ltd is due to the DVLA's data sharing policy. Either that or them trying their luck on an old address associatd with me, pre 02...Timing seems more than a little co-incidental

Anyway, this is the first finance/debt related letter I recived for years. I've done my best to avoid them, not on electoral roll, not applied for credit nor used the money shop since 06...sorted meself ot to a certain degree

Now, Tower have got me thinking and a part of me would like to know just how much !!!! silly boy got himself into...the other part of me is aware that by 2012 my debts will be statutory debarred and then i can find out how much mess silly boy made, without current silly boy having to tidy it up...

I should have sorted this out when i was in minimun wage an borderline homeless. Unfortunatley (for these purposes) I'm now on a decent salary after years of under employment

So, Secind question is would you get a credit cheque an see just far the rabbit hole goes, it could be could be pretty deep and would provide any collection agenies etc with an up to date address (this may be academic given the recent letter from Tower Investigations) or would u ignore it, move and carry on regardless with fingers crossed...only 2 years to go after all..

Help, my head hurts

silly_boy_09

i'm guessing by the majority of content here..

"man up, get a credit report and take it from there"

40somethingmum

Experian do a free trial period . You will be able to see what is on your credit report. Better knowing than not knowing I think.

Good luck.

40SM

laura2481

Hmmm, I don't want to be the bearer of bad news but you could be in a LOT of trouble. If you have run up 3 big overdrafts, used a cheque cashing facility to go over the overdraft limit deliberatley and then 'disappeared' (this is what I'm getting from your story, Apologies if I have misread) it could be classed as fraud, I think. And you could be in more trouble than just having to pay it back. If it is classed as fradulent then I believe that it doesn't get statute barred in the same way as legitimately aquired debt and I think they can persue you for as long as it takes to catch up to you. I think. You really need to speak to the citizens advice bureau or someone like that and find out where you stand.

laura2481

silly_boy_09 wrote: »

i'm guessing by the majority of content here..

"man up, get a credit report and take it from there"

Something similar- 'man up, face up to it, sort it out'

laura2481

Tower Investigation ltd=

They are a debt recovery company, and previously have traded under the name of "TOWER DEBT RECOVERY LIMITED". They apparently work for Lloyds TSB amongst others

Lloyds don't happen to be one of the accounts you had, do they?

silly_boy_09

laura2481 wrote: »

Hmmm, I don't want to be the bearer of bad news but you could be in a LOT of trouble. If you have run up 3 big overdrafts, used a cheque cashing facility to go over the overdraft limit deliberatley and then 'disappeared' (this is what I'm getting from your story, Apologies if I have misread) it could be classed as fraud, I think. And you could be in more trouble than just having to pay it back. If it is classed as fradulent then I believe that it doesn't get statute barred in the same way as legitimately aquired debt and I think they can persue you for as long as it takes to catch up to you. I think. You really need to speak to the citizens advice bureau or someone like that and find out where you stand.

hmm, could be read like that...anybody got a link to what's fraudulent debt and not?

if it doesn't get statute barred that's a big chunk of my previous reasoning out of the window

/wishes he never asked now

laura2481

Or call National Debtline maybe? Free advice etc They might be able to tell you where you are likely to stand
Website= Link
Tel: 0808 808 4000

I hope you get sorted, because it would be horrible if you thought you could just 'keep your head down' for a few years it will all go away, and then find out it hasn't and you are now stuck not being able to get on with your life because of some stupid mistakes you made when you were a silly boy.

good luck

laura2481

silly_boy_09 wrote: »

/wishes he never asked now

better to find out the possibilty now (i'm not 100% sure, i might be wrong) than in a couple of years when the !!!! hits the proverbial fan.

silly_boy_09

laura2481 wrote: »

Tower Investigation ltd=
Lloyds don't happen to be one of the accounts you had, do they?

Yep, they were indeed...

Nargleblast

Suggest you do a SOA (statement of affairs) showing all your income, outgoings and current debts, then post it on here and see what people can suggest for you. There is a link at the top of the forum among the "stickies".

We have all been stupid with money at some point, that's why we are in the mess we are in, so you are not the only one. if you are serious about sorting it out then there are ways and means, and hopefully you will have learnt a valuable lesson at the end of it.