Where are we now then on Loan Write Offs?

ILW

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6868968.ecep://business.timesonline.co.uk/to...cle6868968.ece

never-in-doubt

ILW wrote: »

http://business.timesonline.co.uk/to...cle6868968.ece

Changes nothing - it was an isolated case which changes nothing whatsoever. Its old news as well....

My convo with Fermi is here: http://forums.moneysavingexpert.com/showthread.html?t=1868507&page=17

As you'll have guessed, we kinda have a bit of knowledge about these things lol :beer:

iolanthe07

I don't think there loans are ever 'written off'. They may become unenforceable, but that is not the same thing at all as your credit rating can still be screwed.

PNPSUKNET

the courts will follow in the same route me thinks also

Ames

ILW, that link's not working.

Loans can be written off, by dying and leaving no estate. But that's a bit drastic!

I have to say I've gone down the CCA route, it means you don't have to pay but you still get loads of hassle, they can't take you to court but they can still chase the debt, it still exists. Please no-one give me a hard time for taking that route, you don't know me or my circumstances.

never-in-doubt

Ames wrote: »

I have to say I've gone down the CCA route, it means you don't have to pay but you still get loads of hassle, they can't take you to court but they can still chase the debt, it still exists. Please no-one give me a hard time for taking that route, you don't know me or my circumstances.

The link works on my response to it (post 2)......

You get no hassle after unenforceability, the debt is exactly that - unenforceable so they cannot pursue you for it. The only hassle will be the default marker on your credit file but if the lender chases you for the money they are breaking the law!

Well done on doing the good deed and fighting back :T