Major Problem - Please help

*MF*

Such is the world these days that all the agencies who are offering free help on debt problems are inundated - you may need patience, yep, hard as that may be for you. (No insult intended - I can hear the stress and understand, ok)

But there are other agencies other than NDL - this link might help:

http://forums.moneysavingexpert.com/showthread.html?t=1231527

Citizens Advice is another, and I hope other posters may know of others, I am unaware of.

You may never know how the trace was made - and it is largely irrelevant imho - addressing the issue as best you can is the real task, and I wish all good luck in that.

French_Defence

Hi Milliemonster!

"Why should your credit rating be affected? if you have no joint financial products then you will not be affected."

Well if CCJ`s were applied, because of the sums involved I don`t think it would be unreasonable for the DCA to go to court and have them re-applied (or whatever the technical term is). I would certainly do so in their position.

Therefore, would my credit file subsequently show these against her and would that not influnece any decision on any future credit application that I might make?

Maybe I am just worrying over nothing but it doesn`t feel that way!

*MF*

Extract:


Marriage doesn't hurt, joint finances do.

Simply marrying or living with someone with a bad credit score shouldn't impact your finances, as third-party data (ie, someone else's info) doesn't appear on your file.

Yet if you're 'financially linked' to someone on any product, it can have an impact. Even just a joint bills account for flat sharers can mean you are co-scored. If one partner has a poor history, keep your finances rigidly separate, and it should maintain access to good credit for the other.

In fact, there are only two common products that can infer financial linking: mortgages and joint bank accounts. As a note, there's no such thing as a ‘joint' credit card. Technically, it's one person's account and the other just has access to it. It is technically possible that joint utility bills could be reported on credit files, though current practice is not to do so.

If you split up with someone you've joint finances with, once the accounts are separated or no longer active, always write to the credit reference agencies and ask for a notice of 'disassociation', to stop their credit history affecting yours in future.

From here (quite a way down on that page)

http://www.moneysavingexpert.com/loans/credit-rating-credit-score


Suggestion: Take a sheet of paper and write down all the questions you have - prepare for the calls tomorrow - and as best you can - switch off for tonight - none of us are at our best later at night under stress - not easy I know, and be ready to hit the problem hard tomorrow.

milliemonster

French_Defence wrote: »

Hi Milliemonster!

"Why should your credit rating be affected? if you have no joint financial products then you will not be affected."

Well if CCJ`s were applied, because of the sums involved I don`t think it would be unreasonable for the DCA to go to court and have them re-applied (or whatever the technical term is). I would certainly do so in their position.

Therefore, would my credit file subsequently show these against her and would that not influnece any decision on any future credit application that I might make?

Maybe I am just worrying over nothing but it doesn`t feel that way!

Hi French!

Well a DCA may threaten with this but try as he might, legally they cannot get your wifes debts from 20 years ago before you even met her secured on your property that isn't and never has been in her name.

And no, your credit file would not mention anything relating to your wife's CCJ's, your credit file will only report on your financial borrowing and the only mention of your wife would be if you were jointly linked due to having a financial product, but thats as far as it would go.

If your wife is not financially linked with you then despite this huge debt that has surfaced, your credit rating will not be affected at all.

Ames

You are in no way liable for your wife's debt. Even if she ran it up while you were married, if it were in her name then they couldn't make you pay.

Whether it affects your credit rating depends on whether you have joint financial products.

Even if there's a CCJ on her debts, that only extends the statute barred limit to 12 years - so they would still be barred. Even if it were less than 12 years, if it were more than 6 they'd have to go back to court to get an order, and they'd have to have a very good reason for not pursuing it earlier.

I really think you're worrying about nothing. You don't need a solicitor, that would just be wasting money when there's no need. If you really need reassurance, call National Debt Line tomorrow, they should be able to give you a straightforward answer as it's a pretty straightforward question.

French_Defence

I thought a good reason would be that the original lender would not have known where to go to try and enforce payment (even though this would have been futile at the time). Now the people who have bought the debt do know and must think it`s worth a punt. And if I were a County Court Judge I would grant them (unless legal precedent forbade it) the right to pursue it. Seems only fair.

I don`t want to spend money on legal advice but if giving this DCA a good kicking helps someone else on this forum then I`m up for it. Sadly though, this looks as if it`s a growth industry at the present time 8-(

On one hand I want to protect my wife from all of this but I can`t shake the feeling that this is not going to go away.

RAS

Please can you listen to the advice you have been given, which is correct.

1. Any debts in your wife's name have no impact on you or your credit rating.
2. If she has not paid or made any written acknowledgement in the last 6 years they are statute barred unless...
3. Even if there is a CCJ, after 6 years they need a judge's permission to enforce the CCJ and after 12 years they cannot.

That is before we even get to:

1. If this is unsecured debt, they need a legally binding CCA - most unlikely if the debt is prior to 2000
2. And to provide a legally binding default notice - even less likely.

And the onus is on them to provide the legal paperwork.

Can you stand still and take a few deep breaths, please, before panicking.

And DCAs who are chasing debt they know is statute barred are scum, by definition, so assume they lie about everything.

RAS

French_Defence wrote: »

On one hand I want to protect my wife from all of this but I can`t shake the feeling that this is not going to go away.

Please stop trying to protect her. Ask her to come on here and leanr the truth.

Then neither of you have to worry.

The only reason they will pursue you is because you sound unsure of yourself.

if you report them to the OFT, they will soon learn.