Old debt following me round

al-209

50quidonRED wrote: »

pay your debt, stop avoiding it

Why should i if i can legally not? Wellcome Finance wont go under if i dont pay and how many people do they fleece all the time.??

Comments like just pay up are unhelpful and pointless.

iolanthe07

Comments like just pay up are unhelpful and pointless.

Just because they're not what you want to hear doesn't make them unhelpful and pointless. In your heart you know you should face up to your responsibilities and pay this debt, like we all have had to.

StuTheDon

al-209 wrote: »

Why should i if i can legally not? Wellcome Finance wont go under if i dont pay and how many people do they fleece all the time.??

Comments like just pay up are unhelpful and pointless.

Unfortunately if everyone had this attitude no companies would lend and we'd all be in trouble - oh wait, did than not happen recently???

50quidonRED

what so you avoid your debt and push rates up for the rest of us, borrow money pay it back, why run and avoid it for 6 years just so legally you dont have to, o yea and 2-3 years ago you paid some money back, hope you get caught m8.....then come crawling back for more advice

woody01

You should also check to see if they have issued a CCJ.
If they have, its likely that you won't get away with it anyway.

al-209

seeing as this is a site dedicated to saving money, unless you have any tips for me saving money, i dont want to hear it. Whether you have had to pay your loans back or the interest rates go up or not is irrelevant to my questions. If you could have found a way to get away with not paying your debts with no unpleasant side-effects such as a bad credit rating im 100% certain you would have. I have easily paid back what i borrowed, all they are after is the hugely inflated interest charges, so i wont be guilt tripped into paying it. Even if i have had a CCJ its well spent by now, as my credit file is just fine.

Can anyone answer these questions accurately?

If 6 years has elapsed between the default and any other payment on the debt, it is statute barred? Is it only payment that is considered acknowledgement of the debt, what about simply correspondence?

How would i confirm whether the debt was indeed statute barred?

If it has been statute barred, as im 99% certain it has been, is any subsequent payment or correspondence or offer of payment considered an un-barring of the debt?

Is there a standard letter template for writing to companies stating the debt is atatute barred?

Thanks to anyone who can answer any or all of these questions.

vaporate

If you can get away with it, then do. These companies make enough money as it is. Moreover, do not bring morality into 'debts', as there is none, neither from the lender or debter.

al-209

vaporate wrote: »

If you can get away with it, then do. These companies make enough money as it is. Moreover, do not bring morality into 'debts', as there is none, neither from the lender or debter.

Couldnt have said it better

Deep_In_Debt

I think that making a payment within the 6 years is seen as acknowledging the debt and I don't think that creditors need to write - the payments just restart to clock.

AnxiousMum

al-209 wrote: »

seeing as this is a site dedicated to saving money, unless you have any tips for me saving money, i dont want to hear it. .

and if all debtors paid their loans back, then we would all be able to save money, as fees and interest could be lowered, and we could borrow properly instead of like in recent times - when lending to the normal person virtually stopped.

So, yes, it's money saving - pay your loan back so the rest of us don't have to on your behalf.