Advice re debts

deanh1

Hi,

ive been paying off several debtts now since 2001, and since 2006 i have been in a debt management plan with payplan. my debts seem to be taking forever to reduce and i seem no better off now than when i started.
debts of approx 12k, and have been paying £300 per month since 2006, and i probably still owe half of that.

i havent minded paying them as it was my fault they were ran up, however they seem never ending, so is there a way i can get rid of the ones dating back 9 years?

any advice would be appreciated

DGJsaver

I`m confused , £300 a month since 2006 is about 14k......have you up to date balances etc etc

Tixy

Hi dean

I think you are wondering if any of these debts could be statute barred. Debts are only statute barred if there have been no payments for a period of over 6years (5 in Scotland) but if you have been repaying them since 2006 this presumably won't be the case.

Do you know which of your creditors have frozen interest & charges since you have been in your DMP? sometimes its worth keep hassling them to try to get interest frozen.

deanh1

yep, think the problem was payplan worked on estimates without taking into account the interest still being applied, like i said feel like im not getting anywhere so was hoping there was some way i could get rid of the older ones that i have been paying for 9 years.

i dont begrudge paying them and have paid them, but cant see any light at the end of the tunnel

Tixy

I'd suggest you get detailed information as to the balance on each debt, how much you have paid off each debt since 2006 and how much interest & charges have been applied (get this info from the creditors themselves)

Then you need to compare this to the balances Payplan think you owe them all.

Without this info you won;t know how much you actually still owe. You may be able to consider offering full & final settlements on some of the smaller debts if you have any savings.