Debts over Six years old

user051105

Lets clear some points up,

1 - I have never paid anything to this debt as I have never been in a postition to pay anything.

2 - I have never acknowledged this debt.

3 - The Companies have ignored all my requests for Statuutory Information

4 - The only correspondance they have had from me is a letter as follows

Re:− Account/Reference Number *******************

With reference to the above agreement, we would be grateful if you would send us a copy of this credit agreement.

We understand that under the Consumer Credit Act 1974 (Sections 77−79), we are entitled to receive a copy of our credit agreement on request. We enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act.
We understand a copy of are credit agreement should be supplied within 12 working days.

We understand that under the Consumer Credit Act creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.
We look forward to hearing from you.

5 - My simple question was how do I proceed from here. I am not arguing the fact that if these are my debts that I have to pay. So can someone help with a letter offering pro-rata for my debts.

thanks

Toto

Well, unless you put in a sentence in the letter saying you do not acknowledge any debt to this company it would seem that by writing to them in February you have restarted the 6 year clock. The letter you have quoted is admitting the debt by default of saying otherwise (if that makes any sense). So your original question about the statute barred issue, I would say no it isn't any longer.

I suggest you have a look at the national debtline's website where there are a whole bunch of letter templates, if you want to offer a pro rata agreement yourself. Otherwise the usual advice of giving payplan, CAB or CCCS a call is in order I think.

Toto

As far as the credit agreement thing is concerned. I have also written letters requesting this and to date have had no response. There are some opinions around over what the creditor can do next as far as enforcement is concerned. I have to admit I have no clue what to do now the 30 days are up. However, as I didn't send my letters with the intention of trying to avoid paying the debt I will assume that the creditor could just obtain the credit agreement at any time and put that into court with little warning. I doubt I could use the fact they didn't send it to me as a defence. So, I will just carry on as I am with the full intention of paying the balance regardless of the credit agreement (after all, I do know I had one in the beginning and I did borrow the money).

I am sure someone else will be able to advise better on the whole issue of non compliance with the credit agreement request. I am fully prepared to admit I have no idea what happens next when the creditors don't send the information.

user051105

The first line of my letter, stated I do not acknowledge any debt to your company. I pasted the letter above from National Debtline

Toto

Well in which case (and I could be wrong) I would think if you haven't acknowledged the debt at all in 6 years it is then statute barred.

sportbeth

It should indeed be statute barred.

I would assume that the debt now doesn't sit with the original creditor, more than likely with a debt collector who would have bought the debt for pennies in the pound. You now have two choices.

You either walk away smug in the fact that you successfully evaded a debt

You write to them highlighting that the debt is statute barred, but you realise that you have a moral obligation to pay and offer them either a very small full and final settlement or a very small monthly/weekly payment.

My preference would be to go for the lump sum F&F if I were you. Clears your conscience and means you're covering their costs but not paying for the overly inflated penalties, interest and charges that would have been whacked on for the hell of it when the debt defaulted.

Toto

If he offers any payment at all, does that not start the clock again? So, in effect the DCA could come after him for the whole amount? Or once it is statute barred does that mean it can never be enforced even if someone admits the debt?