Defaulted HSBC Credit Card 5 Years Ago!

heather12345

I think i will go and speak to CA in person, i was under the impression these forums were for advice not judgement i find some of you quite aggressive in your opinions!

Tixy

By all means speak to citizens advice - they will confirm the same, that the advice you are being given is correct.

I think you are confusing the 6year period that a default stays on your credit file with the rules on statute barred debts (the limitation act).

Under the limitation act a creditor has 6years to commence legal action against your from the last payment towards the debt, or the last written acknowledgement from you that you owe the money (if later).

In your case the last payment towards the debt was March 10, so they have until March 2016 to decide to commence legal action (or they could sell on to a debt collector who would also have until March 16 to decide to commence legal action).

If you make another payment, or if they are able tp offset another payment, or if you write to the creditor or a debt collector acknowledge you owe the debt then that restarts the 6year period again and they then have 6years from that date to take to you to court.


Edit -
You could put in a claim for missold PPI now, and try to reclaim any unfair charges (not interest), and if you are successful that would likely reduce the debt down. But if you do that and there is any amount still outstanding then they'll have another 6years from then to decide to take you to court if they wisk.

jo-bo

I think you'll find a lot of people aggressive in their opinions because they are fed up to the back teeth with people trying to wiggle there way out of paying back what they owe. I have debts to pay but I spent the money so I WILL pay it back. One of the reasons interest rates are going up on credit cards is because people like you don't feel the need to pay it back, then you come on here saying "what can I claim back, I can't afford to pay it now, how can I get it wiped" etc. By all means if you were missold ppi claim it back, but if you're looking for tea and sympathy then you're in the wrong forum!

creditcardhelp11

You could have asked for the money using first right of appropriation if you needed the money i.e. due to hardship. It is a good idea always to have your income paid into a basic bank account with a bank that you do not owe money to. Although, in theory you could owe money to them all.