Not paid a debt for 2.5 years.

CanonMan_2

Following this thread i made in January 2008... https://forums.moneysavingexpert.com/discussion/677051=

Following my decision to go BR and since cancelling my payments to creditors on January 2008,- I haven't yet gone through with bankruptcy and haven't made a payment since then.

My gf and I have moved out of her Dad's and are renting our own place. Every once in a while a letter is sent to her Dad's address from a debt collectors but other than that I don't hear anything.

At some point in the future I would like to think I will be in a position to get a mortgage as I have learnt from my past mistakes and manage very well now. So I need to get this situation sorted.

Is leaving it alone an option? I mean are debts written off after so long?

stevemarsh1976

6 years I think tho I think getting some proper advice would be the best way forward for you at preasant. Contacting one of the debt charities

philnicandamy

it is 6yrs....and the DCA letters will continue and they'll catch up to you eventually

do as steve suggested & get some advice from one of the free agencies cccs/national debtline/CAB soon as you can.

Frank_Cannon

I think it's 6 years after they stop persuing you for the debt.

miss_spooky

Hi,

A debt can be statute barred 6 years from the date of last written acknowledgement / payment from you. This can be in the form of either a written letter notifying them of change of address or when payment was last made. So in reality this means you will have to ignore anything they send you and be sure of the date that you did last make contact - phone contact doesn't count.

They will pull out every means to get their money, so if you're sure you can sit pretty for 6 years on all your debts then it is a way to go. But not recommended as the pressure will increase. They can go for CCJ's without your acknowledge if they have made a reasonable effort to find /contact you. Then with CCJ's it does get complicated as these are not wiped out after 6yrs.They will remain until paid whatever the time limit. It is only a few people who have got away with this.

Also if you want a mortgage it isn't going to look good on your credit files if all your accts are SB, as this will also stay on file for a further 6yrs after the 6yrsSB period is up. So effectly 12yrs on your credit files.

Against £600 for BR which will be off in 6 yrs time & you would have dealt with your debt in a formal way will give you a better standing than just ignoring them...

I wish you all the best with what you decide to do, but do get advice.

philnicandamy

and in the end after bankruptcy a mortgage in the future isnt impossible just a little difficult...along with a decent deposit

Holes_in_my_pocket

with statue barred if a ccj is issued at a previous address then you cant use statue you barr as a reason , i didnt pay my debts 6yrs wasnt on electrol roll i moved around a fair bit in those 6yrs but eventually a creditor caught up with me and a went bankrupt my only regret is i wish i went bankrupt 6yrs previous.

immoral_angeluk

Why haven't you gone bankrupt?

CanonMan_2

There are lots of reasons I could give but in reality, there is no excuse for it.

I have now contacted the local court for the forms I need and am getting the ball rolling. I am saving the £600 and WILL be going through with it in a few months.

My next step is to find out who I owe money to and how much...

I have a list of my creditors and how much I owed them before I stopped paying back in Jan 2008 but some of those debts will now have been passed on to other debt collection agents? Should I just list the companies I took the credit out with in the first place.

Also, if there any creditors that I have missed will this matter too much?