Old debts from being foolish....

silverdales

Hi
I travel a lot but am on the elec roll at my parents (10 years) recently I got a credit report and it showed my defaults from credit cards/loans from around 2006 when I went through a messy relationship breakup (all debts in my name)
I have had no contact and just ignore/return to sender unkown at this address the letters that come.

I am moving in to a flat properly soon and want to know if these debts are likely to follow me? -if they trace me surely it is just a similiar name? I have a current account and a prepaid credit card which is OK for my needs....

I am on a limited income and cant afford to pay them off and with all the charges that have been added on it is not on..

Someone told me that after 3 years of no contact then the debts would be wiped out...any pointers....
Thanks in advance

elvis86

silverdales wrote: »

Hi
I travel a lot but am on the elec roll at my parents (10 years) recently I got a credit report and it showed my defaults from credit cards/loans from around 2006 when I went through a messy relationship breakup (all debts in my name)
I have had no contact and just ignore/return to sender unkown at this address the letters that come.

I am moving in to a flat properly soon and want to know if these debts are likely to follow me? -if they trace me surely it is just a similiar name? I have a current account and a prepaid credit card which is OK for my needs....

I am on a limited income and cant afford to pay them off and with all the charges that have been added on it is not on..

Someone told me that after 3 years of no contact then the debts would be wiped out...any pointers....
Thanks in advance

No idea RE your question, but I hope you don't get your debts written off, and I hope your creditors do catch up with you.:cool:

Your attitude stinks! You borrowed the money, regardless of how "messy" your break-up was. People like you push up the price of lending for honest people with every intention of paying back what they owe.:mad:

silverdales

Sorry if I offended anyone but at the moment I simply cant afford to pay it back, before I tried to speak to the companies but they made me sleepless nights as I couldnt afford it .. just looking for some advice .. sorry if I upset anyone

Turtle

elvis86 wrote: »

No idea RE your question, but I hope you don't get your debts written off, and I hope your creditors do catch up with you.:cool:

Your attitude stinks! You borrowed the money, regardless of how "messy" your break-up was. People like you push up the price of lending for honest people with every intention of paying back what they owe.:mad:

Agreed. There are so many people on here scrimping and saving to pay back the money they owe, not trying to get out of it. Grow a pair and make some attempt to pay it back. Ignoring it never helped anyone. Beside, I think it's 6 years not 3 so there.

NorthernLas

What happened to helpful advice without judgement???

OP: For debts to be unenforceable on time (statute barred), there needs to be 6 years on non payment and not 3.

It may be that your debts follow you if your addresses become linked.

However, as you have not been in contact, it is likely that the debts will have been sold by the original companies. Hopefully, others will be along to advise you how to find out who you owe and how you can sort this out.

silverdales

yes thats the problem, these people chasing letters are not the original people...i am so confused by it all....

and_breathe

Oh my Goodness, what a couple of opinionated replies! That's not good.

Dear OP, I am sorry I do not know the answer to your question, I think it is 6 years, but I am not certain. I am posting to tell you that there are people here who will help you, not just shout you down.

And to the arrogant Elvis and Turtle, you have no idea how much people beat themselves up about money problems. They do not need you joining in. This is a place to support others, not raise your own self esteem by mouthing off your own ill educated opinions.

property.advert

Forget the do gooders on here, they are up late night preaching from their pulpit but didn't make it to church today !

Life doesn't always deal people a fair hand each time the deck is shuffled and you know what interest rates are made up of ? well, quite some part of that interest rate is for bad debts and if you didn't help out, then these financial institutions would have to waste loads more money redesigning their risk systems. So actually you are helping them to keep their bad debts within the range they have already accounted for. Well done you !

Seriously, you have already messed up. Pulling your credit file tells the credit agencies that you are back in town. I cannot believe for a minute that they have not notified (i.e. sold) that information to the GAIN (gone away information network) and as we speak they are selling that information to your creditors who will redouble their interest in you. The only good thing is that they still think you live where you don't so keep sending the letters back.

You are going to have to keep your head down until at least 2013 to see these debts all die off and then only if you are totally certain that 2006 was the last time you used a card, spoke to them or paid a direct debt or made any repayment at all. If you paid £1 in 2010 then you have reset the 6 year clock since the last time you acknowledged the debt.

If you move to a flat then any credit search will alert them to your new address. Quite simply, if you want to avoid these debts, you have to remain invisible for a few more years and keep them sending letters to mama's house.

You really need to work out the chronology and either come to terms with invisibility or think about coming to a deal. If you cannot afford to pay, then there really is no decision to make.

I'm a pragmatist and know my way around logistics whereas others are pontificators. I think most are daft as a brush killing themselves for X years to pay back what they borrowed plus interest and having only peanuts as disposable income for an eternity. Banks must make money but they also make huge provisions for bad debts. What is the possibility that one of your detractors works for a company which has had debt written off or themselves writes debt off ? A virtual certainty I'd say. Just because they are too daft and under the thumb don't let that worry you. If you want to go hide for another 3 years or more, then up to you.

silverdales

Thanks for your input, very helpful!
You say about the addresses getting linked - how does this happen?
I have to change my bank details....