4+ Year old debts

felix42351

Hi, I have debts that have been unpaid for around 4 1/2 years. These range from £500 to £15,000 and have a total of around £20,000 with 4 different lenders.

What should I do for the best? I have moved address 3 times for various reasons since acquiring the debts (none of them because of being chased).

i was going to check my on-line credit report with the usual companies but didn't wan them updating any companies of my new address etc.

Any advice would be kindly appreciated

Regards

DarkConvict

If you get a credit file, go onto the electrol roll, apply for a job requiring a credit check, or apply for financial products or your credit file. Its possible that your address on your credit file will link up and you will get chased for payment.

If you can wait about 2 years the odds are the debts will go unpaid, unless they have taken out a CCJ against you. Its even possible for them to take out a bankruptcy order given the size of the debt (over £1500).

You ask what you should do for the best, but i need to ask you what you want to do?
If you do not want to pay the money back, then do not get n touch and hope they never took out a CCJ against you.
If you do want to pay it back, first consider can you afford to make payments, if not your entering into a world of hurt and be unable to do anything about it. Paying them back is easy, just get in touch and make payments. AS you know who you owe money to, you don't need your credit file.

felix42351

thanks for the reply. I ideally don't want to pay the debts back now, bad I know. It is just because of the way they went about doing things around the time I had difficulty paying them (early 2006).

How do I safely find out if they have taken out a CCJ against me without renewing my information on credit files etc? I would pay the debts back if I thought this would benefit me in the long run. I am guessing I could offer say £10+ a month to the smaller lenders and maybe £50 to the larger one. I think by now they will have sold some of the debt on, so maybe I can agree a smaller settlement?

Ideally I would like to know where I stand, see if anything has already been written off because of the time elapsed and then hope tio rebuild my credit rating over the next few years. It is very difficult for me to go bankrupt because of my employer finding out and this could possibly lead to me being out of a job.

I am looking at getting a more reliable car to get me to and from my place of work, but don't want this repossesing in say 6 months time leaving me stranded.

Any help really would be greatly appreciated

Thanks in advance

DarkConvict

All CCJ records are held here after been released from the court. I 'assume' this is a safe method to retrieve them - http://www.trustonline.org.uk/

If you cannot afford to start paying them back, do not put yourself though the heart ache voluntarily. In England the debts do still exist after 6 years but are not court enforceable. So you could pay them back voluntarily when you can afford it.
If they do find you anyway you will have to deal with it, and is not uncommon int he last few months before the SB date is up for them to intensify the search. Why? Owned Debts = Assets, SB Debts = Losses.