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13-year-old debt - what's its value now?
Jude_the_Shrewd
Posts: 6 Forumite
Can anyone tell me what £800 borrowed in 1997 would be worth now to maintain its purchasing power? No extra interest to be added 
. Thank you
. Thank you 0
Comments
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Er, no, I haven't a clue. I'd be interested to know why you ask though?I refuse to be afraid of the big bad wolf, spiders, or debt collection agencies; one of them's not real and the other two are powerless without my fear.
(Ok, one of them is powerless, spiders can be nasty.)
As of the last count I have cleared [STRIKE]23.16%[/STRIKE] 22.49% of my debt.
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Based on the CPI values from http://www.statistics.gov.uk (89.7 in 1997 and 114.3 in 2010) I would estimate £1019.40 (providing I understand the CPI index usage correctly)
I'd be interested to know why you want to know too ...If you think of it as 'us' verses 'them', then it's probably your side that are the villains.0 -
Someone has owed me that amount for all that time and I'm hoping to be repaid!0
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Well I hope you get it, I also hope they have acknowledged the debt in writing during that time or it may be statute barred.If you think of it as 'us' verses 'them', then it's probably your side that are the villains.0
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About £1130 using RPI. Personally I think RPI is more meaningful than CPI.0
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If you have had no confirmation or payment of the debt in 6 years (England and Wales) or 5 years (Scotland) then you are really going to struggle to get a penny back unless they want to pay it.I refuse to be afraid of the big bad wolf, spiders, or debt collection agencies; one of them's not real and the other two are powerless without my fear.
(Ok, one of them is powerless, spiders can be nasty.)
As of the last count I have cleared [STRIKE]23.16%[/STRIKE] 22.49% of my debt.
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You cant chase a debt after 6 years, 5 years in Scotland
but good luck with it anyway.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
About £1130 using RPI. Personally I think RPI is more meaningful than CPI.
For reference the RPI value for 1997 is 157.5 (year average) and 223.6 for July 2010 according to http://www.statistics.gov.ukIf you think of it as 'us' verses 'them', then it's probably your side that are the villains.0 -
Thank you everybody - that's very helpful. Hope the borrower does repay as it's a family member - I'll be one sister down if not!!:rotfl:0
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Ahh a sister... You might have a hope then. Pretty much anyone else could easily tell you to "do one".I refuse to be afraid of the big bad wolf, spiders, or debt collection agencies; one of them's not real and the other two are powerless without my fear.
(Ok, one of them is powerless, spiders can be nasty.)
As of the last count I have cleared [STRIKE]23.16%[/STRIKE] 22.49% of my debt.
0
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