Money Managers

Veedub69

Greetings I'm a newbie here and may have a problem with a statute barred debt rearing its ugly head. Can this company be trusted?
moneymanagersuk.co.uk
If so they seem to be offering a decent service. My aim would be to not pay the debt at all as it is statute barred and not enforcible by law. If these people really are the good guys its a service which I would not mind paying for.

MrsTinks

Why why why why do you want to pay someone to deal with a statute barred debt????????

IT'S STATUTE BARRED!!!!! There is nothing that the creditor can do to force you to pay the debt - so what are you hoping that this rip off merchant will do for you???

Deep_In_Debt

MrsTine wrote: »

Why why why why do you want to pay someone to deal with a statute barred debt????????

IT'S STATUTE BARRED!!!!! There is nothing that the creditor can do to force you to pay the debt - so what are you hoping that this rip off merchant will do for you???

Beat me to it!

Tixy

If its statute barred all you need is a template letter to inform your creditors you don't intend to pay.
Here you are - Statute barred debts and the Limitation Acts
free of charge!

Veedub69

I accept this however its to avoid stress to my elderly parents as that is the address they have. It has not come to this yet as I have just had a fishing letter. However the company involved uses bullying tactics and ignores the statute barred letter by all accounts and a small fee is an acceptable price to pay to avoid the hassle. At this time I am just looking at my options as it has not come on top yet. In the past I have settled at 30% to avoid stress to my parents as they are quite sensitive to this kind of thing. Also if this company is as it appears to be, I would encourage it as a counter to some of the under hand and illegal tactics used by the debt collection companies. It does of course depend on their fees but I imagine that many would encourage it, they claim to be able to stop all letters and phone calls from a collection agency and in my case this is invaluable.

Tixy

To be honest it seems very rare that creditors ignore statute barred letters. And if they do then you should follow up with the follow up letter and report them to the OFT and trading standards.

This company will only send exactly the same letters you could send yourself - they won't have any more influence than that.

Veedub69

OK fair play but there are reports on here to the contary. I am hoping that this will not escalate as I am no longer at that address but its hard for me to monitor as I'm not there.

Veedub69

There may be a certain weight to the letter from this company in that they are professionals. Apart from that if it does follow me to my present address I will definitely follow your advice.

theoretica

Would it not be cheaper to give them a new address so that the hassling letters come to you not your parents?

FireWyrm

Why dont you have all mail addressed to you for that property re-routed by the PostOffice? That way, you see the letters, not them. As for paying this bunch to do what you could do yourself, why would you want to?

MrsTinks

Veedub69 wrote: »

There may be a certain weight to the letter from this company in that they are professionals. Apart from that if it does follow me to my present address I will definitely follow your advice.

Professionals? Absolute nonsense! There is no professional qualification for dealing with DCAs - do they have any weight with DCAs when it comes to letters? No. ABSOLUTELY none!

Do me a favour and look at the length of time most of us have been on this board... I've been here rather a lot of years now and you know what? I probably know more about DCAs than this cowboy outfit and I can assure you others on here know a heck of a lot more than I do!

If they are chasing you at your parents address and you do not live there then all they need to do is notify them that you do not live there and to foxtrot oscar - if they do not then come here and we will direct you free of charge to letters and official channels for complaining about them.

I have been chased by 1 DCA and once they know you are aware of the law they rarely waste energy on you... they pay pennies in the pound for your debt and look at it as a gamble... Some they win - some they loose - thankfully more they loose now that the word is spreading about statute barred debts.

DO NOT under any circumstances use one of these rip off merchants who do NOT have any qualifications, will do nothing but send a letter and we know of plenty who charge but don't even bother sending the letters, who offer no guarantees and NO money back when they fail to deliver what they so gloriously promised...