Debt and Link.

mboro

I could do with some advice please.

I bought a car on finance 3 years ago.
A few months later I lost my job, couldn't keep up the monthly payments and the car was taken back.

I now have a £8000 debt with Link. Over the subsequent years I have been paying Link £5 every month.

I have other debts and all are being paid back every month, eg, I am paying the more important debts as quick as I can first.
I earn about £900 per month and can't see myself ever paying Link off.

This debt with Link....is it possible they may write it off after so many years?

Or am I stuck with this debt forever?

Thanks and Good Morning.:j

Gordon_Hose

Unlikely it'll get written off. As you've been paying it, it won't be Statute Barred (http://www.debtwatchdog.com/statute-barred-debt-england-and-wales-Article-215.html)... so the best thing you can do is carry on paying at the current rate, and once the important debts get paid off then increase your payments to Link.

poppasmurf_bewdley

Check and see if you qualify for a Debt Relief Order. This would be far preferable to what you are doing at the moment.

http://www.adviceguide.org.uk/index/your_money/money_management_index_ew/help_with_debt_index_ew/debt_relief_orders.htm

mboro

Thanks for the info. I will look into it.