7 years old unpaid loan issue.

mayurs

Hi,

This is my first post and first step in resolving the issue.

I took out a loan with Barclays Bank more than 7 years ago. My finance situation went from bad to worst and couldn't make any payments. However I did make over 8 months payments.

Now after so many years I had a letter from Robinson Way Limited wrote to me with demanding payment.

First paragraph mentions that they have recently bought this debt from some other debt collection agency and then letter is demanding full payments.

I am still not in the position to pay the money and now they are threatening me via letters. I have not contacted them at all as yet.

I wanted an advise before I call them and what should I say.

PLEASE HELP !!

Many Thanks in advance.

pauletruth

important don't panic.
are you sure on the 7 years. if you have not made any payment or written to them admitting the debt then there is a very good chance its statute barred.
first step send a prove it letter. look at the stickies at the top of this forum for a copy.
don't sign the letter.

then send a statute barred letter.
the experts will give you better advice shortly. don't worry about threats from dca's if they were going to have done something it would have been done by now. if you get any calls from them just refuse to answer there security questions it annoys them as they have to hang up.

happy_bunny_2

if no payments have been made in 6 years and the debt has not been acknowledged by you in writing then its statute barred and they can't make you pay it, unless they have got a CCJ at some point within 6 years.

Check your credit file to see if there is anything on there as Debt Collectors have a habit of changing default dates to favour them (not allowed to mind).

Best also post oh the debt free wannabe board, as you will help there:
http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=76

fatbelly

The default date as recorded on your credit file is not relevant. When did you last make a payment? is the relevant question, assuming that you did not acknowledge this in writing during this period, and that they didn't start court action against you.

Once you've established its legal status, we can help you with your options. Might be better on the debt free wannabe board.