much needed advice about statute barred debts

lilly573

i have variouse debts that are months away from being statue barred and some that are all ready statue barred probaly about 10000 worth

my questions are

1) i want to be debt free for once and for all i was going to start trying to pay everything off, im a single parent and dont have a job at the moment so i will be paying these debts untill i die, i had never heared of statue barred untill recently so are these debts no longer on my credit file?

2)if they are no longer on my credit file does this mean because im much more sensible with money and wont be applying for any new credit my credit file will start repairing itself?

3)i have a few debts that are less than the 6 years so im going to respond to these debts and start paying them off just now to stop any further damage being caused by these , do i need to wait another 6 years once these are cleared for any trace of these to be taken off my credit file?

4)also my bank r always trying to get me to upgrade my card, i always get refused come credit check so should i just now change bank open up a basic bank account where no credit check is required and work my self up a fresh start with a new bank to try get a card upgrade in a few years once ive paid off the other few debts and all statue barred debts have been removed from my credit file or does it not work like this

5) or should i just forget this whole statue barred thing and just offer to pay all debts a few pounds a month untill my situation changes and im working again?

sorry for all the questions but i have made such foolish decisions when i was alot younger and ive been haunted by them ever since i would like to think i could turn things around start saving money something ive never done and actualy be able to get my self a mortgage one day

camuk81

Lilly, can you break it down and tell us where you are what dates you have.

1. If they are state barred get rid of them

2. Follow martins advice open a small line of credit and repay in full every month

3. Repaying is always better. My file is showing some improvement and I've been at this for 5 months but the long term goal has to be £0 money owed.

4. Are the bank doing soft or internal searches or are they checking your credit file. Stop with the searches and crack on with your debts first

5. Depends on the length of the debt.

Can you go through the details of what you have, have you any judgements on each so we can tell you the best action

WRINKLES

Give us more details of your debts / when was the last payment made on each / what are the debts / loans credit cards / more information please / do not do anything rash calm down .

Snowedunder

I find it is much easier to seperate each debt into its' own folder then you know where you are with each one.

Basically, debts become Statute Barred if there has been no payment and or no written acknowledgement within 6 (5) in Scotand, years. This does not mean that the debt has gone away, it will (or should) drop off your credit file, and if and when anyone starts trying to claim this debt, once you are absolutely sure that it has been that length of time then you can send them a Statute Barred letter telling them that you have no wish to pay this debt and in theorly at least, they should 'go away'

Other differing help will be available as you let us have details. (nothing private though!).

McKneff

I admire you greatly for wanting to pay off your debts even if you dont have to, but you will get some good advice on here so just go with it.

Good luck

KellsBells

Hi Lilly,

just a quick one on the bank account thing - My bank (halifax) were also always trying to get me to upgrade my account too.

As they have refused me previously in the past, I told them there's no point, it won't let me, my credit score is very poor etc etc... anyways, she talked me into it, and the application actually passed!

The account I have now has lots of free extras (insurances etc etc) which I was able to stop paying separately for, so in the end it actually saves me money monthly! Give it a try, you never know, and it could save you money in the long run.x

lilly573

hi thanks for all your replys
yes im in scotland, my dc is 5 in a few months ive never made a payments to any of these debts since going on maternity leave before he was born so it is just over 5 years for most of the debts before a payment was made i have

£365 Catalogue
£669.93 Catalogue
£500 Catalogue
£678.25 Catalogue
£400 old contract phone
£3000 loan welcome finance
£300 cc
£999.98 cc
£300 bt
£248.55 02

not sure if gas and electric account show on credit report?
£900 gas
£600 electric

their has been no payments or contact made by me within this time, i almost certainly probaly have ccj, not sure what these are either but ive had numerouse letters threatning me with being taken to court and saying i will get one but ive moved since and none of them no where i live for now anyways

lilly573

should probaly say this is a list of debts i had in an old diary that i had from years ago when i last accessed my credit report in 2009, these debts have probaly grown since then with all the charges ect but ive been too frightened to get credit reports sent to my new address

lilly573

bumping in the hope of some help

WRINKLES

If i were you i would do nothing / ignore all letters untill enough time has elapsed till you are absolutely sure these debts are statute barred / do not worry you can not be hung for owing money / you can find out if you have any CCJ by contacting the registry trust online it costs eight pounds to do a search / no one but you will know you have made a search / i think that if any of your creditors had a CCJ they would have let you know / keep your head down and your chin up you will soon be debt free .

lilly573

thanks for the reply what is a CCJ is this a seriouse thing to have? how will it affect me i will look into doing a search tomorrow to see if i have

ive still got 3 outstanding debts that i no 100% are no where near the 5 year mark, 1 is about 4 years old since last payment 1 of them i have always paid and still am paying and the other one is probaly a year since last payment so i will continue paying this debt as agreed and would you suggest i phone the other 2 and make a repayment plan but leave the rest that are practically statute barred?

thanks again for your advice