Default Accounts Advice

SolemnSolitary

Hi,

New member here so be nice :P

A friend of mine told me to come here before I take any action.


During 2002-2004 I had 2 credit cards and a store card all of which I defaulted on.

I can't honestly remember when the last time I had made a payment on these but it's been at very least 5 years.

Recently I joined Credit Expert and discovered there are only two defaulted accounts under my name.. I am not sure which are which and honestly it may be that the third had been paid off by my ex. Since joining CreditExpert I have received letters regarding the Defaulted accounts. As that is the only thing that has changed I assumed it was CreditExpert that passed my contact details on to the debt collectors. Is this legal?

My Default dates on the two accounts (According to CreditExpert) :
Account1
Default Date: 19/05/2007
Account2
Default Date: 15/02/2007

Is it true that if I do not make a payment / formally write anything to the collectors that they can't chase me 6 years after the above dates?

Anyway, today they called me at work.. No idea how they got that number as my office has just moved so I haven't put this number out anywhere! Is there a way I can get them to no longer call my work? Is it legal for them to call my work?

I know the advice is going to be that I should setup a payment plan, not that I can afford it at the moment, to pay off the unlimited amount of charges they have for me and will continue to charge me for. Is there a limit to the charges?

Can I claim bankruptcy? I am out of ideas here and they are starting to interfere with my job and I really need to know legally where I stand.

Also I have discovered for a fact that it is CreditExpert that passed my information on as the debt collectors quoted a phone number I have on my CreditExpert profile that has a typo in it. Surely they aren't allowed to make my profile public knowledge?





Please any constructive advice would be fantastic.

Tixy

Yes - when you get a copy of your credit report you update your current address details.

Your creditors can search your report and so see your new address. They are entitled to do this - you give permission when you open the credit card account originally.

Is it true that if I do not make a payment / formally write anything to the collectors that they can't chase me 6 years after the above dates?

Not quite - the default date is irrelevant in this. Its true that if there is a period of 6years where you pay nothing towards a debt, don't acknowledge the debt in writing and only if they don't take court action then the debt becomes statute barred. Which means you do not have to pay and they could not take court action against you.

So you need to know when you last paid not when the default date is (it could of course be long after the default date or a while before that you last paid).

Anyway, today they called me at work.. No idea how they got that number as my office has just moved so I haven't put this number out anywhere! Is there a way I can get them to no longer call my work? Is it legal for them to call my work?

You could write to them to state that you want all communication to be in writing and not to call you at any number (including your work number). There is a template to do this if you want.

I know the advice is going to be that I should setup a payment plan, not that I can afford it at the moment, to pay off the unlimited amount of charges they have for me and will continue to charge me for. Is there a limit to the charges?

It will depend on your original agreement - most allow them to continue to add interest on even when sold to a third party.

Can I claim bankruptcy? I am out of ideas here and they are starting to interfere with my job and I really need to know legally where I stand.

You could consider applying for bankruptcy - though this is certainly not something to be taken lightly and its impossible to say whether it might be a sensible option in your situation. There might also be more suitable options for your circumstances - you would need to contact one of the debt advice charities is this was an option you were considering.

Do you know how much you debts are in total?

SolemnSolitary

Tixy wrote: »

Not quite - the default date is irrelevant in this. Its true that if there is a period of 6years where you pay nothing towards a debt, don't acknowledge the debt in writing and only if they don't take court action then the debt becomes statute barred. Which means you do not have to pay and they could not take court action against you.

So you need to know when you last paid not when the default date is (it could of course be long after the default date or a while before that you last paid).

Is there a way I can request this? Do they have to tell me if the account is statute barred or when it will be?

Tixy wrote: »

You could write to them to state that you want all communication to be in writing and not to call you at any number (including your work number). There is a template to do this if you want.

Would this affect my statute barred by officailly writting to them?
Where can I find this template?

Tixy wrote: »

Do you know how much you debts are in total?

I only know what I can see on my CreditExpert account

Account1
Default Date: 19/05/2007
Amount: £3,990
Account2
Default Date: 15/02/2007
Amount: £1,870

I currently have an Overdraft of 2000 on my current account that hasnt gone overdrawn for as long as i can remember
And I have outstanding student loans that are comming off my wage
not sure if these count and I dont know if I have any other creditors that aren't on my credit report.


Thank you so much for your help/advice!

Tixy

SolemnSolitary wrote: »

Is there a way I can request this? Do they have to tell me if the account is statute barred or when it will be?

No they don't have to tell you - the debt does still exist once its statute barred, you still owe the money, its just that you cannot be taken to court to make you pay.

Mostly people know when a debt is statute barred from their own records.

Would this affect my statute barred by officailly writting to them?
Where can I find this template?
You need to be careful of the wording you use. Suggest that you use a prove it letter wording (which specifically does not acknowledge the debt and then add the telephone harrasment wording on to the same letter - I'll fetch the links to the templates in a sec.


I only know what I can see on my CreditExpert account

Account1
Default Date: 19/05/2007
Amount: £3,990
Account2
Default Date: 15/02/2007
Amount: £1,870

I currently have an Overdraft of 2000 on my current account that hasnt gone overdrawn for as long as i can remember
And I have outstanding student loans that are comming off my wage
not sure if these count and I dont know if I have any other creditors that aren't on my credit report.


Thank you so much for your help/advice!

With regards to the idea of bankruptcy you would need to contact one of the debt advice charities here - IMPORTANT - Where to seek professional impartial advice about your debts.
But you might also want to talk to them about a debt relief order given the likely size of your debts.
Whether you would qualify for either and whether they are the best way to tackle these debts depends on your circumstances but the charities would advise you best.

Templates https://forums.moneysavingexpert.com/discussion/2607247
and http://forums.moneysavingexpert.com/...85&postcount=4

mrpsmith

Hi, your second link is broken.

Tixy

So it is - here is a new one
http://forums.moneysavingexpert.com/showpost.php?p=11571485&postcount=4

SolemnSolitary

Thanks so much Tixy.