Advice on 1st Credit hounding

DorsetRed

Hi there,

Back in 2005 I got myself into a situation where I was gambling out of control and ended up taking money from my job to fund the habit. At this time I also took a considerable bank loan, which I was offered with no problems at all.

About 3 months later I was arrested for taking the money and subsequently went to prison. I stopped the repayments on the loan at the time I was arrested as I had no income coming in. This account got defaulted in March 2006. In October 2006 a debt collection agency wrote to me asking for payment, at which time I explained the situation of being in prison and having no money. I heard nothing more from anyone on the matter until last week.

I had a call on Thursday from 1st Credit, saying they were acting on behalf of the bank. They asked me to confirm my identity which I refused to on the grounds that I had no idea who they were and if they are calling me they should know my details, and I'm not about to divulge such information over the phone to a stranger. At which point they said fine, they would put the details in the post to me. This hasn't arrived yet, but I've still had calls every day since, which I've not answered as I recognise the number.

Now I'm assuming when this letter turns up, it's going to be asking for some or all of the money I owed at the time, around £15k. As the default was listed in March 2006, this has now dropped completely off my credit file. My question is this:

Because I to whichever company wrote to me in October 2006 (not 1st credit), and acknowledged the debt by saying I couldn't pay anything, am I still within the 6 years for the debt being statute barred? If this is the case, what options do I have?

Whilst I'm not for one second suggesting my actions as described above justify what happened, I have spent the last 6 years rebuilding my life and not gambling, and having this come and bite me now is the last thing I need. Any advice is welcome.

fermi

What did you do in October 2006?

Write back to the company saying the debt was yours but you couldn't pay? Or did you only phone them?

For acknowledgement to reset the 6 years, it must be written acknowledgement by you. Phone calls do not count, no matter what was said.

DorsetRed

Thanks for the quick reply fermi. It was a letter that I wrote from prison to them unfortunately. However it was a totally different debt collection company I wrote to, not 1st Credit and not the originating bank. Would they pass those letters on to other companies?

fermi

I suppose it's possible. Just about anything is. Probably very unlikely though.

In the short term, I think I would wait and see what exactly the details/letter they send says.

DorsetRed

Well the letter came, and it turns out it was relating to an overdraft that I had at the same time, not the loan. It was considerably smaller than the loan, so not such a worry, but they still like phoning. I had a particularly rude call today again which again I wouldn't confirm my details to, and then they said they will keep calling until I'm ready to talk to them!!

I am just about to send the statute barred letter to them via my accountant, but wondered what I can do to stop them calling?

Presumably the same situation applies even though it's an overdraft not a loan?

FredWhispers

Hi Dorset,

Have you thought about entering into an arrangement to pay this off? It is still o/s after all.

Most debt collection companies offer a big discount for settlements.