Statute barred/wecome finance help please?

emmagerrie

Can i please have some help and advice please on a secured loan that we apparently took out with welcome finance.
We received a letter fromMKDP stating that we owe £10,640.03 to welcome finance. We cannot remember taking out this loan.
I contacted CAB and they gave me a copy of the first letter for a statute barred debt, which i sent to MKPD.
The response i got was that the amount refers to a secured loan and the time limit to recover money is 12 years by a mortgage or charge, also that we apparently took the loan out in november 2007 and a payment was made in march 2008.

I do not recall any of this as at that time my husband was made redundant and our house was being repossessed and taken from us around april 2008. MKPD only stated this in a letter but provided no actual evidence as requested in the letter CAB gave me, so I still do not know where I stand.

Please can someone advice me as to what to do next, and also as the debt was apparently secured and we no longer have a mortgage? We also had a car from Yes car credit but that im sure was all paid.

Thankyou

emmagerrie

Also would like to add the most recent letter i recieved was from another company called Raven Recoveries, very confused

Tixy

Hi emma

Might be worth a call to national debtline to talk this one through with them.

Do you think you might have taken out a loan secured on your home in Nov 07?

What was the reason you originally sent the SB letter? Did you think you did have a welcome finance loan - but thought it was longer ago than that and therefore statute barred?

Unless national debtline advise differently - I would suggest writing back to state that you have no knowledge of the alleged secured loan to which they refer and ask them to provide evidence of the loan and that it was secured or to get lost (well perhaps not quite those words).
I'd suggest using the prove it letter template - but amendeding it slightly so it specifically refers to a secured loan. Letter when you know nothing about about the debt - AKA "Prove it" letter

tpl

MKPD and Raven Recoveries are the same people, they just use different names to confuse people! Have you checked your credit report or bank records? I would start here first if you can't remember if you took the loan or not; although its seems a large sum to forget! Send the 'prove it' as already suggested....

emmagerrie

We did have welcome loans but only about £2000 at a time and cleared one before got another, as far as im aware the only secured loan was with yes car credit. I will try the prove it letter, as if they can prove it then i will have no issues with making arrangements to pay. Thankyou

Tixy

In terms of the secured loan on the car - the statute barred rules on that would be 6years the same as unsecured debts. It is only a debt secured on a property that the rules are 12 years.

When they reply to you - don't just accept that what they tell you is the truth, come back for advice. Even if you do find you did sign an agreement that was for a secured loan on your property, if they didn't actually ever make a charge on the property before it was repossessed I suspect that it would revert back to being an unsecured loan and the usual rules would apply.